Middle East: Market for Machines For Balancing Mechanical Parts 2024

Market Size for Machines For Balancing Mechanical Parts in the Middle East

The Middle Eastern balancing mechanical parts machine market contracted slightly to $X.4B in 2022, stabilizing at the previous year. Over the period under review, consumption, however, showed a prominent expansion. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Production of Machines For Balancing Mechanical Parts in the Middle East

In value terms, balancing mechanical parts machine production shrank to $X.6B in 2022 estimated in export price. Over the period under review, production, however, recorded a prominent increase. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The level of production peaked at $X.1B in 2018; however, from 2019 to 2022, production remained at a lower figure.

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Exports of Machines For Balancing Mechanical Parts

Exports in the Middle East

After three years of growth, shipments abroad of machines for balancing mechanical parts decreased by X% to X units in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports reached the peak of X units, and then fell dramatically in the following year.

In value terms, balancing mechanical parts machine exports dropped notably to $X in 2022. In general, exports saw a abrupt contraction. The growth pace was the most rapid in 2021 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Kuwait (X units), Israel (X units) and Turkey (X units) represented the largest exporter of machines for balancing mechanical parts in the Middle East, making up X% of total export. It was distantly followed by the United Arab Emirates (X units), mixing up a X% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of X%), while shipments for the other leaders experienced mixed trends in the exports figures.

In value terms, Kuwait ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of exports in 2022, together accounting for X% of total exports.

Kuwait, with a CAGR of X%, saw the highest growth rate of the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in the Middle East amounted to $X per unit, surging by X% against the previous year. In general, the export price, however, continues to indicate a deep contraction. The pace of growth appeared the most rapid in 2018 an increase of X%. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Israel ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (X%), while the other leaders experienced mixed trends in the export price figures.

Imports of Machines For Balancing Mechanical Parts

Imports in the Middle East

For the third consecutive year, the Middle East recorded growth in overseas purchases of machines for balancing mechanical parts, which increased by X% to X units in 2022. In general, imports, however, continue to indicate a deep setback. The growth pace was the most rapid in 2021 with an increase of X%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, balancing mechanical parts machine imports dropped sharply to $X in 2022. Overall, imports, however, saw a perceptible reduction. The pace of growth appeared the most rapid in 2021 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Kuwait represented the largest importer of machines for balancing mechanical parts in the Middle East, with the volume of imports finishing at X units, which was near X% of total imports in 2022. Turkey (X units) took the second position in the ranking, followed by the United Arab Emirates (X units), Qatar (X units) and Iraq (X units). All these countries together took near X% share of total imports. The following importers - Israel (X units) and Iran (X units) - each reached a X% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to balancing mechanical parts machine imports into Kuwait stood at X%. At the same time, Iraq (X%), the United Arab Emirates (X%), Iran (X%) and Israel (X%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. Turkey experienced a relatively flat trend pattern. By contrast, Qatar (X%) illustrated a downward trend over the same period. Kuwait (X p.p.), Iraq (X p.p.), the United Arab Emirates (X p.p.), Turkey (X p.p.), Israel (X p.p.) and Iran (X p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest balancing mechanical parts machine importing markets in the Middle East were Turkey ($X), Iran ($X) and Qatar ($X), with a combined X% share of total imports.

Among the main importing countries, Iran, with a CAGR of X%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, dropping by X% against the previous year. In general, the import price, however, showed measured growth. The most prominent rate of growth was recorded in 2013 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Iran ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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