Middle East: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in the Middle East

In 2022, the Middle Eastern grinding and sharpening machine market decreased by X% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption, however, recorded a buoyant increase. The level of consumption peaked at $X in 2021, and then declined modestly in the following year.

Production of Grinding And Sharpening Metal Finishing Machines in the Middle East

In value terms, grinding and sharpening machine production reduced slightly to $X in 2022 estimated in export price. Over the period under review, production recorded a buoyant increase. The pace of growth appeared the most rapid in 2018 when the production volume increased by X%. Over the period under review, production reached the peak level at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports in the Middle East

In 2022, shipments abroad of grinding and sharpening metal finishing machines increased by X% to X units, rising for the third year in a row after two years of decline. Overall, exports enjoyed a modest increase. The most prominent rate of growth was recorded in 2017 when exports increased by X%. The volume of export peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine exports skyrocketed to $X in 2022. Total exports indicated a pronounced increase from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, the exports hit record highs in 2022 and are expected to retain growth in the immediate term.

Exports by Country

In 2022, Turkey (X units) was the main exporter of grinding and sharpening metal finishing machines, making up X% of total exports. It was distantly followed by Israel (X units), Kuwait (X units) and the United Arab Emirates (X units), together making up a X% share of total exports. Bahrain (X units) and Lebanon (X units) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%), Lebanon (X%), Bahrain (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Israel (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Kuwait (X p.p.), Bahrain (X p.p.) and Lebanon (X p.p.) significantly strengthened its position in terms of the total exports, while Israel saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest grinding and sharpening machine supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by Israel ($X), with an X% share of total exports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2022, the average annual growth rate of value in Turkey stood at X%. In the other countries, the average annual rates were as follows: Israel (X% per year) and the United Arab Emirates (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, picking up by X% against the previous year. Over the period under review, the export price recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2017 to 2022, the export prices remained at a lower figure.

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

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

Imports of Grinding And Sharpening Metal Finishing Machines

Imports in the Middle East

In 2022, after two years of growth, there was significant decline in overseas purchases of grinding and sharpening metal finishing machines, when their volume decreased by X% to X units. Over the period under review, imports, however, enjoyed a buoyant expansion. The pace of growth appeared the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2021, and then declined dramatically in the following year.

In value terms, grinding and sharpening machine imports soared to $X in 2022. In general, imports continue to indicate a abrupt setback. Over the period under review, imports reached the maximum at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, Turkey (X units) was the major importer of grinding and sharpening metal finishing machines, constituting X% of total imports. Bahrain (X units) ranks second in terms of the total imports with a X% share, followed by the United Arab Emirates (X%). The following importers - Kuwait (X units), Israel (X units), Iraq (X units) and Yemen (X units) - together made up X% of total imports.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%), Yemen (X%), Bahrain (X%), Iraq (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2022. By contrast, Israel (X%) illustrated a downward trend over the same period. While the share of Bahrain (X p.p.), Kuwait (X p.p.), Iraq (X p.p.) and Yemen (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Israel (X p.p.) and Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported grinding and sharpening metal finishing machines in the Middle East, comprising X% of total imports. The second position in the ranking was taken by Yemen ($X), with a X% share of total imports. It was followed by Israel, with an X% share.

In Turkey, grinding and sharpening machine imports shrank by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Yemen (X% per year) and Israel (X% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, surging by X% against the previous year. Over the period under review, the import price, however, showed a deep reduction. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices stood 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 Yemen ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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