Middle East: Ship Propeller Market 2024

Ship Propeller Market Size in the Middle East

The Middle Eastern ship propeller market rose sharply to $X in 2022, picking up by X% against the previous year. The total consumption indicated buoyant growth 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, consumption decreased by X% against 2020 indices. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Ship Propeller Production in the Middle East

In value terms, ship propeller production dropped to $X in 2022 estimated in export price. In general, production recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2015 to 2022, production growth failed to regain momentum.

Ship Propeller Exports

Exports in the Middle East

In 2022, ship propeller exports in the Middle East soared to X units, rising by X% against 2021 figures. In general, exports enjoyed a prominent expansion. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in years to come.

In value terms, ship propeller exports skyrocketed to $X in 2022. Over the period under review, exports posted a strong increase. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Bahrain was the key exporter of ships or boats propellers and blades therefor in the Middle East, with the volume of exports recording X units, which was near X% of total exports in 2022. It was distantly followed by Oman (X units), Turkey (X units) and the United Arab Emirates (X units), together committing a X% share of total exports.

Bahrain was also the fastest-growing in terms of the ships or boats propellers and blades therefor exports, with a CAGR of X% from 2012 to 2022. At the same time, Turkey (X%) displayed positive paces of growth. By contrast, the United Arab Emirates (X%) and Oman (X%) illustrated a downward trend over the same period. While the share of Bahrain (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) and Oman (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest ship propeller supplying countries in the Middle East were Bahrain ($X), Oman ($X) and Turkey ($X), together comprising X% of total exports.

Among the main exporting countries, Bahrain, with a CAGR of X%, saw the highest growth rate of the value of exports, 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, reducing by X% against the previous year. Overall, the export price, however, enjoyed buoyant growth. The most prominent rate of growth was recorded in 2015 an increase of X%. Over the period under review, the export prices attained the peak figure at $X per unit in 2020; however, from 2021 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 ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

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

Ship Propeller Imports

Imports in the Middle East

In 2022, imports of ships or boats propellers and blades therefor in the Middle East expanded markedly to X units, growing by X% on 2021. Over the period under review, imports showed a prominent expansion. The most prominent rate of growth was recorded in 2015 with an increase of X%. Over the period under review, imports reached the maximum at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, ship propeller imports contracted to $X in 2022. Total imports 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, imports decreased by X% against 2020 indices. The growth pace was the most rapid in 2014 when imports increased by X% against the previous year. Over the period under review, imports reached the maximum at $X in 2020; however, from 2021 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, Turkey (X units) was the major importer of ships or boats propellers and blades therefor, creating X% of total imports. It was distantly followed by the United Arab Emirates (X units), comprising a X% share of total imports. Saudi Arabia (X units) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the ships or boats propellers and blades therefor imports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) and Saudi Arabia (X%) displayed positive paces of growth. While the share of Turkey (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported ships or boats propellers and blades therefor in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports.

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

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, declining by X% against the previous year. Overall, the import price continues to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2018 an increase of X%. Over the period under review, import prices attained the maximum 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 Saudi Arabia ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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