Saudi Arabia: Working Wire Machine Market 2022

Working Wire Machine Market Size in Saudi Arabia

In 2021, the Saudi working wire machine market decreased by -45.3% to $X for the first time since 2018, thus ending a two-year rising trend. In general, consumption recorded a dramatic descent. Working wire machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Working Wire Machine Production in Saudi Arabia

In value terms, working wire machine production surged to $X in 2021 estimated in export price. Overall, production saw resilient growth. The pace of growth was the most pronounced in 2013 with an increase of 35%. Working wire machine production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Working Wire Machine Exports

Exports from Saudi Arabia

Working wire machine exports from Saudi Arabia surged to X units in 2021, with an increase of 944% against the year before. Overall, exports saw a relatively flat trend pattern. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, working wire machine exports reduced remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a precipitous setback. The most prominent rate of growth was recorded in 2014 when exports increased by 84%. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Bahrain (X units) was the main destination for working wire machine exports from Saudi Arabia, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to Bahrain was relatively modest.

In value terms, Bahrain ($X) emerged as the key foreign market for working wire machine exports from Saudi Arabia.

From 2012 to 2021, the average annual rate of growth in terms of value to Bahrain was relatively modest.

Export Prices by Country

In 2021, the average working wire machine export price amounted to $X per unit, declining by -96% against the previous year. Over the period under review, the export price recorded a precipitous setback. The most prominent rate of growth was recorded in 2018 an increase of 247%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the the average export prices remained at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for Bahrain.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +16.5% per year.

Working Wire Machine Imports

Imports into Saudi Arabia

In 2021, purchases abroad of machines for working wire decreased by -37.1% to X units, falling for the second consecutive year after seven years of decline. Overall, imports recorded a dramatic contraction. Imports peaked at X units in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, working wire machine imports surged to $X in 2021. Over the period under review, imports showed a deep downturn. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

China (X units), Italy (X units) and Germany (X units) were the main suppliers of working wire machine imports to Saudi Arabia, together accounting for 78% of total imports. Austria, Latvia, Australia and Taiwan (Chinese) lagged somewhat behind, together comprising a further 19%.

From 2021 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of 0.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Italy ($X), China ($X) and Germany ($X) constituted the largest working wire machine suppliers to Saudi Arabia, together comprising 84% of total imports.

Among the main suppliers, China, with a CAGR of 0.0%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average working wire machine import price stood at $X per unit in 2021, jumping by 167% against the previous year. In general, the import price recorded significant growth. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Australia ($X per unit), while the price for Taiwan (Chinese) ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+48.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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