United Arab Emirates: Working Wire Machine Market 2022

Working Wire Machine Market Size in the United Arab Emirates

In 2021, the working wire machine market in the United Arab Emirates increased by 51% to $X, rising for the third year in a row after three years of decline. Overall, consumption continues to indicate a resilient increase. Over the period under review, the market attained the peak level in 2021 and is likely to continue growth in the near future.

Working Wire Machine Production in the United Arab Emirates

In value terms, working wire machine production declined modestly to $X in 2021 estimated in export price. In general, production, however, posted a pronounced increase. The most prominent rate of growth was recorded in 2017 with an increase of 44% against the previous year. Over the period under review, production attained the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Working Wire Machine Exports

Exports from the United Arab Emirates

In 2021, after two years of decline, there was significant growth in shipments abroad of machines for working wire, when their volume increased by 154% to X units. Overall, exports, however, recorded a deep contraction. The most prominent rate of growth was recorded in 2017 when exports increased by 1,112%. The exports peaked at X units in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

In value terms, working wire machine exports skyrocketed to $X in 2021. In general, exports recorded a notable expansion. The growth pace was the most rapid in 2017 when exports increased by 3,928%. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X units) was the main destination for working wire machine exports from the United Arab Emirates, accounting for a 86% share of total exports. Moreover, working wire machine exports to Oman exceeded the volume sent to the second major destination, Rwanda (X units), more than tenfold. The third position in this ranking was taken by Greece (X units), with a 3.2% share.

From 2012 to 2021, the average annual growth rate of volume to Oman totaled +17.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (0.0% per year) and Greece (0.0% per year).

In value terms, Oman ($X) remains the key foreign market for working wire machine exports from the United Arab Emirates, comprising 66% of total exports. The second position in the ranking was held by Greece ($X), with a 30% share of total exports. It was followed by Rwanda, with a 0.2% share.

From 2012 to 2021, the average annual growth rate of value to Oman totaled +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Greece (0.0% per year) and Rwanda (0.0% per year).

Export Prices by Country

The average working wire machine export price stood at $X per unit in 2021, surging by 13% against the previous year. In general, the export price enjoyed a strong increase. The most prominent rate of growth was recorded in 2017 when the average export price increased by 232%. Over the period under review, the average export prices reached the maximum at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Greece ($X per unit), while the average price for exports to Zambia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Iran (+45.0%), while the prices for the other major destinations experienced mixed trend patterns.

Working Wire Machine Imports

Imports into the United Arab Emirates

In 2021, supplies from abroad of machines for working wire was finally on the rise to reach X units for the first time since 2017, thus ending a three-year declining trend. In general, imports, however, continue to indicate a pronounced slump. The most prominent rate of growth was recorded in 2017 with an increase of 311% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, working wire machine imports surged to $X in 2021. Over the period under review, imports saw a prominent expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest working wire machine supplier to the United Arab Emirates, with a 56% share of total imports. Moreover, working wire machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), twofold. India (X units) ranked third in terms of total imports with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-0.6% per year) and India (+20.5% per year).

In value terms, China ($X), Italy ($X) and Taiwan (Chinese) ($X) were the largest working wire machine suppliers to the United Arab Emirates, with a combined 86% share of total imports.

Among the main suppliers, Taiwan (Chinese), with a CAGR of +32.6%, saw the highest rates of growth with regard to 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

In 2021, the average working wire machine import price amounted to $X per unit, picking up by 39% against the previous year. Overall, the import price saw a resilient expansion. The growth pace was the most rapid in 2020 an increase of 157% against the previous year. The import price peaked in 2021 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Greece ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Greece (+51.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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