GCC: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in GCC

In 2023, the GCC gear cutting machine market increased by X% to $X, rising for the second year in a row after two years of decline. In general, consumption saw a relatively flat trend pattern. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a somewhat lower figure.

Gear Cutting Machine Production in GCC

In value terms, gear cutting machine production fell slightly to $X in 2023 estimated in export price. Overall, production continues to indicate moderate growth. The pace of growth was the most pronounced in 2019 when the production volume increased by X%. As a result, production reached the peak level of $X. From 2020 to 2023, production growth remained at a lower figure.

Gear Cutting Machine Exports

Exports in GCC

Gear cutting machine exports contracted sharply to X units in 2023, falling by X% against 2022. In general, exports, however, enjoyed a buoyant expansion. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2023, the growth of the exports failed to regain momentum.

In value terms, gear cutting machine exports reduced rapidly to $X in 2023. Overall, exports saw a mild slump. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of export peaked at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates represented the main exporting country with an export of about X units, which reached X% of total exports. It was distantly followed by Oman (X units), making up an X% share of total exports. Bahrain (X units) took a minor share of total exports.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%) and Bahrain (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Oman increased by X percentage points. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest gear cutting machine supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Oman ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (X% per year) and Bahrain (X% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2023, surging by X% against the previous year. Overall, the export price, however, recorded a abrupt setback. The most prominent rate of growth was recorded in 2018 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2016; however, from 2017 to 2023, 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 the United Arab Emirates ($X per unit), while Oman ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced a decline in the export price figures.

Gear Cutting Machine Imports

Imports in GCC

In 2023, purchases abroad of gear cutting, gear grinding or gear finishing machines was finally on the rise to reach X units for the first time since 2020, thus ending a two-year declining trend. Over the period under review, imports, however, continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2013 when imports increased by X%. As a result, imports attained the peak of X units. From 2014 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, gear cutting machine imports soared to $X in 2023. Overall, imports, however, continue to indicate a deep contraction. Over the period under review, imports attained the peak figure at $X in 2013; however, from 2014 to 2023, imports remained at a lower figure.

Imports by Country

In 2023, the United Arab Emirates (X units) represented the major importer of gear cutting, gear grinding or gear finishing machines, constituting X% of total imports. It was distantly followed by Kuwait (X units), constituting a X% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2023. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported gear cutting, gear grinding or gear finishing machines in GCC, comprising X% of total imports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total imports.

In the United Arab Emirates, gear cutting machine imports increased at an average annual rate of X% over the period from 2012-2023.

Import Prices by Country

In 2023, the import price in GCC amounted to $X per unit, rising by X% against the previous year. Over the period under review, the import price, however, continues to indicate a noticeable descent. The most prominent rate of growth was recorded in 2019 when the import price increased by X%. As a result, import price reached the peak level of $X per unit. From 2020 to 2023, the import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2023, amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Kuwait totaled $X per unit.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Source: IndexBox Platform