GCC: Working Wire Machine Market 2024

Working Wire Machine Market Size in GCC

The GCC working wire machine market stood at $X in 2023, growing by X% against the previous year. In general, consumption continues to indicate a buoyant expansion. The level of consumption peaked at $X in 2018; however, from 2019 to 2023, consumption failed to regain momentum.

Working Wire Machine Production in GCC

In value terms, working wire machine production reduced dramatically to $X in 2023 estimated in export price. Overall, production, however, enjoyed a prominent increase. The pace of growth was the most pronounced in 2018 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2019 to 2023, production growth failed to regain momentum.

Working Wire Machine Exports

Exports in GCC

In 2023, exports of machines for working wire in GCC shrank dramatically to X units, reducing by X% on 2022. In general, exports, however, showed a notable increase. The pace of growth appeared the most rapid in 2017 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2022, and then dropped sharply in the following year.

In value terms, working wire machine exports shrank to $X in 2023. Over the period under review, exports, however, enjoyed a strong increase. The growth pace was the most rapid in 2017 when exports increased by X%. The level of export peaked at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X units, which was near X% of total exports in 2023. Oman (X units) took a little share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the machines for working wire exports, with a CAGR of X% from 2012 to 2023. Oman experienced a relatively flat trend pattern. While the share of the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

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

Export Prices by Country

In 2023, the export price in GCC amounted to $X per unit, surging by X% against the previous year. In general, the export price recorded a resilient increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

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

Working Wire Machine Imports

Imports in GCC

In 2023, after two years of growth, there was significant decline in supplies from abroad of machines for working wire, when their volume decreased by X% to X units. Over the period under review, imports, however, recorded a pronounced expansion. The growth pace was the most rapid in 2021 when imports increased by X% against the previous year. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2023, imports failed to regain momentum.

In value terms, working wire machine imports soared to $X in 2023. Overall, imports continue to indicate a noticeable curtailment. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2023, imports remained at a lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X units, which was near X% of total imports in 2023. Kuwait (X units) took the second position in the ranking, followed by Oman (X units). All these countries together took near X% share of total imports.

From 2012 to 2023, average annual rates of growth with regard to working wire machine imports into the United Arab Emirates stood at X%. At the same time, Oman (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. By contrast, Kuwait (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total imports, while Kuwait saw its share reduced by X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

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

In the United Arab Emirates, working wire machine imports increased at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2023, rising by X% against the previous year. In general, the import price, however, continues to indicate a abrupt shrinkage. The growth pace was the most rapid in 2020 an increase of X%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2023, 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 Oman ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform