MENA: Gear Box Market 2024

Gear Box Market Size in MENA

In 2022, after two years of growth, there was decline in the MENA's gear box market, when its value decreased by X% to $X. Overall, consumption, however, recorded buoyant growth. Over the period under review, the market reached the maximum level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Gear Box Production in MENA

In value terms, gear box production rose to $X in 2022 estimated in export price. Over the period under review, production enjoyed a remarkable increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Gear Box Exports

Exports in MENA

In 2022, overseas shipments of gear boxes increased by X% to X units, rising for the sixth consecutive year after two years of decline. Overall, exports enjoyed a strong increase. The pace of growth was the most pronounced in 2021 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, gear box exports skyrocketed to $X in 2022. Over the period under review, exports posted strong growth. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in years to come.

Exports by Country

In 2022, Turkey (X units) was the largest exporter of gear boxes, mixing up X% of total exports. It was distantly followed by the United Arab Emirates (X units), generating a X% share of total exports. Morocco (X units) and Oman (X units) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%), the United Arab Emirates (X%) and Morocco (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. While the share of the United Arab Emirates (X p.p.), Morocco (X p.p.) and Oman (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics.

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

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

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, increasing by X% against the previous year. Overall, the export price, however, showed a slight setback. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Oman ($X per unit), while Morocco ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced more modest paces of growth.

Gear Box Imports

Imports in MENA

Gear box imports dropped to X units in 2022, which is down by X% against 2021. Total imports indicated a buoyant increase from 2012 to 2022: its volume 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 increased by X% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, gear box imports reduced to $X in 2022. Total imports indicated prominent 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, imports increased by X% against 2019 indices. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. Over the period under review, imports hit record highs at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Turkey (X units) was the major importer of gear boxes, committing X% of total imports. It was distantly followed by Morocco (X units) and Iran (X units), together making up a X% share of total imports. The United Arab Emirates (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to gear box imports into Turkey stood at X%. At the same time, Morocco (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Iran experienced a relatively flat trend pattern. While the share of Morocco (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Turkey (X p.p.) and Iran (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported gear boxes in MENA, comprising X% of total imports. The second position in the ranking was taken by Morocco ($X), with a X% share of total imports. It was followed by Iran, with a X% share.

In Turkey, gear box imports increased at an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Morocco (X% per year) and Iran (X% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2022, approximately mirroring the previous year. In general, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Iran ($X per unit), while Morocco ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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