Middle East: Gear Cutting Machine Market 2024

Gear Cutting Machine Market Size in the Middle East

The Middle Eastern gear cutting machine market shrank to $X in 2023, dropping by X% against the previous year. Overall, consumption, however, continues to indicate a noticeable decline. As a result, consumption attained the peak level of $X. From 2020 to 2023, the growth of the market remained at a lower figure.

Gear Cutting Machine Production in the Middle East

In value terms, gear cutting machine production dropped modestly to $X in 2023 estimated in export price. The total production indicated a modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, production increased by X% against 2021 indices. The pace of growth appeared the most rapid in 2019 with an increase of 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 the Middle East

In 2023, approx. X units of gear cutting, gear grinding or gear finishing machines were exported in the Middle East; picking up by X% against the previous year. In general, exports posted a resilient expansion. The growth pace was the most rapid in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of X units. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.

In value terms, gear cutting machine exports totaled $X in 2023. Over the period under review, exports recorded a noticeable expansion. The growth pace was the most rapid in 2017 with an increase of X%. Over the period under review, the exports reached the maximum at $X in 2018; however, from 2019 to 2023, the exports remained at a lower figure.

Exports by Country

Turkey represented the key exporting country with an export of around X units, which reached X% of total exports. The United Arab Emirates (X units) ranks second in terms of the total exports with a X% share, followed by Lebanon (X%) and Iran (X%). Oman (X units) followed a long way behind the leaders.

Turkey was also the fastest-growing in terms of the gear cutting, gear grinding or gear finishing machines exports, with a CAGR of X% from 2012 to 2023. At the same time, Iran (X%), Oman (X%), the United Arab Emirates (X%) and Lebanon (X%) displayed positive paces of growth. While the share of Turkey (X p.p.) and Iran (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of the United Arab Emirates (X p.p.) and Lebanon (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest gear cutting machine supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Lebanon, with an X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey stood at X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Lebanon (X% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2023, reducing by X% against the previous year. Over the period under review, the export price showed a drastic downturn. The pace of growth appeared the most rapid in 2018 an increase of X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2015; however, from 2016 to 2023, the export prices remained at a lower figure.

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 Lebanon ($X per unit), while Oman ($X per unit) was amongst the lowest.

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

Gear Cutting Machine Imports

Imports in the Middle East

In 2023, gear cutting machine imports in the Middle East soared to X units, with an increase of X% on 2022. Overall, imports, however, continue to indicate a slight setback. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2014 to 2023, the growth of imports failed to regain momentum.

In value terms, gear cutting machine imports skyrocketed to $X in 2023. Over the period under review, imports continue to indicate measured growth. The pace of growth was the most pronounced in 2020 when imports increased by X%. Over the period under review, imports attained the peak figure in 2023 and are likely to see steady growth in the near future.

Imports by Country

Iran represented the major importer of gear cutting, gear grinding or gear finishing machines in the Middle East, with the volume of imports amounting to X units, which was near X% of total imports in 2023. The United Arab Emirates (X units) held a X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%) and Turkey (X%). Yemen (X units) took a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for Yemen (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) constitutes the largest market for imported gear cutting, gear grinding or gear finishing machines in the Middle East, comprising X% of total imports. The second position in the ranking was held by Iran ($X), with a X% share of total imports. It was followed by the United Arab Emirates, with a X% share.

From 2012 to 2023, the average annual growth rate of value in Turkey totaled X%. The remaining importing countries recorded the following average annual rates of imports growth: Iran (X% per year) and the United Arab Emirates (X% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2023, which is down by X% against the previous year. Overall, the import price, however, continues to indicate perceptible growth. The pace of growth appeared the most rapid in 2019 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2020 to 2023, the import prices remained at a somewhat 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 Turkey ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Yemen (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform