Middle East: Market for Lathes For Removing Metal 2024

Market Size for Lathes For Removing Metal in the Middle East

After two years of growth, the Middle Eastern lathe for removing metal market decreased by X% to $X in 2023. In general, consumption, however, continues to indicate a slight increase. Over the period under review, the market reached the peak level at $X in 2018; however, from 2019 to 2023, consumption stood at a somewhat lower figure.

Production of Lathes For Removing Metal in the Middle East

In value terms, lathe for removing metal production contracted slightly to $X in 2023 estimated in export price. The total production indicated moderate growth 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 2014 when the production volume increased by X% against the previous year. Over the period under review, lafor removing metal production attained the maximum level at $X in 2019; however, from 2020 to 2023, production failed to regain momentum.

Exports of Lathes For Removing Metal

Exports in the Middle East

For the third consecutive year, the Middle East recorded growth in overseas shipments of lathes for removing metal, which increased by X% to X units in 2023. Over the period under review, exports enjoyed a prominent increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, lathe for removing metal exports soared to $X in 2023. Overall, exports saw a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of X%. Over the period under review, the lafor removing metal exports reached the peak figure in 2023 and are expected to retain growth in years to come.

Exports by Country

Turkey dominates exports structure, accounting for X units, which was approx. X% of total exports in 2023. The following exporters - the United Arab Emirates (X units) and Iran (X units) - together made up X% of total exports.

Turkey was also the fastest-growing in terms of the lathes for removing metal exports, with a CAGR of X% from 2012 to 2023. Iran (X%) and the United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while Iran and the United Arab Emirates saw its share reduced by X% and X% from 2012 to 2023, respectively.

In value terms, Turkey ($X) remains the largest lathe for removing metal supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2023, the average annual rate of growth in terms of value in Turkey amounted to X%. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Iran (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. Export price indicated a prominent increase from 2012 to 2023: its price 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. The most prominent rate of growth was recorded in 2013 when the export price increased by X% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2018; however, from 2019 to 2023, the export prices remained at a lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2023, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Iran ($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 more modest paces of growth.

Imports of Lathes For Removing Metal

Imports in the Middle East

In 2023, purchases abroad of lathes for removing metal increased by X% to X units, rising for the fifth consecutive year after three years of decline. Total imports indicated a perceptible expansion from 2012 to 2023: its volume 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, imports increased by X% against 2018 indices. The pace of growth appeared the most rapid in 2019 when imports increased by X%. The volume of import peaked in 2023 and is expected to retain growth in the immediate term.

In value terms, lathe for removing metal imports soared to $X in 2023. In general, imports recorded a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of X% against the previous year. The level of import peaked in 2023 and is likely to continue growth in years to come.

Imports by Country

In 2023, Turkey (X units) was the largest importer of lathes for removing metal, making up X% of total imports. The United Arab Emirates (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Iran (X%). Qatar (X units), Iraq (X units), Israel (X units) and Yemen (X units) followed a long way behind the leaders.

Imports into Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Yemen (X%), Iran (X%) and Iraq (X%) displayed positive paces of growth. Moreover, Yemen emerged as the fastest-growing importer imported in the Middle East, with a CAGR of X% from 2012-2023. By contrast, the United Arab Emirates (X%), Qatar (X%) and Israel (X%) illustrated a downward trend over the same period. From 2012 to 2023, the share of Turkey and Iran increased by X and X percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported lathes for removing metal in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Israel, with a X% share.

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

Import Prices by Country

In 2023, the import price in the Middle East amounted to $X per unit, rising by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The pace of growth appeared the most rapid in 2016 an increase of X% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2023, import prices failed to regain momentum.

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 Israel ($X per unit), while Iraq ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform