GCC: Grinding Machine Market 2024

Grinding Machine Market Size in GCC

The GCC grinding machine market contracted significantly to $X in 2023, waning by X% against the previous year. Overall, consumption saw a abrupt contraction. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption stood at a somewhat lower figure.

Grinding Machine Production in GCC

In value terms, grinding machine production dropped slightly to $X in 2023 estimated in export price. Over the period under review, production, however, saw a resilient increase. The pace of growth appeared the most rapid in 2017 with an increase of X%. As a result, production reached the peak level of $X. From 2018 to 2023, production growth remained at a somewhat lower figure.

Grinding Machine Exports

Exports in GCC

Grinding machine exports surged to X units in 2023, growing by X% compared with the previous year's figure. In general, exports showed a significant increase. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports hit record highs in 2023 and are likely to see steady growth in the immediate term.

In value terms, grinding machine exports shrank to $X in 2023. Overall, exports enjoyed resilient growth. The most prominent rate of growth was recorded in 2017 with an increase of X%. The level of export peaked at $X in 2020; however, from 2021 to 2023, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) represented roughly X% of total exports in 2023.

The United Arab Emirates was also the fastest-growing in terms of the machines having individual functions, for mixing, kneading, crushing or grinding exports, with a CAGR of X% from 2012 to 2023. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest grinding machine supplier in GCC.

From 2012 to 2023, the average annual growth rate of value in the United Arab Emirates stood at X%.

Export Prices by Country

In 2023, the export price in GCC amounted to $X per unit, dropping by X% against the previous year. In general, the export price recorded a deep setback. The most prominent rate of growth was recorded in 2019 an increase of X% against the previous year. The level of export peaked at $X per unit in 2014; however, from 2015 to 2023, the export prices stood at a somewhat lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2023, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Grinding Machine Imports

Imports in GCC

In 2023, approx. X units of machines having individual functions, for mixing, kneading, crushing or grinding were imported in GCC; with a decrease of X% on 2022 figures. In general, imports, however, posted a tangible expansion. The pace of growth appeared the most rapid in 2016 when imports increased by X% against the previous year. As a result, imports attained the peak of X units. From 2017 to 2023, the growth of imports failed to regain momentum.

In value terms, grinding machine imports surged to $X in 2023. Overall, imports showed a perceptible setback. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2023, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates was the main importer of machines having individual functions, for mixing, kneading, crushing or grinding in GCC, with the volume of imports recording X units, which was approx. X% of total imports in 2023. It was distantly followed by Qatar (X units), Oman (X units) and Kuwait (X units), together committing a X% share of total imports. Bahrain (X units) followed a long way behind the leaders.

From 2012 to 2023, average annual rates of growth with regard to grinding machine imports into the United Arab Emirates stood at X%. At the same time, Qatar (X%) and Kuwait (X%) displayed positive paces of growth. Moreover, Qatar emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2023. Oman experienced a relatively flat trend pattern. By contrast, Bahrain (X%) illustrated a downward trend over the same period. While the share of Qatar (X p.p.) increased significantly in terms of the total imports from 2012-2023, the share of Oman (X p.p.) and Bahrain (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported machines having individual functions, for mixing, kneading, crushing or grinding in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports. It was followed by Qatar, with an X% share.

In the United Arab Emirates, grinding machine imports decreased by an average annual rate of X% over the period from 2012-2023. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Qatar (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2023, with an increase of X% against the previous year. In general, the import price, however, continues to indicate a abrupt downturn. Over the period under review, import prices attained the peak figure at $X per unit in 2014; however, from 2015 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 Bahrain ($X per unit), while Qatar ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform