GCC: Endless Machinery Band Market 2024

Endless Machinery Band Market Size in GCC

The GCC endless machinery band market soared to $X in 2023, with an increase of X% against the previous year. In general, consumption, however, showed a drastic downturn. Over the period under review, the market reached the peak level at $X in 2012; however, from 2013 to 2023, consumption failed to regain momentum.

Endless Machinery Band Production in GCC

In value terms, endless machinery band production expanded markedly to $X in 2023 estimated in export price. The total production indicated a resilient expansion 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 decreased by X% against 2021 indices. The most prominent rate of growth was recorded in 2021 when the production volume increased by X% against the previous year. As a result, production reached the peak level of $X. From 2022 to 2023, production growth remained at a lower figure.

Endless Machinery Band Exports

Exports in GCC

In 2023, approx. X square meters of endless bands for machinery, of stainless steel were exported in GCC; falling by X% compared with 2022 figures. In general, exports, however, continue to indicate a resilient expansion. The growth pace was the most rapid in 2022 with an increase of X% against the previous year. As a result, the exports attained the peak of X square meters, and then contracted in the following year.

In value terms, endless machinery band exports dropped dramatically to $X in 2023. Over the period under review, exports, however, enjoyed a buoyant increase. The pace of growth appeared the most rapid in 2022 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X, and then declined significantly in the following year.

Exports by Country

The United Arab Emirates was the largest exporting country with an export of around X square meters, which amounted to X% of total exports. It was distantly followed by Oman (X square meters), comprising a X% share of total exports. Kuwait (X square meters) took a minor share of total exports.

From 2012 to 2023, average annual rates of growth with regard to endless machinery band exports from the United Arab Emirates stood at X%. At the same time, Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2023. While the share of the United Arab Emirates (X p.p.) increased significantly in terms of the total exports from 2012-2023, the share of Oman (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 ($X) remains the largest endless machinery band supplier in GCC, comprising X% of total exports. The second position in the ranking was held by Kuwait ($X), with a X% share of total exports.

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

Export Prices by Country

In 2023, the export price in GCC amounted to $X per square meter, declining by X% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 an increase of X%. The level of export peaked at $X per square meter in 2022, and then declined remarkably in the following year.

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 Kuwait ($X per square meter), while Oman ($X per square meter) 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 mixed trends in the export price figures.

Endless Machinery Band Imports

Imports in GCC

In 2023, imports of endless bands for machinery, of stainless steel in GCC skyrocketed to X square meters, increasing by X% against 2022. Overall, imports, however, continue to indicate a deep slump. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Over the period under review, imports reached the maximum at X square meters in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

In value terms, endless machinery band imports declined to $X in 2023. Over the period under review, imports enjoyed a tangible expansion. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2022, and then fell in the following year.

Imports by Country

Kuwait represented the main importing country with an import of around X square meters, which resulted at X% of total imports. Oman (X square meters) held the second position in the ranking, distantly followed by the United Arab Emirates (X square meters). All these countries together took approx. X% share of total imports.

Kuwait was also the fastest-growing in terms of the endless bands for machinery, of stainless steel imports, with a CAGR of X% from 2012 to 2023. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Oman (X%) illustrated a downward trend over the same period. While the share of Kuwait (X p.p.), Oman (X p.p.) and 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, Kuwait ($X) constitutes the largest market for imported endless bands for machinery, of stainless steel in GCC, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with an X% share of total imports.

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

Import Prices by Country

The import price in GCC stood at $X per square meter in 2023, declining by X% against the previous year. Over the period under review, the import price, however, enjoyed a significant increase. The most prominent rate of growth was recorded in 2022 when the import price increased by X%. As a result, import price attained the peak level of $X per square meter, and then contracted remarkably in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per square meter), while Oman ($X per square meter) 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