Middle East: Machine-Tool For Drilling Market 2024

Machine-Tool For Drilling Market Size in the Middle East

The Middle Eastern machine-tool for drilling market reduced markedly to $X in 2023, which is down by X% against the previous year. In general, consumption, however, showed a prominent increase. As a result, consumption reached the peak level of $X, and then declined significantly in the following year.

Machine-Tool For Drilling Production in the Middle East

In value terms, machine-tool for drilling production dropped significantly to $X in 2023 estimated in export price. Overall, production, however, enjoyed strong growth. The pace of growth appeared the most rapid in 2022 with an increase of X%. The level of production peaked at $X in 2020; however, from 2021 to 2023, production failed to regain momentum.

Machine-Tool For Drilling Exports

Exports in the Middle East

In 2023, after two years of decline, there was significant growth in overseas shipments of machine-tools for drilling, boring or milling metal, when their volume increased by X% to X units. In general, exports showed a slight increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. The volume of export peaked at X units in 2020; however, from 2021 to 2023, the exports remained at a lower figure.

In value terms, machine-tool for drilling exports soared to $X in 2023. Overall, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2018 with an increase of X% against the previous year. The level of export peaked at $X in 2013; however, from 2014 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

Turkey (X units) and the United Arab Emirates (X units) prevails in exports structure, together creating X% of total exports. Oman (X units) took a X% share (based on physical terms) of total exports, which put it in second place, followed by Kuwait (X%). Saudi Arabia (X units), Lebanon (X units) and Israel (X units) followed a long way behind the leaders.

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

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

In Turkey, machine-tool for drilling exports expanded at an average annual rate of X% over the period from 2012-2023. 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 the Middle East stood at $X per unit in 2023, rising by X% against the previous year. Overall, the export price, however, saw a deep contraction. The pace of growth appeared the most rapid in 2021 an increase of X%. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 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 Turkey ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

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

Machine-Tool For Drilling Imports

Imports in the Middle East

In 2023, supplies from abroad of machine-tools for drilling, boring or milling metal increased by X% to X units, rising for the fourth consecutive year after two years of decline. In general, imports, however, recorded a pronounced decline. The pace of growth was the most pronounced in 2017 when imports increased by X%. As a result, imports reached the peak of X units. From 2018 to 2023, the growth of imports remained at a somewhat lower figure.

In value terms, machine-tool for drilling imports surged to $X in 2023. Over the period under review, imports, however, saw a perceptible decline. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2012; however, from 2013 to 2023, imports stood at a somewhat lower figure.

Imports by Country

The purchases of the three major importers of machine-tools for drilling, boring or milling metal, namely the United Arab Emirates, Turkey and Iraq, represented more than two-thirds of total import. It was distantly followed by Iran (X units), committing a X% share of total imports. Israel (X units), Kuwait (X units) and Oman (X units) took a relatively small share of total imports.

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

In value terms, Turkey ($X) constitutes the largest market for imported machine-tools for drilling, boring or milling metal in the Middle East, comprising X% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an X% share of total imports. It was followed by Iran, with a X% share.

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

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2023, with an increase of X% against the previous year. Over the period under review, the import price continues to indicate 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 hit record highs at $X per unit in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.

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

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

Source: IndexBox Platform