GCC: Steel Railway Material Market 2024

Steel Railway Material Market Size in GCC

The GCC steel railway material market shrank to $X in 2022, dropping by X% against the previous year. In general, consumption, however, continues to indicate a relatively flat trend pattern. The level of consumption peaked at $X in 2017; however, from 2018 to 2022, consumption remained at a lower figure.

Steel Railway Material Production in GCC

In value terms, steel railway material production soared to $X in 2022 estimated in export price. Over the period under review, production showed a significant expansion. The growth pace was the most rapid in 2020 with an increase of X%. As a result, production attained the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Steel Railway Material Exports

Exports in GCC

In 2022, approx. X tons of railway or tramway track construction material of iron or steel were exported in GCC; with a decrease of X% compared with 2021 figures. Over the period under review, exports saw a deep downturn. The most prominent rate of growth was recorded in 2021 when exports increased by X% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, steel railway material exports fell dramatically to $X in 2022. In general, exports showed a abrupt slump. The pace of growth was the most pronounced in 2013 when exports increased by X%. As a result, the exports reached the peak of $X. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Saudi Arabia was the main exporting country with an export of around X tons, which resulted at X% of total exports. It was distantly followed by the United Arab Emirates (X tons), mixing up a X% share of total exports.

Saudi Arabia was also the fastest-growing in terms of the railway or tramway track construction material of iron or steel exports, with a CAGR of X% from 2012 to 2022. The United Arab Emirates (X%) illustrated a downward trend over the same period. Saudi Arabia (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the largest steel railway material supplying countries in GCC were Saudi Arabia ($X) and the United Arab Emirates ($X).

In terms of the main exporting countries, Saudi Arabia, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, reducing by X% against the previous year. In general, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. The level of export peaked at $X per ton in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Saudi Arabia stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (X%).

Steel Railway Material Imports

Imports in GCC

In 2022, the amount of railway or tramway track construction material of iron or steel imported in GCC contracted significantly to X tons, with a decrease of X% against 2021 figures. In general, imports continue to indicate a deep slump. The most prominent rate of growth was recorded in 2015 when imports increased by X%. The volume of import peaked at X tons in 2016; however, from 2017 to 2022, imports failed to regain momentum.

In value terms, steel railway material imports shrank dramatically to $X in 2022. Overall, imports faced a abrupt curtailment. The most prominent rate of growth was recorded in 2015 with an increase of X%. As a result, imports attained the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the key importing country with an import of about X tons, which amounted to X% of total imports. It was distantly followed by Saudi Arabia (X tons), creating a X% share of total imports. Qatar (X tons), Bahrain (X tons) and Kuwait (X tons) took a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of X%), while purchases for the other leaders experienced a decline in the imports figures.

In value terms, Saudi Arabia ($X) constitutes the largest market for imported railway or tramway track construction material of iron or steel in GCC, comprising X% of total imports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total imports. It was followed by Qatar, with a X% share.

In Saudi Arabia, steel railway material imports contracted by an average annual rate of X% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (X% per year) and Qatar (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, surging by X% against the previous year. Overall, the import price continues to indicate a measured expansion. The growth pace was the most rapid in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the maximum in 2022 and is expected to retain growth in the immediate term.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Qatar ($X per ton), while the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2022, 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

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