Bahrain: Tools For Bearing Market 2024

Tools For Bearing Market Size in Bahrain

The Bahraini tools for bearing market reduced modestly to $X in 2022, waning by -3% against the previous year. Overall, the total consumption indicated a temperate increase from 2012 to 2022: its value increased at an average annual rate of +4.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +7.0% against 2020 indices. Tools for bearing consumption peaked at $X in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Tools For Bearing Production in Bahrain

In value terms, tools for bearing production shrank to $X in 2022 estimated in export price. Overall, production, however, saw a prominent expansion. The most prominent rate of growth was recorded in 2015 when the production volume increased by 93%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Tools For Bearing Exports

Exports from Bahrain

For the third consecutive year, Bahrain recorded growth in shipments abroad of balls, needles and rollers for ball or roller bearings, which increased by 32% to X kg in 2022. Over the period under review, exports posted strong growth. The pace of growth was the most pronounced in 2015 when exports increased by 33,134%. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a lower figure.

In value terms, tools for bearing exports skyrocketed to $X in 2022. In general, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2015 with an increase of 62,171% against the previous year. As a result, the exports reached the peak of $X. From 2016 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg), Denmark (X kg) and Saudi Arabia (X kg) were the main destinations of tools for bearing exports from Bahrain.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Denmark (with a CAGR of 0.0%), while the other leaders experienced a decline.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Denmark ($X) were the largest markets for tools for bearing exported from Bahrain worldwide.

The United Arab Emirates, with a CAGR of +75.3%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average tools for bearing export price stood at $X per ton in 2022, with an increase of 111% against the previous year. Over the period under review, the export price, however, showed a slight downturn. The most prominent rate of growth was recorded in 2014 when the average export price increased by 135%. Over the period under review, the average export prices attained the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per ton), while the average price for exports to Denmark ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (+88.5%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into Bahrain

In 2022, purchases abroad of balls, needles and rollers for ball or roller bearings increased by 218% to X tons, rising for the third year in a row after three years of decline. Over the period under review, imports saw a mild increase. The pace of growth appeared the most rapid in 2016 with an increase of 310%. Imports peaked at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, tools for bearing imports skyrocketed to $X in 2022. Overall, imports saw a strong increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

The United States (X tons), India (X tons) and Vietnam (X tons) were the main suppliers of tools for bearing imports to Bahrain, with a combined 56% share of total imports. China, Japan, Mexico, Italy and the United Arab Emirates lagged somewhat behind, together accounting for a further 35%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Mexico (with a CAGR of +122.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of balls, needles and rollers for ball or roller bearings to Bahrain, comprising 51% of total imports. The second position in the ranking was held by Vietnam ($X), with an 11% share of total imports. It was followed by India, with an 11% share.

From 2012 to 2022, the average annual growth rate of value from the United States totaled +13.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Vietnam (0.0% per year) and India (+51.3% per year).

Import Prices by Country

In 2022, the average tools for bearing import price amounted to $X per ton, with a decrease of -5.8% against the previous year. Overall, the import price, however, continues to indicate a prominent expansion. The pace of growth appeared the most rapid in 2017 an increase of 133%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+19.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform