GCC: Tools For Bearing Market 2025

Tools For Bearing Market Size in GCC

The GCC tools for bearing market dropped slightly to $X in 2022, with a decrease of -4.7% against the previous year. Over the period under review, consumption, however, showed a prominent expansion. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Tools For Bearing Production in GCC

In value terms, tools for bearing production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2017 with an increase of 81% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production remained at a lower figure.

Tools For Bearing Exports

Exports in GCC

In 2022, the amount of balls, needles and rollers for ball or roller bearings exported in GCC reduced sharply to X tons, with a decrease of -33.5% against the previous year. Overall, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 with an increase of 256% against the previous year. As a result, the exports reached the peak of X tons. From 2016 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, tools for bearing exports reduced dramatically to $X in 2022. Over the period under review, exports, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2015 when exports increased by 717% against the previous year. As a result, the exports attained 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 prevails in exports structure, accounting for X tons, which was approx. 94% of total exports in 2022. The following exporters - Saudi Arabia (X tons) and Oman (X tons) - each reached a 3.9% share of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of balls, needles and rollers for ball or roller bearings. At the same time, Oman (+23.9%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in GCC, with a CAGR of +23.9% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. The United Arab Emirates (+4.5 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 ($X) remains the largest tools for bearing supplier in GCC, comprising 93% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 4.3% share of total exports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +10.8%. In the other countries, the average annual rates were as follows: Saudi Arabia (+9.6% per year) and Oman (+13.6% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, growing by 5.2% against the previous year. Over the period under review, the export price posted a buoyant increase. The most prominent rate of growth was recorded in 2015 when the export price increased by 129% against the previous year. As a result, the export price reached the peak level of $X per ton. From 2016 to 2022, the export prices remained at a somewhat lower figure.

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 Saudi Arabia ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+9.9%), while the other leaders experienced mixed trends in the export price figures.

Tools For Bearing Imports

Imports in GCC

Tools for bearing imports shrank to X tons in 2022, which is down by -14% on the previous year. Over the period under review, imports continue to indicate a mild downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 159% against the previous year. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, tools for bearing imports shrank markedly to $X in 2022. Overall, imports, however, saw a temperate increase. The pace of growth appeared the most rapid in 2020 with an increase of 79%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the major importing country with an import of about X tons, which recorded 65% of total imports. Oman (X tons) held a 22% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (6.7%). The following importers - Qatar (X tons) and Bahrain (X tons) - together made up 6.3% of total imports.

Imports into the United Arab Emirates decreased at an average annual rate of -3.5% from 2012 to 2022. At the same time, Oman (+15.9%), Qatar (+7.4%), Kuwait (+2.5%) and Bahrain (+1.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +15.9% from 2012-2022. From 2012 to 2022, the share of Oman, Qatar and Kuwait increased by +18, +2.3 and +2.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Oman ($X) and Kuwait ($X) were the countries with the highest levels of imports in 2022, with a combined 87% share of total imports. Qatar and Bahrain lagged somewhat behind, together accounting for a further 13%.

Qatar, with a CAGR of +21.0%, recorded the highest rates of growth with regard to the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, falling by -21.5% against the previous year. Overall, the import price, however, showed prominent growth. The growth pace was the most rapid in 2020 an increase of 204%. Over the period under review, import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

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 Kuwait ($X per ton), while the United Arab Emirates ($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 (+12.7%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform