GCC: Cylindrical Roller Bearing Market 2024

Cylindrical Roller Bearing Exports

Exports in GCC

In 2022, overseas shipments of cylindrical roller bearings were finally on the rise to reach X tons for the first time since 2018, thus ending a three-year declining trend. Over the period under review, exports posted a resilient increase. The most prominent rate of growth was recorded in 2017 when exports increased by 241% against the previous year. The volume of export peaked at X tons in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, cylindrical roller bearing exports declined modestly to $X in 2022. In general, exports recorded buoyant growth. The most prominent rate of growth was recorded in 2017 when exports increased by 195% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, recording X tons, which was approx. 96% of total exports in 2022. Bahrain (X tons) held a little share of total exports.

The United Arab Emirates was also the fastest-growing in terms of the cylindrical roller bearings exports, with a CAGR of +7.3% from 2012 to 2022. At the same time, Bahrain (+5.1%) displayed positive paces of growth. The United Arab Emirates (+3.2 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 ($X) remains the largest cylindrical roller bearing supplier in GCC, comprising 89% of total exports. The second position in the ranking was held by Bahrain ($X), with a 3.3% share of total exports.

In the United Arab Emirates, cylindrical roller bearing exports increased at an average annual rate of +7.2% over the period from 2012-2022.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, reducing by -23.2% against the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 when the export price increased by 79% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the export prices remained at a 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 Bahrain ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+16.3%).

Cylindrical Roller Bearing Imports

Imports in GCC

After three years of growth, supplies from abroad of cylindrical roller bearings decreased by -1.3% to X tons in 2022. Total imports indicated a resilient expansion from 2012 to 2022: its volume increased at an average annual rate of +5.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +96.6% against 2016 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 38%. The volume of import peaked at X tons in 2021, and then declined slightly in the following year.

In value terms, cylindrical roller bearing imports reduced to $X in 2022. Total imports indicated a prominent increase from 2012 to 2022: its value increased at an average annual rate of +6.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +36.5% against 2014 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 29%. The level of import peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main importer of cylindrical roller bearings, mixing up 61% of total imports. Saudi Arabia (X tons) took the second position in the ranking, distantly followed by Oman (X tons). All these countries together took approx. 34% share of total imports. The following importers - Kuwait (X tons) and Qatar (X tons) - each amounted to a 3.7% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to cylindrical roller bearing imports into the United Arab Emirates stood at +8.4%. At the same time, Oman (+16.2%), Kuwait (+13.0%) and Qatar (+3.6%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +16.2% from 2012-2022. Saudi Arabia experienced a relatively flat trend pattern. The United Arab Emirates (+14 p.p.) and Oman (+2.9 p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by -17.3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported cylindrical roller bearings in GCC, comprising 58% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with a 29% share of total imports. It was followed by Qatar, with a 4.4% share.

In the United Arab Emirates, cylindrical roller bearing imports increased at an average annual rate of +5.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (+7.0% per year) and Qatar (+11.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, which is down by -6.5% against the previous year. Overall, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2016 an increase of 26%. As a result, import price reached the peak level of $X per ton. From 2017 to 2022, the import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+7.6%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform