Kuwait: Market for Turbo, Rotary and Reciporating Displacement Compressors 2024

Market Size for Turbo, Rotary and Reciporating Displacement Compressors in Kuwait

The Kuwaiti market for turbo, rotary and reciporating displacement compressors skyrocketed to $X in 2022, growing by 335% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption enjoyed a temperate expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Turbo, Rotary and Reciporating Displacement Compressors

Exports from Kuwait

In 2022, exports of turbo, rotary and reciporating displacement compressors from Kuwait dropped rapidly to X units, waning by -40.2% on 2021 figures. In general, exports showed a abrupt contraction. The pace of growth was the most pronounced in 2017 with an increase of 208%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports of failed to regain momentum.

In value terms, exports of turbo, rotary and reciporating displacement compressors reduced to $X in 2022. Over the period under review, exports saw a abrupt descent. The most prominent rate of growth was recorded in 2017 when exports increased by 232% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports of remained at a lower figure.

Exports by Country

Saudi Arabia (X units) was the main destination for exports of turbo, rotary and reciporating displacement compressors from Kuwait, with a 69% share of total exports. Moreover, exports of turbo, rotary and reciporating displacement compressors to Saudi Arabia exceeded the volume sent to the second major destination, Iraq (X units), more than tenfold. The Netherlands (X units) ranked third in terms of total exports with a 3.1% share.

From 2012 to 2022, the average annual growth rate of volume to Saudi Arabia totaled -10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Iraq (-25.5% per year) and the Netherlands (-8.1% per year).

In value terms, Saudi Arabia ($X) remains the key foreign market for turbo, rotary and reciporating displacement compressors exports from Kuwait, comprising 78% of total exports. The second position in the ranking was held by Germany ($X), with a 5.5% share of total exports. It was followed by the United Arab Emirates, with a 3% share.

From 2012 to 2022, the average annual rate of growth in terms of value to Saudi Arabia stood at -3.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (-22.1% per year) and the United Arab Emirates (+22.6% per year).

Export Prices by Country

The average export price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, surging by 58% against the previous year. Overall, export price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to South Korea ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to South Africa (+30.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Turbo, Rotary and Reciporating Displacement Compressors

Imports into Kuwait

In 2022, imports of turbo, rotary and reciporating displacement compressors into Kuwait surged to X units, rising by 396% against the previous year's figure. In general, imports saw a remarkable increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.

In value terms, imports of turbo, rotary and reciporating displacement compressors soared to $X in 2022. Over the period under review, imports, however, continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2017 with an increase of 227% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports of failed to regain momentum.

Imports by Country

In 2022, China (X units) was the main turbo, rotary and reciporating displacement compressor supplier to Kuwait, with a 94% share of total imports. It was followed by Italy (X units), with a 1.8% share of total imports. The third position in this ranking was taken by India (X units), with a 1% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +37.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (-24.5% per year) and India (+5.0% per year).

In value terms, China ($X) constituted the largest supplier of turbo, rotary and reciporating displacement compressors to Kuwait, comprising 67% of total imports. The second position in the ranking was taken by Germany ($X), with a 7.4% share of total imports. It was followed by India, with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value from China stood at +31.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (-9.3% per year) and India (-2.4% per year).

Import Prices by Country

The average import price for turbo, rotary and reciporating displacement compressors stood at $X per unit in 2022, which is down by -75.9% against the previous year. Overall, the import price continues to indicate a dramatic decline. The most prominent rate of growth was recorded in 2017 when the average import price increased by 36% against the previous year. The import price peaked at $X per unit in 2019; however, from 2020 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 Germany ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Japan (+7.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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