Kuwait: Market for Vacuum Pumps and Air or Gas Compressors 2024

Market Size for Vacuum Pumps and Air or Gas Compressors in Kuwait

In 2022, the Kuwaiti market for vacuum pumps and air or gas compressors increased by 30% to $X, rising for the second consecutive year after three years of decline. Overall, consumption, however, recorded a pronounced decrease. As a result, consumption attained the peak level of $X. From 2018 to 2022, the growth of the market remained at a lower figure.

Exports of Vacuum Pumps and Air or Gas Compressors

Exports from Kuwait

In 2022, after two years of growth, there was significant decline in overseas shipments of vacuum pumps and air or gas compressors, when their volume decreased by -7.1% to X units. In general, exports showed a noticeable shrinkage. The pace of growth was the most pronounced in 2017 with an increase of 113%. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of vacuum pumps and air or gas compressors declined to $X in 2022. Overall, exports continue to indicate a perceptible decrease. The pace of growth was the most pronounced in 2017 with an increase of 78% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

Saudi Arabia (X units), Iran (X units) and Qatar (X units) were the main destinations of exports of vacuum pumps and air or gas compressors from Kuwait, together comprising 53% of total exports. India, Turkey, the United Arab Emirates, Ghana and South Korea lagged somewhat behind, together accounting for a further 31%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Ghana (with a CAGR of +21.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for vacuum pump and air or gas compressor exported from Kuwait were Saudi Arabia ($X), the United Arab Emirates ($X) and Qatar ($X), together comprising 78% of total exports. South Korea, Iran, India, Turkey and Ghana lagged somewhat behind, together comprising a further 13%.

In terms of the main countries of destination, Turkey, with a CAGR of +33.5%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average export price for vacuum pumps and air or gas compressors amounted to $X per unit, which is down by -3.3% against the previous year. In general, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2019 an increase of 82% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2020 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was South Korea ($X per unit), while the average price for exports to Ghana ($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 Korea (+34.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Vacuum Pumps and Air or Gas Compressors

Imports into Kuwait

Imports of vacuum pumps and air or gas compressors into Kuwait skyrocketed to X units in 2022, jumping by 63% against 2021. In general, imports enjoyed a notable increase. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, imports of vacuum pumps and air or gas compressors reached $X in 2022. Overall, imports, however, showed a abrupt slump. The most prominent rate of growth was recorded in 2017 when imports increased by 112% against the previous year. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports of remained at a lower figure.

Imports by Country

In 2022, China (X units) constituted the largest supplier of vacuum pump and air or gas compressor to Kuwait, with a 67% share of total imports. Moreover, imports of vacuum pumps and air or gas compressors from China exceeded the figures recorded by the second-largest supplier, the United States (X units), more than tenfold. The third position in this ranking was held by Thailand (X units), with a 5.4% share.

From 2012 to 2022, the average annual growth rate of volume from China stood at +14.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+6.0% per year) and Thailand (+11.5% per year).

In value terms, the largest vacuum pump and air or gas compressor suppliers to Kuwait were China ($X), the United States ($X) and Thailand ($X), with a combined 67% share of total imports.

In terms of the main suppliers, China, with a CAGR of +21.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for vacuum pumps and air or gas compressors amounted to $X per unit, falling by -36.9% against the previous year. Overall, the import price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2017 an increase of 64%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Jordan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+7.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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