Kuwait: Bearing Market 2025

Bearing Market Size in Kuwait

The Kuwaiti bearing market expanded markedly to $X in 2021, surging by 11% 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). The market value increased at an average annual rate of +2.8% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Over the period under review, the market attained the maximum level at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Bearing Exports

Exports from Kuwait

In 2021, overseas shipments of ball and roller bearings decreased by -26.8% to X tons, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a abrupt descent. The pace of growth was the most pronounced in 2019 when exports increased by 149%. The exports peaked at X tons in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

In value terms, bearing exports reduced remarkably to $X in 2021. Over the period under review, exports continue to indicate a noticeable shrinkage. The pace of growth was the most pronounced in 2019 with an increase of 251% against the previous year. The exports peaked at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

Belgium (X kg) was the main destination for bearing exports from Kuwait, with a 13% share of total exports. Moreover, bearing exports to Belgium exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), twofold. The third position in this ranking was held by Oman (X kg), with a 4.6% share.

From 2012 to 2020, the average annual growth rate of volume to Belgium totaled +105.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+19.7% per year) and Oman (+80.8% per year).

In value terms, the largest markets for bearing exported from Kuwait were Belgium ($X), the United Arab Emirates ($X) and Oman ($X), with a combined 88% share of total exports.

In terms of the main countries of destination, Belgium, with a CAGR of +134.4%, recorded the highest rates of growth with regard to 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

The average bearing export price stood at $X per ton in 2020, falling by -4% against the previous year. In general, the export price, however, enjoyed a strong expansion. The growth pace was the most rapid in 2018 when the average export price increased by 78%. The export price peaked at $X per ton in 2015; however, from 2016 to 2020, 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 the United Arab Emirates ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was recorded for supplies to Belgium (+14.6%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into Kuwait

In 2021, overseas purchases of ball and roller bearings decreased by -1% to X tons, falling for the third consecutive year after two years of growth. Overall, total imports indicated tangible growth from 2012 to 2021: its volume increased at an average annual rate of +2.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -30.5% against 2018 indices. The most prominent rate of growth was recorded in 2017 with an increase of 72%. Over the period under review, imports attained the peak figure at X tons in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, bearing imports soared to $X in 2021. The total import value increased at an average annual rate of +3.0% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2017 when imports increased by 44%. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2021, imports failed to regain momentum.

Imports by Country

Singapore (X tons), the United States (X tons) and Japan (X tons) were the main suppliers of bearing imports to Kuwait, with a combined 23% share of total imports. Germany, China, India, Thailand, France, the UK, Italy, Poland, Mexico and Canada lagged somewhat behind, together comprising a further 28%.

From 2012 to 2020, the biggest increases were recorded for Poland (with a CAGR of +169.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest bearing suppliers to Kuwait were Singapore ($X), the United States ($X) and Japan ($X), with a combined 50% share of total imports. Germany, China, India, Thailand, France, the UK, Italy, Poland, Mexico and Canada lagged somewhat behind, together comprising a further 62%.

Poland, with a CAGR of +214.6%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2020, the average bearing import price amounted to $X per ton, with an increase of 17% against the previous year. In general, the import price, however, showed a slight curtailment. The import price peaked at $X per ton in 2012; however, from 2013 to 2020, import prices failed to regain momentum.

Average prices varied noticeably amongst the major supplying countries. In 2020, amid the top importers, the countries with the highest prices were Poland ($X per ton) and Mexico ($X per ton), while the price for the UK ($X per ton) and Italy ($X per ton) were amongst the lowest.

From 2012 to 2020, the most notable rate of growth in terms of prices was attained by Poland (+15.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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