Kuwait: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Kuwait

The Kuwaiti market for bearing housings incorporating ball or roller bearings fell rapidly to $X in 2022, which is down by -24.4% 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, however, recorded a prominent increase. Over the period under review, the market attained the maximum level at $X in 2021, and then dropped rapidly in the following year.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Kuwait

In 2022, approx. X kg of bearing housings incorporating ball or roller bearings were exported from Kuwait; falling by -7.9% on 2021. Over the period under review, exports saw a abrupt descent. The pace of growth was the most pronounced in 2019 when exports increased by 208%. Over the period under review, the exports hit record highs at X tons in 2013; however, from 2014 to 2022, the exports remained at a lower figure.

In value terms, bearing housing with ball bearing exports plummeted to $X in 2022. In general, exports recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 with an increase of 163%. The exports peaked at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Qatar (X kg) was the main destination for bearing housing with ball bearing exports from Kuwait, accounting for a 60% share of total exports. Moreover, bearing housing with ball bearing exports to Qatar exceeded the volume sent to the second major destination, Oman (X kg), fourfold. The third position in this ranking was taken by Iran (X kg), with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Qatar totaled +9.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-5.0% per year) and Iran (+31.6% per year).

In value terms, Qatar ($X), Saudi Arabia ($X) and Oman ($X) were the largest markets for bearing housing with ball bearing exported from Kuwait worldwide, together comprising 70% of total exports. Germany, Bahrain, Iran and the United Arab Emirates lagged somewhat behind, together accounting for a further 30%.

In terms of the main countries of destination, Germany, with a CAGR of +46.8%, 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

In 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, declining by -11.5% against the previous year. Overall, the export price, however, saw a resilient increase. The most prominent rate of growth was recorded in 2014 an increase of 80%. Over the period under review, the average export prices attained the maximum at $X per ton in 2021, and then declined in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Iran ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+34.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Kuwait

In 2022, approx. X tons of bearing housings incorporating ball or roller bearings were imported into Kuwait; falling by -29.4% against the previous year. Over the period under review, imports, however, posted a remarkable increase. The growth pace was the most rapid in 2016 with an increase of 232% against the previous year. Imports peaked at X tons in 2021, and then dropped remarkably in the following year.

In value terms, bearing housing with ball bearing imports contracted sharply to $X in 2022. In general, imports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2016 when imports increased by 200% against the previous year. Imports peaked at $X in 2021, and then reduced markedly in the following year.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of bearing housing with ball bearing to Kuwait, with a 44% share of total imports. Moreover, bearing housing with ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Mexico (X tons), twofold. The third position in this ranking was taken by the United States (X tons), with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at +55.3%. The remaining supplying countries recorded the following average annual rates of imports growth: Mexico (+25.8% per year) and the United States (+5.7% per year).

In value terms, Mexico ($X), China ($X) and the United States ($X) were the largest bearing housing with ball bearing suppliers to Kuwait, together comprising 55% of total imports. India, Italy, Germany, the UK, Jordan and Japan lagged somewhat behind, together comprising a further 34%.

India, with a CAGR of +59.0%, 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

The average import price for bearing housings incorporating ball or roller bearings stood at $X per ton in 2022, picking up by 13% against the previous year. Over the period under review, the import price, however, recorded a mild slump. The pace of growth appeared the most rapid in 2013 when the average import price increased by 17% against the previous year. As a result, import price attained the peak level of $X per ton. From 2014 to 2022, the average import prices remained at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Italy ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Jordan (+41.8%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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