Kuwait: Market for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings 2024

Market Size for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings in Kuwait

The Kuwaiti market for bearing housings not incorporating ball or roller bearings, plain shaft bearings expanded markedly to $X in 2021, picking up 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). Overall, the total consumption indicated mild growth from 2012 to 2021: its value increased at an average annual rate of +1.8% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -23.4% against 2019 indices. As a result, consumption reached the peak level of $X. From 2016 to 2021, the growth of the market remained at a somewhat lower figure.

Exports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Exports from Kuwait

In 2021, the amount of bearing housings not incorporating ball or roller bearings, plain shaft bearings exported from Kuwait skyrocketed to X tons, rising by 18% compared with the previous year's figure. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2015 when exports increased by 2,704%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

In value terms, bearing housing without ball bearing exports expanded notably to $X in 2021. In general, exports saw a significant increase. The pace of growth appeared the most rapid in 2015 when exports increased by 1,070%. Over the period under review, the exports attained the peak figure at $X in 2018; however, from 2019 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Belgium (X tons), Saudi Arabia (X tons) and the United Arab Emirates (X tons) were the main destinations of bearing housing without ball bearing exports from Kuwait, with a combined 81% share of total exports.

From 2012 to 2021, the biggest increases were recorded for Belgium (with a CAGR of +109.1%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) remains the key foreign market for bearing housings not incorporating ball or roller bearings, plain shaft bearings exports from Kuwait, comprising 51% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 20% share of total exports. It was followed by Saudi Arabia, with a 13% share.

From 2012 to 2021, the average annual growth rate of value to Belgium totaled +102.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+63.7% per year) and Saudi Arabia (+52.0% per year).

Export Prices by Country

In 2021, the average export price for bearing housings not incorporating ball or roller bearings, plain shaft bearings amounted to $X per ton, which is down by -6.6% against the previous year. Overall, the export price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2017 when the average export price increased by 49%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, 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 ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Saudi Arabia (+9.3%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Imports into Kuwait

In 2021, the amount of bearing housings not incorporating ball or roller bearings, plain shaft bearings imported into Kuwait rose sharply to X tons, with an increase of 5.4% on the year before. Over the period under review, total imports indicated a slight expansion from 2012 to 2021: its volume increased at an average annual rate of +1.9% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -29.3% against 2019 indices. The most prominent rate of growth was recorded in 2015 when imports increased by 50% against the previous year. Imports peaked at X tons in 2019; however, from 2020 to 2021, imports failed to regain momentum.

In value terms, bearing housing without ball bearing imports soared to $X in 2021. Overall, total imports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +4.4% 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 -2.2% against 2019 indices. The growth pace was the most rapid in 2015 when imports increased by 79%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

China (X tons), Germany (X tons) and the United States (X tons) were the main suppliers of bearing housing without ball bearing imports to Kuwait, together accounting for 32% of total imports. Japan, Poland, Mexico, Australia, Turkey, India, Taiwan (Chinese), Canada, South Africa and the UK lagged somewhat behind, together accounting for a further 30%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Taiwan (Chinese) (with a CAGR of +17.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Japan ($X) appeared to be the largest bearing housing without ball bearing suppliers to Kuwait, together accounting for 42% of total imports. The UK, India, Canada, China, Taiwan (Chinese), Mexico, Poland, Turkey, Australia and South Africa lagged somewhat behind, together accounting for a further 14%.

Among the main suppliers, the UK, with a CAGR of +20.4%, 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

The average import price for bearing housings not incorporating ball or roller bearings, plain shaft bearings stood at $X per ton in 2021, growing by 13% against the previous year. Over the last nine years, it increased at an average annual rate of +2.4%. The pace of growth appeared the most rapid in 2020 an increase of 23% against the previous year. The import price peaked in 2021 and is likely to continue growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was the UK ($X per ton), while the price for Poland ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+11.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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