Kuwait: Wood Bending Machine Market 2024

Wood Bending Machine Market Size in Kuwait

The Kuwaiti wood bending machine market surged to $X in 2021, picking up by 38% against the previous year. Over the period under review, consumption showed significant growth. Over the period under review, the market attained the maximum level in 2021 and is expected to retain growth in the immediate term.

Wood Bending Machine Production in Kuwait

In value terms, wood bending machine production totaled $X in 2021 estimated in export price. Over the period under review, production continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2019 when the production volume increased by 47%. As a result, production attained the peak level of $X. From 2020 to 2021, production growth remained at a somewhat lower figure.

Wood Bending Machine Exports

Exports from Kuwait

In 2021, wood bending machine exports from Kuwait totaled X units, therefore, remained relatively stable against 2020 figures. Over the period under review, exports recorded a significant expansion. The pace of growth was the most pronounced in 2013 when exports increased by 500%. The exports peaked in 2021 and are expected to retain growth in years to come.

In value terms, wood bending machine exports rose slightly to $X in 2021. In general, exports continue to indicate a resilient increase. The pace of growth appeared the most rapid in 2019 with an increase of 308% against the previous year. The exports peaked at $X in 2013; however, from 2014 to 2021, the exports remained at a lower figure.

Exports by Country

Spain (X units) was the main destination for wood bending machine exports from Kuwait, with a 87% share of total exports. Moreover, wood bending machine exports to Spain exceeded the volume sent to the second major destination, Saudi Arabia (X units), sevenfold.

From 2012 to 2021, the average annual growth rate of volume to Spain was relatively modest.

In value terms, Spain ($X) emerged as the key foreign market for bending or assembling machines exports from Kuwait, comprising 97% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 3.1% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Spain totaled +1,175.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-0.6% per year) and the United Arab Emirates (-42.8% per year).

Export Prices by Country

The average wood bending machine export price stood at $X per unit in 2021, surging by 2.9% against the previous year. In general, the export price, however, faced a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 an increase of 13% against the previous year. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Spain (+87.9%), while the prices for the other major destinations experienced mixed trend patterns.

Wood Bending Machine Imports

Imports into Kuwait

In 2021, supplies from abroad of bending or assembling machines increased by 14% to X units, rising for the third year in a row after two years of decline. Overall, imports showed significant growth. The most prominent rate of growth was recorded in 2019 with an increase of 360%. Over the period under review, imports reached the maximum in 2021 and are expected to retain growth in years to come.

In value terms, wood bending machine imports rose remarkably to $X in 2021. In general, imports continue to indicate a buoyant increase. The growth pace was the most rapid in 2019 with an increase of 285%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

Imports by Country

In 2021, Taiwan (Chinese) (X units) constituted the largest wood bending machine supplier to Kuwait, with a 35% share of total imports. Moreover, wood bending machine imports from Taiwan (Chinese) exceeded the figures recorded by the second-largest supplier, Thailand (X units), twofold. Egypt (X units) ranked third in terms of total imports with an 8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Taiwan (Chinese) totaled +91.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Thailand (+22.4% per year) and Egypt (+56.5% per year).

In value terms, China ($X), Italy ($X) and Turkey ($X) constituted the largest wood bending machine suppliers to Kuwait, together accounting for 46% of total imports.

In terms of the main suppliers, China, with a CAGR of +103.1%, saw the highest rates of growth with regard to 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 wood bending machine import price stood at $X per unit in 2021, remaining constant against the previous year. In general, the import price, however, continues to indicate a abrupt setback. The pace of growth was the most pronounced in 2017 when the average import price increased by 6% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+96.5%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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