Kuwait: Construction Equipment Blade Market 2024

Construction Equipment Blade Market Size in Kuwait

The Kuwaiti construction equipment blade market soared to $X in 2022, with an increase of 66% against the previous year. Overall, consumption, however, saw a abrupt shrinkage. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2022, consumption failed to regain momentum.

Construction Equipment Blade Production in Kuwait

In value terms, construction equipment blade production totaled $X in 2022 estimated in export price. Over the period under review, production saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 27% against the previous year. Construction equipment blade production peaked at $X in 2017; however, from 2018 to 2022, production remained at a lower figure.

Construction Equipment Blade Exports

Exports from Kuwait

After four years of growth, overseas shipments of blades for construction equipment decreased by -23.1% to X units in 2022. Overall, exports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 980% against the previous year. The exports peaked at X units in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, construction equipment blade exports shrank notably to $X in 2022. In general, exports, however, enjoyed a significant increase. The pace of growth was the most pronounced in 2020 when exports increased by 1,035% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

Exports by Country

Iraq (X units), the United Arab Emirates (X units) and Saudi Arabia (X units) were the main destinations of construction equipment blade exports from Kuwait, with a combined 99% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Iraq (with a CAGR of +69.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for blades for construction equipment exports from Kuwait, comprising 54% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 7.8% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +42.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+45.0% per year) and Iraq (+12.8% per year).

Export Prices by Country

In 2022, the average construction equipment blade export price amounted to $X per unit, stabilizing at the previous year. In general, the export price saw a pronounced slump. The growth pace was the most rapid in 2020 when the average export price increased by 73% against the previous year. The export price peaked at $X per unit in 2017; however, from 2018 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Iraq ($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 Saudi Arabia (+28.3%), while the prices for the other major destinations experienced a decline.

Construction Equipment Blade Imports

Imports into Kuwait

In 2022, approx. X units of blades for construction equipment were imported into Kuwait; rising by 67% on 2021 figures. In general, imports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2015 with an increase of 964%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, construction equipment blade imports soared to $X in 2022. Over the period under review, imports, however, showed a abrupt curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 588% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Japan (X units), Brazil (X units) and China (X units) were the main suppliers of construction equipment blade imports to Kuwait, with a combined 83% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Brazil (with a CAGR of +31.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Oman ($X) constituted the largest supplier of blades for construction equipment to Kuwait, comprising 36% of total imports. The second position in the ranking was held by Brazil ($X), with an 18% share of total imports. It was followed by South Korea, with a 10% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Oman stood at +24.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Brazil (+17.9% per year) and South Korea (+4.9% per year).

Import Prices by Country

In 2022, the average construction equipment blade import price amounted to $X per unit, rising by 25% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 an increase of 173%. As a result, import price reached the peak level of $X per unit. From 2015 to 2022, the average import prices remained 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 the United States ($X per unit), while the price for Japan ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+32.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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