Kuwait: Shaft Coupling Market 2024

Shaft Coupling Market Size in Kuwait

The Kuwaiti shaft coupling market dropped to $X in 2022, which is down by -14.5% 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). Over the period under review, the total consumption indicated a tangible increase from 2012 to 2022: its value increased at an average annual rate of +2.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +18.2% against 2020 indices. Over the period under review, the market reached the peak level at $X in 2021, and then dropped in the following year.

Shaft Coupling Exports

Exports from Kuwait

In 2022, approx. X tons of clutches and shaft couplings were exported from Kuwait; with a decrease of -25.6% on 2021. Over the period under review, exports, however, showed significant growth. The pace of growth was the most pronounced in 2018 when exports increased by 293%. Over the period under review, the exports attained the peak figure at X tons in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

In value terms, shaft coupling exports declined notably to $X in 2022. In general, exports, however, continue to indicate a significant increase. The most prominent rate of growth was recorded in 2018 with an increase of 315% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

The Czech Republic (X tons) was the main destination for shaft coupling exports from Kuwait, accounting for a 37% share of total exports. Moreover, shaft coupling exports to the Czech Republic exceeded the volume sent to the second major destination, India (X kg), threefold. Turkey (X kg) ranked third in terms of total exports with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the Czech Republic was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+18.3% per year) and Turkey (+356.2% per year).

In value terms, the Czech Republic ($X), India ($X) and Turkey ($X) constituted the largest markets for shaft coupling exported from Kuwait worldwide, together accounting for 41% of total exports.

Turkey, with a CAGR of +416.6%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination 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 shaft coupling export price amounted to $X per ton, remaining constant against the previous year. In general, the export price, however, recorded a abrupt setback. The pace of growth was the most pronounced in 2014 an increase of 255%. The export price peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Serbia ($X per ton), while the average price for exports to the Czech Republic ($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 Spain (+171.0%), while the prices for the other major destinations experienced more modest paces of growth.

Shaft Coupling Imports

Imports into Kuwait

In 2022, the amount of clutches and shaft couplings imported into Kuwait reduced dramatically to X tons, falling by -22.3% against the year before. Overall, imports, however, saw a resilient expansion. The growth pace was the most rapid in 2021 when imports increased by 75%. As a result, imports attained the peak of X tons, and then fell remarkably in the following year.

In value terms, shaft coupling imports fell to $X in 2022. Over the period under review, total imports indicated a moderate increase from 2012 to 2022: its value increased at an average annual rate of +2.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +14.6% against 2020 indices. The pace of growth appeared the most rapid in 2018 when imports increased by 58%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

China (X tons), the United States (X tons) and South Korea (X tons) were the main suppliers of shaft coupling imports to Kuwait, together accounting for 55% of total imports. Japan, Germany, Singapore, the UK, Italy, India, Turkey, the Netherlands and Poland lagged somewhat behind, together comprising a further 28%.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Singapore (with a CAGR of +97.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Germany ($X) and Japan ($X) appeared to be the largest shaft coupling suppliers to Kuwait, with a combined 40% share of total imports. The UK, China, Italy, Singapore, South Korea, India, the Netherlands, Poland and Turkey lagged somewhat behind, together accounting for a further 32%.

Among the main suppliers, Singapore, with a CAGR of +97.8%, recorded 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 shaft coupling import price stood at $X per ton in 2022, surging by 14% against the previous year. Over the period under review, the import price, however, continues to indicate a perceptible contraction. The import price peaked at $X per ton in 2013; however, from 2014 to 2022, import prices remained at a 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 UK ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by South Korea (+6.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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