Kuwait: Wood Drilling Machine Market 2024

Wood Drilling Machine Market Size in Kuwait

The Kuwaiti wood drilling machine market rose notably to $X in 2021, growing by 7.6% against the previous year. Over the period under review, consumption enjoyed significant growth. Wood drilling machine consumption peaked at $X in 2019; however, from 2020 to 2021, consumption stood at a somewhat lower figure.

Wood Drilling Machine Production in Kuwait

In value terms, wood drilling machine production reached $X in 2021 estimated in export price. In general, production posted a significant expansion. The pace of growth was the most pronounced in 2016 when the production volume increased by 226%. Wood drilling machine production peaked at $X in 2019; however, from 2020 to 2021, production failed to regain momentum.

Wood Drilling Machine Exports

Exports from Kuwait

In 2021, exports of drilling or morticing machines from Kuwait surged to X units, increasing by 300% against the previous year's figure. Overall, exports, however, saw a deep downturn. The most prominent rate of growth was recorded in 2019 when exports increased by 4,700% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, wood drilling machine exports soared to $X in 2021. Over the period under review, exports saw a resilient expansion. The pace of growth appeared the most rapid in 2019 with an increase of 9,525%. Over the period under review, the exports hit record highs in 2021 and are likely to see gradual growth in years to come.

Exports by Country

The United Arab Emirates (X units), Qatar (X units) and Oman (X units) were the main destinations of wood drilling machine exports from Kuwait, with a combined 98% share of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Qatar (with a CAGR of +6.0%), while the other leaders experienced a decline.

In value terms, Qatar ($X) emerged as the key foreign market for drilling or morticing machines exports from Kuwait, comprising 73% of total exports. The second position in the ranking was held by Oman ($X), with a 17% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Qatar totaled +84.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+1.0% per year) and the United Arab Emirates (-3.7% per year).

Export Prices by Country

The average wood drilling machine export price stood at $X per unit in 2021, rising by 143% against the previous year. In general, the export price continues to indicate significant growth. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per unit), while the average price for exports to the United Arab Emirates ($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 Qatar (+73.9%), while the prices for the other major destinations experienced more modest paces of growth.

Wood Drilling Machine Imports

Imports into Kuwait

In 2021, approx. X units of drilling or morticing machines were imported into Kuwait; surging by 280% compared with 2020. Over the period under review, imports continue to indicate significant growth. The growth pace was the most rapid in 2014 with an increase of 600% against the previous year. Imports peaked in 2021 and are expected to retain growth in the near future.

In value terms, wood drilling machine imports skyrocketed to $X in 2021. Overall, imports saw significant growth. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

In 2021, China (X units) constituted the largest supplier of wood drilling machine to Kuwait, accounting for a 58% share of total imports. Moreover, wood drilling machine imports from China exceeded the figures recorded by the second-largest supplier, Italy (X units), fourfold. The third position in this ranking was taken by Austria (X units), with a 5.3% share.

From 2012 to 2021, the average annual growth rate of volume from China amounted to +30.5%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+44.2% per year) and Austria (+8.0% per year).

In value terms, the United Arab Emirates ($X), Italy ($X) and Turkey ($X) were the largest wood drilling machine suppliers to Kuwait, together comprising 64% of total imports. The United States, China, Germany, Austria, South Korea and the Netherlands lagged somewhat behind, together accounting for a further 16%.

Among the main suppliers, South Korea, with a CAGR of +100.0%, saw 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

In 2021, the average wood drilling machine import price amounted to $X per unit, rising by 72% against the previous year. Over the period under review, the import price showed a buoyant increase. The most prominent rate of growth was recorded in 2013 an increase of 223%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices stood at a somewhat lower figure.

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 United Arab Emirates ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Germany (+14.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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