Kuwait: Market for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines 2024

Market Size for Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines in Kuwait

The Kuwaiti fuel or lubricating pump market skyrocketed to $X in 2021, jumping by 49% 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, consumption enjoyed a prominent increase. Fuel or lubricating pump consumption peaked in 2021 and is expected to retain growth in the immediate term.

Exports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Exports from Kuwait

In 2021, fuel or lubricating pump exports from Kuwait shrank sharply to X units, waning by -83.9% on 2020. Over the period under review, exports continue to indicate a deep downturn. The pace of growth appeared the most rapid in 2019 with an increase of 380%. As a result, the exports attained the peak of X units. From 2020 to 2021, the growth of the exports failed to regain momentum.

In value terms, fuel or lubricating pump exports shrank notably to $X in 2021. Overall, exports showed a abrupt downturn. The most prominent rate of growth was recorded in 2015 with an increase of 100% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

The UK (X units) was the main destination for fuel or lubricating pump exports from Kuwait, with a 44% share of total exports. Moreover, fuel or lubricating pump exports to the UK exceeded the volume sent to the second major destination, Saudi Arabia (X units), twofold. The third position in this ranking was held by Belgium (X units), with a 14% share.

From 2012 to 2021, the average annual growth rate of volume to the UK totaled -8.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-14.1% per year) and Belgium (+13.7% per year).

In value terms, the UK ($X) remains the key foreign market for fuel, lubricating or cooling-medium pumps for internal combustion engines exports from Kuwait, comprising 50% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 15% share of total exports. It was followed by Belgium, with an 11% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the UK amounted to -2.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+11.0% per year) and Belgium (+11.2% per year).

Export Prices by Country

The average fuel or lubricating pump export price stood at $X per unit in 2021, rising by 38% against the previous year. Overall, the export price recorded a remarkable increase. The pace of growth appeared the most rapid in 2015 when the average export price increased by 225%. The export price peaked at $X per unit in 2017; however, from 2018 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United States ($X per unit), while the average price for exports to Saudi Arabia ($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 the United Arab Emirates (+23.7%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Fuel, Lubricating Or Cooling-Medium Pumps For Internal Combustion Engines

Imports into Kuwait

In 2021, approx. X units of fuel, lubricating or cooling-medium pumps for internal combustion engines were imported into Kuwait; jumping by 30% on the previous year's figure. Over the period under review, imports saw a strong increase. The pace of growth appeared the most rapid in 2017 with an increase of 101% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the near future.

In value terms, fuel or lubricating pump imports soared to $X in 2021. In general, imports enjoyed a strong increase. The growth pace was the most rapid in 2017 when imports increased by 91% against the previous year. Over the period under review, imports reached the maximum in 2021 and are likely to see gradual growth in years to come.

Imports by Country

In 2021, the United Arab Emirates (X units) constituted the largest fuel or lubricating pump supplier to Kuwait, with a 36% share of total imports. Moreover, fuel or lubricating pump imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Japan (X units), twofold. The third position in this ranking was held by Mexico (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates stood at +11.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.4% per year) and Mexico (+22.3% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of fuel, lubricating or cooling-medium pumps for internal combustion engines to Kuwait, comprising 29% of total imports. The second position in the ranking was held by Japan ($X), with a 9.3% share of total imports. It was followed by Italy, with an 8.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates amounted to +17.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+1.3% per year) and Italy (+17.2% per year).

Import Prices by Country

In 2021, the average fuel or lubricating pump import price amounted to $X per unit, jumping by 22% against the previous year. In general, the import price recorded slight growth. The pace of growth was the most pronounced in 2013 when the average import price increased by 62%. Over the period under review, average import prices attained the maximum at $X per unit in 2014; however, from 2015 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the United States ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+8.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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