Kuwait: Glass Electrical Insulator Market 2024

Glass Electrical Insulator Market Size in Kuwait

The Kuwaiti glass electrical insulator market expanded slightly to $X in 2021, with an increase of 4.3% against the previous year. Overall, consumption, however, recorded a abrupt slump. As a result, consumption reached the peak level of $X. From 2015 to 2021, the growth of the market failed to regain momentum.

Glass Electrical Insulator Production in Kuwait

In value terms, glass electrical insulator production reached $X in 2021 estimated in export price. Overall, production, however, saw a deep setback. The pace of growth was the most pronounced in 2014 when the production volume increased by 91% against the previous year. As a result, production reached the peak level of $X. From 2015 to 2021, production growth remained at a lower figure.

Glass Electrical Insulator Exports

Exports from Kuwait

In 2018, overseas shipments of glass electrical insulators decreased by -87% to X units for the first time since 2015, thus ending a two-year rising trend. Overall, exports recorded a mild decrease. The most prominent rate of growth was recorded in 2016 with an increase of 1,745% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2017, and then reduced markedly in the following year.

In value terms, glass electrical insulator exports declined rapidly to $X in 2018. Over the period under review, exports continue to indicate a abrupt descent. The most prominent rate of growth was recorded in 2016 when exports increased by 862% against the previous year. Over the period under review, the exports reached the maximum at $X in 2017, and then contracted sharply in the following year.

Exports by Country

Saudi Arabia (X units) was the main destination for glass electrical insulator exports from Kuwait, accounting for a 75% share of total exports. Moreover, glass electrical insulator exports to Saudi Arabia exceeded the volume sent to the second major destination, Senegal (X units), threefold.

From 2013 to 2018, the average annual rate of growth in terms of volume to Saudi Arabia was relatively modest.

In value terms, Senegal ($X) remains the key foreign market for glass electrical insulators exports from Kuwait, comprising 88% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 12% share of total exports.

From 2013 to 2018, the average annual rate of growth in terms of value to Senegal totaled -90.8%.

Export Prices by Country

The average glass electrical insulator export price stood at $X per unit in 2018, waning by -20.4% against the previous year. Overall, the export price showed a abrupt decrease. The growth pace was the most rapid in 2014 an increase of 58% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2015 to 2018, the average export prices remained at a somewhat lower figure.

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

From 2013 to 2018, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+705.2%), while the prices for the other major destinations experienced mixed trend patterns.

Glass Electrical Insulator Imports

Imports into Kuwait

In 2021, overseas purchases of glass electrical insulators increased by 318% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports, however, showed a noticeable curtailment. The most prominent rate of growth was recorded in 2015 with an increase of 705%. Over the period under review, imports attained the maximum at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, glass electrical insulator imports surged to $X in 2021. Over the period under review, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 with an increase of 1,163%. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Italy (X units) was the main supplier of glass electrical insulator to Kuwait, accounting for a 95% share of total imports. It was followed by the United States (X units), with a 1.9% share of total imports. India (X units) ranked third in terms of total imports with a 1.5% share.

From 2012 to 2021, the average annual growth rate of volume from Italy totaled +54.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-16.0% per year) and India (-4.5% per year).

In value terms, Italy ($X) constituted the largest supplier of glass electrical insulators to Kuwait, comprising 84% of total imports. The second position in the ranking was taken by India ($X), with a 4.6% share of total imports. It was followed by the United Arab Emirates, with a 3.4% share.

From 2012 to 2021, the average annual growth rate of value from Italy amounted to +50.6%. The remaining supplying countries recorded the following average annual rates of imports growth: India (+9.5% per year) and the United Arab Emirates (-19.2% per year).

Import Prices by Country

The average glass electrical insulator import price stood at $X per unit in 2021, with an increase of 5.4% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +5.2% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, glass electrical insulator import price increased by +39.3% against 2019 indices. The pace of growth appeared the most rapid in 2015 an increase of 57% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 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 the United Arab Emirates ($X per unit), while the price for the United States ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+36.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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