Kuwait: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Kuwait

The Kuwaiti grinding and sharpening machine market expanded slightly to $X in 2022, increasing by 3.4% against the previous year. Over the period under review, consumption posted a prominent expansion. Over the period under review, the market attained the peak level in 2022 and is likely to continue growth in years to come.

Production of Grinding And Sharpening Metal Finishing Machines in Kuwait

In value terms, grinding and sharpening machine production rose modestly to $X in 2022 estimated in export price. Overall, production showed a strong expansion. The pace of growth appeared the most rapid in 2018 when the production volume increased by 69%. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production stood at a somewhat lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Kuwait

In 2022, overseas shipments of grinding and sharpening metal finishing machines decreased by -99.3% to X units, falling for the second consecutive year after two years of growth. Overall, exports faced a dramatic decline. The growth pace was the most rapid in 2019 with an increase of 14,400%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine exports declined significantly to $X in 2022. Over the period under review, exports continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 when exports increased by 700%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for grinding and sharpening machine exports from Kuwait, accounting for a approx. 100% share of total exports.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates stood at -24.2%.

In value terms, India ($X) emerged as the key foreign market for grinding and sharpening metal finishing machines exports from Kuwait, comprising 88% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 12% share of total exports.

From 2012 to 2022, the average annual growth rate of value to India totaled +4.4%.

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, growing by 10,553% against the previous year. In general, the export price showed a remarkable increase. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for Oman amounted to +2,786.1% per year.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Kuwait

After two years of growth, supplies from abroad of grinding and sharpening metal finishing machines decreased by -1.1% to X units in 2022. Overall, imports, however, posted buoyant growth. The most prominent rate of growth was recorded in 2015 when imports increased by 209%. Over the period under review, imports hit record highs at X units in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

In value terms, grinding and sharpening machine imports dropped notably to $X in 2022. In general, imports, however, showed a buoyant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 498% against the previous year. Imports peaked at $X in 2021, and then dropped notably in the following year.

Imports by Country

China (X units), the United Arab Emirates (X units) and Germany (X units) were the main suppliers of grinding and sharpening machine imports to Kuwait, with a combined 77% 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 China (with a CAGR of +33.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X) constituted the largest supplier of grinding and sharpening metal finishing machines to Kuwait, comprising 41% of total imports. The second position in the ranking was held by France ($X), with a 19% share of total imports. It was followed by China, with an 8.6% share.

From 2012 to 2022, the average annual rate of growth in terms of value from Germany totaled +27.5%. The remaining supplying countries recorded the following average annual rates of imports growth: France (+54.7% per year) and China (+25.2% per year).

Import Prices by Country

The average grinding and sharpening machine import price stood at $X per unit in 2022, declining by -28.4% against the previous year. Overall, the import price, however, posted noticeable growth. The most prominent rate of growth was recorded in 2018 an increase of 103%. Over the period under review, average import prices attained the peak figure at $X per unit in 2021, and then reduced sharply in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+30.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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