Kuwait: Market for Hand-Operated Drilling, Threading or Tapping Tools 2024

Market Size for Hand-Operated Drilling, Threading or Tapping Tools in Kuwait

The Kuwaiti market for hand-operated drilling, threading or tapping tools skyrocketed to $X in 2022, picking up by 52% against the previous year. In general, consumption showed perceptible growth. Over the period under review, the market hit record highs at $X in 2018; however, from 2019 to 2022, consumption failed to regain momentum.

Production of Hand-Operated Drilling, Threading or Tapping Tools in Kuwait

In value terms, production of hand-operated drilling, threading or tapping tools stood at $X in 2022 estimated in export price. In general, production showed a temperate expansion. The most prominent rate of growth was recorded in 2015 with an increase of 111% against the previous year. Over the period under review, production of hit record highs at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Exports of Hand-Operated Drilling, Threading or Tapping Tools

Exports from Kuwait

In 2022, approx. X tons of hand-operated drilling, threading or tapping tools were exported from Kuwait; which is down by -57.8% on 2021. Over the period under review, exports, however, continue to indicate a prominent increase. The most prominent rate of growth was recorded in 2019 with an increase of 12,874%. Over the period under review, the exports of reached the maximum at X tons in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

In value terms, exports of hand-operated drilling, threading or tapping tools shrank remarkably to $X in 2022. In general, exports, however, saw prominent growth. The pace of growth appeared the most rapid in 2019 when exports increased by 9,104%. Over the period under review, the exports of hit record highs at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for exports of hand-operated drilling, threading or tapping tools from Kuwait, with a 57% share of total exports. Moreover, exports of hand-operated drilling, threading or tapping tools to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X tons), fourfold. Oman (X tons) ranked third in terms of total exports with a 14% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +23.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+32.0% per year) and Oman (+57.1% per year).

In value terms, the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X) were the largest markets for hand-operated drilling, threading or tapping tool exported from Kuwait worldwide, together accounting for 78% of total exports.

Among the main countries of destination, Oman, with a CAGR of +54.3%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average export price for hand-operated drilling, threading or tapping tools stood at $X per ton in 2022, surging by 21% against the previous year. In general, the export price, however, showed a abrupt curtailment. The most prominent rate of growth was recorded in 2017 an increase of 77%. Over the period under review, the average export prices reached the peak figure at $X per ton in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Germany ($X per ton), while the average price for exports to Qatar ($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 Saudi Arabia (+15.5%), while the prices for the other major destinations experienced a decline.

Imports of Hand-Operated Drilling, Threading or Tapping Tools

Imports into Kuwait

In 2022, purchases abroad of hand-operated drilling, threading or tapping tools increased by 33% to X tons for the first time since 2019, thus ending a two-year declining trend. In general, imports enjoyed a resilient increase. The pace of growth was the most pronounced in 2018 with an increase of 618% against the previous year. Over the period under review, imports of reached the peak figure at X tons in 2019; however, from 2020 to 2022, imports remained at a lower figure.

In value terms, imports of hand-operated drilling, threading or tapping tools soared to $X in 2022. Over the period under review, imports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 423% against the previous year. Imports peaked at $X in 2020; however, from 2021 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest hand-operated drilling, threading or tapping tool supplier to Kuwait, with a 31% share of total imports. Moreover, imports of hand-operated drilling, threading or tapping tools from China exceeded the figures recorded by the second-largest supplier, the Czech Republic (X tons), twofold. The third position in this ranking was held by Italy (X tons), with a 12% share.

From 2012 to 2022, the average annual growth rate of volume from China totaled +28.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the Czech Republic (+29.7% per year) and Italy (+17.7% per year).

In value terms, the largest hand-operated drilling, threading or tapping tool suppliers to Kuwait were the United States ($X), the Czech Republic ($X) and China ($X), with a combined 45% share of total imports. South Korea, Italy, India and the UK lagged somewhat behind, together comprising a further 26%.

South Korea, with a CAGR of +38.7%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for hand-operated drilling, threading or tapping tools amounted to $X per ton, surging by 41% against the previous year. Overall, the import price, however, recorded a perceptible slump. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2022, import prices stood at a somewhat 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 United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+5.8%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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