Kuwait: Horizontal Machining Centre Market 2024

Horizontal Machining Centre Market Size in Kuwait

The Kuwaiti horizontal machining centre market expanded notably to $X in 2021, growing by 10% against the previous year. Over the period under review, the total consumption indicated a remarkable increase from 2012 to 2021: its value increased at an average annual rate of +6.1% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -9.2% against 2019 indices. As a result, consumption attained the peak level of $X. From 2015 to 2021, the growth of the market remained at a somewhat lower figure.

Horizontal Machining Centre Production in Kuwait

In value terms, horizontal machining centre production expanded rapidly to $X in 2021 estimated in export price. Overall, the total production indicated buoyant growth from 2012 to 2021: its value increased at an average annual rate of +7.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -10.3% against 2019 indices. The pace of growth appeared the most rapid in 2014 when the production volume increased by 56%. Over the period under review, production reached the maximum level at $X in 2019; however, from 2020 to 2021, production stood at a somewhat lower figure.

Horizontal Machining Centre Exports

Exports from Kuwait

In 2021, approx. X units of horizontal machining centres for working metal were exported from Kuwait; with an increase of 13% compared with the year before. Over the period under review, exports showed a significant expansion. The pace of growth was the most pronounced in 2017 with an increase of 250% against the previous year. Over the period under review, the exports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, horizontal machining centre exports soared to $X in 2021. Overall, exports recorded a significant increase. The pace of growth was the most pronounced in 2016 when exports increased by 418% against the previous year. The exports peaked in 2021 and are expected to retain growth in the immediate term.

Exports by Country

The United Arab Emirates (X units) was the main destination for horizontal machining centre exports from Kuwait, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +27.7%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for horizontal machining centres for working metal exports from Kuwait.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +35.9%.

Export Prices by Country

In 2021, the average horizontal machining centre export price amounted to $X per unit, increasing by 6.7% against the previous year. Over the period under review, the export price recorded a resilient expansion. The most prominent rate of growth was recorded in 2016 when the average export price increased by 269% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices stood at a somewhat lower figure.

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

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +4.5% per year.

Horizontal Machining Centre Imports

Imports into Kuwait

In 2021, after four years of growth, there was decline in overseas purchases of horizontal machining centres for working metal, when their volume decreased by 0% to X units. In general, imports saw a strong increase. The pace of growth appeared the most rapid in 2014 with an increase of 367%. As a result, imports attained the peak of X units. From 2015 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, horizontal machining centre imports surged to $X in 2021. Overall, imports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2014 with an increase of 521% against the previous year. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

South Korea (X units), India (X units) and Austria (X units) were the main suppliers of horizontal machining centre imports to Kuwait, with a combined 57% share of total imports. Moreover, horizontal machining centre imports in South Korea exceeded the figures recorded by the second-largest supplier, India, twofold.

From 2012 to 2021, the biggest increases were recorded for South Korea (with a CAGR of +8.0%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Taiwan (Chinese) ($X) constituted the largest supplier of horizontal machining centres for working metal to Kuwait, comprising 40% of total imports. The second position in the ranking was taken by Austria ($X), with a 12% share of total imports. It was followed by the United Arab Emirates, with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Taiwan (Chinese) amounted to +56.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Austria (+50.1% per year) and the United Arab Emirates (+42.5% per year).

Import Prices by Country

The average horizontal machining centre import price stood at $X per unit in 2021, jumping by 44% against the previous year. Overall, import price indicated noticeable growth from 2012 to 2021: its price increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2015 when the average import price increased by 45%. Over the period under review, average import prices attained the maximum in 2021 and is expected to retain growth in years to come.

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 Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+13.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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