Kuwait: Inductor Market 2024

Inductor Market Size in Kuwait

After two years of decline, the Kuwaiti inductor market increased by 74% to $X in 2022. Over the period under review, consumption enjoyed buoyant growth. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption stood at a somewhat lower figure.

Inductor Exports

Exports from Kuwait

In 2022, approx. X units of inductors were exported from Kuwait; declining by -17.2% compared with 2021. In general, exports, however, enjoyed a resilient increase. The pace of growth appeared the most rapid in 2019 with an increase of 762% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2022, the exports stood at a somewhat lower figure.

In value terms, inductor exports reduced dramatically to $X in 2022. Over the period under review, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2019 when exports increased by 551% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for inductor exports from Kuwait, accounting for a 60% share of total exports. Moreover, inductor exports to the United Arab Emirates exceeded the volume sent to the second major destination, Saudi Arabia (X units), threefold. The third position in this ranking was held by the UK (X units), with a 7.5% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates amounted to +58.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+15.6% per year) and the UK (+15.5% per year).

In value terms, Saudi Arabia ($X) emerged as the key foreign market for inductors exports from Kuwait, comprising 62% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 17% share of total exports. It was followed by the United States, with a 10% share.

From 2012 to 2022, the average annual growth rate of value to Saudi Arabia amounted to +27.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+57.0% per year) and the United States (-14.9% per year).

Export Prices by Country

In 2022, the average inductor export price amounted to $X per unit, falling by -27.3% against the previous year. In general, the export price recorded a abrupt descent. The pace of growth appeared the most rapid in 2020 an increase of 154% against the previous year. Over the period under review, the average export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per unit), while the average price for exports to the UK (less than $X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+846.0%), while the prices for the other major destinations experienced more modest paces of growth.

Inductor Imports

Imports into Kuwait

In 2022, after two years of decline, there was significant growth in overseas purchases of inductors, when their volume increased by 85% to X units. Over the period under review, imports continue to indicate a strong expansion. The pace of growth was the most pronounced in 2013 with an increase of 546% against the previous year. Over the period under review, imports reached the maximum at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, inductor imports surged to $X in 2022. Overall, imports showed resilient growth. The pace of growth appeared the most rapid in 2013 when imports increased by 418%. Over the period under review, imports attained the maximum at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, South Korea (X units) constituted the largest supplier of inductor to Kuwait, accounting for a 83% share of total imports. Moreover, inductor imports from South Korea exceeded the figures recorded by the second-largest supplier, Egypt (X units), more than tenfold. Bulgaria (X units) ranked third in terms of total imports with a 3.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from South Korea totaled +19.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Egypt (+47.0% per year) and Bulgaria (+27.7% per year).

In value terms, South Korea ($X) constituted the largest supplier of inductors to Kuwait, comprising 67% of total imports. The second position in the ranking was held by Singapore ($X), with a 4.3% share of total imports. It was followed by Austria, with a 3.6% share.

From 2012 to 2022, the average annual growth rate of value from South Korea amounted to +8.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Singapore (+15.6% per year) and Austria (+33.4% per year).

Import Prices by Country

The average inductor import price stood at $X per thousand units in 2022, declining by -10.9% against the previous year. Overall, the import price continues to indicate a deep setback. The growth pace was the most rapid in 2015 when the average import price increased by 37% against the previous year. Over the period under review, average import prices hit record highs at $X per thousand units in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Singapore ($X per thousand units), while the price for Bulgaria ($X per thousand units) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (-2.7%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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