Kuwait: Market for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft) in Kuwait

The Kuwaiti market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) skyrocketed to $X in 2021, growing by 73% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption saw a noticeable expansion. As a result, consumption attained the peak level and is likely to continue growth in the immediate term.

Exports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Exports from Kuwait

After two years of growth, overseas shipments of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) decreased by -42.6% to X tons in 2021. In general, exports, however, continue to indicate a buoyant increase. The growth pace was the most rapid in 2013 when exports increased by 829% against the previous year. As a result, the exports reached the peak of X tons. From 2014 to 2021, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) reduced remarkably to $X in 2021. Over the period under review, exports, however, continue to indicate a buoyant expansion. The growth pace was the most rapid in 2013 with an increase of 308%. Over the period under review, the exports of hit record highs at $X in 2020, and then reduced notably in the following year.

Exports by Country

Syrian Arab Republic (X tons), the United Arab Emirates (X tons) and Bahrain (X tons) were the main destinations of exports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) from Kuwait, together comprising 70% of total exports.

From 2012 to 2021, the biggest increases were recorded for Syrian Arab Republic (with a CAGR of +70.7%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) exports from Kuwait, comprising 62% of total exports. The second position in the ranking was taken by Qatar ($X), with a 12% share of total exports. It was followed by Bahrain, with an 8.4% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +39.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+17.9% per year) and Bahrain (+30.0% per year).

Export Prices by Country

The average export price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) stood at $X per ton in 2021, growing by 11% against the previous year. Over the period under review, the export price, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2019 when the average export price increased by 53% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, 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 Qatar ($X per ton), while the average price for exports to Syrian Arab Republic ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Lebanon (+4,617.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Internal Combustion Engines, Excluding Diesel (Other Than For Motor Vehicles And Aircraft)

Imports into Kuwait

In 2021, approx. X tons of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) were imported into Kuwait; growing by 27% on the previous year's figure. Over the period under review, total imports indicated a noticeable expansion from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +93.5% against 2017 indices. The pace of growth appeared the most rapid in 2013 when imports increased by 52%. As a result, imports attained the peak of X tons. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) surged to $X in 2021. In general, imports continue to indicate resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 65% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

Imports by Country

Japan (X tons), the United States (X tons) and Belgium (X tons) were the main suppliers of imports of internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) to Kuwait, together comprising 86% of total imports. These countries were followed by China, South Korea, Saudi Arabia and Canada, which together accounted for a further 9.4%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by South Korea (with a CAGR of +36.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest internal combustion engine (excl. diesel, moto vehicle and aircraft) suppliers to Kuwait were Japan ($X), the United States ($X) and Belgium ($X), with a combined 92% share of total imports.

The United States, with a CAGR of +26.2%, 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 2021, the average import price for internal combustion engines, excluding diesel (other than for motor vehicles and aircraft) amounted to $X per ton, with an increase of 15% against the previous year. Over the last nine-year period, it increased at an average annual rate of +1.3%. The most prominent rate of growth was recorded in 2020 an increase of 43%. Over the period under review, average import prices attained the maximum in 2021 and is likely to see steady growth in the near future.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per ton), while the price for Canada ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Belgium (+3.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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