Kuwait: Market for Lead-Acid Accumulators (Excluding Starter Batteries) 2024

Market Size for Lead-Acid Accumulators (Excluding Starter Batteries) in Kuwait

The Kuwaiti market for lead-acid accumulators (excluding starter batteries) reduced notably to $X in 2022, dropping by -30% 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). Over the period under review, consumption, however, posted resilient growth. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Exports of Lead-Acid Accumulators (Excluding Starter Batteries)

Exports from Kuwait

In 2022, shipments abroad of lead-acid accumulators (excluding starter batteries) was finally on the rise to reach X units after three years of decline. Overall, exports, however, saw a sharp shrinkage. Over the period under review, the exports attained the peak figure at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, lead-acid accumulators (excluding starter batteries) exports surged to $X in 2022. In general, exports, however, showed a dramatic downturn. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

Bahrain (X units) was the main destination for lead-acid accumulators (excluding starter batteries) exports from Kuwait, with a 62% share of total exports. Moreover, lead-acid accumulators (excluding starter batteries) exports to Bahrain exceeded the volume sent to the second major destination, Qatar (X units), fourfold. The Netherlands (X units) ranked third in terms of total exports with a 7.7% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Bahrain totaled -30.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+7.2% per year) and the Netherlands (0.0% per year).

In value terms, the largest markets for lead-acid accumulators (excluding starter batteries) exported from Kuwait were Qatar ($X), Bahrain ($X) and India ($X), with a combined 99% share of total exports.

Qatar, with a CAGR of +18.7%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

In 2022, the average export price for lead-acid accumulators (excluding starter batteries) amounted to $X per unit, growing by 48% against the previous year. In general, the export price, however, continues to indicate a noticeable curtailment. Over the period under review, the average export prices hit record highs at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major external markets. In 2022, amid the top suppliers, the country with the highest price was Qatar ($X per unit), while the average price for exports to the Netherlands ($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 Qatar (+10.8%), while the prices for the other major destinations experienced a decline.

Imports of Lead-Acid Accumulators (Excluding Starter Batteries)

Imports into Kuwait

In 2022, the amount of lead-acid accumulators (excluding starter batteries) imported into Kuwait reduced markedly to X units, waning by -32.1% on the year before. Over the period under review, imports, however, posted buoyant growth. The pace of growth was the most pronounced in 2021 with an increase of 278% against the previous year. As a result, imports attained the peak of X units, and then reduced remarkably in the following year.

In value terms, lead-acid accumulators (excluding starter batteries) imports contracted significantly to $X in 2022. In general, imports, however, posted a notable increase. The pace of growth appeared the most rapid in 2013 when imports increased by 168% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, Saudi Arabia (X units) constituted the largest lead-acid accumulators (excluding starter batteries) supplier to Kuwait, accounting for a 73% share of total imports. Moreover, lead-acid accumulators (excluding starter batteries) imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X units), sevenfold. India (X units) ranked third in terms of total imports with a 5.6% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from Saudi Arabia amounted to +14.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+10.9% per year) and India (+13.5% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of lead-acid accumulators (excluding starter batteries) to Kuwait, comprising 38% of total imports. The second position in the ranking was taken by China ($X), with a 16% share of total imports. It was followed by India, with a 13% share.

From 2012 to 2022, the average annual growth rate of value from Saudi Arabia stood at +1.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+15.8% per year) and India (+18.9% per year).

Import Prices by Country

The average import price for lead-acid accumulators (excluding starter batteries) stood at $X per unit in 2022, increasing by 5.7% against the previous year. Overall, the import price, however, showed a deep reduction. The pace of growth was the most pronounced in 2015 an increase of 25%. Over the period under review, average import prices reached the maximum at $X per unit 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 India ($X per unit), while the price for Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+4.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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