Kuwait: Market for Machine-Tools For Working Wood 2024

Market Size for Machine-Tools For Working Wood in Kuwait

The Kuwaiti machine-tool for working wood market soared to $X in 2021, rising by 65% 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 recorded a strong increase. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Exports of Machine-Tools For Working Wood

Exports from Kuwait

In 2021, after two years of growth, there was significant decline in shipments abroad of machine-tools for working wood, when their volume decreased by -40.1% to X tons. Overall, exports saw a pronounced contraction. The most prominent rate of growth was recorded in 2016 with an increase of 935% against the previous year. Over the period under review, the exports hit record highs at X tons in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

In value terms, machine-tool for working wood exports declined notably to $X in 2021. Over the period under review, exports continue to indicate a abrupt shrinkage. The most prominent rate of growth was recorded in 2016 when exports increased by 659% against the previous year. The exports peaked at $X in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Qatar (X tons) was the main destination for machine-tool for working wood exports from Kuwait, with a 62% share of total exports. Moreover, machine-tool for working wood exports to Qatar exceeded the volume sent to the second major destination, Saudi Arabia (X tons), threefold. Spain (X tons) ranked third in terms of total exports with a 17% share.

From 2012 to 2021, the average annual growth rate of volume to Qatar totaled +21.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+5.5% per year) and Spain (+7.2% per year).

In value terms, Spain ($X), Qatar ($X) and Saudi Arabia ($X) appeared to be the largest markets for machine-tool for working wood exported from Kuwait worldwide, with a combined 99% share of total exports.

Among the main countries of destination, Spain, with a CAGR of +61.8%, recorded the highest rates of growth with regard to 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

In 2021, the average machine-tool for working wood export price amounted to $X per ton, growing by 21% against the previous year. Overall, the export price, however, saw a deep downturn. The growth pace was the most rapid in 2019 when the average export price increased by 67% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Spain ($X per ton), while the average price for exports to Saudi Arabia ($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 Spain (+51.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Machine-Tools For Working Wood

Imports into Kuwait

In 2021, imports of machine-tools for working wood into Kuwait soared to X tons, with an increase of 67% on the year before. Overall, imports recorded a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 99.9%. Over the period under review, imports reached the peak figure in 2021 and are likely to continue growth in the immediate term.

In value terms, machine-tool for working wood imports skyrocketed to $X in 2021. In general, imports saw a buoyant expansion. The pace of growth appeared the most rapid in 2018 when imports increased by 57%. As a result, imports attained the peak of $X. From 2019 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), Turkey (X tons) and the United Arab Emirates (X tons) were the main suppliers of machine-tool for working wood imports to Kuwait, with a combined 77% share of total imports. These countries were followed by Italy, Austria, India, Germany and Egypt, which together accounted for a further 18%.

From 2012 to 2021, the biggest increases were recorded for Austria (with a CAGR of +122.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, China ($X), the United Arab Emirates ($X) and Turkey ($X) appeared to be the largest machine-tool for working wood suppliers to Kuwait, with a combined 64% share of total imports.

China, with a CAGR of +104.1%, saw the highest growth rate of 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

The average machine-tool for working wood import price stood at $X per ton in 2021, which is down by -18.1% against the previous year. In general, the import price continues to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 when the average import price increased by 40%. Over the period under review, average import prices hit record highs at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

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 Austria ($X per ton), while the price for Egypt ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+12.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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