Kuwait: Public Works Machinery Market 2024

Public Works Machinery Market Size in Kuwait

In 2021, the Kuwaiti public works machinery market decreased by -86.9% to $X, falling for the third consecutive year after two years of growth. In general, consumption showed a deep reduction. Public works machinery consumption peaked at $X in 2018; however, from 2019 to 2021, consumption remained at a lower figure.

Public Works Machinery Exports

Exports from Kuwait

In 2021, approx. X units of machinery for public works and building were exported from Kuwait; surging by 198% against 2020 figures. Over the period under review, exports enjoyed significant growth. The pace of growth appeared the most rapid in 2017 when exports increased by 417% against the previous year. Over the period under review, the exports reached the maximum in 2021 and are likely to see gradual growth in the immediate term.

In value terms, public works machinery exports skyrocketed to $X in 2021. In general, exports showed a significant increase. The growth pace was the most rapid in 2018 with an increase of 212% against the previous year. The exports peaked at $X in 2019; however, from 2020 to 2021, the exports remained at a lower figure.

Exports by Country

Iraq (X units), Saudi Arabia (X units) and Turkey (X units) were the main destinations of public works machinery exports from Kuwait, together comprising 85% of total exports.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iraq (with a CAGR of +311.6%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for public works machinery exported from Kuwait were Saudi Arabia ($X), Turkey ($X) and Spain ($X), with a combined 58% share of total exports.

Turkey, with a CAGR of +182.4%, recorded the highest growth rate of the value of exports, among the main countries of destination 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 public works machinery export price amounted to $X per unit, dropping by -45.2% against the previous year. Overall, the export price saw a precipitous decline. The pace of growth was the most pronounced in 2019 when the average export price increased by 176% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Spain ($X per unit), while the average price for exports to Iraq ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to India (+1,490.2%), while the prices for the other major destinations experienced more modest paces of growth.

Public Works Machinery Imports

Imports into Kuwait

In 2021, overseas purchases of machinery for public works and building decreased by -42.3% to X units, falling for the third year in a row after two years of growth. Overall, imports showed a abrupt contraction. The growth pace was the most rapid in 2017 with an increase of 184% against the previous year. Imports peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, public works machinery imports fell to $X in 2021. In general, imports, however, enjoyed a noticeable expansion. The growth pace was the most rapid in 2017 with an increase of 157% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2021, imports remained at a lower figure.

Imports by Country

Germany (X units), Italy (X units) and China (X units) were the main suppliers of public works machinery imports to Kuwait, together comprising 44% of total imports. India, the United States, Romania, the Netherlands, Turkey, the UK, Austria and South Korea lagged somewhat behind, together accounting for a further 45%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Romania (with a CAGR of +55.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of machinery for public works and building to Kuwait, comprising 42% of total imports. The second position in the ranking was held by Italy ($X), with a 6.1% share of total imports. It was followed by Germany, with a 4.6% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States amounted to +27.8%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+6.1% per year) and Germany (-19.5% per year).

Import Prices by Country

The average public works machinery import price stood at $X per unit in 2021, jumping by 51% against the previous year. Overall, the import price continues to indicate a resilient expansion. The most prominent rate of growth was recorded in 2019 when the average import price increased by 60% against the previous year. The import price peaked in 2021 and is expected to retain growth in the near future.

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 the United States ($X per unit), while the price for India ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+18.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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