Kuwait: Market for Motorcycles and Cycles With an Auxiliary Motor 2024

Market Size for Motorcycles and Cycles With an Auxiliary Motor in Kuwait

The Kuwaiti market for motorcycles and cycles with an auxiliary motor rose sharply to $X in 2021, with an increase of 8.7% against the previous year. Overall, the total consumption indicated a temperate expansion from 2012 to 2021: its value increased at an average annual rate of +3.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +73.5% against 2015 indices. Consumption of peaked in 2021 and is expected to retain growth in years to come.

Production of Motorcycles and Cycles With an Auxiliary Motor in Kuwait

In value terms, production of motorcycles and cycles with an auxiliary motor contracted to $X in 2021 estimated in export price. In general, production enjoyed a perceptible expansion. The growth pace was the most rapid in 2016 when the production volume increased by 95%. Over the period under review, production of hit record highs at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Motorcycles and Cycles With an Auxiliary Motor

Exports from Kuwait

In 2021, shipments abroad of motorcycles and cycles with an auxiliary motor was finally on the rise to reach X units after three years of decline. Overall, exports showed a buoyant expansion. The pace of growth was the most pronounced in 2016 when exports increased by 161% against the previous year. Over the period under review, the exports of hit record highs at X units in 2017; however, from 2018 to 2021, the exports remained at a lower figure.

In value terms, exports of motorcycles and cycles with an auxiliary motor surged to $X in 2021. In general, exports recorded a tangible expansion. The pace of growth was the most pronounced in 2017 with an increase of 141%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports of remained at a somewhat lower figure.

Exports by Country

Egypt (X units) was the main destination for exports of motorcycles and cycles with an auxiliary motor from Kuwait, with a 83% share of total exports. Moreover, exports of motorcycles and cycles with an auxiliary motor to Egypt exceeded the volume sent to the second major destination, Iran (X units), fivefold.

From 2012 to 2021, the average annual rate of growth in terms of volume to Egypt totaled +40.7%.

In value terms, Iran ($X) remains the key foreign market for motorcycles and cycles with an auxiliary motor exports from Kuwait, comprising 71% of total exports. The second position in the ranking was held by Egypt ($X), with an 11% share of total exports.

From 2012 to 2021, the average annual growth rate of value to Iran totaled +7.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (+14.9% per year) and France (-41.3% per year).

Export Prices by Country

The average export price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2021, reducing by -11.2% against the previous year. Overall, the export price recorded a deep slump. The growth pace was the most rapid in 2019 an increase of 25%. The export price peaked at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Iran ($X per unit), while the average price for exports to Egypt ($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 Iran (+5.9%), while the prices for the other major destinations experienced a decline.

Imports of Motorcycles and Cycles With an Auxiliary Motor

Imports into Kuwait

In 2021, supplies from abroad of motorcycles and cycles with an auxiliary motor increased by 282% to X units, rising for the second consecutive year after five years of decline. Over the period under review, imports, however, showed a relatively flat trend pattern. Imports peaked at X units in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, imports of motorcycles and cycles with an auxiliary motor skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a mild descent. Imports peaked at $X in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X units), Japan (X units) and Germany (X units) were the main suppliers of imports of motorcycles and cycles with an auxiliary motor to Kuwait, with a combined 72% share of total imports.

From 2012 to 2021, the biggest increases were recorded for Japan (with a CAGR of +41.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), the United Arab Emirates ($X) and China ($X) appeared to be the largest motorcycles and cycles with an auxiliary motor suppliers to Kuwait, together comprising 55% of total imports.

Among the main suppliers, Japan, with a CAGR of +53.9%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2021, falling by -18.9% against the previous year. Overall, the import price showed a mild curtailment. The pace of growth appeared the most rapid in 2015 an increase of 68%. Over the period under review, average import prices attained the maximum at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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 Italy ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+20.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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