Kuwait: Market for Non-Numerically Controlled Drilling Machines For Working Metal 2024

Market Size for Non-Numerically Controlled Drilling Machines For Working Metal in Kuwait

The Kuwaiti non-numerically controlled drilling machine market surged to $X in 2021, increasing by 19% against the previous year. Overall, consumption, however, recorded a perceptible curtailment. Non-numerically controlled drilling machine consumption peaked at $X in 2012; however, from 2013 to 2021, consumption stood at a somewhat lower figure.

Production of Non-Numerically Controlled Drilling Machines For Working Metal in Kuwait

In value terms, non-numerically controlled drilling machine production expanded significantly to $X in 2021 estimated in export price. Over the period under review, production saw tangible growth. Non-numerically controlled drilling machine production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Exports of Non-Numerically Controlled Drilling Machines For Working Metal

Exports from Kuwait

In 2021, overseas shipments of non-numerically controlled drilling machines for working metal decreased by -16.4% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports showed a dramatic decrease. The pace of growth appeared the most rapid in 2018 with an increase of 569%. 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, non-numerically controlled drilling machine exports fell markedly to $X in 2021. Overall, exports showed a deep setback. The growth pace was the most rapid in 2018 with an increase of 592% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Belgium (X tons), the United Arab Emirates (X kg) and Qatar (X kg) were the main destinations of non-numerically controlled drilling machine exports from Kuwait, with a combined 83% share of total exports. India lagged somewhat behind, accounting for a further 17%.

From 2012 to 2021, the biggest increases were recorded for India (with a CAGR of 0.0%), while shipments for the other leaders experienced a decline.

In value terms, Qatar ($X), Belgium ($X) and India ($X) appeared to be the largest markets for non-numerically controlled drilling machine exported from Kuwait worldwide, together accounting for 82% of total exports.

Qatar, with a CAGR of +15.8%, saw the highest rates of growth with regard to the value of exports, in terms of 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 non-numerically controlled drilling machine export price amounted to $X per ton, falling by -30.3% against the previous year. Over the period under review, the export price, however, enjoyed strong growth. The pace of growth was the most pronounced in 2020 an increase of 75% against the previous year. As a result, the export price attained the peak level of $X per ton, and then dropped sharply in the following year.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per ton), while the average price for exports to Belgium ($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 Qatar (+68.3%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Non-Numerically Controlled Drilling Machines For Working Metal

Imports into Kuwait

In 2021, the amount of non-numerically controlled drilling machines for working metal imported into Kuwait reduced dramatically to X tons, falling by -20.2% compared with the year before. Over the period under review, imports continue to indicate a deep downturn. The most prominent rate of growth was recorded in 2015 when imports increased by 97% against the previous year. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, non-numerically controlled drilling machine imports soared to $X in 2021. Overall, imports continue to indicate a deep contraction. The pace of growth was the most pronounced in 2015 when imports increased by 243% against the previous year. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

China (X tons), South Korea (X tons) and the United Arab Emirates (X tons) were the main suppliers of non-numerically controlled drilling machine imports to Kuwait, together comprising 48% of total imports.

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 +24.1%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest non-numerically controlled drilling machine suppliers to Kuwait were Belgium ($X), the UK ($X) and China ($X), with a combined 33% share of total imports. These countries were followed by South Korea, India, Germany, the United Arab Emirates, Turkey, Italy, France, Japan, Bulgaria and the Netherlands, which together accounted for a further 34%.

Turkey, with a CAGR of +22.9%, recorded the highest rates of growth with regard to the value of imports, among 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 non-numerically controlled drilling machine import price stood at $X per ton in 2021, picking up by 127% against the previous year. Over the period under review, the import price posted prominent growth. As a result, import price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Belgium ($X per ton), while the price for the Netherlands ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+18.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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