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

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

In 2021, the Kuwaiti numerically controlled drilling machine market decreased by -0.1% to $X for the first time since 2016, thus ending a four-year rising trend. In general, consumption, however, saw a prominent expansion. Numerically controlled drilling machine consumption peaked at $X in 2020, and then shrank modestly in the following year.

Production of Numerically Controlled Drilling Machines For Working Metal in Kuwait

In value terms, numerically controlled drilling machine production stood at $X in 2021 estimated in export price. Over the period under review, production, however, enjoyed prominent growth. The pace of growth was the most pronounced in 2014 with an increase of 45%. Numerically controlled drilling machine production peaked at $X in 2019; afterwards, it flattened through to 2021.

Exports of Numerically Controlled Drilling Machines For Working Metal

Exports from Kuwait

In 2021, approx. X kg of numerically controlled drilling machines for working metal were exported from Kuwait; approximately equating the previous year. Over the period under review, exports saw a abrupt descent. The smallest decline of 99.9% was in 2017. Over the period under review, the exports attained the maximum at X kg in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

In value terms, numerically controlled drilling machine exports totaled $X in 2021. In general, exports faced a dramatic decline. The smallest decline of 99.9% was in 2017. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports failed to regain momentum.

Exports by Country

Oman (X kg) was the main destination for numerically controlled drilling machine exports from Kuwait, with a 98% share of total exports. It was followed by Nepal (X kg), with a 1.5% share of total exports.

From 2014 to 2021, the average annual growth rate of volume to Oman was relatively modest.

From 2014 to 2021, the average annual rate of growth in terms of value to Oman was relatively modest.

Export Prices by Country

The average numerically controlled drilling machine export price stood at $X per ton in 2021, almost unchanged from the previous year. In general, the export price recorded a deep setback. The pace of growth was the most pronounced in 2017 when the average export price decreased by 99.9%. The export price peaked at $X per ton in 2014; however, from 2015 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Nepal ($X per ton), while the average price for exports to Oman totaled $X per ton.

From 2014 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the United Arab Emirates (-1.6%).

Imports of Numerically Controlled Drilling Machines For Working Metal

Imports into Kuwait

In 2021, approx. X kg of numerically controlled drilling machines for working metal were imported into Kuwait; rising by 17% compared with the previous year's figure. The total import volume increased at an average annual rate of +5.3% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2020 with an increase of 21%. Imports peaked in 2021 and are likely to see steady growth in the immediate term.

In value terms, numerically controlled drilling machine imports skyrocketed to $X in 2021. Over the period under review, imports posted a strong expansion. As a result, imports attained the peak and are likely to continue growth in the immediate term.

Imports by Country

South Korea (X kg), China (X kg) and the Netherlands (X kg) were the main suppliers of numerically controlled drilling machine imports to Kuwait, together comprising 85% of total imports. The UK, Germany and the United Arab Emirates lagged somewhat behind, together comprising a further 15%.

From 2012 to 2021, the biggest increases were recorded for the UK (with a CAGR of +34.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest numerically controlled drilling machine suppliers to Kuwait were South Korea ($X), the Netherlands ($X) and Germany ($X), together comprising 87% of total imports.

South Korea, with a CAGR of +64.2%, recorded 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 numerically controlled drilling machine import price stood at $X per ton in 2021, with an increase of 22% against the previous year. Over the period under review, import price indicated a moderate expansion from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, numerically controlled drilling machine import price increased by +73.6% against 2016 indices. 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 Germany ($X per ton), while the price for the UK ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+297.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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