Kuwait: Outboard Boat Motors Market 2024

Outboard Boat Motors Market Size in Kuwait

After five years of growth, the Kuwaiti outboard boat motors market decreased by X% to $X in 2022. Over the period under review, consumption, however, showed tangible growth. Outboard boat motors consumption peaked at $X in 2021, and then fell in the following year.

Outboard Boat Motors Exports

Exports from Kuwait

In 2022, shipments abroad of outboard motors for marine propulsion was finally on the rise to reach X units for the first time since 2019, thus ending a two-year declining trend. Over the period under review, exports, however, showed a perceptible decrease. The most prominent rate of growth was recorded in 2018 when exports increased by X%. The exports peaked at X units in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

In value terms, outboard boat motors exports skyrocketed to $X in 2022. In general, exports, however, showed a noticeable shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

Oman (X units) was the main destination for outboard boat motors exports from Kuwait, with a X% share of total exports. Moreover, outboard boat motors exports to Oman exceeded the volume sent to the second major destination, the United Arab Emirates (X units), threefold. The third position in this ranking was taken by Bahrain (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume to Oman stood at X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Bahrain (X% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for outboard motors for marine propulsion exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by Qatar ($X), with an X% share of total exports. It was followed by Maldives, with a X% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates amounted to X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (X% per year) and Maldives (X% per year).

Export Prices by Country

In 2022, the average outboard boat motors export price amounted to $X per unit, waning by X% against the previous year. Overall, the export price, however, saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 when the average export price increased by X%. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was Maldives ($X per unit), while the average price for exports to Iran ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Maldives (X%), while the prices for the other major destinations experienced more modest paces of growth.

Outboard Boat Motors Imports

Imports into Kuwait

In 2022, overseas purchases of outboard motors for marine propulsion decreased by X% to X units for the first time since 2017, thus ending a four-year rising trend. Overall, imports, however, showed a perceptible expansion. The pace of growth was the most pronounced in 2019 with an increase of X%. Over the period under review, imports attained the maximum at X units in 2021, and then dropped slightly in the following year.

In value terms, outboard boat motors imports reduced to $X in 2022. Over the period under review, imports, however, showed pronounced growth. The growth pace was the most rapid in 2020 when imports increased by X%. Imports peaked at $X in 2021, and then reduced in the following year.

Imports by Country

In 2022, Japan (X units) constituted the largest supplier of outboard boat motors to Kuwait, accounting for a X% share of total imports. Moreover, outboard boat motors imports from Japan exceeded the figures recorded by the second-largest supplier, the United States (X units), twofold. The third position in this ranking was held by Belgium (X units), with a X% share.

From 2012 to 2022, the average annual growth rate of volume from Japan was relatively modest. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Belgium (X% per year).

In value terms, Japan ($X) constituted the largest supplier of outboard motors for marine propulsion to Kuwait, comprising X% of total imports. The second position in the ranking was held by the United States ($X), with a X% share of total imports. It was followed by Belgium, with a X% share.

From 2012 to 2022, the average annual growth rate of value from Japan totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (X% per year) and Belgium (X% per year).

Import Prices by Country

The average outboard boat motors import price stood at $X per unit in 2022, declining by X% against the previous year. Overall, the import price showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 when the average import price increased by X% against the previous year. The import price peaked at $X per unit in 2017; however, from 2018 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Belgium ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Belgium (X%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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