Kuwait: Oil Dispensing Pump Market 2024

Oil Dispensing Pump Market Size in Kuwait

In 2021, the Kuwaiti oil dispensing pump market decreased by -19.5% to $X, falling for the second year in a row after three years of growth. Overall, consumption continues to indicate a pronounced reduction. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2021, consumption remained at a lower figure.

Oil Dispensing Pump Exports

Exports from Kuwait

In 2021, overseas shipments of petrol and oil dispensing pumps decreased by -16.1% to X units for the first time since 2017, thus ending a three-year rising trend. In general, exports, however, showed significant growth. The most prominent rate of growth was recorded in 2013 when exports increased by 2,300% against the previous year. The exports peaked at X units in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

In value terms, oil dispensing pump exports reduced notably to $X in 2021. Over the period under review, exports, however, saw significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,544% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for oil dispensing pump exports from Kuwait, accounting for a 54% share of total exports. Moreover, oil dispensing pump exports to the United Arab Emirates exceeded the volume sent to the second major destination, Oman (X units), twofold. The third position in this ranking was taken by Saudi Arabia (X units), with a 12% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled +34.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (+25.1% per year) and Saudi Arabia (0.0% per year).

In value terms, the largest markets for oil dispensing pump exported from Kuwait were Oman ($X), the United Arab Emirates ($X) and Saudi Arabia ($X), together accounting for 77% of total exports. Qatar, Germany, Iran and Iraq lagged somewhat behind, together accounting for a further 18%.

Among the main countries of destination, Germany, with a CAGR of +83.1%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average oil dispensing pump export price stood at $X per unit in 2021, remaining relatively unchanged against the previous year. Over the period under review, the export price, however, saw modest growth. The pace of growth was the most pronounced in 2015 an increase of 88%. Over the period under review, the average export prices hit record highs at $X per unit in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably country of destination: the country with the highest price was Qatar ($X per unit), while the average price for exports to Germany ($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 the United States (+215.6%), while the prices for the other major destinations experienced more modest paces of growth.

Oil Dispensing Pump Imports

Imports into Kuwait

In 2021, purchases abroad of petrol and oil dispensing pumps decreased by -17.9% to X units, falling for the second year in a row after five years of growth. In general, imports, however, recorded measured growth. The pace of growth was the most pronounced in 2015 with an increase of 210% against the previous year. Imports peaked at X units in 2019; however, from 2020 to 2021, imports remained at a lower figure.

In value terms, oil dispensing pump imports shrank remarkably to $X in 2021. Over the period under review, imports faced a abrupt descent. The pace of growth appeared the most rapid in 2015 with an increase of 185%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

Italy (X units), Japan (X units) and China (X units) were the main suppliers of oil dispensing pump imports to Kuwait, together accounting for 32% of total imports. Spain, the Czech Republic, Canada, the United Arab Emirates, the UK, Indonesia, Germany and Norway lagged somewhat behind, together comprising a further 12%.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +47.5%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest oil dispensing pump suppliers to Kuwait were Norway ($X), Italy ($X) and Canada ($X), together accounting for 37% of total imports. These countries were followed by Japan, Germany, the United Arab Emirates, the UK, Spain, China, the Czech Republic and Indonesia, which together accounted for a further 25%.

The Czech Republic, with a CAGR of +37.7%, saw 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 oil dispensing pump import price stood at $X per unit in 2021, reducing by -8.7% against the previous year. In general, the import price saw a abrupt shrinkage. The pace of growth appeared the most rapid in 2014 when the average import price increased by 125% against the previous year. The import price peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Norway ($X per unit), while the price for Indonesia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Russia (+737.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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