Kuwait: Electric Rotary Converter Market 2024

Electric Rotary Converter Market Size in Kuwait

The Kuwaiti electric rotary converter market stood at $X in 2021, approximately mirroring the previous year. Over the period under review, consumption, however, saw a remarkable increase. As a result, consumption attained the peak level of $X. From 2016 to 2021, the growth of the market remained at a lower figure.

Electric Rotary Converter Production in Kuwait

In value terms, electric rotary converter production shrank modestly to $X in 2021 estimated in export price. Over the period under review, production continues to indicate a deep slump. The growth pace was the most rapid in 2020 with an increase of 8.5% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Electric Rotary Converter Exports

Exports from Kuwait

In 2021, overseas shipments of electric rotary converters decreased by 0% to X units, falling for the second year in a row after two years of growth. Overall, exports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2014 when exports increased by 10,600% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, electric rotary converter exports surged to $X in 2021. Over the period under review, exports recorded a perceptible reduction. The growth pace was the most rapid in 2014 with an increase of 3,444% against the previous year. As a result, the exports reached the peak of $X. From 2015 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

Bahrain (X units) and Saudi Arabia (X units) were the main destinations of electric rotary converter exports from Kuwait.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Bahrain (with a CAGR of +13.0%).

In value terms, Saudi Arabia ($X) remains the key foreign market for electric rotary converters exports from Kuwait, comprising 85% of total exports. The second position in the ranking was held by Bahrain ($X), with a 13% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to Saudi Arabia stood at +10.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+24.4% per year) and Qatar (-45.5% per year).

Export Prices by Country

In 2021, the average electric rotary converter export price amounted to $X per unit, with an increase of 134% against the previous year. Overall, the export price, however, showed a pronounced contraction. Over the period under review, the average export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per unit), while the average price for exports to Bahrain ($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 Saudi Arabia (+15.5%), while the prices for the other major destinations experienced mixed trend patterns.

Electric Rotary Converter Imports

Imports into Kuwait

In 2021, overseas purchases of electric rotary converters decreased by -6% to X units, falling for the second year in a row after three years of growth. Over the period under review, imports, however, posted a significant expansion. The pace of growth appeared the most rapid in 2015 with an increase of 1,431% 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, electric rotary converter imports rose rapidly to $X in 2021. Overall, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2015 when imports increased by 3,820% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X units) constituted the largest electric rotary converter supplier to Kuwait, accounting for a 72% share of total imports. Moreover, electric rotary converter imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, Italy (X units), fivefold. China (X units) ranked third in terms of total imports with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia amounted to +75.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+73.6% per year) and China (+22.4% per year).

In value terms, Saudi Arabia ($X) constituted the largest supplier of electric rotary converters to Kuwait, comprising 69% of total imports. The second position in the ranking was taken by Italy ($X), with a 9.2% share of total imports. It was followed by China, with a 3.2% share.

From 2012 to 2021, the average annual rate of growth in terms of value from Saudi Arabia totaled +48.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Italy (+81.7% per year) and China (+27.6% per year).

Import Prices by Country

The average electric rotary converter import price stood at $X per unit in 2021, growing by 13% against the previous year. Over the period under review, the import price posted strong growth. The most prominent rate of growth was recorded in 2015 when the average import price increased by 155% against the previous year. As a result, import price reached the peak level of $X per unit. From 2016 to 2021, the average import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+32.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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