Kuwait: Stone Sawing Machine Market 2024

Stone Sawing Machine Market Size in Kuwait

In 2021, after four years of growth, there was decline in the Kuwaiti stone sawing machine market, when its value decreased by -2.7% to $X. In general, consumption, however, saw a remarkable increase. Over the period under review, the market reached the peak level at $X in 2020, and then shrank slightly in the following year.

Stone Sawing Machine Exports

Exports from Kuwait

In 2021, the amount of sawing machines for working stone, ceramics and concrete exported from Kuwait dropped sharply to X units, with a decrease of -82.4% against the previous year. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2014 when exports increased by 533% 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, stone sawing machine exports reduced sharply to $X in 2021. In general, exports recorded a pronounced descent. The most prominent rate of growth was recorded in 2014 when exports increased by 527%. As a result, the exports attained the peak of $X. From 2015 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Lebanon (X units) and the United Arab Emirates (X units) were the main destinations of stone sawing machine exports from Kuwait. Moreover, stone sawing machine exports in Lebanon exceeded the figures recorded by the second-largest exporter, the United Arab Emirates, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by the United Arab Emirates (with a CAGR of 0.0%).

In value terms, the United Arab Emirates ($X) remains the key foreign market for sawing machines for working stone, ceramics and concrete exports from Kuwait, comprising 75% of total exports. The second position in the ranking was taken by Lebanon ($X), with a 15% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled -4.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Lebanon (+30.2% per year) and Qatar (+5.3% per year).

Export Prices by Country

In 2021, the average stone sawing machine export price amounted to $X per unit, reducing by -8% against the previous year. Overall, the export price showed a noticeable decrease. The most prominent rate of growth was recorded in 2019 when the average export price increased by 284%. As a result, the export price attained the peak level of $X per unit. From 2020 to 2021, the average export prices failed to regain momentum.

Prices varied noticeably country of destination: the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Lebanon ($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 Lebanon (+26.2%), while the prices for the other major destinations experienced mixed trend patterns.

Stone Sawing Machine Imports

Imports into Kuwait

In 2021, after four years of growth, there was significant decline in supplies from abroad of sawing machines for working stone, ceramics and concrete, when their volume decreased by -6.9% to X units. Over the period under review, imports, however, showed a prominent increase. The pace of growth appeared the most rapid in 2017 with an increase of 175% against the previous year. Imports peaked at X units in 2020, and then contracted in the following year.

In value terms, stone sawing machine imports declined to $X in 2021. Overall, imports, however, continue to indicate a mild expansion. The most prominent rate of growth was recorded in 2017 when imports increased by 102% against the previous year. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Jordan (X units) constituted the largest supplier of stone sawing machine to Kuwait, accounting for a 43% share of total imports. Moreover, stone sawing machine imports from Jordan exceeded the figures recorded by the second-largest supplier, Russia (X units), fourfold. China (X units) ranked third in terms of total imports with a 6.3% share.

From 2012 to 2021, the average annual growth rate of volume from Jordan stood at +29.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Russia (+3.9% per year) and China (+12.3% per year).

In value terms, the largest stone sawing machine suppliers to Kuwait were the United States ($X), China ($X) and Lebanon ($X), with a combined 71% share of total imports.

The United States, with a CAGR of +47.8%, saw the highest growth rate of 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 stone sawing machine import price stood at $X per unit in 2021, waning by -1.8% against the previous year. Over the period under review, the import price showed a abrupt curtailment. The pace of growth was the most pronounced in 2014 an increase of 78%. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Syrian Arab Republic (+19.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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