Kuwait: Self-Propelled Rock Cutter Market 2024

Self-Propelled Rock Cutter Market Size in Kuwait

In 2021, the Kuwaiti self-propelled rock cutter market decreased by -45.6% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption, however, enjoyed a resilient increase. As a result, consumption reached the peak level of $X. From 2017 to 2021, the growth of the market failed to regain momentum.

Self-Propelled Rock Cutter Production in Kuwait

In value terms, self-propelled rock cutter production shrank remarkably to $X in 2021 estimated in export price. In general, production, however, saw a buoyant expansion. Over the period under review, production attained the maximum level at $X in 2020, and then contracted notably in the following year.

Self-Propelled Rock Cutter Exports

Exports from Kuwait

In 2021, overseas shipments of self-propelled coal or rock cutters and tunnelling machinery increased by 13% to X units, rising for the third year in a row after three years of decline. Over the period under review, exports enjoyed buoyant growth. The pace of growth appeared the most rapid in 2015 with an increase of 144% against the previous year. As a result, the exports attained the peak of X units. From 2016 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, self-propelled rock cutter exports fell notably to $X in 2021. In general, exports saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 with an increase of 73% against the previous year. As a result, the exports attained the peak of $X. From 2016 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for self-propelled rock cutter exports from Kuwait, accounting for a 61% share of total exports. Moreover, self-propelled rock cutter exports to the United Arab Emirates exceeded the volume sent to the second major destination, Qatar (X units), twofold. Saudi Arabia (X units) ranked third in terms of total exports with a 5.6% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +11.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+19.6% per year) and Saudi Arabia (0.0% per year).

In value terms, Bahrain ($X), the United Arab Emirates ($X) and Qatar ($X) were the largest markets for self-propelled rock cutter exported from Kuwait worldwide, with a combined 97% share of total exports.

The United Arab Emirates, with a CAGR of +13.9%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average self-propelled rock cutter export price stood at $X per unit in 2021, shrinking by -25% against the previous year. Over the period under review, the export price continues to indicate a abrupt descent. The pace of growth was the most pronounced in 2016 an increase of 126% against the previous year. As a result, the export price reached the peak level of $X per unit. From 2017 to 2021, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was Bahrain ($X per unit), while the average price for exports to Saudi Arabia ($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 Bahrain (+4.2%), while the prices for the other major destinations experienced mixed trend patterns.

Self-Propelled Rock Cutter Imports

Imports into Kuwait

In 2021, imports of self-propelled coal or rock cutters and tunnelling machinery into Kuwait skyrocketed to X units, increasing by 2,500% against 2020 figures. Over the period under review, imports saw a significant expansion. Over the period under review, imports attained the maximum at X units in 2016; however, from 2017 to 2021, imports remained at a lower figure.

In value terms, self-propelled rock cutter imports soared to $X in 2021. In general, imports recorded a significant increase. Over the period under review, imports reached the peak figure at $X in 2019; however, from 2020 to 2021, imports remained at a lower figure.

Imports by Country

Belgium (X units), Italy (X units) and Australia (X units) were the main suppliers of self-propelled rock cutter imports to Kuwait, with a combined 69% share of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Italy (with a CAGR of +47.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X) constituted the largest supplier of self-propelled coal or rock cutters and tunnelling machinery to Kuwait, comprising 55% of total imports. The second position in the ranking was taken by the UK ($X), with a 21% share of total imports. It was followed by Italy, with a 5.9% share.

From 2012 to 2021, the average annual growth rate of value from Belgium stood at +77.9%. The remaining supplying countries recorded the following average annual rates of imports growth: the UK (+30.3% per year) and Italy (+65.2% per year).

Import Prices by Country

In 2021, the average self-propelled rock cutter import price amounted to $X per unit, picking up by 8.8% against the previous year. Over the period under review, the import price showed a buoyant increase. The pace of growth was the most pronounced in 2017 when the average import price increased by 157%. Over the period under review, average import prices attained the maximum in 2021 and is likely to continue growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by China (+16.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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