Kuwait: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Kuwait

The Kuwaiti spherical roller bearing market shrank to $X in 2021, declining by -7.8% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated pronounced growth from 2012 to 2021: its value increased at an average annual rate of +3.3% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption decreased by -23.1% against 2018 indices. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market remained at a lower figure.

Spherical Roller Bearing Exports

Exports from Kuwait

Spherical roller bearing exports from Kuwait shrank to X kg in 2021, waning by -7.4% on 2020 figures. Overall, exports continue to indicate a perceptible downturn. The pace of growth was the most pronounced in 2014 with an increase of 763% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

In value terms, spherical roller bearing exports dropped modestly to $X in 2021. In general, exports, however, enjoyed prominent growth. The pace of growth appeared the most rapid in 2014 with an increase of 664% against the previous year. Over the period under review, the exports hit record highs at $X in 2015; however, from 2016 to 2021, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X kg) was the main destination for spherical roller bearing exports from Kuwait, accounting for a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates totaled -4.5%.

In value terms, the United Arab Emirates ($X) also remains the key foreign market for spherical roller bearings exports from Kuwait.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates stood at +7.2%.

Export Prices by Country

In 2021, the average spherical roller bearing export price amounted to $X per ton, picking up by 7.4% against the previous year. In general, the export price posted a buoyant increase. The most prominent rate of growth was recorded in 2019 when the average export price increased by 238%. As a result, the export price attained the peak level of $X per ton. From 2020 to 2021, the average export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2021, the rate of growth in terms of prices for the United Arab Emirates amounted to +12.3% per year.

Spherical Roller Bearing Imports

Imports into Kuwait

Spherical roller bearing imports into Kuwait dropped to X tons in 2021, declining by -10.1% against 2020. Overall, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.7% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -19.2% against 2018 indices. The growth pace was the most rapid in 2018 when imports increased by 99% against the previous year. As a result, imports reached the peak of X tons. From 2019 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, spherical roller bearing imports shrank to $X in 2021. Over the period under review, total imports indicated a slight increase from 2012 to 2021: its value increased at an average annual rate of +1.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports decreased by -27.0% against 2018 indices. The most prominent rate of growth was recorded in 2018 when imports increased by 81% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and Sweden (X tons) were the main suppliers of spherical roller bearing imports to Kuwait, with a combined 57% share of total imports. These countries were followed by Germany, India, Poland, Singapore, the UK, Romania, Slovakia, Japan and France, which together accounted for a further 34%.

From 2012 to 2021, the biggest increases were recorded for Slovakia (with a CAGR of +105.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), Germany ($X) and Sweden ($X) were the largest spherical roller bearing suppliers to Kuwait, with a combined 61% share of total imports. These countries were followed by China, India, the UK, Romania, Singapore, Poland, Slovakia, Japan and France, which together accounted for a further 25%.

In terms of the main suppliers, Slovakia, with a CAGR of +95.0%, recorded the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average spherical roller bearing import price amounted to $X per ton, rising by 5.6% against the previous year. In general, the import price, however, showed a perceptible curtailment. Over the period under review, average import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+7.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :