Kuwait: Market for Wiring sets used in vehicles, aircraft or ships 2024

Market Size for Wiring sets used in vehicles, aircraft or ships in Kuwait

In 2022, the Kuwaiti market for wiring sets used in vehicles, aircraft or ships decreased by -2.7% to $X, falling for the third year in a row after two years of growth. Overall, consumption showed a noticeable downturn. Consumption of peaked at $X in 2014; however, from 2015 to 2022, consumption failed to regain momentum.

Exports of Wiring sets used in vehicles, aircraft or ships

Exports from Kuwait

In 2022, exports of wiring sets used in vehicles, aircraft or ships from Kuwait surged to X kg, jumping by 37% on 2021. Over the period under review, exports saw a resilient expansion. The pace of growth was the most pronounced in 2019 with an increase of 3,475% against the previous year. Over the period under review, the exports of attained the maximum at X kg in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, exports of wiring sets used in vehicles, aircraft or ships surged to $X in 2022. In general, exports continue to indicate significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 767% against the previous year. Over the period under review, the exports of reached the maximum at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

Belgium (X kg) and Turkey (X kg) were the main destinations of exports of wiring sets used in vehicles, aircraft or ships from Kuwait.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Belgium (with a CAGR of +61.3%).

In value terms, Belgium ($X) and Turkey ($X) constituted the largest markets for wiring sets used in vehicles, aircraft or ships exported from Kuwait worldwide.

Belgium, with a CAGR of +88.0%, recorded the highest growth rate of the value of exports, in terms of the main countries of destination over the period under review.

Export Prices by Country

In 2022, the average export price for wiring sets used in vehicles, aircraft or ships amounted to $X per ton, therefore, remained relatively stable against the previous year. In general, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2018 when the average export price increased by 762%. As a result, the export price reached the peak level of $X per ton. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

Average prices varied noticeably for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per ton), while the average price for exports to Belgium totaled $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+117.2%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Wiring sets used in vehicles, aircraft or ships

Imports into Kuwait

In 2022, the amount of wiring sets used in vehicles, aircraft or ships imported into Kuwait reduced to X tons, declining by -9.4% against the previous year. Overall, imports recorded a abrupt contraction. The growth pace was the most rapid in 2018 when imports increased by 42% against the previous year. Over the period under review, imports of attained the peak figure at X tons in 2014; however, from 2015 to 2022, imports remained at a lower figure.

In value terms, imports of wiring sets used in vehicles, aircraft or ships expanded modestly to $X in 2022. In general, imports saw a slight decline. The pace of growth appeared the most rapid in 2018 with an increase of 17% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X tons), Singapore (X tons) and Japan (X tons) were the main suppliers of imports of wiring sets used in vehicles, aircraft or ships to Kuwait, with a combined 76% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +52.1%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of wiring sets used in vehicles, aircraft or ships to Kuwait, comprising 33% of total imports. The second position in the ranking was held by Japan ($X), with a 12% share of total imports. It was followed by Singapore, with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United States stood at +2.0%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-7.6% per year) and Singapore (+72.3% per year).

Import Prices by Country

In 2022, the average import price for wiring sets used in vehicles, aircraft or ships amounted to $X per ton, with an increase of 12% against the previous year. In general, import price indicated a remarkable increase from 2012 to 2022: its price increased at an average annual rate of +6.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, import price for wiring sets used in vehicles, aircraft or ships increased by +95.0% against 2019 indices. The pace of growth was the most pronounced in 2020 when the average import price increased by 85% against the previous year. The import price peaked in 2022 and is expected to retain growth in years to come.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Singapore ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+21.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :