Middle East: Ball Bearing Parts Market 2022

Ball Bearing Parts Market Size in the Middle East

In 2021, the Middle Eastern ball bearing parts market decreased by -6.4% to $X for the first time since 2018, thus ending a two-year rising trend. The market value increased at an average annual rate of +1.7% from 2012 to 2021; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The level of consumption peaked at $X in 2020, and then shrank in the following year.

Ball Bearing Parts Production in the Middle East

In value terms, ball bearing parts production reduced to $X in 2021 estimated in export price. The total output value increased at an average annual rate of +2.4% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 26% against the previous year. The level of production peaked at $X in 2020, and then dropped slightly in the following year.

Ball Bearing Parts Exports

Exports in the Middle East

In 2021, shipments abroad of parts of ball or roller bearings was finally on the rise to reach X tons after two years of decline. Total exports indicated a measured increase from 2012 to 2021: its volume increased at an average annual rate of +4.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing parts exports soared to $X in 2021. In general, exports posted resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey represented the major exporting country with an export of around X tons, which reached 81% of total exports. It was distantly followed by the United Arab Emirates (X tons), achieving a 14% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to ball bearing parts exports from Turkey stood at +2.9%. At the same time, Saudi Arabia (+40.5%) and the United Arab Emirates (+15.9%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +40.5% from 2012-2021. While the share of the United Arab Emirates (+8.5 p.p.) and Saudi Arabia (+3.2 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Turkey (-8.1 p.p.) displayed negative dynamics.

In value terms, Turkey ($X) remains the largest ball bearing parts supplier in the Middle East, comprising 59% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 21% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value in Turkey amounted to +1.3%. In the other countries, the average annual rates were as follows: Saudi Arabia (+64.1% per year) and the United Arab Emirates (+19.2% per year).

Export Prices by Country

In 2021, the export price in the Middle East amounted to $X per ton, rising by 27% against the previous year. Over the last nine years, it increased at an average annual rate of +1.1%. As a result, the export price attained the peak level and is likely to continue growth in the immediate term.

There were significant differences in the average prices amongst the major exporting countries. In 2021, the country with the highest price was Saudi Arabia ($X per ton), while Turkey ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+16.8%), while the other leaders experienced mixed trends in the export price figures.

Ball Bearing Parts Imports

Imports in the Middle East

For the fifth year in a row, the Middle East recorded growth in supplies from abroad of parts of ball or roller bearings, which increased by 20% to X tons in 2021. Overall, imports enjoyed a resilient expansion. The most prominent rate of growth was recorded in 2020 with an increase of 37%. The volume of import peaked in 2021 and is likely to continue growth in the immediate term.

In value terms, ball bearing parts imports reached $X in 2021. The total import value increased at an average annual rate of +1.4% from 2012 to 2021; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being observed throughout the analyzed period. The pace of growth appeared the most rapid in 2013 with an increase of 22%. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

Turkey prevails in imports structure, reaching X tons, which was near 70% of total imports in 2021. Iran (X tons) took the second position in the ranking, followed by the United Arab Emirates (X tons) and Israel (X tons). All these countries together held near 23% share of total imports. Saudi Arabia (X tons) and Iraq (X tons) followed a long way behind the leaders.

From 2012 to 2021, average annual rates of growth with regard to ball bearing parts imports into Turkey stood at +16.1%. At the same time, Israel (+20.2%), the United Arab Emirates (+6.1%), Iraq (+5.0%) and Iran (+3.1%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +20.2% from 2012-2021. By contrast, Saudi Arabia (-13.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Israel increased by +30 and +3.2 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported parts of ball or roller bearings in the Middle East, comprising 51% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 14% share of total imports. It was followed by the United Arab Emirates, with a 12% share.

In Turkey, ball bearing parts imports expanded at an average annual rate of +5.3% over the period from 2012-2021. The remaining importing countries recorded the following average annual rates of imports growth: Saudi Arabia (-9.6% per year) and the United Arab Emirates (+7.4% per year).

Import Prices by Country

In 2021, the import price in the Middle East amounted to $X per ton, waning by -4.7% against the previous year. In general, the import price continues to indicate a deep downturn. The growth pace was the most rapid in 2014 an increase of 8.2%. Over the period under review, import prices attained the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Saudi Arabia ($X per ton), while Iran ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+4.0%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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