Middle East: Roller Bearing Market 2022

Roller Bearing Market Size in the Middle East

The Middle Eastern roller bearing market was finally on the rise to reach $X in 2021, after two years of decline. The market value increased at an average annual rate of +3.9% from 2012 to 2021; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $X. From 2019 to 2021, the growth of the market failed to regain momentum.

Roller Bearing Production in the Middle East

In value terms, roller bearing production stood at $X in 2021 estimated in export price. The total production indicated a prominent increase from 2012 to 2021: its value increased at an average annual rate of +7.9% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, production decreased by -12.1% against 2018 indices. The pace of growth appeared the most rapid in 2013 with an increase of 43% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2021, production remained at a lower figure.

Roller Bearing Exports

Exports in the Middle East

In 2021, shipments abroad of roller bearings was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. Total exports indicated a buoyant increase from 2012 to 2021: its volume increased at an average annual rate of +6.0% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, roller bearing exports soared to $X in 2021. In general, exports recorded a strong increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons) and Turkey (X tons), together finishing at 98% of total export.

From 2012 to 2021, the biggest increases were in Turkey (with a CAGR of +6.8%).

In value terms, the largest roller bearing supplying countries in the Middle East were the United Arab Emirates ($X) and Turkey ($X).

In terms of the main exporting countries, the United Arab Emirates, with a CAGR of +11.1%, recorded the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, surging by 9.8% against the previous year. Over the period from 2012 to 2021, it increased at an average annual rate of +2.7%. The growth pace was the most rapid in 2014 when the export price increased by 26% against the previous year. Over the period under review, the export prices reached the maximum in 2021 and is expected to retain growth in the near future.

Average prices varied noticeably amongst the major exporting countries. In 2021, the country with the highest price was Turkey ($X per ton), while the United Arab Emirates stood at $X per ton.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+5.5%).

Roller Bearing Imports

Imports in the Middle East

In 2021, the amount of roller bearings imported in the Middle East dropped slightly to X tons, flattening at the previous year. In general, imports recorded a mild slump. The most prominent rate of growth was recorded in 2019 when imports increased by 26% against the previous year. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

In value terms, roller bearing imports dropped slightly to $X in 2021. Over the period under review, imports saw a mild shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 6.5%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the four major importers of roller bearings, namely the United Arab Emirates, Turkey, Saudi Arabia and Iran, represented more than two-thirds of total import. Iraq (X tons) ranks next in terms of the total imports with a 6% share, followed by Israel (5.7%). Lebanon (X tons) held a little share of total imports.

From 2012 to 2021, the biggest increases were in Iran (with a CAGR of +10.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Saudi Arabia ($X), Turkey ($X) and the United Arab Emirates ($X) were the countries with the highest levels of imports in 2021, together accounting for 65% of total imports. Iran, Israel, Iraq and Lebanon lagged somewhat behind, together accounting for a further 29%.

In terms of the main importing countries, Iran, with a CAGR of +9.3%, saw 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

The import price in the Middle East stood at $X per ton in 2021, approximately equating the previous year. Over the period under review, the import price, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 an increase of 14% against the previous year. Over the period under review, import prices attained the maximum at $X per ton in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+2.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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