Middle East: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Exports

Exports in the Middle East

In 2021, after two years of decline, there was significant growth in overseas shipments of spherical roller bearings, when their volume increased by 31% to X tons. Overall, exports enjoyed a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of 87%. As a result, the exports reached the peak of X tons. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, spherical roller bearing exports skyrocketed to $X in 2021. Over the period under review, exports enjoyed strong growth. The growth pace was the most rapid in 2018 when exports increased by 134%. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the major exporter of spherical roller bearings in the Middle East, with the volume of exports amounting to X tons, which was approx. 61% of total exports in 2021. It was distantly followed by Turkey (X tons) and Israel (X tons), together constituting a 35% share of total exports. Saudi Arabia (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of +6.0% from 2012 to 2021. At the same time, Israel (+54.7%), Saudi Arabia (+9.8%) and Turkey (+4.5%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +54.7% from 2012-2021. While the share of Israel (+9.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of the United Arab Emirates (-4 p.p.) and Turkey (-5.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest spherical roller bearing supplier in the Middle East, comprising 62% of total exports. The second position in the ranking was held by Turkey ($X), with a 23% share of total exports. It was followed by Israel, with an 11% share.

From 2012 to 2021, the average annual growth rate of value in the United Arab Emirates stood at +10.3%. In the other countries, the average annual rates were as follows: Turkey (+5.0% per year) and Israel (+41.9% per year).

Export Prices by Country

The export price in the Middle East stood at $X per ton in 2021, growing by 8.1% against the previous year. Over the last nine-year period, it increased at an average annual rate of +2.8%. The pace of growth was the most pronounced in 2018 an increase of 25%. Over the period under review, the export prices attained the maximum at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major exporting countries. In 2021, major exporting countries recorded the following prices: in Israel ($X per ton) and the United Arab Emirates ($X per ton), while Turkey ($X per ton) and Saudi Arabia ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+4.1%), while the other leaders experienced mixed trends in the export price figures.

Spherical Roller Bearing Imports

Imports in the Middle East

In 2021, purchases abroad of spherical roller bearings increased by 14% to X tons, rising for the second consecutive year after two years of decline. The total import volume increased at an average annual rate of +3.0% over the period 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 2020 when imports increased by 30%. Over the period under review, imports attained the maximum at X tons in 2014; however, from 2015 to 2021, imports failed to regain momentum.

In value terms, spherical roller bearing imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. Over the period under review, imports attained the maximum at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey represented the main importer of spherical roller bearings in the Middle East, with the volume of imports resulting at X tons, which was approx. 47% of total imports in 2021. The United Arab Emirates (X tons) took a 23% share (based on physical terms) of total imports, which put it in second place, followed by Iran (17%) and Saudi Arabia (7.5%). Iraq (X tons) held a little share of total imports.

Imports into Turkey increased at an average annual rate of +2.9% from 2012 to 2021. At the same time, Saudi Arabia (+15.9%) and Iran (+3.7%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +15.9% from 2012-2021. The United Arab Emirates and Iraq experienced a relatively flat trend pattern. While the share of Saudi Arabia (+4.9 p.p.) increased significantly in terms of the total imports from 2012-2021, the share of the United Arab Emirates (-5.1 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported spherical roller bearings in the Middle East, comprising 52% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with a 17% share of total imports. It was followed by the United Arab Emirates, with a 16% share.

In Turkey, spherical roller bearing imports remained relatively stable over the period from 2012-2021. In the other countries, the average annual rates were as follows: Saudi Arabia (+24.1% per year) and the United Arab Emirates (-8.1% per year).

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2021, picking up by 7.3% against the previous year. Overall, the import price, however, continues to indicate a pronounced contraction. The level of import peaked at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2021, 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 (+7.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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