Oman: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in Oman

In 2022, the Omani market for bearing housings incorporating ball or roller bearings decreased by -1.4% to $X for the first time since 2017, thus ending a four-year rising trend. In general, consumption enjoyed resilient growth. Bearing housing with ball bearing consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports from Oman

In 2022, after six years of growth, there was decline in overseas shipments of bearing housings incorporating ball or roller bearings, when their volume decreased by -4.7% to X tons. In general, exports, however, showed a significant increase. The growth pace was the most rapid in 2019 with an increase of 699% against the previous year. Over the period under review, the exports hit record highs at X tons in 2021, and then dropped in the following year.

In value terms, bearing housing with ball bearing exports declined to $X in 2022. Over the period under review, exports, however, posted significant growth. The growth pace was the most rapid in 2019 with an increase of 303% against the previous year. The exports peaked at $X in 2021, and then reduced in the following year.

Exports by Country

Yemen (X tons), the United Arab Emirates (X tons) and Qatar (X tons) were the main destinations of bearing housing with ball bearing exports from Oman, with a combined 100% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Yemen (with a CAGR of +475.3%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Yemen ($X) remains the key foreign market for bearing housings incorporating ball or roller bearings exports from Oman, comprising 66% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 29% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Yemen totaled +624.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+76.5% per year) and Qatar (+5.3% per year).

Export Prices by Country

In 2022, the average export price for bearing housings incorporating ball or roller bearings amounted to $X per ton, approximately equating the previous year. Overall, the export price continues to indicate a mild slump. The most prominent rate of growth was recorded in 2015 an increase of 115%. As a result, the export price attained the peak level of $X per ton. From 2016 to 2022, the average export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was Yemen ($X per ton), while the average price for exports to Qatar ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Yemen (+25.8%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports into Oman

In 2022, imports of bearing housings incorporating ball or roller bearings into Oman totaled X tons, picking up by 7.7% against the year before. Over the period under review, imports recorded prominent growth. The growth pace was the most rapid in 2014 with an increase of 144% against the previous year. As a result, imports reached the peak of X tons. From 2015 to 2022, the growth of imports remained at a lower figure.

In value terms, bearing housing with ball bearing imports reduced to $X in 2022. Overall, imports saw a resilient increase. The pace of growth was the most pronounced in 2013 with an increase of 117%. Imports peaked at $X in 2021, and then shrank in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest bearing housing with ball bearing supplier to Oman, with a 65% share of total imports. Moreover, bearing housing with ball bearing imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, the United States (X tons), more than tenfold. The third position in this ranking was held by China (X tons), with a 3.7% share.

From 2012 to 2022, the average annual growth rate of volume from the United Arab Emirates amounted to +23.3%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+20.9% per year) and China (-0.8% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of bearing housings incorporating ball or roller bearings to Oman, comprising 39% of total imports. The second position in the ranking was taken by the United States ($X), with an 8% share of total imports. It was followed by the UK, with a 5.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates stood at +15.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+10.3% per year) and the UK (+2.5% per year).

Import Prices by Country

In 2022, the average import price for bearing housings incorporating ball or roller bearings amounted to $X per ton, shrinking by -16.2% against the previous year. Over the period under review, the import price recorded a slight descent. The most prominent rate of growth was recorded in 2016 an increase of 71%. Over the period under review, average import prices attained the peak figure at $X per ton in 2021, and then shrank markedly in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+23.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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