Oman: Market for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings 2024

Market Size for Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings in Oman

In 2021, the Omani market for bearing housings not incorporating ball or roller bearings, plain shaft bearings increased by 6.6% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption posted a significant expansion. Bearing housing without ball bearing consumption peaked at $X in 2018; however, from 2019 to 2021, consumption stood at a somewhat lower figure.

Production of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings in Oman

In value terms, bearing housing without ball bearing production stood at $X in 2021 estimated in export price. Over the period under review, production showed a remarkable increase. The pace of growth was the most pronounced in 2016 when the production volume increased by 119% against the previous year. Bearing housing without ball bearing production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Exports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Exports from Oman

In 2021, overseas shipments of bearing housings not incorporating ball or roller bearings, plain shaft bearings decreased by -56.5% to X tons, falling for the sixth consecutive year after four years of growth. Overall, exports recorded a sharp decline. The most prominent rate of growth was recorded in 2014 with an increase of 41%. The exports peaked at X tons in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, bearing housing without ball bearing exports reduced sharply to $X in 2021. Over the period under review, exports faced a precipitous decrease. The most prominent rate of growth was recorded in 2014 when exports increased by 51% against the previous year. Over the period under review, the exports attained the maximum at $X in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

Exports by Country

France (X tons) was the main destination for bearing housing without ball bearing exports from Oman, with a 68% share of total exports. Moreover, bearing housing without ball bearing exports to France exceeded the volume sent to the second major destination, the Netherlands (X tons), fourfold. The third position in this ranking was taken by India (X kg), with a 6.6% share.

From 2012 to 2021, the average annual growth rate of volume to France stood at +100.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+107.5% per year) and India (+2.0% per year).

In value terms, France ($X) remains the key foreign market for bearing housings not incorporating ball or roller bearings, plain shaft bearings exports from Oman, comprising 77% of total exports. The second position in the ranking was taken by the Netherlands ($X), with a 16% share of total exports. It was followed by India, with a 3.1% share.

From 2012 to 2021, the average annual growth rate of value to France amounted to +92.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: the Netherlands (+141.6% per year) and India (-1.8% per year).

Export Prices by Country

The average export price for bearing housings not incorporating ball or roller bearings, plain shaft bearings stood at $X per ton in 2021, increasing by 36% against the previous year. Over the period under review, the export price showed a buoyant expansion. The most prominent rate of growth was recorded in 2020 when the average export price increased by 191%. Over the period under review, the average export prices hit record highs in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was France ($X per ton), while the average price for exports to the United Arab Emirates ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to the Netherlands (+17.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Bearing Housings Not Incorporating Ball Or Roller Bearings, Plain Shaft Bearings

Imports into Oman

In 2021, overseas purchases of bearing housings not incorporating ball or roller bearings, plain shaft bearings increased by 14% to X tons, rising for the sixth year in a row after two years of decline. In general, imports saw resilient growth. The most prominent rate of growth was recorded in 2013 with an increase of 73% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see steady growth in the immediate term.

In value terms, bearing housing without ball bearing imports surged to $X in 2021. Overall, imports posted a prominent increase. The most prominent rate of growth was recorded in 2013 when imports increased by 120%. Imports peaked in 2021 and are likely to continue growth in the near future.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest bearing housing without ball bearing supplier to Oman, with a 43% share of total imports. Moreover, bearing housing without ball bearing imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, China (X tons), fourfold. The third position in this ranking was taken by Japan (X tons), with a 7.3% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates amounted to +20.9%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+57.0% per year) and Japan (-3.9% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of bearing housings not incorporating ball or roller bearings, plain shaft bearings to Oman, comprising 27% of total imports. The second position in the ranking was held by Japan ($X), with an 11% share of total imports. It was followed by Germany, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +22.2%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (+2.9% per year) and Germany (+8.1% per year).

Import Prices by Country

The average import price for bearing housings not incorporating ball or roller bearings, plain shaft bearings stood at $X per ton in 2021, growing by 23% against the previous year. Over the last nine-year period, it increased at an average annual rate of +4.2%. The most prominent rate of growth was recorded in 2014 when the average import price increased by 30%. As a result, import price attained the peak level of $X per ton. From 2015 to 2021, the average import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Germany ($X per ton), while the price for Thailand ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Australia (+27.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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