Oman: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in Oman

In 2021, the Omani tapered roller bearing market decreased by -35.7% to $X for the first time since 2017, thus ending a three-year rising trend. Over the period under review, consumption, however, enjoyed a prominent increase. Over the period under review, the market hit record highs at $X in 2020, and then fell remarkably in the following year.

Tapered Roller Bearing Exports

Exports from Oman

For the tenth year in a row, Oman recorded growth in shipments abroad of tapered roller bearings, which increased by 13% to X tons in 2021. In general, exports showed significant growth. The most prominent rate of growth was recorded in 2019 when exports increased by 254% against the previous year. The exports peaked in 2021 and are expected to retain growth in the near future.

In value terms, tapered roller bearing exports declined dramatically to $X in 2021. Over the period under review, exports showed a significant increase. The pace of growth was the most pronounced in 2019 with an increase of 324% against the previous year. Over the period under review, the exports attained the maximum at $X in 2020, and then reduced remarkably in the following year.

Exports by Country

Yemen (X tons) was the main destination for tapered roller bearing exports from Oman, with a 74% share of total exports. Moreover, tapered roller bearing exports to Yemen exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), threefold. The third position in this ranking was taken by Australia (X tons), with a 2.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Yemen totaled +164.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+53.5% per year) and Australia (+552.2% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for tapered roller bearings exports from Oman, comprising 60% of total exports. The second position in the ranking was held by Australia ($X), with an 18% share of total exports. It was followed by Yemen, with a 10% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +46.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Australia (+410.5% per year) and Yemen (+102.9% per year).

Export Prices by Country

The average tapered roller bearing export price stood at $X per ton in 2021, dropping by -27.8% against the previous year. In general, the export price showed a abrupt decrease. The pace of growth appeared the most rapid in 2019 an increase of 20% against the previous year. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices remained at a lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Australia ($X per ton), while the average price for exports to Yemen ($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 Qatar (+8.5%), while the prices for the other major destinations experienced a decline.

Tapered Roller Bearing Imports

Imports into Oman

After two years of growth, supplies from abroad of tapered roller bearings decreased by -29.4% to X tons in 2021. In general, imports, however, continue to indicate significant growth. The most prominent rate of growth was recorded in 2013 when imports increased by 309%. Imports peaked at X tons in 2020, and then declined markedly in the following year.

In value terms, tapered roller bearing imports shrank sharply to $X in 2021. Over the period under review, imports, however, showed prominent growth. The growth pace was the most rapid in 2013 when imports increased by 300%. Imports peaked at $X in 2020, and then dropped dramatically in the following year.

Imports by Country

In 2021, the United Arab Emirates (X tons) constituted the largest tapered roller bearing supplier to Oman, with a 84% share of total imports. Moreover, tapered roller bearing imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Ukraine (X tons), more than tenfold. The third position in this ranking was held by Indonesia (X tons), with a 3.4% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from the United Arab Emirates totaled +29.4%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+43.6% per year) and Indonesia (+68.1% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of tapered roller bearings to Oman, comprising 81% of total imports. The second position in the ranking was taken by Ukraine ($X), with a 4.1% share of total imports. It was followed by Indonesia, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United Arab Emirates totaled +24.7%. The remaining supplying countries recorded the following average annual rates of imports growth: Ukraine (+45.1% per year) and Indonesia (+33.9% per year).

Import Prices by Country

The average tapered roller bearing import price stood at $X per ton in 2021, falling by -2.7% against the previous year. In general, the import price recorded a deep setback. The most prominent rate of growth was recorded in 2014 an increase of 12% against the previous year. As a result, import price reached the peak level of $X per ton. From 2015 to 2021, the average import prices remained at a lower figure.

Average prices varied noticeably amongst the major supplying countries. In 2021, the countries with the highest prices were the United Arab Emirates ($X per ton) and Indonesia ($X per ton), while the price for Ukraine ($X per ton) and Belgium ($X per ton) were amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Ukraine (+1.0%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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