Saudi Arabia: 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 Saudi Arabia

The Saudi market for bearing housings not incorporating ball or roller bearings, plain shaft bearings was estimated at $X in 2021, surging by 12% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption, however, continues to indicate a noticeable contraction. Bearing housing without ball bearing consumption peaked at $X in 2012; however, from 2013 to 2021, consumption remained at a lower figure.

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

Exports from Saudi Arabia

In 2021, bearing housing without ball bearing exports from Saudi Arabia skyrocketed to X tons, with an increase of 127% against the previous year's figure. Over the period under review, exports enjoyed prominent growth. The most prominent rate of growth was recorded in 2017 when exports increased by 279%. As a result, the exports attained the peak of X tons. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, bearing housing without ball bearing exports surged to $X in 2021. In general, exports enjoyed a prominent expansion. The pace of growth was the most pronounced in 2017 with an increase of 258% against the previous year. The exports peaked in 2021 and are likely to see steady growth in the near future.

Exports by Country

The United Arab Emirates (X tons) was the main destination for bearing housing without ball bearing exports from Saudi Arabia, accounting for a 35% share of total exports. Moreover, bearing housing without ball bearing exports to the United Arab Emirates exceeded the volume sent to the second major destination, Bahrain (X tons), fourfold. The third position in this ranking was held by Hungary (X tons), with an 8.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +117.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bahrain (+50.0% per year) and Hungary (0.0% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for bearing housings not incorporating ball or roller bearings, plain shaft bearings exports from Saudi Arabia, comprising 28% of total exports. The second position in the ranking was held by Germany ($X), with a 6.5% share of total exports. It was followed by Hungary, with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled +124.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+29.5% per year) and Hungary (0.0% 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, therefore, remained relatively stable against the previous year. In general, export price indicated temperate growth from 2012 to 2021: its price increased at an average annual rate of +2.6% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bearing housing without ball bearing export price increased by +7.7% against 2019 indices. The growth pace was the most rapid in 2015 an increase of 57%. Over the period under review, the average export prices attained the peak figure at $X per ton in 2018; however, from 2019 to 2021, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Kuwait ($X per ton), while the average price for exports to Spain ($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 Germany (+25.2%), 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 Saudi Arabia

Bearing housing without ball bearing imports into Saudi Arabia expanded remarkably to X tons in 2021, picking up by 10% against the year before. Overall, imports, however, saw a deep contraction. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports remained at a lower figure.

In value terms, bearing housing without ball bearing imports rose rapidly to $X in 2021. Over the period under review, imports, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2014 with an increase of 21%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Poland (X tons), the United States (X tons) and Germany (X tons) were the main suppliers of bearing housing without ball bearing imports to Saudi Arabia, together accounting for 44% of total imports. Japan, China, France, India, Austria, South Africa, Sweden and the UK lagged somewhat behind, together comprising a further 33%.

From 2012 to 2021, the biggest increases were recorded for France (with a CAGR of +29.9%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), the United States ($X) and Poland ($X) appeared to be the largest bearing housing without ball bearing suppliers to Saudi Arabia, together accounting for 57% of total imports. Japan, China, the UK, India, France, Austria, Sweden and South Africa lagged somewhat behind, together comprising a further 24%.

In terms of the main suppliers, India, with a CAGR of +8.9%, 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 average import price for bearing housings not incorporating ball or roller bearings, plain shaft bearings stood at $X per ton in 2021, with an increase of 3.6% against the previous year. Over the period under review, import price indicated a remarkable increase from 2012 to 2021: its price increased at an average annual rate of +7.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, bearing housing without ball bearing import price decreased by -8.3% against 2019 indices. The most prominent rate of growth was recorded in 2018 when the average import price increased by 21% against the previous year. The import price peaked at $X per ton in 2019; however, from 2020 to 2021, import prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+26.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :