Saudi Arabia: Flywheels And Pulleys Market 2024

Flywheels And Pulleys Market Size in Saudi Arabia

In 2021, the Saudi flywheels and pulleys market decreased by -28.4% to $X, falling for the second year in a row after two years of growth. Over the period under review, consumption showed a abrupt slump. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a somewhat lower figure.

Flywheels And Pulleys Exports

Exports from Saudi Arabia

In 2021, overseas shipments of flywheels and pulleys decreased by -43.5% to X tons, falling for the second consecutive year after two years of growth. Overall, exports faced a abrupt shrinkage. The pace of growth appeared the most rapid in 2016 when exports increased by 988% against the previous year. As a result, the exports attained the peak of X tons. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, flywheels and pulleys exports contracted significantly to $X in 2021. In general, exports continue to indicate a drastic downturn. The pace of growth appeared the most rapid in 2016 when exports increased by 585% against the previous year. As a result, the exports attained the peak of $X. From 2017 to 2021, the growth of the exports remained at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for flywheels and pulleys exports from Saudi Arabia, with a 99% share of total exports. It was followed by Oman (X kg), with a 0.2% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at -15.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-89.8% per year) and Belgium (-57.9% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for flywheels and pulleys exports from Saudi Arabia, comprising 96% of total exports. The second position in the ranking was taken by Oman ($X), with a 0.5% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of value to the United Arab Emirates totaled -8.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (-86.4% per year) and Belgium (-37.5% per year).

Export Prices by Country

The average flywheels and pulleys export price stood at $X per ton in 2021, rising by 10% against the previous year. Over the period under review, the export price continues to indicate a strong increase. The most prominent rate of growth was recorded in 2018 an increase of 115% against the previous year. The export price peaked at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Belgium ($X per ton), while the average price for exports to the United Arab Emirates ($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 Belgium (+51.7%), while the prices for the other major destinations experienced more modest paces of growth.

Flywheels And Pulleys Imports

Imports into Saudi Arabia

In 2021, the amount of flywheels and pulleys imported into Saudi Arabia reduced markedly to X tons, waning by -37.5% on the year before. Overall, imports saw a abrupt curtailment. The most prominent rate of growth was recorded in 2013 with an increase of 47%. Over the period under review, imports reached the maximum at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, flywheels and pulleys imports declined notably to $X in 2021. Over the period under review, imports continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 37%. As a result, imports attained the peak of $X. From 2014 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest flywheels and pulleys supplier to Saudi Arabia, accounting for a 37% share of total imports. Moreover, flywheels and pulleys imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), twofold. Germany (X tons) ranked third in terms of total imports with a 14% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China stood at -10.2%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.8% per year) and Germany (-5.9% per year).

In value terms, Germany ($X), the United States ($X) and China ($X) were the largest flywheels and pulleys suppliers to Saudi Arabia, together comprising 49% of total imports. Italy, Mexico, South Africa, India, South Korea, the United Arab Emirates and Japan lagged somewhat behind, together accounting for a further 31%.

Among the main suppliers, Mexico, with a CAGR of +14.4%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

The average flywheels and pulleys import price stood at $X per ton in 2021, growing by 30% against the previous year. In general, the import price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 when the average import price increased by 34% against the previous year. Over the period under review, average import prices reached the peak figure in 2021 and is expected to retain growth in the near future.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Italy (+11.9%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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