Saudi Arabia: Roller Bearing Market 2024

Roller Bearing Market Size in Saudi Arabia

In 2022, the Saudi roller bearing market was finally on the rise to reach $X after three years of decline. Over the period under review, consumption, however, continues to indicate a pronounced setback. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Roller Bearing Exports

Exports from Saudi Arabia

After two years of decline, overseas shipments of roller bearings decreased by -79.1% to X tons in 2021. Overall, exports recorded a deep reduction. The growth pace was the most rapid in 2018 when exports increased by 255% against the previous year. Over the period under review, the exports reached the maximum at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, roller bearing exports shrank sharply to $X in 2021. Over the period under review, exports recorded a abrupt setback. The growth pace was the most rapid in 2018 when exports increased by 105% against the previous year. As a result, the exports attained the peak of $X. From 2019 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

China was the main exporter of roller bearings in the world, with the volume of exports resulting at X tons, which was near 31% of total exports in 2021. France (X tons) held the second position in the ranking, followed by Singapore (X tons), Germany (X tons), Slovakia (X tons) and Italy (X tons). All these countries together took approx. 41% share of total exports. South Korea (X tons), Indonesia (X tons), Poland (X tons), Taiwan (Chinese) (X tons), Hong Kong SAR (X tons), Japan (X tons) and the United Arab Emirates (X tons) followed a long way behind the leaders.

Exports from China increased at an average annual rate of +18.7% from 2012 to 2021. At the same time, Indonesia (+37.0%), Poland (+5.2%), Japan (+4.6%), Slovakia (+2.5%), France (+1.5%) and the United Arab Emirates (+1.1%) displayed positive paces of growth. Moreover, Indonesia emerged as the fastest-growing exporter exported in the world, with a CAGR of +37.0% from 2012-2021. Taiwan (Chinese) experienced a relatively flat trend pattern. By contrast, Singapore (-1.4%), Italy (-1.8%), Germany (-2.4%), South Korea (-10.5%) and Hong Kong SAR (-15.8%) illustrated a downward trend over the same period. From 2012 to 2021, the share of China, Indonesia, France and Slovakia increased by +25, +2.1, +1.9 and +1.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest roller bearing supplying countries from Saudi Arabia were China ($X), Singapore ($X) and Germany ($X), with a combined 43% share of total exports. Italy, France, Hong Kong SAR, Slovakia, Japan, South Korea, Taiwan (Chinese), Poland, the United Arab Emirates and Indonesia lagged somewhat behind, together comprising a further 31%.

Indonesia, with a CAGR of +6.6%, recorded the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Saudi Arabia amounted to $X per ton, growing by 62% against the previous year. In general, the export price, however, showed a relatively flat trend pattern. The Saudi Arabia export price peaked at $X per ton in 2017; however, from 2018 to 2021, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Hong Kong SAR ($X per ton), while Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Hong Kong SAR (+4.1%), while the other leaders experienced more modest paces of growth.

Roller Bearing Imports

Imports into Saudi Arabia

After two years of decline, purchases abroad of roller bearings increased by 12% to X tons in 2022. Over the period under review, imports, however, saw a pronounced decline. The most prominent rate of growth was recorded in 2015 when imports increased by 13% against the previous year. As a result, imports reached the peak of X tons. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, roller bearing imports dropped slightly to $X in 2022. Overall, imports, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2013 when imports increased by 15%. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, Thailand (X tons) and Indonesia (X tons) represented the major importers of roller bearingsin the world, together accounting for approx. 32% of total imports. It was distantly followed by Germany (X tons), creating a 6.2% share of total imports. India (X tons), Italy (X tons), Canada (X tons), Malaysia (X tons), Spain (X tons), South Korea (X tons), France (X tons), Singapore (X tons), Poland (X tons) and Austria (X tons) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of +18.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest roller bearing importing markets into Saudi Arabia were Indonesia ($X), Germany ($X) and India ($X), with a combined 24% share of total imports.

Among the main importing countries, Indonesia, with a CAGR of +4.2%, recorded 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

In 2022, the import price in Saudi Arabia amounted to $X per ton, reducing by -11.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.4%. The pace of growth was the most pronounced in 2017 an increase of 31% against the previous year. Saudi Arabia import price peaked at $X per ton in 2018; however, from 2019 to 2022, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Canada ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+6.9%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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