Saudi Arabia: Steel Spring Market 2025

Steel Spring Market Size in Saudi Arabia

In 2021, the Saudi steel spring market decreased by -21.4% to $X for the first time since 2018, thus ending a two-year rising trend. Over the period under review, consumption showed a noticeable descent. Steel spring consumption peaked at $X in 2015; however, from 2016 to 2021, consumption failed to regain momentum.

Steel Spring Exports

Exports from Saudi Arabia

In 2021, shipments abroad of steel springs and leaves for springs increased by 199% to X tons, rising for the second consecutive year after two years of decline. Over the period under review, exports, however, saw a deep setback. The most prominent rate of growth was recorded in 2016 when exports increased by 272% against the previous year. Over the period under review, the exports reached the peak figure at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, steel spring exports surged to $X in 2021. Overall, exports, however, showed a drastic downturn. The growth pace was the most rapid in 2017 with an increase of 506%. As a result, the exports attained the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons) was the main destination for steel spring exports from Saudi Arabia, with a 83% share of total exports. Moreover, steel spring exports to the United Arab Emirates exceeded the volume sent to the second major destination, Kuwait (X tons), ninefold. India (X tons) ranked third in terms of total exports with a 2.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Kuwait (+24.4% per year) and India (+32.5% per year).

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Bahrain ($X) were the largest markets for steel spring exported from Saudi Arabia worldwide, with a combined 90% share of total exports.

The United Arab Emirates, with a CAGR of +19.5%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the average steel spring export price amounted to $X per ton, remaining relatively unchanged against the previous year. Overall, the export price continues to indicate a pronounced slump. The growth pace was the most rapid in 2017 an increase of 500%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2021, the average 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 the Netherlands ($X per ton), while the average price for exports to Jordan ($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 Turkey (+44.8%), while the prices for the other major destinations experienced more modest paces of growth.

Steel Spring Imports

Imports into Saudi Arabia

In 2021, after two years of growth, there was significant decline in overseas purchases of steel springs and leaves for springs, when their volume decreased by -23.5% to X tons. Overall, imports showed a abrupt setback. The pace of growth appeared the most rapid in 2019 when imports increased by 87%. Over the period under review, imports reached the peak figure at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, steel spring imports declined sharply to $X in 2021. Over the period under review, imports continue to indicate a perceptible downturn. The growth pace was the most rapid in 2019 with an increase of 36%. Imports peaked at $X in 2014; however, from 2015 to 2021, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X tons), China (X tons) and India (X tons) were the main suppliers of steel spring imports to Saudi Arabia, together accounting for 80% of total imports. These countries were followed by Germany, Australia and Malaysia, which together accounted for a further 7.9%.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Australia (with a CAGR of +13.8%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the United Arab Emirates ($X), China ($X) and Germany ($X) constituted the largest steel spring suppliers to Saudi Arabia, with a combined 47% share of total imports. India, Australia and Malaysia lagged somewhat behind, together comprising a further 15%.

Among the main suppliers, Australia, with a CAGR of +10.6%, 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 mixed trend patterns.

Import Prices by Country

The average steel spring import price stood at $X per ton in 2021, surging by 9.2% against the previous year. Overall, import price indicated a slight expansion from 2012 to 2021: its price increased at an average annual rate of +1.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2018 an increase of 76% against the previous year. As a result, import price reached the peak level of $X per ton. From 2019 to 2021, the average import prices remained at a lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.4%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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