United Arab Emirates: Ball Bearing Market 2024

Ball Bearing Market Size in the United Arab Emirates

The ball bearing market in the United Arab Emirates surged to $X in 2021, growing by 25% 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). In general, consumption enjoyed a moderate expansion. Over the period under review, the market attained the peak level in 2021 and is likely to see gradual growth in years to come.

Ball Bearing Exports

Exports from the United Arab Emirates

In 2021, overseas shipments of ball bearings decreased by -7.7% to X tons, falling for the third consecutive year after two years of growth. Over the period under review, exports showed a noticeable curtailment. The growth pace was the most rapid in 2015 when exports increased by 69%. The exports peaked at X tons in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

In value terms, ball bearing exports reached $X in 2021. Overall, exports recorded a mild curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 54%. Over the period under review, the exports attained the maximum at $X in 2018; however, from 2019 to 2021, the exports remained at a lower figure.

Exports by Country

Oman (X tons) was the main destination for ball bearing exports from the United Arab Emirates, with a 34% share of total exports. Moreover, ball bearing exports to Oman exceeded the volume sent to the second major destination, Nigeria (X tons), twofold. India (X tons) ranked third in terms of total exports with a 9.8% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman stood at +12.9%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (+31.7% per year) and India (+10.3% per year).

In value terms, Oman ($X) remains the key foreign market for ball bearings exports from the United Arab Emirates, comprising 46% of total exports. The second position in the ranking was taken by India ($X), with an 18% share of total exports. It was followed by Guatemala, with a 4.1% share.

From 2012 to 2021, the average annual growth rate of value to Oman amounted to +13.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+12.0% per year) and Guatemala (+86.5% per year).

Export Prices by Country

The average ball bearing export price stood at $X per ton in 2021, jumping by 21% against the previous year. Over the period under review, export price indicated a notable increase from 2012 to 2021: its price increased at an average annual rate of +3.0% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, ball bearing export price increased by +82.6% against 2018 indices. The pace of growth appeared the most rapid in 2019 when the average export price increased by 37% against the previous year. The export price peaked in 2021 and is likely to see gradual growth in years to come.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was India ($X per ton), while the average price for exports to Zimbabwe ($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 Rwanda (+9.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Imports

Imports into the United Arab Emirates

In 2021, purchases abroad of ball bearings increased by 17% to X tons, rising for the fourth year in a row after three years of decline. In general, total imports indicated noticeable growth from 2012 to 2021: its volume increased at an average annual rate of +4.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, imports increased by +89.6% against 2017 indices. The most prominent rate of growth was recorded in 2019 when imports increased by 46%. Imports peaked in 2021 and are likely to continue growth in the immediate term.

In value terms, ball bearing imports surged to $X in 2021. Over the period under review, imports, however, continue to indicate a mild curtailment. Over the period under review, imports hit record highs at $X in 2014; however, from 2015 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ball bearing to the United Arab Emirates, accounting for a 53% share of total imports. Moreover, ball bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. The Netherlands (X tons) ranked third in terms of total imports with a 3.7% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from China amounted to +14.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-1.4% per year) and the Netherlands (+43.5% per year).

In value terms, China ($X), Japan ($X) and the Netherlands ($X) were the largest ball bearing suppliers to the United Arab Emirates, together comprising 62% of total imports.

Among the main suppliers, the Netherlands, with a CAGR of +38.9%, 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 ball bearing import price stood at $X per ton in 2021, increasing by 12% against the previous year. Overall, the import price, however, showed a deep downturn. The pace of growth was the most pronounced in 2017 an increase of 18% against the previous year. The import price peaked at $X per ton in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was the UK ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the UK (+19.3%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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