United Arab Emirates: Tools For Bearing Market 2024

Tools For Bearing Market Size in the United Arab Emirates

The tools for bearing market in the United Arab Emirates shrank to $X in 2022, dropping by -4.6% against the previous year. Over the period under review, consumption saw pronounced growth. As a result, consumption attained the peak level of $X. From 2020 to 2022, the growth of the market remained at a somewhat lower figure.

Tools For Bearing Production in the United Arab Emirates

In value terms, tools for bearing production dropped to $X in 2022 estimated in export price. Over the period under review, production enjoyed a pronounced expansion. The pace of growth appeared the most rapid in 2018 with an increase of 39% against the previous year. Tools for bearing production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Tools For Bearing Exports

Exports from the United Arab Emirates

In 2022, the amount of balls, needles and rollers for ball or roller bearings exported from the United Arab Emirates declined markedly to X tons, waning by -34.3% on the year before. In general, exports, however, showed a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 90%. Over the period under review, the exports hit record highs at X tons in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

In value terms, tools for bearing exports declined significantly to $X in 2022. Over the period under review, exports, however, posted a strong increase. The most prominent rate of growth was recorded in 2021 with an increase of 158%. As a result, the exports attained the peak of $X, and then declined dramatically in the following year.

Exports by Country

India (X tons) was the main destination for tools for bearing exports from the United Arab Emirates, accounting for a 62% share of total exports. Moreover, tools for bearing exports to India exceeded the volume sent to the second major destination, Rwanda (X tons), threefold. Mozambique (X tons) ranked third in terms of total exports with a 6.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +40.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: Rwanda (+57.1% per year) and Mozambique (+32.1% per year).

In value terms, India ($X) remains the key foreign market for balls, needles and rollers for ball or roller bearings exports from the United Arab Emirates, comprising 86% of total exports. The second position in the ranking was held by the UK ($X), with a 6% share of total exports. It was followed by Romania, with a 3.7% share.

From 2012 to 2022, the average annual rate of growth in terms of value to India amounted to +67.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: the UK (+30.4% per year) and Romania (-10.2% per year).

Export Prices by Country

In 2022, the average tools for bearing export price amounted to $X per ton, growing by 5.6% against the previous year. Over the period under review, the export price recorded a resilient increase. The growth pace was the most rapid in 2019 when the average export price increased by 67%. The export price peaked in 2022 and is expected to retain growth in the immediate term.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Romania ($X per ton), while the average price for exports to Rwanda ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to India (+19.0%), while the prices for the other major destinations experienced more modest paces of growth.

Tools For Bearing Imports

Imports into the United Arab Emirates

In 2022, the amount of balls, needles and rollers for ball or roller bearings imported into the United Arab Emirates reduced to X tons, approximately equating 2021. Overall, imports showed a perceptible slump. The pace of growth was the most pronounced in 2019 with an increase of 210%. As a result, imports attained the peak of X tons. From 2020 to 2022, the growth of imports failed to regain momentum.

In value terms, tools for bearing imports declined to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2014 with an increase of 72% against the previous year. As a result, imports attained the peak of $X. From 2015 to 2022, the growth of imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of tools for bearing to the United Arab Emirates, accounting for a 61% share of total imports. Moreover, tools for bearing imports from China exceeded the figures recorded by the second-largest supplier, India (X tons), threefold. The United States (X tons) ranked third in terms of total imports with an 11% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China stood at -2.9%. The remaining supplying countries recorded the following average annual rates of imports growth: India (-3.6% per year) and the United States (+2.6% per year).

In value terms, the largest tools for bearing suppliers to the United Arab Emirates were the United States ($X), China ($X) and India ($X), with a combined 74% share of total imports. Italy, Singapore and Canada lagged somewhat behind, together accounting for a further 5.7%.

Italy, with a CAGR of +12.0%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average tools for bearing import price amounted to $X per ton, which is down by -7.5% against the previous year. In general, the import price, however, recorded a noticeable increase. The pace of growth was the most pronounced in 2020 an increase of 106% against the previous year. Over the period under review, average import prices attained the maximum at $X per ton in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+9.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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