United Arab Emirates: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in the United Arab Emirates

In 2021, the needle roller bearing market in the United Arab Emirates decreased by -4.9% to $X, falling for the second year in a row after two years of growth. Overall, consumption enjoyed a prominent expansion. As a result, consumption attained the peak level of $X. From 2020 to 2021, the growth of the market remained at a somewhat lower figure.

Needle Roller Bearing Exports

Exports from the United Arab Emirates

In 2021, after two years of growth, there was decline in overseas shipments of needle roller bearings, when their volume decreased by -4.7% to X tons. Over the period under review, exports, however, recorded prominent growth. The growth pace was the most rapid in 2017 when exports increased by 148%. Over the period under review, the exports reached the peak figure at X tons in 2020, and then shrank modestly in the following year.

In value terms, needle roller bearing exports rose markedly to $X in 2021. In general, exports, however, enjoyed a strong expansion. The pace of growth was the most pronounced in 2017 when exports increased by 183% against the previous year. Over the period under review, the exports attained the peak figure in 2021 and are expected to retain growth in the near future.

Exports by Country

Oman (X tons) was the main destination for needle roller bearing exports from the United Arab Emirates, with a 76% share of total exports. Moreover, needle roller bearing exports to Oman exceeded the volume sent to the second major destination, Uganda (X tons), tenfold. Guatemala (X tons) ranked third in terms of total exports with a 4.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman totaled +9.2%. Exports to the other major destinations recorded the following average annual rates of exports growth: Uganda (+22.2% per year) and Guatemala (+89.4% per year).

In value terms, Oman ($X) remains the key foreign market for needle roller bearing exports from the United Arab Emirates, comprising 69% of total exports. The second position in the ranking was held by Germany ($X), with an 8.1% share of total exports. It was followed by India, with a 6% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Oman amounted to +7.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Germany (+39.7% per year) and India (-4.7% per year).

Export Prices by Country

In 2021, the average needle roller bearing export price amounted to $X per ton, picking up by 16% against the previous year. Over the period under review, the export price, however, continues to indicate a pronounced setback. The most prominent rate of growth was recorded in 2013 when the average export price increased by 40% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

Prices varied noticeably country of destination: the country with the highest price was Germany ($X per ton), while the average price for exports to Uganda ($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 Germany (+4.8%), while the prices for the other major destinations experienced mixed trend patterns.

Needle Roller Bearing Imports

Imports into the United Arab Emirates

In 2021, the amount of needle roller bearings imported into the United Arab Emirates stood at X tons, picking up by 14% compared with 2020. In general, imports saw strong growth. The pace of growth appeared the most rapid in 2019 when imports increased by 101%. As a result, imports attained the peak of X tons. From 2020 to 2021, the growth of imports remained at a somewhat lower figure.

In value terms, needle roller bearing imports reduced notably to $X in 2021. Overall, total imports indicated a noticeable increase from 2012 to 2021: its value increased at an average annual rate of +4.8% 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 2019 with an increase of 59% against the previous year. Imports peaked at $X in 2020, and then plummeted in the following year.

Imports by Country

China (X tons), South Korea (X tons) and Japan (X tons) were the main suppliers of needle roller bearing imports to the United Arab Emirates, together comprising 79% of total imports. Germany, India, the United States and Hong Kong SAR lagged somewhat behind, together comprising a further 13%.

From 2012 to 2021, the biggest increases were in the United States (with a CAGR of +33.3%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest needle roller bearing suppliers to the United Arab Emirates were China ($X), South Korea ($X) and Japan ($X), with a combined 53% share of total imports. Germany, India, the United States and Hong Kong SAR lagged somewhat behind, together accounting for a further 29%.

The United States, with a CAGR of +27.0%, saw the highest growth rate of 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 2021, the average needle roller bearing import price amounted to $X per ton, falling by -28% against the previous year. Overall, the import price recorded a abrupt slump. The pace of growth was the most pronounced in 2020 when the average import price increased by 42%. The import price peaked at $X per ton in 2013; however, from 2014 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably country of origin: 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 Germany (+0.9%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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