United Arab Emirates: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in the United Arab Emirates

The ball bearing parts market in the United Arab Emirates skyrocketed to $X in 2021, rising by 45% 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). Overall, consumption recorded a prominent expansion. Over the period under review, the market reached the peak level at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Ball Bearing Parts Exports

Exports from the United Arab Emirates

In 2021, shipments abroad of parts of ball or roller bearings increased by 101% to X tons, rising for the second year in a row after two years of decline. Over the period under review, exports showed prominent growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing parts exports soared to $X in 2021. In general, exports enjoyed a measured expansion. The exports peaked at $X in 2016; however, from 2017 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Oman (X tons) was the main destination for ball bearing parts exports from the United Arab Emirates, with a 55% share of total exports. Moreover, ball bearing parts exports to Oman exceeded the volume sent to the second major destination, India (X tons), fourfold. Senegal (X tons) ranked third in terms of total exports with a 3.5% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman totaled +26.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+19.5% per year) and Senegal (+36.0% per year).

In value terms, the largest markets for ball bearing parts exported from the United Arab Emirates were India ($X), Oman ($X) and Germany ($X), with a combined 75% share of total exports.

In terms of the main countries of destination, Germany, with a CAGR of +45.3%, recorded the highest rates of growth with regard to the value of exports, 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 ball bearing parts export price amounted to $X per ton, which is down by -26.5% against the previous year. Overall, the export price recorded a noticeable decrease. The growth pace was the most rapid in 2018 when the average export price increased by 39% against the previous year. The export price peaked at $X per ton in 2015; however, from 2016 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was India ($X per ton), while the average price for exports to Senegal ($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 Zambia (+22.2%), while the prices for the other major destinations experienced more modest paces of growth.

Ball Bearing Parts Imports

Imports into the United Arab Emirates

In 2021, the amount of parts of ball or roller bearings imported into the United Arab Emirates soared to X tons, with an increase of 71% on the year before. In general, imports recorded a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing parts imports skyrocketed to $X in 2021. Overall, imports continue to indicate a remarkable increase. The growth pace was the most rapid in 2015 when imports increased by 59%. As a result, imports attained the peak of $X. From 2016 to 2021, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of ball bearing parts to the United Arab Emirates, accounting for a 65% share of total imports. Moreover, ball bearing parts imports from China exceeded the figures recorded by the second-largest supplier, the United States (X tons), tenfold. The third position in this ranking was taken by India (X tons), with a 6.2% share.

From 2012 to 2021, the average annual growth rate of volume from China totaled +13.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+0.6% per year) and India (-8.2% per year).

In value terms, China ($X) constituted the largest supplier of parts of ball or roller bearings to the United Arab Emirates, comprising 22% of total imports. The second position in the ranking was taken by the United States ($X), with a 9.4% share of total imports. It was followed by Germany, with an 8.2% share.

From 2012 to 2021, the average annual growth rate of value from China stood at +5.5%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (-3.7% per year) and Germany (+8.0% per year).

Import Prices by Country

In 2021, the average ball bearing parts import price amounted to $X per ton, declining by -11.2% against the previous year. In general, the import price saw a mild contraction. The pace of growth was the most pronounced in 2014 an increase of 53%. The import price peaked at $X per ton in 2015; however, from 2016 to 2021, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major supplying countries. In 2021, 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 (+3.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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