United Arab Emirates: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in the United Arab Emirates

The tapered roller bearing market in the United Arab Emirates skyrocketed to $X in 2021, surging by 32% 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, the total consumption indicated a mild increase from 2012 to 2021: its value increased at an average annual rate of +1.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, consumption increased by +86.2% against 2018 indices. Over the period under review, the market reached the maximum level at $X in 2016; however, from 2017 to 2021, consumption stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports from the United Arab Emirates

In 2021, tapered roller bearing exports from the United Arab Emirates dropped markedly to X tons, reducing by -16.4% against the previous year. Overall, exports saw a deep slump. The most prominent rate of growth was recorded in 2020 with an increase of 105% against the previous year. Over the period under review, the exports attained the peak figure at X tons in 2012; however, from 2013 to 2021, the exports failed to regain momentum.

In value terms, tapered roller bearing exports rose slightly to $X in 2021. Over the period under review, exports, however, showed a prominent increase. The growth pace was the most rapid in 2017 with an increase of 204% against the previous year. The exports peaked in 2021 and are likely to see gradual growth in the immediate term.

Exports by Country

Oman (X tons) was the main destination for tapered roller bearing exports from the United Arab Emirates, accounting for a 70% share of total exports. Moreover, tapered roller bearing exports to Oman exceeded the volume sent to the second major destination, India (X tons), sixfold. Angola (X tons) ranked third in terms of total exports with a 2.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Oman totaled +8.5%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (-5.6% per year) and Angola (-3.0% per year).

In value terms, Oman ($X) remains the key foreign market for tapered roller bearings exports from the United Arab Emirates, comprising 74% of total exports. The second position in the ranking was held by India ($X), with a 12% share of total exports. It was followed by Germany, with a 1.8% share.

From 2012 to 2021, the average annual growth rate of value to Oman totaled +23.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+8.0% per year) and Germany (+20.9% per year).

Export Prices by Country

The average tapered roller bearing export price stood at $X per ton in 2021, jumping by 23% against the previous year. Overall, the export price saw a buoyant increase. The pace of growth was the most pronounced in 2017 an increase of 54%. Over the period under review, the average export prices hit record highs at $X per ton in 2019; however, from 2020 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major export markets. In 2021, the country with the highest price was Germany ($X per ton), while the average price for exports to Angola ($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 Guatemala (+30.6%), while the prices for the other major destinations experienced more modest paces of growth.

Tapered Roller Bearing Imports

Imports into the United Arab Emirates

In 2021, the amount of tapered roller bearings imported into the United Arab Emirates soared to X tons, jumping by 30% against the previous year. Overall, imports continue to indicate pronounced growth. The most prominent rate of growth was recorded in 2019 with an increase of 116%. Over the period under review, imports reached the peak figure in 2021 and are likely to see steady growth in the near future.

In value terms, tapered roller bearing imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a pronounced reduction. The most prominent rate of growth was recorded in 2016 with an increase of 34%. Over the period under review, imports reached the maximum at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, China (X tons) constituted the largest supplier of tapered roller bearing to the United Arab Emirates, accounting for a 58% share of total imports. Moreover, tapered roller bearing imports from China exceeded the figures recorded by the second-largest supplier, Japan (X tons), threefold. India (X tons) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2021, the average annual growth rate of volume from China stood at +15.1%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (-5.1% per year) and India (+13.2% per year).

In value terms, the largest tapered roller bearing suppliers to the United Arab Emirates were China ($X), Japan ($X) and India ($X), together accounting for 75% of total imports. These countries were followed by Germany, Singapore, the United States, France, Spain, South Korea and the UK, which together accounted for a further 20%.

The United States, with a CAGR of +12.6%, 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 2021, the average tapered roller bearing import price amounted to $X per ton, dropping by -2.6% against the previous year. In general, the import price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2013 an increase of 8%. Over the period under review, average import prices hit record highs at $X per ton in 2014; however, from 2015 to 2021, import prices stood at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by France (+6.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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