Kuwait: Spherical Roller Bearing Market 2024

Spherical Roller Bearing Market Size in Kuwait

The Kuwaiti spherical roller bearing market surged to $X in 2023, rising by X% 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 modest increase from 2012 to 2023: its value increased at an average annual rate of X% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by X% against 2021 indices. As a result, consumption reached the peak level of $X. From 2019 to 2023, the growth of the market remained at a lower figure.

Spherical Roller Bearing Exports

Exports from Kuwait

In 2023, after three years of growth, there was significant decline in shipments abroad of spherical roller bearings, when their volume decreased by X% to X kg. In general, exports, however, continue to indicate a significant increase. The growth pace was the most rapid in 2022 when exports increased by X%. Over the period under review, the exports attained the peak figure at X tons in 2015; however, from 2016 to 2023, the exports failed to regain momentum.

In value terms, spherical roller bearing exports plummeted to $X in 2023. Overall, exports, however, posted significant growth. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. The Kuwait exports peaked at $X in 2015; however, from 2016 to 2023, the exports stood at a somewhat lower figure.

Exports by Country

In 2023, China (X tons) represented the key exporter of spherical roller bearings, committing X% of total exports. Sweden (X tons) took an X% share (based on physical terms) of total exports, which put it in second place, followed by Germany (X%), Japan (X%) and Romania (X%). Belgium (X tons), Malaysia (X tons), France (X tons), Thailand (X tons), Singapore (X tons), the UK (X tons), Italy (X tons) and the United States (X tons) took a little share of total exports.

From 2012 to 2023, average annual rates of growth with regard to spherical roller bearing exports from China stood at X%. At the same time, Thailand (X%), Malaysia (X%), Romania (X%) and France (X%) displayed positive paces of growth. Moreover, Thailand emerged as the fastest-growing exporter exported in the world, with a CAGR of X% from 2012-2023. Italy experienced a relatively flat trend pattern. By contrast, Germany (X%), Japan (X%), Sweden (X%), Belgium (X%), the UK (X%), Singapore (X%) and the United States (X%) illustrated a downward trend over the same period. China (X p.p.), Romania (X p.p.) and Thailand (X p.p.) significantly strengthened its position in terms of the global exports, while the UK, Japan, Germany, Belgium, the United States, Singapore and Sweden saw its share reduced by X%, X%, X%, X%, X%, X% and X% from 2012 to 2023, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Sweden ($X), Germany ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2023, together accounting for X% of total exports. Japan, Belgium, the United States, Romania, France, the UK, Malaysia, Italy, Singapore and Thailand lagged somewhat behind, together comprising a further X%.

Among the main exporting countries, Thailand, with a CAGR of X%, 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 2023, the export price in Kuwait amounted to $X per ton, rising by X% against the previous year. Overall, the export price recorded slight growth. The most prominent rate of growth was recorded in 2019 when the export price increased by X% against the previous year. As a result, the export price attained the peak level of $X per ton. From 2020 to 2023, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United States ($X per ton), while China ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other leaders experienced more modest paces of growth.

Spherical Roller Bearing Imports

Imports into Kuwait

In 2023, imports of spherical roller bearings into Kuwait surged to X tons, jumping by X% on 2022 figures. Overall, total imports indicated a tangible expansion from 2012 to 2023: its volume increased at an average annual rate of X% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, imports decreased by X% against 2021 indices. The pace of growth was the most pronounced in 2018 with an increase of X%. Over the period under review, imports attained the peak figure at X tons in 2021; however, from 2022 to 2023, imports remained at a lower figure.

In value terms, spherical roller bearing imports surged to $X in 2023. Over the period under review, imports, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when imports increased by X%. As a result, imports reached the peak of $X. From 2019 to 2023, the growth of imports remained at a lower figure.

Imports by Country

The countries with the highest levels of spherical roller bearing imports in 2023 were China (X tons), Belgium (X tons), India (X tons), Germany (X tons), the United States (X tons), South Korea (X tons), France (X tons), Brazil (X tons), Turkey (X tons), Russia (X tons), Italy (X tons) and Thailand (X tons), together recording X% of total import. Canada (X tons) took a minor share of total imports.

From 2012 to 2023, the biggest increases were recorded for India (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Belgium ($X), the United States ($X) and China ($X) were the countries with the highest levels of imports in 2023, with a combined X% share of total imports. India, Germany, France, Italy, South Korea, Turkey, Brazil, Canada, Russia and Thailand lagged somewhat behind, together comprising a further X%.

India, with a CAGR of X%, recorded the highest growth rate of the value of imports, in terms of the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in Kuwait stood at $X per ton in 2023, with an increase of X% against the previous year. Overall, the import price, however, recorded a noticeable decline. The pace of growth was the most pronounced in 2022 when the import price increased by X%. Over the period under review, import prices reached the maximum at $X per ton in 2012; however, from 2013 to 2023, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United States ($X per ton), while Thailand ($X per ton) was amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform