Middle East: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in the Middle East

The Middle Eastern tapered roller bearing market rose significantly to $X in 2023, picking up by X% against the previous year. The market value increased at an average annual rate of X% over the period from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the market hit record highs at $X in 2017; however, from 2018 to 2023, consumption failed to regain momentum.

Tapered Roller Bearing Production in the Middle East

In value terms, tapered roller bearing production totaled $X in 2023 estimated in export price. The total production indicated a perceptible 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, production decreased by X% against 2021 indices. The growth pace was the most rapid in 2021 with an increase of X% against the previous year. As a result, production attained the peak level of $X. From 2022 to 2023, production growth failed to regain momentum.

Tapered Roller Bearing Exports

Exports in the Middle East

In 2023, approx. X tons of tapered roller bearings were exported in the Middle East; with an increase of X% compared with the previous year. Overall, exports recorded prominent growth. The most prominent rate of growth was recorded in 2020 when exports increased by X%. Over the period under review, the exports attained the peak figure in 2023 and are expected to retain growth in years to come.

In value terms, tapered roller bearing exports soared to $X in 2023. In general, exports saw buoyant growth. The most prominent rate of growth was recorded in 2020 when exports increased by X% against the previous year. The level of export peaked in 2023 and is likely to see steady growth in the immediate term.

Exports by Country

In 2023, Turkey (X tons) represented the main exporter of tapered roller bearings, mixing up X% of total exports. It was distantly followed by the United Arab Emirates (X tons), creating a X% share of total exports. Oman (X tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of X% from 2012 to 2023. At the same time, Oman (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of X% from 2012-2023. From 2012 to 2023, the share of Turkey and Oman increased by X and X percentage points, respectively.

In value terms, Turkey ($X) remains the largest tapered roller bearing supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, tapered roller bearing exports expanded at an average annual rate of X% over the period from 2012-2023. In the other countries, the average annual rates were as follows: the United Arab Emirates (X% per year) and Oman (X% per year).

Export Prices by Country

In 2023, the export price in the Middle East amounted to $X per ton, growing by X% against the previous year. Over the last eleven-year period, it increased at an average annual rate of X%. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. The level of export peaked in 2023 and is expected to retain growth in the near future.

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

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the export price figures.

Tapered Roller Bearing Imports

Imports in the Middle East

In 2023, after three years of growth, there was significant decline in overseas purchases of tapered roller bearings, when their volume decreased by X% to X tons. Over the period under review, imports, however, saw a tangible expansion. The pace of growth appeared the most rapid in 2022 with an increase of X% against the previous year. As a result, imports attained the peak of X tons, and then shrank in the following year.

In value terms, tapered roller bearing imports shrank slightly to $X in 2023. The total import value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2022 when imports increased by X%. As a result, imports attained the peak of $X, leveling off in the following year.

Imports by Country

Turkey (X tons) and the United Arab Emirates (X tons) dominates imports structure, together constituting X% of total imports. It was distantly followed by Iran (X tons), comprising an X% share of total imports. The following importers - Iraq (X tons) and Saudi Arabia (X tons) - each accounted for a X% share of total imports.

From 2012 to 2023, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Turkey (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest tapered roller bearing importing markets in the Middle East were Turkey ($X), the United Arab Emirates ($X) and Iran ($X), together comprising X% of total imports.

Turkey, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

The import price in the Middle East stood at $X per ton in 2023, surging by X% against the previous year. Over the period under review, the import price, however, showed a perceptible contraction. The most prominent rate of growth was recorded in 2013 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per ton. From 2014 to 2023, the import prices failed to regain momentum.

Average prices varied somewhat amongst the major importing countries. In 2023, major importing countries recorded the following prices: in Saudi Arabia ($X per ton) and Turkey ($X per ton), while Iran ($X per ton) and the United Arab Emirates ($X per ton) were amongst the lowest.

From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Turkey (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform