GCC: Market for Bearing Housings Incorporating Ball Or Roller Bearings 2024

Market Size for Bearing Housings Incorporating Ball Or Roller Bearings in GCC

In 2022, the GCC market for bearing housings incorporating ball or roller bearings increased by X% to $X, rising for the second year in a row after two years of decline. Over the period under review, consumption saw a relatively flat trend pattern. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption failed to regain momentum.

Production of Bearing Housings Incorporating Ball Or Roller Bearings in GCC

In value terms, bearing housing with ball bearing production amounted to $X in 2022 estimated in export price. Over the period under review, production enjoyed a significant increase. The growth pace was the most rapid in 2013 with an increase of X% against the previous year. The level of production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Exports of Bearing Housings Incorporating Ball Or Roller Bearings

Exports in GCC

In 2022, the amount of bearing housings incorporating ball or roller bearings exported in GCC soared to X tons, picking up by X% compared with 2021. In general, exports recorded significant growth. The growth pace was the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2016; however, from 2017 to 2022, the exports stood at a somewhat lower figure.

In value terms, bearing housing with ball bearing exports soared to $X in 2022. Over the period under review, exports posted significant growth. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. The level of export peaked at $X in 2016; however, from 2017 to 2022, the exports remained at a lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X tons), together amounting to X% of total export.

The United Arab Emirates was also the fastest-growing in terms of the bearing housings incorporating ball or roller bearings exports, with a CAGR of X% from 2012 to 2022. While the share of the United Arab Emirates (X p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) also remains the largest bearing housing with ball bearing supplier in GCC.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at X%.

Export Prices by Country

The export price in GCC stood at $X per ton in 2022, picking up by X% against the previous year. Overall, the export price, however, showed a pronounced reduction. The pace of growth was the most pronounced in 2018 an increase of X%. The level of export peaked at $X per ton in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

As there is only one major export destination, the average price level is determined by prices for the United Arab Emirates.

From 2012 to 2022, the rate of growth in terms of prices for the United Arab Emirates amounted to X% per year.

Imports of Bearing Housings Incorporating Ball Or Roller Bearings

Imports in GCC

In 2022, bearing housing with ball bearing imports in GCC skyrocketed to X tons, rising by X% against the year before. In general, imports showed a perceptible increase. Over the period under review, imports reached the peak figure at X tons in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, bearing housing with ball bearing imports soared to $X in 2022. Overall, imports, however, continue to indicate a noticeable curtailment. The pace of growth was the most pronounced in 2019 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X tons) was the main importer of bearing housings incorporating ball or roller bearings, achieving X% of total imports. It was distantly followed by Saudi Arabia (X tons), achieving a X% share of total imports. Oman (X tons) and Kuwait (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) and Oman (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. The United Arab Emirates (X p.p.) and Kuwait (X p.p.) significantly strengthened its position in terms of the total imports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest bearing housing with ball bearing importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Oman ($X), together accounting for X% of total imports.

Among the main importing countries, Oman, with a CAGR of X%, saw the highest growth rate of the value of imports, 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 GCC stood at $X per ton in 2022, falling by X% against the previous year. Overall, the import price showed a deep setback. The pace of growth appeared the most rapid in 2017 when the import price increased by X%. The level of import peaked at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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