GCC: Ball Bearing Parts Market 2024

Ball Bearing Parts Market Size in GCC

The GCC ball bearing parts market declined significantly to $X in 2022, reducing by X% against the previous year. Over the period under review, consumption continues to indicate a deep contraction. The level of consumption peaked at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Ball Bearing Parts Production in GCC

In value terms, ball bearing parts production totaled $X in 2022 estimated in export price. In general, production saw a pronounced downturn. The growth pace was the most rapid in 2015 with an increase of X%. As a result, production attained the peak level of $X. From 2016 to 2022, production growth failed to regain momentum.

Ball Bearing Parts Exports

Exports in GCC

Ball bearing parts exports soared to X tons in 2022, surging by X% on the previous year. Over the period under review, exports recorded a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, ball bearing parts exports skyrocketed to $X in 2022. In general, exports posted strong growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates prevails in exports structure, finishing at X tons, which was near X% of total exports in 2022. Kuwait (X tons) followed a long way behind the leaders.

Exports from the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Kuwait (X%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. From 2012 to 2022, the share of Kuwait increased by X percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest ball bearing parts supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Kuwait ($X), with a X% share of total exports.

In the United Arab Emirates, ball bearing parts exports expanded at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, rising by X% against the previous year. Export price indicated a notable increase from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, ball bearing parts export price increased by X% against 2020 indices. The growth pace was the most rapid in 2021 an increase of X%. Over the period under review, the export prices reached the maximum at $X per ton in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Kuwait amounted to $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (X%).

Ball Bearing Parts Imports

Imports in GCC

Ball bearing parts imports surged to X tons in 2022, picking up by X% compared with the previous year's figure. Overall, imports showed mild growth. The growth pace was the most rapid in 2013 when imports increased by X% against the previous year. As a result, imports attained the peak of X tons. From 2014 to 2022, the growth of imports failed to regain momentum.

In value terms, ball bearing parts imports soared to $X in 2022. In general, imports, however, recorded a relatively flat trend pattern. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the main importer of parts of ball or roller bearings in GCC, with the volume of imports finishing at X tons, which was approx. X% of total imports in 2022. Saudi Arabia (X tons) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Kuwait (X%). The following importers - Oman (X tons) and Bahrain (X tons) - together made up X% of total imports.

From 2012 to 2022, average annual rates of growth with regard to ball bearing parts imports into the United Arab Emirates stood at X%. At the same time, Kuwait (X%), Bahrain (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. While the share of the United Arab Emirates (X p.p.) and Kuwait (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Saudi Arabia (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($X), the United Arab Emirates ($X) and Kuwait ($X) constituted the countries with the highest levels of imports in 2022, together comprising X% of total imports.

Kuwait, with a CAGR of X%, recorded the highest growth rate of the value of imports, among 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

In 2022, the import price in GCC amounted to $X per ton, waning by X% against the previous year. In general, the import price recorded a noticeable curtailment. The growth pace was the most rapid in 2018 when the import price increased by X%. As a result, import price reached the peak level of $X per ton. From 2019 to 2022, the import prices remained at a lower figure.

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 Saudi Arabia (X%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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