GCC: Tapered Roller Bearing Market 2024

Tapered Roller Bearing Market Size in GCC

The GCC tapered roller bearing market reduced remarkably to $X in 2022, falling by X% against the previous year. Overall, consumption saw a noticeable descent. The level of consumption peaked at $X in 2016; however, from 2017 to 2022, consumption remained at a lower figure.

Tapered Roller Bearing Production in GCC

In value terms, tapered roller bearing production declined modestly to $X in 2022 estimated in export price. The total production indicated a strong expansion from 2012 to 2022: its value 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, production increased by X% against 2020 indices. The pace of growth was the most pronounced in 2014 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2017; however, from 2018 to 2022, production stood at a somewhat lower figure.

Tapered Roller Bearing Exports

Exports in GCC

In 2022, the amount of tapered roller bearings exported in GCC soared to X tons, with an increase of X% on 2021 figures. Over the period under review, exports continue to indicate a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, tapered roller bearing exports skyrocketed to $X in 2022. In general, exports saw a significant expansion. 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, amounting to X tons, which was near X% of total exports in 2022. Oman (X tons) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the tapered roller bearings exports, with a CAGR of X% from 2012 to 2022. At the same time, Oman (X%) displayed positive paces of growth. From 2012 to 2022, the share of Oman increased by X percentage points.

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

In the United Arab Emirates, tapered roller bearing exports increased 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, surging by X% against the previous year. Export price indicated a measured 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, tapered roller bearing export price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2017 an increase of X%. As a result, the export price reached the peak level of $X per ton. From 2018 to 2022, the export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman totaled $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%).

Tapered Roller Bearing Imports

Imports in GCC

In 2022, the amount of tapered roller bearings imported in GCC surged to X tons, picking up by X% against the previous year. Overall, imports recorded resilient growth. The growth pace was the most rapid in 2019 with an increase of X%. Over the period under review, imports reached the maximum in 2022 and are likely to see gradual growth in the immediate term.

In value terms, tapered roller bearing imports rose remarkably to $X in 2022. Total imports indicated a mild expansion from 2012 to 2022: its value 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, imports increased by X% against 2018 indices. The pace of growth was the most pronounced in 2016 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X tons, which was approx. X% of total imports in 2022. It was distantly followed by Saudi Arabia (X tons), comprising an X% share of total imports. Oman (X tons) held a little share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of X% from 2012 to 2022. At the same time, Oman (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of X% from 2012-2022. While the share of the United Arab Emirates (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, the United Arab Emirates ($X) constitutes the largest market for imported tapered roller bearings in GCC, comprising X% of total imports. The second position in the ranking was taken by Saudi Arabia ($X), with an X% share of total imports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates was relatively modest. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Oman (X% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per ton, declining by X% against the previous year. Over the period under review, the import price saw a pronounced contraction. The growth pace was the most rapid in 2013 when the import price increased by X% against the previous year. The level of import peaked at $X per ton in 2014; however, from 2015 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 Oman ($X per ton), while the United Arab Emirates ($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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