Kuwait: Market for Diesel Engines (Other Than For Motor Vehicles And Aircraft) 2024

Market Size for Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Kuwait

In 2022, the Kuwaiti market for diesel engines (other than for motor vehicles and aircraft) decreased by X% to $X, falling for the second consecutive year after three years of growth. Overall, consumption, however, enjoyed a noticeable expansion. Consumption of peaked at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Production of Diesel Engines (Other Than For Motor Vehicles And Aircraft) in Kuwait

In value terms, production of diesel engines (other than for motor vehicles and aircraft) contracted to $X in 2022 estimated in export price. Over the period under review, production, however, posted a strong expansion. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Exports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Exports from Kuwait

In 2022, shipments abroad of diesel engines (other than for motor vehicles and aircraft) increased by X% to X units, rising for the fourth consecutive year after two years of decline. In general, exports saw a strong increase. The pace of growth was the most pronounced in 2021 with an increase of X%. Over the period under review, the exports of hit record highs in 2022 and are expected to retain growth in years to come.

In value terms, exports of diesel engines (other than for motor vehicles and aircraft) dropped significantly to $X in 2022. Over the period under review, exports saw a remarkable increase. The pace of growth was the most pronounced in 2020 when exports increased by X%. The exports peaked at $X in 2021, and then dropped markedly in the following year.

Exports by Country

The United Arab Emirates (X units) was the main destination for exports of diesel engines (other than for motor vehicles and aircraft) from Kuwait, accounting for a X% share of total exports. It was followed by Oman (X units), with a X% share of total exports. Bahrain (X units) ranked third in terms of total exports with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Bahrain (X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for diesel engines (other than for motor vehicles and aircraft) exports from Kuwait, comprising X% of total exports. The second position in the ranking was taken by Oman ($X), with a X% share of total exports. It was followed by Bahrain, with a X% share.

From 2013 to 2022, the average annual growth rate of value to the United Arab Emirates was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Oman (X% per year) and Bahrain (X% per year).

Export Prices by Country

The average export price for diesel engines (other than for motor vehicles and aircraft) stood at $X per unit in 2022, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a perceptible decline. The most prominent rate of growth was recorded in 2018 an increase of X%. The export price peaked at $X per unit in 2020; however, from 2021 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major foreign markets. In 2022, amid the top suppliers, the country with the highest price was Bahrain ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Bahrain (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Diesel Engines (Other Than For Motor Vehicles And Aircraft)

Imports into Kuwait

In 2022, imports of diesel engines (other than for motor vehicles and aircraft) into Kuwait declined to X units, waning by X% on the previous year's figure. In general, imports saw a abrupt setback. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports of failed to regain momentum.

In value terms, imports of diesel engines (other than for motor vehicles and aircraft) soared to $X in 2022. Over the period under review, imports, however, showed a tangible expansion. The growth pace was the most rapid in 2015 when imports increased by X%. Imports peaked at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United States (X units), the UK (X units) and China (X units) were the main suppliers of imports of diesel engines (other than for motor vehicles and aircraft) to Kuwait, together accounting for X% of total imports.

From 2013 to 2022, the biggest increases were recorded for the UK (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest diesel engines (other than for motor vehicles and aircraft) suppliers to Kuwait were the UK ($X), the United States ($X) and Germany ($X), together comprising X% of total imports.

The UK, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average import price for diesel engines (other than for motor vehicles and aircraft) amounted to $X per unit, surging by X% against the previous year. In general, the import price saw a resilient expansion. The pace of growth was the most pronounced in 2018 an increase of X% against the previous year. Over the period under review, average import prices attained the peak figure in 2022 and is expected to retain growth in the near future.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Sweden ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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