Kuwait: Market for Grinding And Sharpening Metal Finishing Machines 2024

Market Size for Grinding And Sharpening Metal Finishing Machines in Kuwait

In 2022, after five years of growth, there was significant decline in the Kuwaiti grinding and sharpening machine market, when its value decreased by X% to $X. In general, consumption, however, saw strong growth. Over the period under review, the market hit record highs at $X in 2021, and then fell sharply in the following year.

Production of Grinding And Sharpening Metal Finishing Machines in Kuwait

In value terms, grinding and sharpening machine production rose to $X in 2022 estimated in export price. Over the period under review, production saw prominent growth. The growth pace was the most rapid in 2018 with an increase of X% against the previous year. Over the period under review, production reached the maximum level at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Exports of Grinding And Sharpening Metal Finishing Machines

Exports from Kuwait

In 2022, the amount of grinding and sharpening metal finishing machines exported from Kuwait soared to X units, picking up by X% on the previous year. Over the period under review, exports saw a significant expansion. The pace of growth was the most pronounced in 2014 when exports increased by X%. As a result, the exports reached the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, grinding and sharpening machine exports skyrocketed to $X in 2022. Overall, exports saw a buoyant increase. The growth pace was the most rapid in 2013 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

The United Arab Emirates (X units) was the main destination for grinding and sharpening machine exports from Kuwait, accounting for a X% share of total exports. It was followed by Oman (X units), with a X% share of total exports.

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

In value terms, the largest markets for grinding and sharpening machine exported from Kuwait were the United Arab Emirates ($X), Oman ($X) and Saudi Arabia ($X), with a combined X% share of total exports.

Oman, with a CAGR of X%, saw the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

The average grinding and sharpening machine export price stood at $X per unit in 2022, with a decrease of X% against the previous year. Overall, the export price faced a dramatic contraction. The growth pace was the most rapid in 2015 an increase of X% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Oman ($X per unit), while the average price for exports to Saudi Arabia ($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 Oman (X%), while the prices for the other major destinations experienced mixed trend patterns.

Imports of Grinding And Sharpening Metal Finishing Machines

Imports into Kuwait

In 2022, overseas purchases of grinding and sharpening metal finishing machines decreased by X% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, recorded a significant increase. The pace of growth was the most pronounced in 2013 with an increase of X%. Imports peaked at X units in 2021, and then dropped dramatically in the following year.

In value terms, grinding and sharpening machine imports soared to $X in 2022. Over the period under review, imports, however, continue to indicate a significant expansion. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X units), the United States (X units) and Turkey (X units) were the main suppliers of grinding and sharpening machine imports to Kuwait.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by China (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest grinding and sharpening machine suppliers to Kuwait were Taiwan (Chinese) ($X), Italy ($X) and China ($X), together accounting for X% of total imports.

Among the main suppliers, China, 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 average grinding and sharpening machine import price stood at $X per unit in 2022, growing by X% against the previous year. In general, the import price, however, faced a dramatic slump. Over the period under review, average import prices attained the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Taiwan (Chinese) ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (X%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :