Kuwait: Market for Motorcycles and Cycles With an Auxiliary Motor 2022

Market Size for Motorcycles and Cycles With an Auxiliary Motor in Kuwait

The Kuwaiti market for motorcycles and cycles with an auxiliary motor contracted rapidly to $X in 2021, declining by -30.1% against the previous year. In general, consumption continues to indicate a pronounced descent. As a result, consumption attained the peak level of $X, and then contracted rapidly in the following year.

Production of Motorcycles and Cycles With an Auxiliary Motor in Kuwait

In value terms, production of motorcycles and cycles with an auxiliary motor shrank sharply to $X in 2021 estimated in export price. Overall, production continues to indicate a mild descent. The most prominent rate of growth was recorded in 2020 when the production volume increased by 161%. As a result, production attained the peak level of $X, and then dropped remarkably in the following year.

Exports of Motorcycles and Cycles With an Auxiliary Motor

Exports from Kuwait

In 2021, shipments abroad of motorcycles and cycles with an auxiliary motor increased by 233% to X units for the first time since 2017, thus ending a three-year declining trend. Overall, exports posted a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 1,080%. Over the period under review, the exports of reached the maximum at X units in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, exports of motorcycles and cycles with an auxiliary motor skyrocketed to $X in 2021. Over the period under review, exports posted significant growth. The most prominent rate of growth was recorded in 2013 with an increase of 1,545% against the previous year. Over the period under review, the exports of attained the peak figure at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Egypt (X units), Saudi Arabia (X units) and Iran (X units) were the main destinations of exports of motorcycles and cycles with an auxiliary motor from Kuwait, together accounting for 90% of total exports. Moreover, exports of motorcycles and cycles with an auxiliary motor in Egypt exceeded the figures recorded by the second-largest exporter, Saudi Arabia, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Iran (with a CAGR of +27.7%), while the other leaders experienced more modest paces of growth.

In value terms, Iran ($X) remains the key foreign market for motorcycles and cycles with an auxiliary motor exports from Kuwait, comprising 61% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with an 11% share of total exports. It was followed by Qatar, with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Iran stood at +48.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+43.1% per year) and Qatar (+59.2% per year).

Export Prices by Country

The average export price for motorcycles and cycles with an auxiliary motor stood at $X per unit in 2021, picking up by 5.7% against the previous year. In general, the export price posted prominent growth. The pace of growth appeared the most rapid in 2018 when the average export price increased by 67%. Over the period under review, the average export prices hit record highs in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, the country with the highest price was Bahrain ($X per unit), while the average price for exports to Egypt ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (+42.1%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Motorcycles and Cycles With an Auxiliary Motor

Imports into Kuwait

In 2021, after four years of decline, there was significant growth in overseas purchases of motorcycles and cycles with an auxiliary motor, when their volume increased by 21% to X units. Over the period under review, imports, however, saw a drastic downturn. The pace of growth was the most pronounced in 2013 with an increase of 25%. As a result, imports attained the peak of X units. From 2014 to 2021, the growth of imports of remained at a somewhat lower figure.

In value terms, imports of motorcycles and cycles with an auxiliary motor skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a abrupt shrinkage. The pace of growth appeared the most rapid in 2013 with an increase of 85% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2021, the growth of imports of failed to regain momentum.

Imports by Country

In 2021, Japan (X units) constituted the largest supplier of motorcycles and cycles with an auxiliary motor to Kuwait, accounting for a 55% share of total imports. Moreover, imports of motorcycles and cycles with an auxiliary motor from Japan exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), fourfold. Germany (X units) ranked third in terms of total imports with an 8.9% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan stood at -9.4%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (+6.4% per year) and Germany (-13.4% per year).

In value terms, the United Arab Emirates ($X), Japan ($X) and Germany ($X) constituted the largest motorcycles and cycles with an auxiliary motor suppliers to Kuwait, with a combined 57% share of total imports.

Among the main suppliers, the United Arab Emirates, with a CAGR of +18.9%, recorded 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

In 2021, the average import price for motorcycles and cycles with an auxiliary motor amounted to $X per unit, growing by 7% against the previous year. Over the period under review, import price indicated a buoyant expansion from 2012 to 2021: its price increased at an average annual rate of +5.5% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, import price for motorcycles and cycles with an auxiliary motor decreased by -29.1% against 2018 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 48%. The import price peaked at $X per unit in 2018; however, from 2019 to 2021, import prices failed to regain momentum.

Prices varied noticeably country of origin: the country with the highest price was Italy ($X per unit), while the price for China ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+34.1%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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