Kuwait: Ship Propeller Market 2022

Ship Propeller Market Size in Kuwait

The Kuwaiti ship propeller market was finally on the rise to reach $X in 2021, after five years of decline. Overall, consumption enjoyed a moderate expansion. Ship propeller consumption peaked at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Ship Propeller Exports

Exports from Kuwait

Ship propeller exports from Kuwait soared to X tons in 2021, growing by X% on the year before. Over the period under review, exports recorded a prominent expansion. The most prominent rate of growth was recorded in 2015 when exports increased by X%. Over the period under review, the exports reached the maximum at X tons in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

In value terms, ship propeller exports reduced modestly to $X in 2021. In general, exports recorded significant growth. The pace of growth appeared the most rapid in 2019 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Bahrain (X tons) was the main destination for ship propeller exports from Kuwait, accounting for a X% share of total exports. Moreover, ship propeller exports to Bahrain exceeded the volume sent to the second major destination, the United Arab Emirates (X kg), threefold. The United States (X kg) ranked third in terms of total exports with a X% share.

From 2012 to 2021, the average annual growth rate of volume to Bahrain stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United Arab Emirates (+X% per year) and the United States (+X% per year).

In value terms, the United Arab Emirates ($X) emerged as the key foreign market for ship propeller exports from Kuwait, comprising X% of total exports. The second position in the ranking was occupied by the United States ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates stood at +X%. Exports to the other major destinations recorded the following average annual rates of exports growth: the United States (+X% per year) and Saudi Arabia (+X% per year).

Export Prices by Country

In 2021, the average ship propeller export price amounted to $X per ton, declining by -X% against the previous year. Over the period under review, the export price, however, showed prominent growth. The pace of growth was the most pronounced in 2014 when the average export price increased by X% against the previous year. Over the period under review, the average export prices reached the maximum at $X per ton in 2020, and then declined significantly in the following year.

Prices varied noticeably by the country of destination: the country with the highest price was the United Arab Emirates ($X per ton), while the average price for exports to Bahrain ($X per ton) was amongst the lowest.

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

Ship Propeller Imports

Imports into Kuwait

In 2021, supplies from abroad of ships’ or boats’ propellers and blades therefor increased by X% to X tons for the first time since 2015, thus ending a five-year declining trend. Over the period under review, imports showed a resilient expansion. Over the period under review, imports hit record highs at X tons in 2015; however, from 2016 to 2021, imports remained at a lower figure.

In value terms, ship propeller imports skyrocketed to $X in 2021. In general, imports showed a mild setback. Over the period under review, imports reached the maximum at $X in 2016; however, from 2017 to 2021, imports failed to regain momentum.

Imports by Country

The United States (X tons), China (X tons) and India (X kg) were the main suppliers of ship propeller imports to Kuwait, together comprising X% of total imports. The UK, Germany, Japan, Switzerland, Taiwan (Chinese), the United Arab Emirates, Norway and Spain lagged somewhat behind, together accounting for a further X 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Norway (with a CAGR of +X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United States ($X) constituted the largest supplier of ship propeller to Kuwait, comprising X% of total imports. The second position in the ranking was occupied by China ($X), with a X% share of total imports. It was followed by Switzerland, with a X% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the United States stood at -X%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+X% per year) and Switzerland (+X% per year).

Import Prices by Country

The average ship propeller import price stood at $X per ton in 2021, approximately reflecting the previous year. Overall, the import price continues to indicate a abrupt setback. The most prominent rate of growth was recorded in 2016 an increase of X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Switzerland ($X per ton), while the price for China ($X per ton) was amongst the lowest.

From 2012 to 2021, 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 a decline.

Source: IndexBox Platform