Kuwait: Transmission Shaft Market 2024

Transmission Shaft Market Size in Kuwait

The Kuwaiti transmission shaft market skyrocketed to $X in 2022, rising by X% against the previous year. Over the period under review, consumption recorded a pronounced expansion. As a result, consumption reached the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Transmission Shaft Production in Kuwait

In value terms, transmission shaft production surged to $X in 2022 estimated in export price. Over the period under review, production posted a pronounced expansion. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, production reached the peak level of $X. From 2021 to 2022, production growth remained at a lower figure.

Transmission Shaft Exports

Exports from Kuwait

In 2022, the amount of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exported from Kuwait skyrocketed to X tons, picking up by X% on the previous year. Over the period under review, exports posted a prominent expansion. The growth pace was the most rapid in 2019 when exports increased by X%. Over the period under review, the exports hit record highs at X tons in 2020; however, from 2021 to 2022, the exports failed to regain momentum.

In value terms, transmission shaft exports totaled $X in 2022. Overall, exports posted strong growth. The growth pace was the most rapid in 2018 with an increase of X%. The exports peaked at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Saudi Arabia (X tons) was the main destination for transmission shaft exports from Kuwait, accounting for a X% share of total exports. Moreover, transmission shaft exports to Saudi Arabia exceeded the volume sent to the second major destination, Egypt (X tons), tenfold. The third position in this ranking was held by Iraq (X tons), with a X% share.

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

In value terms, Saudi Arabia ($X) emerged as the key foreign market for transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain exports from Kuwait, comprising X% of total exports. The second position in the ranking was held by Egypt ($X), with a X% share of total exports. It was followed by China, with a X% share.

From 2013 to 2022, the average annual growth rate of value to Saudi Arabia totaled X%. Exports to the other major destinations recorded the following average annual rates of exports growth: Egypt (X% per year) and China (X% per year).

Export Prices by Country

In 2022, the average transmission shaft export price amounted to $X per ton, dropping by X% against the previous year. Overall, the export price, however, recorded buoyant growth. The most prominent rate of growth was recorded in 2021 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton, and then contracted sharply in the following year.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was China ($X per ton), while the average price for exports to Singapore ($X per ton) was amongst the lowest.

From 2013 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to China (X%), while the prices for the other major destinations experienced more modest paces of growth.

Transmission Shaft Imports

Imports into Kuwait

In 2022, supplies from abroad of transmission shafts and cranks, bearing housings and plain shaft bearings, gears and gearing and articulated link chain increased by X% to X tons, rising for the second consecutive year after two years of decline. In general, imports saw a resilient increase. The pace of growth appeared the most rapid in 2018 with an increase of X%. As a result, imports reached the peak of X tons. From 2019 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, transmission shaft imports surged to $X in 2022. The total import value increased at an average annual rate of X% over the period from 2013 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2014 with an increase of X% against the previous year. Imports peaked at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, China (X tons) constituted the largest transmission shaft supplier to Kuwait, accounting for a X% share of total imports. Moreover, transmission shaft imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), threefold. Japan (X tons) ranked third in terms of total imports with a X% share.

From 2013 to 2022, the average annual rate of growth in terms of volume from China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and Japan (X% per year).

In value terms, the United States ($X), Germany ($X) and Japan ($X) constituted the largest transmission shaft suppliers to Kuwait, with a combined X% share of total imports. China, India, the UK, Italy, France, Canada, Mexico, South Korea, Turkey and the United Arab Emirates lagged somewhat behind, together comprising a further X%.

China, with a CAGR of X%, saw the highest growth rate of the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average transmission shaft import price stood at $X per ton in 2022, waning by X% against the previous year. In general, the import price recorded a pronounced slump. The pace of growth appeared the most rapid in 2019 when the average import price increased by X%. The import price peaked at $X per ton in 2020; however, from 2021 to 2022, import prices stood at a somewhat lower figure.

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 the United States ($X per ton), while the price for China ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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