Oman: Bearing Market 2024

Bearing Market Size in Oman

The Omani bearing market dropped to $X in 2022, falling by X% against the previous year. In general, the total consumption indicated a perceptible expansion from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by X% against 2020 indices. Bearing consumption peaked at $X in 2016; however, from 2017 to 2022, consumption failed to regain momentum.

Bearing Production in Oman

In value terms, bearing production fell to $X in 2022 estimated in export price. In general, production, however, showed a strong increase. The pace of growth was the most pronounced in 2015 when the production volume increased by X% against the previous year. Bearing production peaked at $X in 2016; however, from 2017 to 2022, production stood at a somewhat lower figure.

Bearing Exports

Exports from Oman

In 2022, shipments abroad of ball and roller bearings increased by X% to X tons, rising for the fourth year in a row after two years of decline. In general, exports continue to indicate a resilient expansion. The pace of growth was the most pronounced in 2016 when exports increased by X%. The exports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, bearing exports reduced to $X in 2022. Over the period under review, exports, however, continue to indicate a deep reduction. The most prominent rate of growth was recorded in 2016 with an increase of X% against the previous year. Over the period under review, the exports reached the maximum at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Yemen (X tons) was the main destination for bearing exports from Oman, accounting for a X% share of total exports. Moreover, bearing exports to Yemen exceeded the volume sent to the second major destination, the United Arab Emirates (X tons), more than tenfold.

From 2012 to 2022, the average annual rate of growth in terms of volume to Yemen amounted to X%.

In value terms, Yemen ($X) emerged as the key foreign market for ball and roller bearings exports from Oman, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

From 2012 to 2022, the average annual growth rate of value to Yemen amounted to X%.

Export Prices by Country

The average bearing export price stood at $X per ton in 2022, which is down by X% against the previous year. Overall, the export price faced a abrupt decline. The pace of growth was the most pronounced in 2019 when the average export price increased by X%. The export price peaked at $X per ton in 2014; however, from 2015 to 2022, the export prices stood at a somewhat 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 the United Arab Emirates ($X per ton), while the average price for exports to Yemen stood at $X per ton.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Qatar (X%), while the prices for the other major destinations experienced a decline.

Bearing Imports

Imports into Oman

In 2022, overseas purchases of ball and roller bearings decreased by X% to X tons, falling for the second consecutive year after two years of growth. Over the period under review, imports showed a noticeable setback. The pace of growth appeared the most rapid in 2020 with an increase of X% against the previous year. Imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, bearing imports declined markedly to $X in 2022. In general, total imports indicated noticeable growth from 2012 to 2022: its value increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. Imports peaked at $X in 2021, and then dropped rapidly in the following year.

Imports by Country

In 2022, the United Arab Emirates (X tons) constituted the largest supplier of bearing to Oman, accounting for a X% share of total imports. Moreover, bearing imports from the United Arab Emirates exceeded the figures recorded by the second-largest supplier, Japan (X tons), more than tenfold. China (X tons) ranked third in terms of total imports with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from the United Arab Emirates totaled X%. The remaining supplying countries recorded the following average annual rates of imports growth: Japan (X% per year) and China (X% per year).

In value terms, the United Arab Emirates ($X) constituted the largest supplier of ball and roller bearings to Oman, comprising X% of total imports. The second position in the ranking was held by Qatar ($X), with a X% share of total imports. It was followed by Germany, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value from the United Arab Emirates amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Qatar (X% per year) and Germany (X% per year).

Import Prices by Country

In 2022, the average bearing import price amounted to $X per ton, flattening at the previous year. Overall, import price indicated a strong expansion from 2012 to 2022: its price increased at an average annual rate of X% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, bearing import price increased by X% against 2020 indices. The pace of growth appeared the most rapid in 2014 when the average import price increased by X% against the previous year. Over the period under review, average import prices hit record highs at $X per ton in 2021, and then dropped modestly in the following year.

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

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

Source: IndexBox Platform

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