Saudi Arabia: Ball Bearing Market 2024

Ball Bearing Market Size in Saudi Arabia

In 2022, the Saudi ball bearing market was finally on the rise to reach $X after two years of decline. Over the period under review, consumption, however, recorded a pronounced shrinkage. Over the period under review, the market reached the maximum level at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Ball Bearing Exports

Exports from Saudi Arabia

In 2021, overseas shipments of ball bearings increased by X% to X tons, rising for the second year in a row after two years of decline. Overall, exports recorded a significant increase. The most prominent rate of growth was recorded in 2015 with an increase of X%. The Saudi Arabia exports peaked in 2021 and are likely to see gradual growth in the near future.

In value terms, ball bearing exports reduced to $X in 2021. Over the period under review, exports posted a resilient expansion. The pace of growth appeared the most rapid in 2015 when exports increased by X%. The Saudi Arabia exports peaked at $X in 2020, and then reduced in the following year.

Exports by Country

China was the largest exporter of ball bearings in the world, with the volume of exports amounting to X tons, which was near X% of total exports in 2021. Japan (X tons) ranks second in terms of the total exports with a X% share, followed by Germany (X%) and Italy (X%). South Korea (X tons), France (X tons), the Netherlands (X tons), Singapore (X tons), Poland (X tons), Thailand (X tons), the United States (X tons) and Slovakia (X tons) followed a long way behind the leaders.

China was also the fastest-growing in terms of the ball bearings exports, with a CAGR of X% from 2012 to 2021. At the same time, Thailand (X%), the Netherlands (X%), Poland (X%) and South Korea (X%) displayed positive paces of growth. Italy, Germany and Japan experienced a relatively flat trend pattern. By contrast, France (X%), Singapore (X%), Slovakia (X%) and the United States (X%) illustrated a downward trend over the same period. While the share of China (X p.p.) increased significantly in terms of the global exports from 2012-2021, the share of Slovakia (X p.p.), Italy (X p.p.), France (X p.p.), Germany (X p.p.), Singapore (X p.p.), the United States (X p.p.) and Japan (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($X), Japan ($X) and Germany ($X) constituted the countries with the highest levels of exports in 2021, with a combined X% share of total exports. Italy, France, the United States, the Netherlands, South Korea, Thailand, Singapore, Poland and Slovakia lagged somewhat behind, together accounting for a further X%.

Thailand, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2021, the export price in Saudi Arabia amounted to $X per ton, dropping by X% against the previous year. Over the period under review, the export price continues to indicate a abrupt slump. The pace of growth was the most pronounced in 2016 an increase of X%. Over the period under review, the export prices hit record highs at $X per ton in 2013; however, from 2014 to 2021, the export prices failed to regain momentum.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (X%), while the other leaders experienced more modest paces of growth.

Ball Bearing Imports

Imports into Saudi Arabia

In 2022, purchases abroad of ball bearings increased by X% to X tons for the first time since 2019, thus ending a two-year declining trend. Over the period under review, imports, however, saw a abrupt descent. Saudi Arabia imports peaked at X tons in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, ball bearing imports rose markedly to $X in 2022. In general, imports, however, recorded a perceptible descent. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

The purchases of the three major importers of ball bearings, namely Germany, the United States and China, represented more than fourth of total import. The following importers - Italy (X tons), Mexico (X tons), the Netherlands (X tons), Brazil (X tons), France (X tons), Indonesia (X tons), Russia (X tons), Belgium (X tons), South Korea (X tons) and India (X tons) - together made up X% of total imports.

From 2012 to 2022, the biggest increases were recorded for Russia (with a CAGR of X%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), China ($X) and the United States ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports. Italy, Mexico, the Netherlands, India, France, South Korea, Brazil, Russia, Belgium and Indonesia lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Russia, with a CAGR of X%, recorded the highest rates of growth with regard to 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 2022, the import price in Saudi Arabia amounted to $X per ton, declining by X% against the previous year. In general, import price indicated a prominent increase 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, ball bearing import price increased by X% against 2015 indices. The pace of growth appeared the most rapid in 2020 an increase of X% against the previous year. Over the period under review, import prices hit record highs at $X per ton in 2021, and then shrank in the following year.

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

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

Source: IndexBox Platform

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