Saudi Arabia: Market for Gearboxes and Speed Changers 2024

Market Size for Gearboxes and Speed Changers in Saudi Arabia

The Saudi gearboxes and speed changers market soared to $X in 2022, increasing by X% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption recorded a mild expansion. As a result, consumption attained the peak level of $X. From 2021 to 2022, the growth of the market failed to regain momentum.

Exports of Gearboxes and Speed Changers

Exports from Saudi Arabia

Gearboxes and speed changers exports from Saudi Arabia soared to X tons in 2022, growing by X% compared with 2021 figures. Overall, exports, however, continue to indicate a noticeable downturn. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. Over the period under review, the exports attained the maximum at X tons in 2017; however, from 2018 to 2022, the exports stood at a somewhat lower figure.

In value terms, gearboxes and speed changers exports surged to $X in 2022. Over the period under review, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2020 with an increase of X%. As a result, the exports reached the peak of $X. From 2021 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X tons), the United States (X tons) and Bahrain (X tons) were the main destinations of gearboxes and speed changers exports from Saudi Arabia, with a combined X% share of total exports. China lagged somewhat behind, accounting for a further X%.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by China (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, the United States ($X), Bahrain ($X) and the United Arab Emirates ($X) constituted the largest markets for gearboxes and speed changers exported from Saudi Arabia worldwide, with a combined X% share of total exports. These countries were followed by China, which accounted for a further X%.

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

Export Prices by Country

The average gearboxes and speed changers export price stood at $X per ton in 2022, dropping by X% against the previous year. In general, the export price, however, enjoyed moderate growth. The pace of growth was the most pronounced in 2016 when the average export price increased by X%. As a result, the export price attained the peak level of $X per ton. From 2017 to 2022, the average export prices failed to regain momentum.

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 Bahrain ($X per ton), while the average price for exports to China ($X per ton) was amongst the lowest.

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

Imports of Gearboxes and Speed Changers

Imports into Saudi Arabia

In 2022, approx. X tons of gearboxes and speed changers were imported into Saudi Arabia; rising by X% compared with 2021 figures. In general, imports posted noticeable growth. The most prominent rate of growth was recorded in 2020 when imports increased by X% against the previous year. As a result, imports reached the peak of X tons. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

In value terms, gearboxes and speed changers imports surged to $X in 2022. Over the period under review, imports, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2021 to 2022, the growth of imports failed to regain momentum.

Imports by Country

In 2022, China (X tons) constituted the largest supplier of gearboxes and speed changers to Saudi Arabia, with a X% share of total imports. Moreover, gearboxes and speed changers imports from China exceeded the figures recorded by the second-largest supplier, Germany (X tons), more than tenfold. The United States (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 China amounted to X%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (X% per year) and the United States (X% per year).

In value terms, China ($X) constituted the largest supplier of gearboxes and speed changers to Saudi Arabia, comprising X% of total imports. The second position in the ranking was held by Germany ($X), with a X% share of total imports. It was followed by the United States, with a X% share.

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

Import Prices by Country

The average gearboxes and speed changers import price stood at $X per ton in 2022, with an increase of X% against the previous year. Over the period under review, the import price, however, showed a pronounced reduction. The most prominent rate of growth was recorded in 2021 an increase of X%. Over the period under review, average import prices reached the peak figure at $X per ton in 2014; however, from 2015 to 2022, import prices remained at a 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 ($X per ton), while the price for Turkey ($X per ton) was amongst the lowest.

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

Source: IndexBox Platform

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