Saudi Arabia: Needle Roller Bearing Market 2024

Needle Roller Bearing Market Size in Saudi Arabia

The Saudi needle roller bearing market expanded to $X in 2022, surging by X% against the previous year. Overall, consumption posted a buoyant increase. Saudi Arabia consumption peaked at $X in 2020; however, from 2021 to 2022, consumption stood at a somewhat lower figure.

Needle Roller Bearing Production in Saudi Arabia

In value terms, needle roller bearing production rose markedly to $X in 2022 estimated in export price. In general, production posted resilient growth. The most prominent rate of growth was recorded in 2015 with an increase of X% against the previous year. Saudi Arabia production peaked at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Needle Roller Bearing Exports

Exports from Saudi Arabia

In 2022, approx. X kg of needle roller bearings were exported from Saudi Arabia; falling by X% compared with the previous year. In general, exports showed a deep setback. The pace of growth appeared the most rapid in 2014 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure at X kg in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, needle roller bearing exports dropped significantly to $X in 2022. Over the period under review, exports continue to indicate a abrupt downturn. The most prominent rate of growth was recorded in 2014 with an increase of X% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

In 2022, China (X tons), distantly followed by Japan (X tons), Germany (X tons), Slovakia (X tons) and France (X tons) were the key exporters of needle roller bearings, together creating X% of total exports. The following exporters - South Korea (X tons), the United States (X tons), Mexico (X tons), the Czech Republic (X tons), Romania (X tons) and the Netherlands (X tons) - together made up X% of total exports.

From 2018 to 2022, the biggest increases were recorded for Mexico (with a CAGR of X%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Germany ($X), Japan ($X) and China ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports. Slovakia, the United States, France, South Korea, the Netherlands, the Czech Republic, Mexico and Romania lagged somewhat behind, together accounting for a further X%.

Among the main exporting countries, Romania, with a CAGR of X%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in Saudi Arabia amounted to $X per ton, flattening at the previous year. Over the period under review, export price indicated a strong increase from 2018 to 2022: its price increased at an average annual rate of X% over the last four years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, needle roller bearing export price increased by X% against 2019 indices. The growth pace was the most rapid in 2020 when the export price increased by X% against the previous year. The Saudi Arabia export price peaked at $X per ton in 2021, and then fell modestly in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per ton), while Romania ($X per ton) was amongst the lowest.

From 2018 to 2022, 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.

Needle Roller Bearing Imports

Imports into Saudi Arabia

In 2016, the amount of needle roller bearings imported into Saudi Arabia stood at X tons, almost unchanged from the previous year. Overall, imports continue to indicate a deep contraction. The pace of growth appeared the most rapid in 2014 when imports increased by X%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2016, imports stood at a somewhat lower figure.

In value terms, needle roller bearing imports totaled $X in 2016. In general, imports recorded a perceptible increase. The growth pace was the most rapid in 2014 with an increase of X% against the previous year. As a result, imports reached the peak of $X. From 2015 to 2016, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2016, Germany (X tons) and the United States (X tons) were the key importers of needle roller bearingsin the world, together making up X% of total imports. China (X tons) held the next position in the ranking, followed by Mexico (X tons) and South Korea (X tons). All these countries together took near X% share of total imports. France (X tons), Thailand (X tons), Indonesia (X tons), the Czech Republic (X tons), Japan (X tons), Italy (X tons), Austria (X tons) and Brazil (X tons) held a minor share of total imports.

From 2012 to 2016, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Thailand (with a CAGR of X%), while imports 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 2016, together comprising X% of total imports. Mexico, South Korea, France, Thailand, Japan, Indonesia, Italy, Brazil, the Czech Republic and Austria lagged somewhat behind, together comprising a further X%.

Among the main importing countries, Mexico, with a CAGR of X%, saw 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

The import price in Saudi Arabia stood at $X per ton in 2016, therefore, remained relatively stable against the previous year. In general, the import price saw strong growth. The pace of growth appeared the most rapid in 2013 when the import price increased by X%. Saudi Arabia import price peaked in 2016 and is expected to retain growth in the near future.

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

From 2012 to 2016, the most notable rate of growth in terms of prices was attained by Mexico (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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