United Arab Emirates: Bearing Market 2024

Bearing Market Size in the United Arab Emirates

The bearing market in the United Arab Emirates declined sharply to $X in 2022, dropping 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). In general, consumption continues to indicate a deep contraction. Over the period under review, the market hit record highs at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Bearing Exports

Exports from the United Arab Emirates

In 2022, exports of ball or roller bearings from the United Arab Emirates soared to X tons, rising by X% compared with the year before. Overall, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, bearing exports surged to $X in 2022. In general, exports showed a significant increase. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Iraq (X tons), Saudi Arabia (X tons) and Tanzania (X tons) were the main destinations of bearing exports from the United Arab Emirates, together accounting for X% of total exports. Afghanistan, Cote d'Ivoire, Iran, Egypt, Azerbaijan, Pakistan, Oman, Sudan, Singapore and Jordan lagged somewhat behind, together comprising a further X%.

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

In value terms, Saudi Arabia ($X), Iraq ($X) and Azerbaijan ($X) constituted the largest markets for bearing exported from the United Arab Emirates worldwide, with a combined X% share of total exports. Egypt, Afghanistan, Oman, Pakistan, Iran, Singapore, Tanzania, Jordan, Sudan and Cote d'Ivoire lagged somewhat behind, together accounting for a further X%.

Jordan, with a CAGR of X%, recorded the highest growth rate of 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 bearing export price stood at $X per ton in 2022, rising by X% against the previous year. Over the last decade, it increased at an average annual rate of X%. As a result, the export price reached the peak level and is likely to continue growth in the immediate term.

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 Azerbaijan ($X per ton), while the average price for exports to Cote d'Ivoire ($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 Tanzania (X%), while the prices for the other major destinations experienced more modest paces of growth.

Bearing Imports

Imports into the United Arab Emirates

Bearing imports into the United Arab Emirates soared to X tons in 2022, rising by X% on the previous year's figure. Over the period under review, total imports indicated a buoyant increase from 2012 to 2022: its volume 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, imports increased by X% against 2018 indices. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked in 2022 and are expected to retain growth in the immediate term.

In value terms, bearing imports stood at $X in 2022. In general, imports recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

China (X tons), Japan (X tons) and Poland (X tons) were the main suppliers of bearing imports to the United Arab Emirates, with a combined X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Poland (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Japan ($X), China ($X) and the United States ($X) constituted the largest bearing suppliers to the United Arab Emirates, with a combined X% share of total imports. Germany, Poland, India, South Korea, France, the UK, Romania and Singapore lagged somewhat behind, together accounting for a further X%.

Among the main suppliers, Poland, 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

The average bearing import price stood at $X per ton in 2022, waning by X% against the previous year. Overall, the import price showed a abrupt descent. The most prominent rate of growth was recorded in 2017 when the average import price increased by X% against the previous year. Over the period under review, average import prices reached the peak figure at $X per ton in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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