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Mar 10, 2025

Middle East's Ball and Roller Bearings Market to Grow at a CAGR of 4.1% through 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: Middle East - Ball and Roller Bearings - Market Analysis, Forecast, Size, Trends And Insights.

The Middle East ball and roller bearings market is expected to see increasing demand over the next decade, with a forecasted CAGR of +4.1% in volume and +2.9% in value. By the end of 2035, the market volume is projected to reach 268K tons, with a market value of $2.9B in nominal prices.

Driven by increasing demand for ball and roller bearings in the Middle East, the market is expected to continue an upward consumption trend over the next decade. Market performance is forecast to retain its current trend pattern, expanding with an anticipated CAGR of +4.1% for the period from 2024 to 2035, which is projected to bring the market volume to 268K tons by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.9% for the period from 2024 to 2035, which is projected to bring the market value to $2.9B (in nominal wholesale prices) by the end of 2035.

In 2024, consumption of ball and roller bearings decreased by -4% to 173K tons for the first time since 2020, thus ending a three-year rising trend. The total consumption volume increased at an average annual rate of +3.9% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak volume of 192K tons. From 2020 to 2024, the growth of the consumption failed to regain momentum.

The value of the bearing market in the Middle East shrank to $2.1B in 2024, falling by -5.4% 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). The market value increased at an average annual rate of +2.4% from 2013 to 2024; however, the trend pattern remained relatively stable, with only minor fluctuations being recorded throughout the analyzed period. The level of consumption peaked at $2.3B in 2019; however, from 2020 to 2024, consumption stood at a somewhat lower figure.

Turkey (97K tons) remains the largest bearing consuming country in the Middle East, comprising approx. 56% of total volume. Moreover, bearing consumption in Turkey exceeded the figures recorded by the second-largest consumer, the United Arab Emirates (28K tons), fourfold. The third position in this ranking was held by Iran (25K tons), with a 14% share.

In Turkey, bearing consumption increased at an average annual rate of +1.8% over the period from 2013-2024. In the other countries, the average annual rates were as follows: the United Arab Emirates (+9.7% per year) and Iran (+14.9% per year).

In value terms, Turkey ($1.3B) led the market, alone. The second position in the ranking was held by the United Arab Emirates ($318M). It was followed by Iran.

In Turkey, the bearing market increased at an average annual rate of +1.5% over the period from 2013-2024. In the other countries, the average annual rates were as follows: the United Arab Emirates (+7.4% per year) and Iran (+11.1% per year).

The countries with the highest levels of bearing per capita consumption in 2024 were the United Arab Emirates (2.7 kg per person), Bahrain (2 kg per person) and Kuwait (2 kg per person).

From 2013 to 2024, the biggest increases were recorded for Iran (with a CAGR of +13.5%), while consumption for the other leaders experienced more modest paces of growth.

In 2024, production of ball and roller bearings in the Middle East contracted to 83K tons, remaining constant against 2023. The total output volume increased at an average annual rate of +1.8% over the period from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The growth pace was the most rapid in 2015 when the production volume increased by 26%. The volume of production peaked at 110K tons in 2017; however, from 2018 to 2024, production failed to regain momentum.

In value terms, bearing production contracted modestly to $1B in 2024 estimated in export price. The total output value increased at an average annual rate of +1.2% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2017 with an increase of 19% against the previous year. As a result, production reached the peak level of $1.4B. From 2018 to 2024, production growth failed to regain momentum.

Turkey (70K tons) constituted the country with the largest volume of bearing production, accounting for 85% of total volume. Moreover, bearing production in Turkey exceeded the figures recorded by the second-largest producer, Kuwait (8.5K tons), eightfold.

From 2013 to 2024, the average annual rate of growth in terms of volume in Turkey was relatively modest. In the other countries, the average annual rates were as follows: Kuwait (+9.7% per year) and Bahrain (+11.1% per year).

In 2024, supplies from abroad of ball and roller bearings decreased by -2.2% to 108K tons, falling for the second consecutive year after two years of growth. Over the period under review, imports, however, recorded strong growth. The growth pace was the most rapid in 2019 when imports increased by 70%. The volume of import peaked at 113K tons in 2022; however, from 2023 to 2024, imports stood at a somewhat lower figure.

In value terms, bearing imports declined modestly to $1.3B in 2024. The total import value increased at an average annual rate of +2.6% from 2013 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when imports increased by 19% against the previous year. Over the period under review, imports reached the maximum at $1.4B in 2023, and then reduced in the following year.

In 2024, Turkey (39K tons), the United Arab Emirates (33K tons) and Iran (25K tons) represented the main importer of ball and roller bearings in the Middle East, creating 90% of total import. It was distantly followed by Saudi Arabia (4.9K tons), making up a 4.5% share of total imports. Iraq (2.6K tons) held a little share of total imports.

From 2013 to 2024, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iran (with a CAGR of +14.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Turkey ($574M), the United Arab Emirates ($302M) and Iran ($159M) were the countries with the highest levels of imports in 2024, together accounting for 81% of total imports.

Iran, with a CAGR of +6.9%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

In 2024, the import price in the Middle East amounted to $11,839 per ton, which is down by -2.8% against the previous year. In general, the import price recorded a noticeable decline. The most prominent rate of growth was recorded in 2020 when the import price increased by 11%. Over the period under review, import prices hit record highs at $16,183 per ton in 2013; however, from 2014 to 2024, import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Saudi Arabia ($20,722 per ton), while Iran ($6,351 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+3.1%), while the other leaders experienced a decline in the import price figures.

In 2024, bearing exports in the Middle East skyrocketed to 18K tons, picking up by 32% against the previous year. Total exports indicated a measured expansion from 2013 to 2024: its volume increased at an average annual rate of +2.5% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2024 figures, exports decreased by -11.9% against 2022 indices. The volume of export peaked at 21K tons in 2022; however, from 2023 to 2024, the exports stood at a somewhat lower figure.

In value terms, bearing exports stood at $237M in 2024. Total exports indicated notable growth from 2013 to 2024: its value increased at an average annual rate of +4.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 29%. The level of export peaked in 2024 and is expected to retain growth in the immediate term.

In 2024, Turkey (12K tons) was the main exporter of ball and roller bearings, committing 64% of total exports. It was distantly followed by the United Arab Emirates (5.9K tons), committing a 32% share of total exports. Israel (284 tons) followed a long way behind the leaders.

Exports from Turkey increased at an average annual rate of +4.1% from 2013 to 2024. At the same time, Israel (+30.1%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +30.1% from 2013-2024. The United Arab Emirates experienced a relatively flat trend pattern. Turkey (+9.9 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -8.9% from 2013 to 2024, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($174M) remains the largest bearing supplier in the Middle East, comprising 73% of total exports. The second position in the ranking was held by the United Arab Emirates ($46M), with a 20% share of total exports.

From 2013 to 2024, the average annual growth rate of value in Turkey totaled +4.6%. In the other countries, the average annual rates were as follows: the United Arab Emirates (+1.9% per year) and Israel (+31.2% per year).

The export price in the Middle East stood at $12,944 per ton in 2024, dropping by -13.9% against the previous year. Over the last eleven years, it increased at an average annual rate of +1.7%. The pace of growth appeared the most rapid in 2023 an increase of 40% against the previous year. As a result, the export price attained the peak level of $15,041 per ton, and then dropped in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Israel ($27,328 per ton), while the United Arab Emirates ($7,862 per ton) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+1.6%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the bearing market in the Middle East. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and Its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Exports

The Latest Trends and Insights into The Industry

The Largest Importers on The Market and How They Succeed

The Largest Exporters on The Market and How They Succeed

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles