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Saudi Arabia - Steel Springs and Leaves for Springs - Market Analysis, Forecast, Size, Trends and Insights
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View PricingSaudi Arabia: Steel Spring Market 2024
Steel Spring Market Size in Saudi Arabia
In 2023, after two years of decline, there was significant growth in the Saudi steel spring market, when its value increased by X% to $X. The market value increased at an average annual rate of X% from 2012 to 2023; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. Steel spring consumption peaked at $X in 2020; however, from 2021 to 2023, consumption stood at a somewhat lower figure.
Steel Spring Production in Saudi Arabia
In value terms, steel spring production fell slightly to $X in 2023 estimated in export price. Overall, production, however, showed a noticeable expansion. The growth pace was the most rapid in 2016 when the production volume increased by X%. Steel spring production peaked at $X in 2020; however, from 2021 to 2023, production remained at a lower figure.
Steel Spring Exports
Exports from Saudi Arabia
In 2023, approx. X tons of steel springs and leaves for springs were exported from Saudi Arabia; growing by X% compared with the previous year. Overall, exports, however, continue to indicate a abrupt setback. The growth pace was the most rapid in 2016 when exports increased by X% against the previous year. Over the period under review, the exports hit record highs at X tons in 2017; however, from 2018 to 2023, the exports failed to regain momentum.
In value terms, steel spring exports skyrocketed to $X in 2023. Over the period under review, exports, however, continue to indicate a abrupt contraction. The most prominent rate of growth was recorded in 2017 when exports increased by X% against the previous year. As a result, the exports attained the peak of $X. From 2018 to 2023, the growth of the exports remained at a somewhat lower figure.
Exports by Country
Malaysia (X tons) was the main destination for steel spring exports from Saudi Arabia, accounting for a X% share of total exports. Moreover, steel spring exports to Malaysia exceeded the volume sent to the second major destination, Canada (X tons), threefold. The third position in this ranking was held by Germany (X tons), with a X% share.
From 2012 to 2023, the average annual rate of growth in terms of volume to Malaysia was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Canada (X% per year) and Germany (X% per year).
In value terms, Canada ($X), Germany ($X) and Malaysia ($X) appeared to be the largest markets for steel spring exported from Saudi Arabia worldwide, with a combined X% share of total exports.
Germany, 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 steel spring export price stood at $X per ton in 2023, falling by X% against the previous year. Overall, the export price saw a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of X% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2014; however, from 2015 to 2023, the export prices remained at a lower figure.
There were significant differences in the average prices for the major external markets. In 2023, amid the top suppliers, the country with the highest price was Canada ($X per ton), while the average price for exports to Egypt ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was recorded for supplies to Pakistan (X%), while the prices for the other major destinations experienced more modest paces of growth.
Steel Spring Imports
Imports into Saudi Arabia
In 2023, supplies from abroad of steel springs and leaves for springs decreased by X% to X tons, falling for the third consecutive year after two years of growth. Overall, imports saw a deep setback. The most prominent rate of growth was recorded in 2019 when imports increased by X%. Over the period under review, imports attained the peak figure at X tons in 2015; however, from 2016 to 2023, imports remained at a lower figure.
In value terms, steel spring imports amounted to $X in 2023. Over the period under review, imports saw a abrupt shrinkage. The growth pace was the most rapid in 2019 when imports increased by X% against the previous year. Imports peaked at $X in 2014; however, from 2015 to 2023, imports failed to regain momentum.
Imports by Country
China (X tons), the United Arab Emirates (X tons) and Germany (X tons) were the main suppliers of steel spring imports to Saudi Arabia, with a combined X% share of total imports. India, Australia, the United States and Sweden lagged somewhat behind, together accounting for a further X%.
From 2012 to 2023, the biggest increases were recorded for Australia (with a CAGR of X%), while purchases for the other leaders experienced a decline.
In value terms, the largest steel spring suppliers to Saudi Arabia were China ($X), Germany ($X) and the United Arab Emirates ($X), together comprising X% of total imports. The United States, India, Australia and Sweden lagged somewhat behind, together accounting for a further X%.
Australia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
Import Prices by Country
In 2023, the average steel spring import price amounted to $X per ton, approximately equating the previous year. Overall, the import price showed a mild increase. The most prominent rate of growth was recorded in 2018 when the average import price increased by X% against the previous year. As a result, import price attained the peak level of $X per ton. From 2019 to 2023, the average import prices remained at a lower figure.
Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per ton), while the price for the United Arab Emirates ($X per ton) was amongst the lowest.
From 2012 to 2023, the most notable rate of growth in terms of prices was attained by Sweden (X%), while the prices for the other major suppliers experienced more modest paces of growth.
Source: IndexBox Platform
This report provides an in-depth analysis of the steel spring market in Saudi Arabia. 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.
Product coverage:
- Prodcom 25931613 - Iron or steel hot-worked laminated leaf-springs and leaves therefor
- Prodcom 25931615 - Iron or steel hot-worked non-laminated leaf-springs and leaves therefor
- Prodcom 25931617 - Iron or steel cold-formed leaf-springs and leaves therefor
- Prodcom 25931631 - Iron or steel hot-worked helical springs
- Prodcom 25931633 - Iron or steel cold-formed helical coil compression springs
- Prodcom 25931635 - Iron or steel cold-formed helical coil tension springs
- Prodcom 25931637 - Iron or steel cold-formed helical springs (excluding helical coil compression springs, helical coil tension springs)
- Prodcom 25931653 - Iron or steel flat spiral springs
- Prodcom 25931655 - Iron or steel discs springs
- Prodcom 25931660 - Iron or steel springs (excluding leaf-springs and leaves therefor, helical springs, flat spiral springs, discs springs)
Country coverage:
- Saudi Arabia
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Saudi Arabia
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
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:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
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.
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1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
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2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDS This Chapter is Available Only for the Professional Edition PRO
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3. MARKET OVERVIEW
Understanding the Current State of The Market and Its Prospects
- MARKET SIZE
- MARKET STRUCTURE
- TRADE BALANCE
- PER CAPITA CONSUMPTION
- MARKET FORECAST TO 2030
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4. MOST PROMISING PRODUCT
Finding New Products to Diversify Your Business
This Chapter is Available Only for the Professional Edition PRO- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCT
- MOST TRADED PRODUCT
- MOST PROFITABLE PRODUCT FOR EXPORT
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5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
This Chapter is Available Only for the Professional Edition PRO- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
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6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Exports
This Chapter is Available Only for the Professional Edition PRO- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS FROM 2012–2023
- IMPORTS BY COUNTRY
- IMPORT PRICES BY COUNTRY
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS FROM 2012–2023
- EXPORTS BY COUNTRY
- EXPORT PRICES BY COUNTRY
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10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
This Chapter is Available Only for the Professional Edition PRO -
LIST OF TABLES
- Key Findings In 2023
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Per Capita Consumption In 2012-2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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LIST OF FIGURES
- Market Volume, In Physical Terms, 2012–2023
- Market Value, 2012–2023
- Market Structure – Domestic Supply vs. Imports, In Physical Terms, 2012-2023
- Market Structure – Domestic Supply vs. Imports, In Value Terms, 2012-2023
- Trade Balance, In Physical Terms, 2012-2023
- Trade Balance, In Value Terms, 2012-2023
- Per Capita Consumption, 2012-2023
- Market Volume Forecast to 2030
- Market Value Forecast to 2030
- Products: Market Size And Growth, By Type
- Products: Average Per Capita Consumption, By Type
- Products: Exports And Growth, By Type
- Products: Export Prices And Growth, By Type
- Production Volume And Growth
- Exports And Growth
- Export Prices And Growth
- Market Size And Growth
- Per Capita Consumption
- Imports And Growth
- Import Prices
- Production, In Physical Terms, 2012–2023
- Production, In Value Terms, 2012–2023
- Imports, In Physical Terms, 2012–2023
- Imports, In Value Terms, 2012–2023
- Imports, In Physical Terms, By Country, 2023
- Imports, In Physical Terms, By Country, 2012–2023
- Imports, In Value Terms, By Country, 2012–2023
- Import Prices, By Country Of Origin, 2012–2023
- Exports, In Physical Terms, 2012–2023
- Exports, In Value Terms, 2012–2023
- Exports, In Physical Terms, By Country, 2023
- Exports, In Physical Terms, By Country, 2012–2023
- Exports, In Value Terms, By Country, 2012–2023
- Export Prices, By Country Of Destination, 2012–2023
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