GCC: Crane Market 2024

Crane Market Size in GCC

The GCC crane market reduced to $X in 2022, shrinking by X% against the previous year. Overall, consumption, however, posted buoyant growth. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Crane Production in GCC

In value terms, crane production declined modestly to $X in 2022 estimated in export price. Overall, production showed buoyant growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Crane Exports

Exports in GCC

In 2022, exports of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in GCC soared to X units, with an increase of X% compared with 2021. In general, exports continue to indicate resilient growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, crane exports skyrocketed to $X in 2022. Over the period under review, exports recorded a remarkable increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

Exports by Country

The United Arab Emirates represented the largest exporter of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in GCC, with the volume of exports accounting for X units, which was approx. X% of total exports in 2022. It was distantly followed by Kuwait (X units), Qatar (X units), Saudi Arabia (X units) and Oman (X units), together creating a X% share of total exports. Bahrain (X units) took a minor share of total exports.

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

In value terms, the largest crane supplying countries in GCC were the United Arab Emirates ($X), Kuwait ($X) and Saudi Arabia ($X), together comprising X% of total exports.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of X%, recorded 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 GCC amounted to $X per unit, with a decrease of X% against the previous year. In general, the export price recorded a noticeable slump. The growth pace was the most rapid in 2016 when the export price increased by X%. The level of export peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices remained at a lower figure.

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 Bahrain ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (X%), while the other leaders experienced a decline in the export price figures.

Crane Imports

Imports in GCC

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported in GCC; which is down by X% compared with 2021 figures. In general, imports showed a abrupt setback. The pace of growth was the most pronounced in 2021 with an increase of X% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

In value terms, crane imports expanded notably to $X in 2022. Overall, imports saw a abrupt contraction. The pace of growth was the most pronounced in 2013 with an increase of X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units) and Qatar (X units) represented roughly X% of total imports in 2022. It was distantly followed by Oman (X units) and Kuwait (X units), together committing a X% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Oman (with a CAGR of X%), while imports for the other leaders experienced a decline in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in GCC, comprising X% of total imports. The second position in the ranking was taken by Oman ($X), with a X% share of total imports. It was followed by Kuwait, with a X% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates amounted to X%. The remaining importing countries recorded the following average annual rates of imports growth: Oman (X% per year) and Kuwait (X% per year).

Import Prices by Country

The import price in GCC stood at $X per unit in 2022, growing by X% against the previous year. Overall, the import price enjoyed a mild expansion. The pace of growth appeared the most rapid in 2013 an increase of X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2014 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Oman ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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