GCC: Market for Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type 2024

Market Size for Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type in GCC

The GCC market for elevators and conveyors other than pneumatic, belt- or bucket-type reduced markedly to $X in 2022, shrinking by X% against the previous year. Overall, consumption posted a buoyant increase. Over the period under review, the market hit record highs at $X in 2021, and then reduced sharply in the following year.

Production of Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type in GCC

In value terms, production of elevators and conveyors other than pneumatic, belt- or bucket-type declined to $X in 2022 estimated in export price. Over the period under review, production continues to indicate prominent growth. The pace of growth appeared the most rapid in 2015 when the production volume increased by X% against the previous year. Over the period under review, production of hit record highs at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Exports of Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type

Exports in GCC

In 2022, approx. X units of elevators and conveyors other than pneumatic, belt- or bucket-type were exported in GCC; rising by X% on the year before. In general, exports, however, saw a pronounced slump. The most prominent rate of growth was recorded in 2016 when exports increased by X% against the previous year. As a result, the exports reached the peak of X units. From 2017 to 2022, the growth of the exports of remained at a somewhat lower figure.

In value terms, exports of elevators and conveyors other than pneumatic, belt- or bucket-type fell to $X in 2022. Overall, exports, however, saw a mild decrease. The most prominent rate of growth was recorded in 2017 with an increase of X% against the previous year. As a result, the exports reached the peak of $X. From 2018 to 2022, the growth of the exports of failed to regain momentum.

Exports by Country

The United Arab Emirates dominates bucket-type structure, accounting for X units, which was approx. X% of total exports in 2022. The following exporters - Saudi Arabia (X units) and Bahrain (X units) - each accounted for an X% share of total exports.

Exports from the United Arab Emirates decreased at an average annual rate of X% from 2012 to 2022. At the same time, Bahrain (X%) and Saudi Arabia (X%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in GCC, with a CAGR of X% from 2012-2022. While the share of Bahrain (X p.p.) and Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) remains the largest elevators and conveyors other than pneumatic, belt- or bucket-type supplier in GCC, comprising X% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a X% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates amounted to X%. In the other countries, the average annual rates were as follows: Saudi Arabia (X% per year) and Bahrain (X% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, shrinking by X% against the previous year. Overall, the export price, however, continues to indicate modest growth. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. The level of export peaked at $X per unit in 2021, and then contracted markedly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Bahrain ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

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

Imports of Elevators and Conveyors other than Pneumatic, Belt- or Bucket-Type

Imports in GCC

In 2022, purchases abroad of elevators and conveyors other than pneumatic, belt- or bucket-type increased by X% to X units, rising for the second consecutive year after two years of decline. Overall, imports saw a remarkable increase. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, imports of elevators and conveyors other than pneumatic, belt- or bucket-type surged to $X in 2022. In general, imports, however, recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

Qatar (X units) and Bahrain (X units) were the largest importers of elevators and conveyors other than pneumatic, belt- or bucket-type in 2022, finishing at near X% and X% of total imports, respectively. The United Arab Emirates (X units) took the next position in the ranking, followed by Kuwait (X units) and Oman (X units). All these countries together held near X% share of total imports.

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

In value terms, the largest elevators and conveyors other than pneumatic, belt- or bucket-type importing markets in GCC were the United Arab Emirates ($X), Kuwait ($X) and Qatar ($X), with a combined X% share of total imports.

In terms of the main importing countries, Qatar, 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 import price in GCC stood at $X per unit in 2022, waning by X% against the previous year. Over the period under review, the import price saw a deep setback. The pace of growth was the most pronounced in 2020 when the import price increased by X% against the previous year. Over the period under review, import prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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

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

Source: IndexBox Platform

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