GCC: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in GCC

The GCC jacks and hoists market reduced modestly to $X in 2022, remaining stable against the previous year. The total consumption indicated slight growth from 2012 to 2022: its value 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, consumption increased by X% against 2020 indices. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Jacks And Hoists Production in GCC

In value terms, jacks and hoists production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2017 with an increase of X%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Jacks And Hoists Exports

Exports in GCC

In 2022, overseas shipments of jacks and hoists for raising vehicles increased by X% to X units, rising for the second consecutive year after four years of decline. Overall, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2015 when exports increased by X%. The volume of export peaked at X units in 2016; however, from 2017 to 2022, the exports failed to regain momentum.

In value terms, jacks and hoists exports skyrocketed to $X in 2022. Over the period under review, exports posted a strong expansion. The pace of growth appeared the most rapid in 2015 when exports increased by X% against the previous year. Over the period under review, the exports attained the peak figure in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Kuwait represented the key exporting country with an export of around X units, which resulted at X% of total exports. The United Arab Emirates (X units) ranks second in terms of the total exports with a X% share, followed by Saudi Arabia (X%).

Kuwait was also the fastest-growing in terms of the jacks and hoists for raising vehicles exports, with a CAGR of X% from 2012 to 2022. At the same time, the United Arab Emirates (X%) displayed positive paces of growth. By contrast, Saudi Arabia (X%) illustrated a downward trend over the same period. Kuwait (X p.p.) and the United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Saudi Arabia saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, the United Arab Emirates ($X), Kuwait ($X) and Saudi Arabia ($X) constituted the countries with the highest levels of exports in 2022, with a combined X% share of total exports.

Among the main exporting countries, Kuwait, 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 mixed trends in the exports figures.

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, waning by X% against the previous year. In general, the export price showed a perceptible downturn. The most prominent rate of growth was recorded in 2017 when the export price increased by X%. Over the period under review, the export prices hit record highs at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat lower figure.

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

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

Jacks And Hoists Imports

Imports in GCC

In 2022, overseas purchases of jacks and hoists for raising vehicles increased by X% to X units, rising for the second consecutive year after two years of decline. Over the period under review, imports showed a remarkable increase. The pace of growth appeared the most rapid in 2021 with an increase of X%. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports remained at a lower figure.

In value terms, jacks and hoists imports declined sharply to $X in 2022. In general, imports, however, showed a abrupt shrinkage. The growth pace was the most rapid in 2017 when imports increased by X% against the previous year. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates was the largest importer of jacks and hoists for raising vehicles in GCC, with the volume of imports accounting for X units, which was near X% of total imports in 2022. Kuwait (X units) ranks second in terms of the total imports with a X% share, followed by Qatar (X%) and Oman (X%). Bahrain (X units) took a relatively small share of total imports.

The United Arab Emirates was also the fastest-growing in terms of the jacks and hoists for raising vehicles imports, with a CAGR of X% from 2012 to 2022. At the same time, Qatar (X%) displayed positive paces of growth. Oman experienced a relatively flat trend pattern. By contrast, Kuwait (X%) and Bahrain (X%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (X p.p.) and Qatar (X p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Oman (X p.p.), Bahrain (X p.p.) and Kuwait (X p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported jacks and hoists for raising vehicles in GCC, comprising X% of total imports. The second position in the ranking was held by Kuwait ($X), with a X% share of total imports. It was followed by Qatar, with an X% share.

In the United Arab Emirates, jacks and hoists imports remained relatively stable over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (X% per year) and Qatar (X% per year).

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 faced a abrupt contraction. The growth pace was the most rapid in 2019 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 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2022, major importing countries recorded the following prices: in Qatar ($X per unit) and Oman ($X per unit), while Bahrain ($X per unit) and Kuwait ($X per unit) were 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 mixed trends in the import price figures.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :