MENA: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in MENA

In 2022, the MENA's market for lifts, elevators, moving stairways and draglines decreased by X% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated tangible 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. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Lifts, Elevators, Moving Stairways and Draglines in MENA

In value terms, lift, elevator, stairway and dragline production fell to $X in 2022 estimated in export price. Over the period under review, production showed strong growth. The pace of growth was the most pronounced in 2014 with an increase of X%. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports in MENA

In 2022, the amount of lifts, elevators, moving stairways and draglines exported in MENA skyrocketed to X units, increasing by X% on 2021 figures. In general, exports recorded a prominent expansion. The pace of growth appeared the most rapid in 2020 when exports increased by X%. As a result, the exports attained the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, lift, elevator, stairway and dragline exports surged to $X in 2022. Over the period under review, exports saw a prominent expansion. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. The level of export peaked in 2022 and is likely to see steady growth in years to come.

Exports by Country

Turkey was the major exporter of lifts, elevators, moving stairways and draglines in MENA, with the volume of exports resulting at X units, which was near X% of total exports in 2022. Saudi Arabia (X units) took the second position in the ranking, distantly followed by the United Arab Emirates (X units). All these countries together held approx. X% share of total exports.

From 2012 to 2022, average annual rates of growth with regard to lift, elevator, stairway and dragline exports from Turkey stood at X%. At the same time, Saudi Arabia (X%) and the United Arab Emirates (X%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of X% from 2012-2022. While the share of Saudi Arabia (X p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Turkey (X p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest lift, elevator, stairway and dragline supplier in MENA, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, lift, elevator, stairway and dragline exports expanded at an average annual rate of X% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (X% per year) and Saudi Arabia (X% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, with a decrease of X% against the previous year. Overall, the export price showed a mild downturn. The growth pace was the most rapid in 2021 an increase of X%. The level of export peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices failed to regain momentum.

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 Turkey ($X per unit), while Saudi Arabia ($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 Lifts, Elevators, Moving Stairways and Draglines

Imports in MENA

Lift, elevator, stairway and dragline imports dropped to X units in 2022, with a decrease of X% against the previous year. In general, imports, however, saw a temperate expansion. The most prominent rate of growth was recorded in 2013 with an increase of X%. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2022, imports failed to regain momentum.

In value terms, lift, elevator, stairway and dragline imports declined to $X in 2022. Overall, imports continue to indicate a slight decrease. The most prominent rate of growth was recorded in 2013 when imports increased by X%. Over the period under review, imports reached the peak figure at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Qatar (X units), the United Arab Emirates (X units), Kuwait (X units), Bahrain (X units), Israel (X units), Turkey (X units) and Egypt (X units) represented roughly X% of total imports in 2022. Morocco (X units) took a relatively small share of total imports.

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

In value terms, the largest lift, elevator, stairway and dragline importing markets in MENA were Israel ($X), the United Arab Emirates ($X) and Turkey ($X), together comprising X% of total imports. Egypt, Qatar, Morocco, Kuwait and Bahrain lagged somewhat behind, together accounting for a further X%.

In terms of the main importing countries, Egypt, with a CAGR of X%, recorded the highest growth rate of 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

In 2022, the import price in MENA amounted to $X per unit, picking up by X% against the previous year. In general, the import price, however, continues to indicate a deep contraction. The growth pace was the most rapid in 2019 when the import price increased by X%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Egypt ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform