MENA: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in MENA

In 2022, after two years of decline, there was significant growth in the MENA's underground continuous-action elevator market, when its value increased by X% to $X.9B. Overall, consumption, however, saw a relatively flat trend pattern. Over the period under review, the market attained the maximum level at $X.8B in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Underground Continuous-Action Elevator Production in MENA

In value terms, underground continuous-action elevator production dropped to $X.7B in 2022 estimated in export price. Over the period under review, production, however, showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of X%. Over the period under review, production attained the peak level at $X.4B in 2019; however, from 2020 to 2022, production failed to regain momentum.

Underground Continuous-Action Elevator Exports

Exports in MENA

In 2022, exports of underground continuous-action elevators and conveyors in MENA skyrocketed to X units, surging by X% compared with 2021. In general, exports continue to indicate strong growth. The most prominent rate of growth was recorded in 2013 with an increase of X% against the previous year. As a result, the exports attained the peak of X units. From 2014 to 2022, the growth of the exports remained at a lower figure.

In value terms, underground continuous-action elevator exports soared to $X in 2022. Over the period under review, exports showed a resilient increase. The pace of growth was the most pronounced in 2019 with an increase of X% against the previous year. As a result, the exports attained the peak of $X. From 2020 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

Turkey represented the major exporting country with an export of around X units, which accounted for X% of total exports. It was distantly followed by the United Arab Emirates (X units), committing a X% share of total exports.

Turkey was also the fastest-growing in terms of the underground continuous-action elevators and conveyors exports, with a CAGR of X% from 2012 to 2022. The United Arab Emirates (X%) illustrated a downward trend over the same period. Turkey (X p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by X% from 2012 to 2022, respectively.

In value terms, Turkey ($X) emerged as the largest underground continuous-action elevator supplier in MENA, comprising X% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a X% share of total exports.

In Turkey, underground continuous-action elevator exports increased at an average annual rate of X% over the period from 2012-2022.

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, picking up by X% against the previous year. In general, the export price showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2015 when the export price increased by X% against the previous year. The level of export peaked at $X per unit in 2019; however, from 2020 to 2022, the export prices stood at a somewhat 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 Turkey ($X per unit), while the United Arab Emirates totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (X%).

Underground Continuous-Action Elevator Imports

Imports in MENA

After two years of growth, supplies from abroad of underground continuous-action elevators and conveyors decreased by X% to X units in 2022. In general, imports saw a deep downturn. The most prominent rate of growth was recorded in 2021 with an increase of X%. The volume of import peaked at X units in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

In value terms, underground continuous-action elevator imports soared to $X in 2022. Over the period under review, imports continue to indicate a deep slump. The growth pace was the most rapid in 2017 with an increase of X% against the previous year. The level of import peaked at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

Turkey was the main importing country with an import of around X units, which amounted to X% of total imports. Qatar (X units) ranks second in terms of the total imports with a X% share, followed by Israel (X%). Algeria (X units), Iran (X units), Oman (X units) and Morocco (X units) held a relatively small share of total imports.

From 2012 to 2022, average annual rates of growth with regard to underground continuous-action elevator imports into Turkey stood at X%. At the same time, Morocco (X%), Oman (X%) and Iran (X%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing importer imported in MENA, with a CAGR of X% from 2012-2022. Algeria experienced a relatively flat trend pattern. By contrast, Israel (X%) and Qatar (X%) illustrated a downward trend over the same period. Turkey (X p.p.), Morocco (X p.p.), Algeria (X p.p.) and Oman (X p.p.) significantly strengthened its position in terms of the total imports, while Israel and Qatar saw its share reduced by X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) constitutes the largest market for imported underground continuous-action elevators and conveyors in MENA, comprising X% of total imports. The second position in the ranking was taken by Morocco ($X), with a X% share of total imports. It was followed by Algeria, with a X% share.

In Turkey, underground continuous-action elevator imports plunged by an average annual rate of X% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Morocco (X% per year) and Algeria (X% per year).

Import Prices by Country

In 2022, the import price in MENA amounted to $X per unit, increasing by X% against the previous year. Overall, the import price, however, saw a perceptible reduction. Over the period under review, import prices hit record highs at $X per unit in 2020; however, from 2021 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Morocco (X%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

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