Middle East: Crane Market 2024

Crane Market Size in the Middle East

The Middle Eastern crane market reduced to $X in 2022, waning by X% against the previous year. Overall, consumption, however, recorded resilient growth. Over the period under review, the market reached the peak level at $X in 2019; however, from 2020 to 2022, consumption remained at a lower figure.

Crane Production in the Middle East

In value terms, crane production shrank to $X in 2022 estimated in export price. Over the period under review, production, however, saw buoyant growth. The most prominent rate of growth was recorded 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 remained at a lower figure.

Crane Exports

Exports in the Middle East

In 2022, the amount of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exported in the Middle East skyrocketed to X units, increasing by X% on 2021. Overall, exports showed a strong expansion. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, crane exports soared to $X in 2022. Over the period under review, exports saw a noticeable expansion. 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 was the main exporter of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in the Middle East, with the volume of exports accounting for X units, which was approx. X% of total exports in 2022. Kuwait (X units) held the second position in the ranking, distantly followed by Turkey (X units), Qatar (X units) and Saudi Arabia (X units). All these countries together held approx. X% share of total exports. The following exporters - Oman (X units) and Bahrain (X units) - together made up X% of total exports.

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

In value terms, the largest crane supplying countries in the Middle East were the United Arab Emirates ($X), Kuwait ($X) and Turkey ($X), with a combined X% share of total exports. Saudi Arabia, Oman, Qatar and Bahrain lagged somewhat behind, together accounting for a further X%.

Saudi Arabia, with a CAGR of X%, recorded the highest rates of growth with regard to the value of exports, among the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, falling by X% against the previous year. Overall, the export price saw a pronounced setback. The growth pace was the most rapid in 2018 when the export price increased by X%. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Qatar ($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 the Middle East

In 2022, overseas purchases of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2021 with an increase of X%. Over the period under review, imports attained the maximum at X units in 2012; however, from 2013 to 2022, imports failed to regain momentum.

In value terms, crane imports rose notably to $X in 2022. In general, imports recorded a noticeable setback. The pace of growth appeared the most rapid in 2013 when imports increased by X%. The level of import peaked at $X in 2014; however, from 2015 to 2022, imports stood at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units), Qatar (X units) and Israel (X units) represented the main importer of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in the Middle East, achieving X% of total import. Turkey (X units) took a X% share (based on physical terms) of total imports, which put it in second place, followed by Oman (X%), Iraq (X%) and Kuwait (X%).

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Israel (with a CAGR of X%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), the United Arab Emirates ($X) and Turkey ($X) constituted the countries with the highest levels of imports in 2022, with a combined X% share of total imports.

Israel, with a CAGR of X%, recorded the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced mixed trends in the imports figures.

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, jumping by X% against the previous year. Import price indicated a mild increase from 2012 to 2022: its price 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, crane import price decreased by X% against 2020 indices. The most prominent rate of growth was recorded in 2013 when the import price increased by X%. As a result, import price attained the peak level of $X per unit. From 2014 to 2022, the import prices remained at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Turkey ($X per unit), while Qatar ($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 more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :