Middle East: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2024

Exports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Exports in the Middle East

In 2022, shipments abroad of fork-lift trucks and other industrial works trucks and tractors decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. In general, exports, however, continue to indicate significant growth. The growth pace was the most rapid in 2021 with an increase of X%. As a result, the exports attained the peak of X units, and then shrank significantly in the following year.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors expanded markedly to $X in 2022. Total exports indicated a buoyant increase 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, exports increased by X% against 2019 indices. The pace of growth was the most pronounced in 2017 when exports increased by X% against the previous year. Over the period under review, the exports of attained the peak figure in 2022 and are likely to continue growth in years to come.

Exports by Country

The United Arab Emirates represented the major exporting country with an export of about X units, which finished at X% of total exports. Turkey (X units) took the second position in the ranking, distantly followed by Saudi Arabia (X units) and Kuwait (X units). All these countries together took near X% share of total exports. The following exporters - Qatar (X units) and Oman (X units) - together made up X% of total exports.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by the United Arab Emirates (with a CAGR of X%), while the other leaders experienced more modest paces of growth.

In value terms, Turkey ($X) remains the largest forklift truck and industrial works truck supplier in the Middle East, comprising X% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a X% share of total exports. It was followed by Saudi Arabia, with a X% share.

From 2012 to 2022, the average annual rate of growth in terms of value in Turkey totaled X%. 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

In 2022, the export price in the Middle East amounted to $X per unit, with an increase of X% against the previous year. Over the period under review, the export price, however, showed a deep contraction. The level of export peaked at $X per unit in 2013; however, from 2014 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 Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

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

Imports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Imports in the Middle East

In 2022, purchases abroad of fork-lift trucks and other industrial works trucks and tractors decreased by X% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, imports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 when imports increased by X% against the previous year. As a result, imports attained the peak of X units, and then reduced dramatically in the following year.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors reduced to $X in 2022. Over the period under review, imports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2020 with an increase of 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

In 2022, Israel (X units) was the key importer of fork-lift trucks and other industrial works trucks and tractors, comprising X% of total imports. Turkey (X units) took an X% share (based on physical terms) of total imports, which put it in second place, followed by the United Arab Emirates (X%) and Saudi Arabia (X%). Iraq (X units), Oman (X units), Qatar (X units), Kuwait (X units), Iran (X units), Jordan (X units) and Bahrain (X units) took a minor share of total imports.

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

In value terms, the largest forklift truck and industrial works truck importing markets in the Middle East were Turkey ($X), Israel ($X) and the United Arab Emirates ($X), with a combined X% share of total imports.

Israel, with a CAGR of X%, saw the highest growth rate of the value of imports, among the main importing countries 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 the Middle East amounted to $X per unit, with an increase of X% against the previous year. Overall, the import price, however, continues to indicate a abrupt slump. The most prominent rate of growth was recorded in 2018 when the import price increased by X% against the previous year. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the 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 Qatar ($X per unit), while Jordan ($X per unit) was amongst the lowest.

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

Source: IndexBox Platform

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