GCC: Crane Market 2025

Crane Market Size in GCC

For the third consecutive year, the GCC crane market recorded decline in sales value, which decreased by -0.1% to $X in 2022. In general, consumption, however, recorded a abrupt contraction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a lower figure.

Crane Production in GCC

In value terms, crane production rose modestly to $X in 2022 estimated in export price. The total production indicated a notable expansion from 2012 to 2022: its value increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +7.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 when the production volume increased by 51%. Over the period under review, production attained the peak level at $X in 2017; however, from 2018 to 2022, production failed to regain momentum.

Crane Exports

Exports in GCC

In 2022, crane exports in GCC expanded significantly to X units, growing by 5.9% compared with the year before. In general, exports, however, showed a perceptible descent. The most prominent rate of growth was recorded in 2015 with an increase of 83% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

In value terms, crane exports totaled $X in 2022. Overall, exports, however, showed a abrupt setback. The growth pace was the most rapid in 2015 with an increase of 57% against the previous year. The level of export peaked at $X in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X units) and the United Arab Emirates (X units) prevails in exports structure, together generating 96% of total exports. Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for Kuwait (with a CAGR of +7.9%), while shipments for the other leaders experienced a decline in the exports figures.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) were the countries with the highest levels of exports in 2022, with a combined 97% share of total exports.

In terms of the main exporting countries, Kuwait, with a CAGR of +10.8%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced a decline in the exports figures.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, falling by -3.5% against the previous year. In general, the export price showed a noticeable setback. The pace of growth appeared the most rapid in 2019 when the export price increased by 22% against the previous year. Over the period under review, the export prices reached the maximum at $X per unit in 2012; however, from 2013 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 Kuwait ($X per unit), while Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+2.6%), while the other leaders experienced a decline in the export price figures.

Crane Imports

Imports in GCC

In 2022, purchases abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane decreased by -1.1% to X units, falling for the seventh consecutive year after two years of growth. Overall, imports recorded a abrupt curtailment. The pace of growth appeared the most rapid in 2015 with an increase of 29%. As a result, imports attained the peak of X units. From 2016 to 2022, the growth of imports remained at a lower figure.

In value terms, crane imports expanded to $X in 2022. Over the period under review, imports continue to indicate a abrupt downturn. The pace of growth was the most pronounced in 2014 when imports increased by 12%. As a result, imports reached the peak of $X. From 2015 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) represented the key importer of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, generating 60% of total imports. Oman (X units) ranks second in terms of the total imports with an 18% share, followed by Kuwait (10%) and Qatar (9.2%). Bahrain (X units) took a little share of total imports.

From 2012 to 2022, average annual rates of growth with regard to crane imports into the United Arab Emirates stood at -3.9%. At the same time, Bahrain (+1.6%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +1.6% from 2012-2022. By contrast, Oman (-2.7%), Kuwait (-7.8%) and Qatar (-20.3%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+20 p.p.), Oman (+7.3 p.p.) and Bahrain (+2.3 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-30 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane in GCC, comprising 41% of total imports. The second position in the ranking was taken by Oman ($X), with a 10% share of total imports. It was followed by Kuwait, with an 8% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at -7.0%. In the other countries, the average annual rates were as follows: Oman (-3.9% per year) and Kuwait (-7.9% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, picking up by 3.2% against the previous year. In general, the import price, however, continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2013 an increase of 53%. 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.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+15.4%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform