GCC: Electromagnetic Lifting Head Market 2025

Electromagnetic Lifting Head Market Size in GCC

The GCC electromagnetic lifting head market fell to $X in 2022, waning by -10.7% against the previous year. Over the period under review, consumption continues to indicate a pronounced decline. The level of consumption peaked at $X in 2019; however, from 2020 to 2022, consumption failed to regain momentum.

Electromagnetic Lifting Head Production in GCC

In value terms, electromagnetic lifting head production fell to $X in 2022 estimated in export price. In general, production saw a perceptible decrease. The pace of growth appeared the most rapid in 2021 when the production volume increased by 22%. Over the period under review, production reached the peak level at $X in 2013; however, from 2014 to 2022, production stood at a somewhat lower figure.

Electromagnetic Lifting Head Exports

Exports in GCC

In 2022, exports of electromagnets and electromagnetic lifting heads in GCC dropped sharply to X tons, which is down by -22.4% compared with the previous year's figure. Overall, exports, however, saw a resilient increase. The most prominent rate of growth was recorded in 2013 with an increase of 279% against the previous year. As a result, the exports attained the peak of X tons. From 2014 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, electromagnetic lifting head exports fell dramatically to $X in 2022. In general, exports, however, saw a resilient expansion. The most prominent rate of growth was recorded in 2021 with an increase of 98% against the previous year. As a result, the exports attained the peak of $X, and then contracted significantly in the following year.

Exports by Country

In 2022, the United Arab Emirates (X tons) represented the major exporter of electromagnets and electromagnetic lifting heads, constituting 56% of total exports. Oman (X tons) held the second position in the ranking, distantly followed by Saudi Arabia (X tons). All these countries together held approx. 41% share 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 Oman (with a CAGR of +24.2%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest electromagnetic lifting head supplier in GCC, comprising 63% of total exports. The second position in the ranking was taken by Oman ($X), with a 25% share of total exports.

From 2012 to 2022, the average annual rate of growth in terms of value in the United Arab Emirates stood at +9.7%. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+23.4% per year) and Saudi Arabia (+6.1% per year).

Export Prices by Country

In 2022, the export price in GCC amounted to $X per ton, which is down by -2.5% against the previous year. Export price indicated mild growth from 2012 to 2022: its price increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, electromagnetic lifting head export price increased by +63.6% against 2016 indices. The most prominent rate of growth was recorded in 2014 when the export price increased by 83%. The level of export peaked at $X per ton in 2021, and then reduced slightly in the following year.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per ton), while Oman ($X per ton) 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 (+3.8%), while the other leaders experienced a decline in the export price figures.

Electromagnetic Lifting Head Imports

Imports in GCC

Electromagnetic lifting head imports dropped markedly to X tons in 2022, with a decrease of -39.6% against the year before. Total imports indicated a slight expansion from 2012 to 2022: its volume increased at an average annual rate of +1.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -43.1% against 2019 indices. The growth pace was the most rapid in 2019 with an increase of 48%. As a result, imports reached the peak of X tons. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, electromagnetic lifting head imports declined dramatically to $X in 2022. In general, imports, however, saw a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when imports increased by 46%. The level of import peaked at $X in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates prevails in imports structure, finishing at X tons, which was near 75% of total imports in 2022. Oman (X tons) took a 9.7% share (based on physical terms) of total imports, which put it in second place, followed by Qatar (6.6%) and Kuwait (4.8%). Bahrain (X tons) followed a long way behind the leaders.

Imports into the United Arab Emirates increased at an average annual rate of +6.0% from 2012 to 2022. At the same time, Oman (+10.8%) and Kuwait (+1.1%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing importer imported in GCC, with a CAGR of +10.8% from 2012-2022. Bahrain experienced a relatively flat trend pattern. By contrast, Qatar (-7.7%) illustrated a downward trend over the same period. The United Arab Emirates (+28 p.p.) and Oman (+5.8 p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by -10% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported electromagnets and electromagnetic lifting heads in GCC, comprising 72% of total imports. The second position in the ranking was held by Qatar ($X), with a 9.4% share of total imports. It was followed by Kuwait, with an 8.2% share.

In the United Arab Emirates, electromagnetic lifting head imports increased at an average annual rate of +1.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Qatar (+2.7% per year) and Kuwait (+3.7% per year).

Import Prices by Country

The import price in GCC stood at $X per ton in 2022, with an increase of 18% against the previous year. In general, the import price, however, showed a slight contraction. The pace of growth appeared the most rapid in 2015 an increase of 21%. As a result, import price attained the peak level of $X per ton. From 2016 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Kuwait ($X per ton), while Oman ($X per ton) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+11.3%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform