GCC: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2025

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

Exports in GCC

In 2022, overseas shipments of fork-lift trucks and other industrial works trucks and tractors decreased by -36.2% to X units for the first time since 2019, thus ending a two-year rising trend. Overall, exports, however, posted a significant increase. The most prominent rate of growth was recorded in 2021 with an increase of 304% against the previous year. As a result, the exports attained the peak of X units, and then declined dramatically 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. The total export value increased at an average annual rate of +2.5% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2020 with an increase of 42%. Over the period under review, the exports of attained the maximum at $X in 2017; however, from 2018 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates prevails in tractors structure, resulting at X units, which was approx. 77% of total exports in 2022. Saudi Arabia (X units) ranks second in terms of the total exports with a 7.8% share, followed by Kuwait (7%) and Qatar (5.1%). Oman (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the fork-lift trucks and other industrial works trucks and tractors exports, with a CAGR of +33.7% from 2012 to 2022. At the same time, Kuwait (+26.1%), Saudi Arabia (+16.7%), Qatar (+14.5%) and Oman (+9.6%) displayed positive paces of growth. While the share of the United Arab Emirates (+30 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of Oman (-8.9 p.p.), Qatar (-9.5 p.p.) and Saudi Arabia (-10.7 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest forklift truck and industrial works truck supplying countries in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X), with a combined 73% share of total exports.

Among the main exporting countries, Kuwait, with a CAGR of +5.6%, recorded the highest growth rate of the value of exports, 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 GCC stood at $X per unit in 2022, growing by 71% against the previous year. Over the period under review, the export price, however, recorded a deep setback. The level of export peaked at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a 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 Oman (-8.6%), 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 GCC

In 2022, purchases abroad of fork-lift trucks and other industrial works trucks and tractors decreased by -28.5% to X units for the first time since 2018, thus ending a three-year rising trend. Overall, imports, however, showed a resilient increase. The pace of growth was the most pronounced in 2021 when imports increased by 204%. As a result, imports attained the peak of X units, and then shrank significantly in the following year.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors rose rapidly to $X in 2022. Over the period under review, imports saw a perceptible setback. The pace of growth was the most pronounced in 2014 with an increase of 17% against the previous year. Over the period under review, imports of reached the maximum at $X in 2015; however, from 2016 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units) and Saudi Arabia (X units) prevails in tractors structure, together making up 74% of total imports. Oman (X units) ranks next in terms of the total imports with an 8.6% share, followed by Qatar (7.4%) and Kuwait (5.8%). Bahrain (X units) held a minor share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Bahrain (with a CAGR of +16.6%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest forklift truck and industrial works truck importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), with a combined 81% share of total imports.

Qatar, with a CAGR of +6.5%, 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 GCC amounted to $X per unit, increasing by 48% against the previous year. In general, the import price, however, continues to indicate a abrupt descent. The growth pace was the most rapid in 2018 an increase of 84%. As a result, import price reached the peak level of $X per unit. From 2019 to 2022, the import prices remained at a somewhat 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 Qatar ($X per unit), while Bahrain ($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 (-1.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform