GCC: Mounting Lifting Equipment Market 2025

Mounting Lifting Equipment Market Size in GCC

The GCC mounting lifting equipment market amounted to $X in 2021, growing by 1.5% against the previous year. Over the period under review, consumption enjoyed prominent growth. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Mounting Lifting Equipment Production in GCC

In value terms, mounting lifting equipment production fell to $X in 2021 estimated in export price. Overall, production continues to indicate strong growth. The pace of growth appeared the most rapid in 2017 when the production volume increased by 161% against the previous year. Over the period under review, production reached the maximum level at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Mounting Lifting Equipment Exports

Exports in GCC

After three years of decline, shipments abroad of lifting equipment designed for mounting on road vehicles increased by 100% to X units in 2021. Overall, exports, however, showed a abrupt shrinkage. The most prominent rate of growth was recorded in 2017 with an increase of 333%. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports remained at a somewhat lower figure.

In value terms, mounting lifting equipment exports surged to $X in 2021. In general, exports, however, continue to indicate a abrupt slump. The pace of growth appeared the most rapid in 2017 when exports increased by 291%. Over the period under review, the exports hit record highs at $X in 2014; however, from 2015 to 2021, the exports remained at a lower figure.

Exports by Country

Bahrain was the main exporting country with an export of around X units, which recorded 76% of total exports. It was distantly followed by the United Arab Emirates (X units), constituting an 18% share of total exports. The following exporters - Saudi Arabia (X units) and Oman (X units) - together made up 5.1% of total exports.

Bahrain experienced a relatively flat trend pattern with regard to volume of exports of lifting equipment designed for mounting on road vehicles. At the same time, Saudi Arabia (+18.2%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in GCC, with a CAGR of +18.2% from 2012-2021. By contrast, the United Arab Emirates (-14.4%) and Oman (-21.2%) illustrated a downward trend over the same period. While the share of Bahrain (+28 p.p.) and Saudi Arabia (+3.1 p.p.) increased significantly in terms of the total exports from 2012-2021, the share of Oman (-6.4 p.p.) and the United Arab Emirates (-25 p.p.) displayed negative dynamics.

In value terms, the United Arab Emirates ($X), Bahrain ($X) and Oman ($X) appeared to be the countries with the highest levels of exports in 2021, together accounting for 92% of total exports. Saudi Arabia lagged somewhat behind, comprising a further 4%.

In terms of the main exporting countries, Saudi Arabia, with a CAGR of +15.6%, 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

The export price in GCC stood at $X per unit in 2021, which is down by -15.7% against the previous year. Overall, the export price, however, recorded a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 when the export price increased by 44% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2020, and then plummeted in the following year.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was Oman ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Oman (+13.3%), while the other leaders experienced mixed trends in the export price figures.

Mounting Lifting Equipment Imports

Imports in GCC

In 2021, overseas purchases of lifting equipment designed for mounting on road vehicles were finally on the rise to reach X units for the first time since 2018, thus ending a two-year declining trend. Overall, imports enjoyed a moderate increase. The most prominent rate of growth was recorded in 2013 with an increase of 112%. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports remained at a lower figure.

In value terms, mounting lifting equipment imports skyrocketed to $X in 2021. Over the period under review, imports, however, continue to indicate a deep setback. The level of import peaked at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

Qatar (X units) represented roughly 100% of total imports in 2021.

Qatar was also the fastest-growing in terms of the lifting equipment designed for mounting on road vehicles imports, with a CAGR of +4.6% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Qatar ($X) constitutes the largest market for imported lifting equipment designed for mounting on road vehicles in GCC.

From 2012 to 2021, the average annual growth rate of value in Qatar amounted to +1.6%.

Import Prices by Country

The import price in GCC stood at $X per unit in 2021, declining by -23.6% against the previous year. Over the period under review, the import price continues to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2019 when the import price increased by 253% against the previous year. Over the period under review, import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

As there is only one major supplying country, the average price level is determined by prices for Qatar.

From 2012 to 2021, the rate of growth in terms of prices for Qatar amounted to -2.9% per year.

Source: IndexBox Platform