GCC: Loading Machinery Market 2024

Loading Machinery Market Size in GCC

The GCC loading machinery market was estimated at $X in 2022, increasing by 4.9% against the previous year. Overall, consumption enjoyed a resilient expansion. Over the period under review, the market reached the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Loading Machinery Production in GCC

In value terms, loading machinery production totaled $X in 2022 estimated in export price. In general, production showed a prominent expansion. The most prominent rate of growth was recorded in 2013 with an increase of 47%. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Loading Machinery Exports

Exports in GCC

In 2022, exports of lifting, handling, loading or unloading machinery in GCC contracted dramatically to X units, declining by -20.4% against the previous year. Overall, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 102% against the previous year. The volume of export peaked at X units in 2013; however, from 2014 to 2022, the exports failed to regain momentum.

In value terms, loading machinery exports reduced notably to $X in 2022. In general, exports, however, enjoyed pronounced growth. The pace of growth was the most pronounced in 2021 with an increase of 106%. The level of export peaked at $X in 2019; however, from 2020 to 2022, the exports remained at a lower figure.

Exports by Country

In 2022, the United Arab Emirates (X units) represented the major exporter of lifting, handling, loading or unloading machinery, mixing up 60% of total exports. It was distantly followed by Kuwait (X units) and Saudi Arabia (X units), together constituting a 33% share of total exports. The following exporters - Bahrain (X units) and Oman (X units) - together made up 6.7% of total exports.

Exports from the United Arab Emirates increased at an average annual rate of +5.6% from 2012 to 2022. At the same time, Kuwait (+50.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +50.7% from 2012-2022. By contrast, Bahrain (-2.7%), Oman (-12.3%) and Saudi Arabia (-13.5%) illustrated a downward trend over the same period. The United Arab Emirates (+27 p.p.) and Kuwait (+20 p.p.) significantly strengthened its position in terms of the total exports, while Oman and Saudi Arabia saw its share reduced by -7.6% and -38.9% 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 ($X) remains the largest loading machinery supplier in GCC, comprising 71% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 14% share of total exports. It was followed by Kuwait, with an 8.4% share.

In the United Arab Emirates, loading machinery exports expanded at an average annual rate of +6.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (+1.1% per year) and Kuwait (+38.2% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, dropping by -6.7% against the previous year. Export price indicated a strong increase from 2012 to 2022: its price increased at an average annual rate of +5.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The pace of growth was the most pronounced in 2016 when the export price increased by 82%. As a result, the export price attained the peak level of $X per unit. From 2017 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 the United Arab Emirates ($X per unit), while Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+16.9%), while the other leaders experienced more modest paces of growth.

Loading Machinery Imports

Imports in GCC

In 2022, purchases abroad of lifting, handling, loading or unloading machinery was finally on the rise to reach X units for the first time since 2018, thus ending a three-year declining trend. The total import volume increased at an average annual rate of +3.0% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 when imports increased by 37%. The volume of import peaked at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, loading machinery imports reduced to $X in 2022. Overall, imports, however, continue to indicate a perceptible decrease. The pace of growth appeared the most rapid in 2013 when imports increased by 32% against the previous year. As a result, imports reached the peak of $X. From 2014 to 2022, the growth of imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units) and Qatar (X units) dominates imports structure, together creating 82% of total imports. Bahrain (X units) held the next position in the ranking, followed by Oman (X units) and Kuwait (X units). All these countries together took approx. 18% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the key importing countries, was attained by Bahrain (with a CAGR of +19.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported lifting, handling, loading or unloading machinery in GCC, comprising 54% of total imports. The second position in the ranking was taken by Qatar ($X), with a 17% share of total imports. It was followed by Bahrain, with a 10% share.

In the United Arab Emirates, loading machinery imports contracted by an average annual rate of -1.3% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Qatar (+0.1% per year) and Bahrain (+17.6% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, waning by -20.9% against the previous year. Over the period under review, the import price recorded a deep slump. The most prominent rate of growth was recorded in 2016 when the import price increased by 26% against the previous year. Over the period under review, import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood 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 Kuwait ($X per unit), while Qatar ($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 (+7.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform