GCC: Non-Self-Propelled Fork-Lift Truck Market 2024

Non-Self-Propelled Fork-Lift Truck Market Size in GCC

The GCC non-self-propelled fork-lift truck market stood at $X in 2022, growing by 4.9% against the previous year. Overall, consumption recorded a prominent expansion. Over the period under review, the market attained the maximum level at $X in 2020; afterwards, it flattened through to 2022.

Non-Self-Propelled Fork-Lift Truck Production in GCC

In value terms, non-self-propelled fork-lift truck production expanded to $X in 2022 estimated in export price. Over the period under review, production posted a strong increase. The growth pace was the most rapid in 2014 when the production volume increased by 124% against the previous year. Over the period under review, production hit record highs at $X in 2020; however, from 2021 to 2022, production remained at a lower figure.

Non-Self-Propelled Fork-Lift Truck Exports

Exports in GCC

In 2022, non-self-propelled fork-lift truck exports in GCC fell to X units, reducing by -14.7% on the previous year's figure. Over the period under review, exports, however, saw a prominent increase. The growth pace was the most rapid in 2014 when exports increased by 964% against the previous year. As a result, the exports attained the peak of X units. From 2015 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, non-self-propelled fork-lift truck exports contracted to $X in 2022. In general, exports showed a perceptible decrease. The most prominent rate of growth was recorded in 2014 with an increase of 673%. As a result, the exports reached the peak of $X. From 2015 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates represented the key exporting country with an export of about X units, which resulted at 73% of total exports. Bahrain (X units) held the second position in the ranking, followed by Kuwait (X units). All these countries together took approx. 25% share of total exports. Oman (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to non-self-propelled fork-lift truck exports from the United Arab Emirates stood at +7.1%. At the same time, Kuwait (+25.8%), Oman (+9.9%) and Bahrain (+9.7%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +25.8% from 2012-2022. From 2012 to 2022, the share of Kuwait, Bahrain and the United Arab Emirates increased by +7.4, +3.9 and +2.9 percentage points, while the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest non-self-propelled fork-lift truck supplier in GCC, comprising 67% of total exports. The second position in the ranking was held by Oman ($X), with a 16% share of total exports. It was followed by Kuwait, with a 12% share.

In the United Arab Emirates, non-self-propelled fork-lift truck exports declined by an average annual rate of -4.2% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Oman (+41.5% per year) and Kuwait (+37.6% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, rising by 9.9% against the previous year. In general, the export price, however, saw a abrupt shrinkage. The pace of growth was the most pronounced in 2020 when the export price increased by 141% against the previous year. 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 ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+28.7%), while the other leaders experienced mixed trends in the export price figures.

Non-Self-Propelled Fork-Lift Truck Imports

Imports in GCC

In 2022, the amount of non-self-propelled fork-lift trucks imported in GCC skyrocketed to X units, jumping by 98% against the previous year's figure. Overall, imports enjoyed a resilient expansion. As a result, imports reached the peak and are likely to continue growth in the immediate term.

In value terms, non-self-propelled fork-lift truck imports surged to $X in 2022. Over the period under review, imports, however, showed a abrupt shrinkage. The level of import peaked at $X in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports by Country

In 2022, the United Arab Emirates (X units) was the main importer of non-self-propelled fork-lift trucks, mixing up 63% of total imports. It was distantly followed by Qatar (X units), comprising a 32% share of total imports. Kuwait (X units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by the United Arab Emirates (with a CAGR of +8.9%), while imports for the other leaders experienced mixed trends in the imports figures.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported non-self-propelled fork-lift trucks in GCC, comprising 61% of total imports. The second position in the ranking was taken by Qatar ($X), with a 14% share of total imports.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates totaled +7.0%. In the other countries, the average annual rates were as follows: Qatar (+4.9% per year) and Kuwait (-4.4% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, reducing by -34.2% against the previous year. Over the period under review, the import price faced a abrupt decline. The pace of growth was the most pronounced in 2019 an increase of 44%. Over the period under review, import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a 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 Qatar (-1.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform