GCC: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in GCC

The GCC overhead travelling crane market reached $X in 2022, with an increase of 4% against the previous year. Over the period under review, consumption, however, showed a perceptible descent. Over the period under review, the market hit record highs at $X in 2012; however, from 2013 to 2022, consumption failed to regain momentum.

Overhead Travelling Crane Production in GCC

In value terms, overhead travelling crane production reached $X in 2022 estimated in export price. In general, production, however, posted buoyant growth. The most prominent rate of growth was recorded in 2015 with an increase of 116%. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Overhead Travelling Crane Exports

Exports in GCC

After two years of growth, shipments abroad of overhead travelling cranes on fixed support decreased by -42% to X units in 2022. Overall, exports, however, saw a modest increase. The pace of growth was the most pronounced in 2015 with an increase of 164%. As a result, the exports attained the peak of X units. From 2016 to 2022, the growth of the exports failed to regain momentum.

In value terms, overhead travelling crane exports declined notably to $X in 2022. Over the period under review, exports continue to indicate a noticeable decrease. The growth pace was the most rapid in 2015 when exports increased by 162% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units) and Kuwait (X units) dominates exports structure, together committing 87% of total exports. Bahrain (X units) ranks next in terms of the total exports with a 7.5% share, followed by Oman (5.7%).

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the main exporting countries, was attained by Kuwait (with a CAGR of +6.4%), while the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the largest overhead travelling crane supplier in GCC, comprising 74% of total exports. The second position in the ranking was taken by Kuwait ($X), with a 17% share of total exports. It was followed by Oman, with a 7% share.

From 2012 to 2022, the average annual growth rate of value in the United Arab Emirates stood at -4.5%. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (+13.0% per year) and Oman (+14.6% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, growing by 20% against the previous year. In general, the export price, however, recorded a pronounced downturn. The most prominent rate of growth was recorded in 2016 when the export price increased by 57% against the previous year. Over the period under review, the export prices attained the peak figure at $X per unit in 2017; however, from 2018 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 ($X per unit), while Bahrain ($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 (+27.0%), while the other leaders experienced mixed trends in the export price figures.

Overhead Travelling Crane Imports

Imports in GCC

For the third consecutive year, GCC recorded growth in supplies from abroad of overhead travelling cranes on fixed support, which increased by 2% to X units in 2022. Over the period under review, imports, however, continue to indicate a abrupt decline. The growth pace was the most rapid in 2021 with an increase of 123% against the previous year. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, overhead travelling crane imports stood at $X in 2022. In general, imports, however, recorded a pronounced descent. The pace of growth appeared the most rapid in 2013 when imports increased by 39% against the previous year. As a result, imports attained the peak of $X. From 2014 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Qatar prevails in imports structure, amounting to X units, which was near 75% of total imports in 2022. The United Arab Emirates (X units) held an 8.2% share (based on physical terms) of total imports, which put it in second place, followed by Oman (7.8%) and Bahrain (6.5%). Kuwait (X units) took a minor share of total imports.

Imports into Qatar decreased at an average annual rate of -13.6% from 2012 to 2022. At the same time, Bahrain (+18.5%), the United Arab Emirates (+11.8%) and Oman (+2.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +18.5% from 2012-2022. By contrast, Kuwait (-8.6%) illustrated a downward trend over the same period. While the share of the United Arab Emirates (+7.4 p.p.), Bahrain (+6.2 p.p.) and Oman (+6 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-20.4 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Bahrain ($X) and Oman ($X) appeared to be the countries with the highest levels of imports in 2022, together accounting for 44% of total imports.

In terms of the main importing countries, Bahrain, with a CAGR of +18.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline in the imports figures.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, picking up by 4.4% against the previous year. Over the period under review, the import price saw strong growth. The pace of growth was the most pronounced in 2013 an increase of 338%. Over the period under review, import prices attained the peak figure at $X per unit in 2014; however, from 2015 to 2022, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the United Arab Emirates ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Bahrain (+0.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform