GCC: Pneumatic Elevator Market 2024

Pneumatic Elevator Market Size in GCC

In 2022, the GCC pneumatic elevator market decreased by -87% to $X for the first time since 2019, thus ending a two-year rising trend. In general, consumption continues to indicate a abrupt decline. The level of consumption peaked at $X in 2021, and then dropped significantly in the following year.

Pneumatic Elevator Production in GCC

In value terms, pneumatic elevator production reduced modestly to $X in 2022 estimated in export price. Over the period under review, production, however, showed a buoyant increase. The most prominent rate of growth was recorded in 2017 when the production volume increased by 109%. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Pneumatic Elevator Exports

Exports in GCC

For the third year in a row, GCC recorded decline in shipments abroad of pneumatic elevators and conveyors, which decreased by -23.4% to X units in 2022. Overall, exports continue to indicate a mild curtailment. The pace of growth was the most pronounced in 2017 when exports increased by 72% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, pneumatic elevator exports contracted sharply to $X in 2022. In general, exports, however, saw a modest expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 251%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports remained at a lower figure.

Exports by Country

The United Arab Emirates dominates exports structure, resulting at X units, which was near 89% of total exports in 2022. It was distantly followed by Kuwait (X units), mixing up a 6.8% share of total exports. The following exporters - Oman (X units) and Bahrain (X units) - together made up 4.5% of total exports.

The United Arab Emirates experienced a relatively flat trend pattern with regard to volume of exports of pneumatic elevators and conveyors. At the same time, Kuwait (+5.2%) and Oman (+4.1%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in GCC, with a CAGR of +5.2% from 2012-2022. Bahrain experienced a relatively flat trend pattern. While the share of the United Arab Emirates (+16 p.p.) and Kuwait (+3.2 p.p.) increased significantly, the shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) remains the largest pneumatic elevator supplier in GCC, comprising 92% of total exports. The second position in the ranking was held by Kuwait ($X), with a 4% share of total exports. It was followed by Oman, with a 3.6% share.

In the United Arab Emirates, pneumatic elevator exports increased at an average annual rate of +4.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Kuwait (+4.8% per year) and Oman (+41.3% per year).

Export Prices by Country

The export price in GCC stood at $X per unit in 2022, waning by -12.2% against the previous year. Export price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +2.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, pneumatic elevator export price increased by +70.8% against 2019 indices. The pace of growth was the most pronounced in 2017 when the export price increased by 104%. As a result, the export price attained the peak level of $X per unit. From 2018 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 (+35.7%), while the other leaders experienced more modest paces of growth.

Pneumatic Elevator Imports

Imports in GCC

In 2022, after two years of growth, there was significant decline in supplies from abroad of pneumatic elevators and conveyors, when their volume decreased by -6.9% to X units. Overall, imports, however, posted prominent growth. The most prominent rate of growth was recorded in 2021 when imports increased by 236%. As a result, imports reached the peak of X units, and then reduced in the following year.

In value terms, pneumatic elevator imports amounted to $X in 2022. Over the period under review, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by 56%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates dominates imports structure, recording X units, which was near 88% of total imports in 2022. It was distantly followed by Bahrain (X units), comprising a 6.5% share of total imports. The following importers - Qatar (X units) and Kuwait (X units) - each resulted at a 4.6% share of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +16.3% from 2012 to 2022. At the same time, Bahrain (+17.5%) and Kuwait (+10.1%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in GCC, with a CAGR of +17.5% from 2012-2022. By contrast, Qatar (-19.0%) illustrated a downward trend over the same period. The United Arab Emirates (+42 p.p.) and Bahrain (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Qatar saw its share reduced by -44.3% 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 ($X) constitutes the largest market for imported pneumatic elevators and conveyors in GCC, comprising 32% of total imports. The second position in the ranking was taken by Kuwait ($X), with a 13% share of total imports. It was followed by Qatar, with a 2.4% share.

In the United Arab Emirates, pneumatic elevator imports decreased by an average annual rate of -8.9% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Kuwait (+14.5% per year) and Qatar (-22.0% per year).

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, picking up by 7.5% against the previous year. In general, the import price, however, saw a abrupt shrinkage. The growth pace was the most rapid in 2017 when the import price increased by 70% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2015; however, from 2016 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Kuwait (+4.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform