Jordan: Crane Market 2024

Crane Market Size in Jordan

In 2022, the Jordanian crane market decreased by -1.1% to $X for the first time since 2019, thus ending a two-year rising trend. Over the period under review, the total consumption indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -1.0% against 2018 indices. Over the period under review, the market reached the peak level at $X in 2021, and then reduced in the following year.

Crane Production in Jordan

In value terms, crane production amounted to $X in 2022 estimated in export price. Overall, production, however, enjoyed a temperate increase. The most prominent rate of growth was recorded in 2018 when the production volume increased by 105% against the previous year. Over the period under review, production attained the peak level at $X in 2020; however, from 2021 to 2022, production failed to regain momentum.

Crane Exports

Exports from Jordan

In 2022, exports of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane from Jordan contracted significantly to X units, which is down by -84.6% compared with 2021. In general, exports recorded a sharp shrinkage. The growth pace was the most rapid in 2019 when exports increased by 985%. As a result, the exports attained the peak of X units. From 2020 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, crane exports dropped markedly to $X in 2022. Over the period under review, exports recorded a precipitous curtailment. The most prominent rate of growth was recorded in 2019 when exports increased by 734%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Free Zones (X units), Saudi Arabia (X units) and Yemen (X units) were the main destinations of crane exports from Jordan, with a combined 94% share of total exports.

From 2012 to 2022, the biggest increases were recorded for Saudi Arabia (with a CAGR of -11.4%), while shipments for the other leaders experienced a decline.

In value terms, Saudi Arabia ($X), Free Zones ($X) and Yemen ($X) appeared to be the largest markets for crane exported from Jordan worldwide, with a combined 95% share of total exports. Iraq and Qatar lagged somewhat behind, together comprising a further 4.1%.

In terms of the main countries of destination, Qatar, with a CAGR of +29.4%, saw the highest growth rate of the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average crane export price amounted to $X per unit, surging by 13% against the previous year. In general, the export price recorded a moderate expansion. The pace of growth appeared the most rapid in 2016 when the average export price increased by 62%. Over the period under review, the average export prices reached the maximum in 2022 and is likely to see steady growth in years to come.

Average prices varied somewhat for the major overseas markets. In 2022, amid the top suppliers, the highest price was recorded for prices to Saudi Arabia ($X per unit) and Yemen ($X per unit), while the average price for exports to Free Zones ($X per unit) and Iraq ($X per unit) were amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Egypt (+61.8%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Jordan

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were imported into Jordan; declining by -37.6% against the previous year's figure. Over the period under review, imports, however, posted a slight expansion. The pace of growth appeared the most rapid in 2021 with an increase of 332%. Imports peaked at X units in 2017; however, from 2018 to 2022, imports remained at a lower figure.

In value terms, crane imports reduced rapidly to $X in 2022. Overall, imports, however, recorded a temperate increase. The pace of growth was the most pronounced in 2021 with an increase of 232%. As a result, imports reached the peak of $X, and then fell markedly in the following year.

Imports by Country

In 2022, Germany (X units) constituted the largest crane supplier to Jordan, accounting for a 60% share of total imports. Moreover, crane imports from Germany exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was taken by Japan (X units), with a 9.3% share.

From 2012 to 2022, the average annual growth rate of volume from Germany stood at +6.8%. The remaining supplying countries recorded the following average annual rates of imports growth: China (-3.2% per year) and Japan (+14.4% per year).

In value terms, Germany ($X) constituted the largest supplier of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane to Jordan, comprising 44% of total imports. The second position in the ranking was held by China ($X), with a 15% share of total imports. It was followed by Italy, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value from Germany amounted to +7.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+0.5% per year) and Italy (+3.0% per year).

Import Prices by Country

The average crane import price stood at $X per unit in 2022, standing approx. at the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2022: its price increased at an average annual rate of +1.4% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, crane import price decreased by -22.3% against 2020 indices. The pace of growth appeared the most rapid in 2019 when the average import price increased by 64%. The import price peaked at $X per unit in 2014; however, from 2015 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Italy ($X per unit), while the price for Spain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Italy (+11.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform