Kuwait: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in Kuwait

The Kuwaiti jacks and hoists market fell remarkably to $X in 2022, waning by -27.4% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption recorded a abrupt decrease. As a result, consumption reached the peak level of $X. From 2019 to 2022, the growth of the market failed to regain momentum.

Jacks And Hoists Exports

Exports from Kuwait

In 2022, the amount of jacks and hoists for raising vehicles exported from Kuwait declined markedly to X units, with a decrease of -36% against the year before. Over the period under review, exports continue to indicate a significant contraction. The pace of growth was the most pronounced in 2017 with an increase of 2,062%. The exports peaked at X units in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

In value terms, jacks and hoists exports contracted dramatically to $X in 2022. In general, exports showed a sharp curtailment. The most prominent rate of growth was recorded in 2017 with an increase of 807%. The exports peaked at $X in 2012; however, from 2013 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

Oman (X units) was the main destination for jacks and hoists exports from Kuwait, with a 60% share of total exports. Moreover, jacks and hoists exports to Oman exceeded the volume sent to the second major destination, Saudi Arabia (X units), sixfold. The third position in this ranking was taken by India (X units), with a 6.9% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to Oman amounted to +33.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (-32.2% per year) and India (-0.9% per year).

In value terms, France ($X) emerged as the key foreign market for jacks and hoists for raising vehicles exports from Kuwait, comprising 65% of total exports. The second position in the ranking was held by India ($X), with a 9.6% share of total exports. It was followed by Qatar, with a 7.2% share.

From 2012 to 2022, the average annual growth rate of value to France stood at +23.8%. Exports to the other major destinations recorded the following average annual rates of exports growth: India (+14.0% per year) and Qatar (-8.8% per year).

Export Prices by Country

In 2022, the average jacks and hoists export price amounted to $X per unit, which is down by -11% against the previous year. Over the period under review, the export price, however, showed a prominent expansion. The pace of growth appeared the most rapid in 2019 when the average export price increased by 156%. The export price peaked at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major export markets. In 2022, amid the top suppliers, the country with the highest price was France ($X per unit), while the average price for exports to the Netherlands ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to France (+25.7%), while the prices for the other major destinations experienced more modest paces of growth.

Jacks And Hoists Imports

Imports into Kuwait

In 2022, the amount of jacks and hoists for raising vehicles imported into Kuwait shrank notably to X units, with a decrease of -38.4% on the previous year. Over the period under review, imports faced a abrupt curtailment. The pace of growth appeared the most rapid in 2018 with an increase of 205% against the previous year. As a result, imports attained the peak of X units. From 2019 to 2022, the growth of imports failed to regain momentum.

In value terms, jacks and hoists imports contracted significantly to $X in 2022. In general, imports continue to indicate a abrupt decline. The most prominent rate of growth was recorded in 2021 when imports increased by 83% against the previous year. Over the period under review, imports attained the maximum at $X in 2019; however, from 2020 to 2022, imports failed to regain momentum.

Imports by Country

China (X units), India (X units) and the United Arab Emirates (X units) were the main suppliers of jacks and hoists imports to Kuwait, with a combined 61% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +15.3%), while imports for the other leaders experienced more modest paces of growth.

In value terms, India ($X), China ($X) and the United States ($X) were the largest jacks and hoists suppliers to Kuwait, with a combined 49% share of total imports. Germany, South Korea, the United Arab Emirates, Taiwan (Chinese), Austria and Japan lagged somewhat behind, together comprising a further 14%.

South Korea, with a CAGR of +26.6%, saw the highest rates of growth with regard to the value of imports, in terms of the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the average jacks and hoists import price amounted to $X per unit, jumping by 25% against the previous year. In general, the import price enjoyed a resilient expansion. The pace of growth was the most pronounced in 2019 an increase of 76%. The import price peaked in 2022 and is likely to continue growth in the immediate term.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Austria (+53.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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