Kuwait: Lifting Equipment Market 2025

Lifting Equipment Market Size in Kuwait

The Kuwaiti lifting equipment market reached $X in 2021, growing by 2.3% 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). Over the period under review, consumption, however, recorded a buoyant expansion. Over the period under review, the market reached the peak level at $X in 2017; however, from 2018 to 2021, consumption stood at a somewhat lower figure.

Lifting Equipment Exports

Exports from Kuwait

In 2021, the amount of lifting equipment exported from Kuwait reduced sharply to X units, falling by -90.9% against the year before. Overall, exports saw a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 1,000% against the previous year. As a result, the exports attained the peak of X units, and then contracted dramatically in the following year.

In value terms, lifting equipment exports shrank remarkably to $X in 2021. Over the period under review, exports, however, showed modest growth. The most prominent rate of growth was recorded in 2020 when exports increased by 814%. The exports peaked at $X in 2018; however, from 2019 to 2021, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for lifting equipment exports from Kuwait, with a approx. 100% share of total exports.

From 2012 to 2021, the average annual rate of growth in terms of volume to the United Arab Emirates stood at +16.7%.

In value terms, the United Arab Emirates ($X) remains the key foreign market for lifting equipment exports from Kuwait, comprising 77% of total exports. The second position in the ranking was held by Nigeria ($X), with a 19% share of total exports. It was followed by Egypt, with a 0.3% share.

From 2012 to 2021, the average annual growth rate of value to the United Arab Emirates amounted to +13.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Nigeria (-92.2% per year) and Egypt (+8.8% per year).

Export Prices by Country

In 2021, the average lifting equipment export price amounted to $X per unit, surging by 13% against the previous year. Overall, the export price continues to indicate a resilient expansion. The growth pace was the most rapid in 2018 when the average export price increased by 176%. As a result, the export price attained the peak level of $X per unit. From 2019 to 2021, the average export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Nigeria ($X per unit), while the average price for exports to the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Nigeria (+11,129,704.2%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into Kuwait

In 2021, purchases abroad of lifting equipment decreased by -21.6% to X units for the first time since 2018, thus ending a two-year rising trend. Over the period under review, imports, however, showed a strong expansion. The growth pace was the most rapid in 2015 when imports increased by 406%. Imports peaked at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, lifting equipment imports reduced modestly to $X in 2021. In general, imports, however, saw a tangible increase. The growth pace was the most rapid in 2017 when imports increased by 252%. Imports peaked at $X in 2015; however, from 2016 to 2021, imports remained at a lower figure.

Imports by Country

In 2021, Saudi Arabia (X units) was the main lifting equipment supplier to Kuwait, with a approx. 99% share of total imports.

From 2012 to 2021, the average annual rate of growth in terms of volume from Saudi Arabia amounted to +65.6%.

In value terms, the United States ($X) constituted the largest supplier of lifting equipment to Kuwait, comprising 0.1% of total imports. The second position in the ranking was held by Saudi Arabia ($X), with less than 0.1% share of total imports.

From 2012 to 2021, the average annual growth rate of value from the United States stood at -27.3%.

Import Prices by Country

The average lifting equipment import price stood at $X per unit in 2021, increasing by 25% against the previous year. Overall, the import price, however, showed a deep contraction. Over the period under review, average import prices reached the maximum at $X per unit in 2012; however, from 2013 to 2021, import prices stood at a somewhat lower figure.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was the United States ($X per unit), while the price for Saudi Arabia amounted to $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+22.5%).

Source: IndexBox Platform

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