Kuwait: Loading Machinery Market 2024

Loading Machinery Exports

Exports from Kuwait

In 2022, approx. X units of lifting, handling, loading or unloading machinery were exported from Kuwait; which is down by -45.2% against 2021 figures. Overall, exports, however, enjoyed a significant expansion. The most prominent rate of growth was recorded in 2021 with an increase of 2,690%. As a result, the exports reached the peak of X units, and then reduced sharply in the following year.

In value terms, loading machinery exports declined markedly to $X in 2022. In general, exports, however, saw a significant expansion. The most prominent rate of growth was recorded in 2013 when exports increased by 1,336% against the previous year. The exports peaked at $X in 2018; however, from 2019 to 2022, the exports remained at a lower figure.

Exports by Country

Saudi Arabia (X units), Turkey (X units) and Egypt (X units) were the main destinations of loading machinery exports from Kuwait, together accounting for 80% of total exports.

From 2012 to 2022, the biggest increases were recorded for Turkey (with a CAGR of +895.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the largest markets for loading machinery exported from Kuwait were Saudi Arabia ($X), the United States ($X) and Egypt ($X), together accounting for 71% of total exports. The United Arab Emirates and Turkey lagged somewhat behind, together comprising a further 22%.

Among the main countries of destination, Turkey, with a CAGR of +254.8%, recorded the highest rates of growth with regard to 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

The average loading machinery export price stood at $X per unit in 2022, reducing by -2.2% against the previous year. Overall, the export price recorded a abrupt curtailment. The most prominent rate of growth was recorded in 2018 an increase of 63% against the previous year. The export price peaked at $X per unit in 2014; however, from 2015 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United States ($X per unit), while the average price for exports to Turkey ($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 Egypt (+9.9%), while the prices for the other major destinations experienced mixed trend patterns.

Loading Machinery Imports

Imports into Kuwait

In 2022, supplies from abroad of lifting, handling, loading or unloading machinery increased by 4.9% to X units for the first time since 2017, thus ending a four-year declining trend. In general, imports, however, continue to indicate a mild curtailment. The pace of growth appeared the most rapid in 2017 with an increase of 92%. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, loading machinery imports stood at $X in 2022. Overall, total imports indicated a buoyant increase from 2012 to 2022: its value increased at an average annual rate of +5.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -31.2% against 2017 indices. The pace of growth appeared the most rapid in 2017 with an increase of 58%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports failed to regain momentum.

Imports by Country

China (X units), Malaysia (X units) and the United States (X units) were the main suppliers of loading machinery imports to Kuwait, together comprising 54% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Malaysia (with a CAGR of +42.9%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Malaysia ($X) constituted the largest supplier of lifting, handling, loading or unloading machinery to Kuwait, comprising 37% of total imports. The second position in the ranking was held by the United States ($X), with a 10% share of total imports. It was followed by Mexico, with an 8% share.

From 2012 to 2022, the average annual growth rate of value from Malaysia amounted to +59.7%. The remaining supplying countries recorded the following average annual rates of imports growth: the United States (+21.6% per year) and Mexico (+11.9% per year).

Import Prices by Country

In 2022, the average loading machinery import price amounted to $X per unit, flattening at the previous year. Over the period under review, import price indicated a buoyant increase from 2012 to 2022: its price increased at an average annual rate of +7.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, loading machinery import price increased by +35.5% against 2017 indices. The most prominent rate of growth was recorded in 2013 when the average import price increased by 41% against the previous year. The import price peaked at $X per unit in 2021, and then contracted in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Malaysia (+11.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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