Kuwait: Market for Transporter Cranes, Gantry Cranes And Bridge Cranes 2024

Market Size for Transporter Cranes, Gantry Cranes And Bridge Cranes in Kuwait

In 2021, the Kuwaiti transporter and bridge cranes market decreased by -11.6% to $X, falling for the fifth consecutive year after five years of growth. Overall, consumption continues to indicate a relatively flat trend pattern. Over the period under review, the market hit record highs at $X in 2016; however, from 2017 to 2021, consumption remained at a lower figure.

Production of Transporter Cranes, Gantry Cranes And Bridge Cranes in Kuwait

In value terms, transporter and bridge cranes production amounted to $X in 2021 estimated in export price. In general, production, however, showed a significant increase. Transporter and bridge cranes production peaked at $X in 2019; afterwards, it flattened through to 2021.

Exports of Transporter Cranes, Gantry Cranes And Bridge Cranes

Exports from Kuwait

Transporter and bridge cranes exports from Kuwait shrank dramatically to X units in 2021, falling by -24.7% against 2020. Overall, exports, however, recorded a prominent expansion. The pace of growth appeared the most rapid in 2017 when exports increased by 981% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2021, the growth of the exports failed to regain momentum.

In value terms, transporter and bridge cranes exports reached $X in 2021. In general, exports, however, posted a buoyant expansion. The growth pace was the most rapid in 2017 when exports increased by 712%. As a result, the exports reached the peak of $X. From 2018 to 2021, the growth of the exports remained at a lower figure.

Exports by Country

Iran (X units) was the main destination for transporter and bridge cranes exports from Kuwait, with a 55% share of total exports. Moreover, transporter and bridge cranes exports to Iran exceeded the volume sent to the second major destination, Saudi Arabia (X units), threefold. The United Arab Emirates (X units) ranked third in terms of total exports with a 6% share.

From 2012 to 2021, the average annual growth rate of volume to Iran totaled +17.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+43.5% per year) and the United Arab Emirates (-0.0% per year).

In value terms, Iran ($X) remains the key foreign market for transporter cranes, gantry cranes and bridge cranes exports from Kuwait, comprising 50% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with an 18% share of total exports. It was followed by Italy, with a 16% share.

From 2012 to 2021, the average annual rate of growth in terms of value to Iran amounted to +18.1%. Exports to the other major destinations recorded the following average annual rates of exports growth: Saudi Arabia (+57.4% per year) and Italy (+40.6% per year).

Export Prices by Country

The average transporter and bridge cranes export price stood at $X per unit in 2021, picking up by 35% against the previous year. Overall, the export price, however, continues to indicate a slight curtailment. The pace of growth appeared the most rapid in 2014 when the average export price increased by 58%. Over the period under review, the average export prices hit record highs at $X per unit in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Italy ($X per unit), while the average price for exports to India ($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 Italy (+32.0%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Transporter Cranes, Gantry Cranes And Bridge Cranes

Imports into Kuwait

In 2021, purchases abroad of transporter cranes, gantry cranes and bridge cranes decreased by -45.9% to X units, falling for the fourth consecutive year after six years of growth. Over the period under review, imports recorded a abrupt curtailment. The pace of growth was the most pronounced in 2013 with an increase of 155% against the previous year. Over the period under review, imports hit record highs at X units in 2017; however, from 2018 to 2021, imports stood at a somewhat lower figure.

In value terms, transporter and bridge cranes imports shrank notably to $X in 2021. In general, imports continue to indicate a abrupt setback. The pace of growth appeared the most rapid in 2014 when imports increased by 124% against the previous year. Over the period under review, imports attained the maximum at $X in 2016; however, from 2017 to 2021, imports stood at a somewhat lower figure.

Imports by Country

In 2021, Japan (X units) constituted the largest transporter and bridge cranes supplier to Kuwait, accounting for a 29% share of total imports. Moreover, transporter and bridge cranes imports from Japan exceeded the figures recorded by the second-largest supplier, Germany (X units), twofold. The third position in this ranking was taken by New Zealand (X units), with a 10% share.

From 2012 to 2021, the average annual rate of growth in terms of volume from Japan totaled +34.9%. The remaining supplying countries recorded the following average annual rates of imports growth: Germany (+42.4% per year) and New Zealand (+32.8% per year).

In value terms, the largest transporter and bridge cranes suppliers to Kuwait were Japan ($X), New Zealand ($X) and Turkey ($X), together comprising 41% of total imports. Germany, the United States, China, Belgium, the United Arab Emirates and Saudi Arabia lagged somewhat behind, together accounting for a further 30%.

Among the main suppliers, the United States, with a CAGR of +40.8%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2021, the average transporter and bridge cranes import price amounted to $X per unit, standing approx. at the previous year. Overall, the import price recorded a perceptible curtailment. The most prominent rate of growth was recorded in 2014 when the average import price increased by 61%. As a result, import price attained the peak level of $X per unit. From 2015 to 2021, the average import prices remained at a somewhat lower figure.

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

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Turkey (+8.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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