MENA: Jacks And Hoists Market 2024

Jacks And Hoists Market Size in MENA

The MENA's jacks and hoists market reduced to $X in 2022, which is down by -4.2% against the previous year. In general, consumption recorded a noticeable decline. The level of consumption peaked at $X in 2014; however, from 2015 to 2022, consumption remained at a lower figure.

Jacks And Hoists Production in MENA

In value terms, jacks and hoists production reduced to $X in 2022 estimated in export price. Over the period under review, production showed a pronounced contraction. The pace of growth was the most pronounced in 2019 with an increase of 23%. Over the period under review, production reached the maximum level at $X in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Jacks And Hoists Exports

Exports in MENA

In 2022, shipments abroad of jacks and hoists for raising vehicles increased by 3% to X units, rising for the second consecutive year after two years of decline. Overall, exports recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2018 when exports increased by 144% against the previous year. As a result, the exports reached the peak of X units. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, jacks and hoists exports rose rapidly to $X in 2022. In general, exports continue to indicate a prominent expansion. The pace of growth appeared the most rapid in 2015 when exports increased by 132% against the previous year. Over the period under review, the exports hit record highs at $X in 2019; however, from 2020 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey was the major exporting country with an export of around X units, which amounted to 79% of total exports. It was distantly followed by Israel (X units), mixing up a 20% share of total exports.

Exports from Turkey decreased at an average annual rate of -1.5% from 2012 to 2022. At the same time, Israel (+63.1%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in MENA, with a CAGR of +63.1% from 2012-2022. From 2012 to 2022, the share of Israel increased by +19 percentage points.

In value terms, Turkey ($X) remains the largest jacks and hoists supplier in MENA, comprising 71% of total exports. The second position in the ranking was taken by Israel ($X), with a 12% share of total exports.

In Turkey, jacks and hoists exports increased at an average annual rate of +8.9% over the period from 2012-2022.

Export Prices by Country

The export price in MENA stood at $X per unit in 2022, increasing by 3.6% against the previous year. Overall, the export price saw strong growth. The most prominent rate of growth was recorded in 2015 an increase of 154%. As a result, the export price reached the peak level of $X per unit. From 2016 to 2022, the export prices failed to regain momentum.

Average prices varied somewhat amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while Israel totaled $X per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+10.5%).

Jacks And Hoists Imports

Imports in MENA

In 2022, overseas purchases of jacks and hoists for raising vehicles decreased by -49.5% to X units, falling for the fourth year in a row after two years of growth. Overall, imports, however, recorded a measured expansion. The most prominent rate of growth was recorded in 2014 with an increase of 55%. Over the period under review, imports hit record highs at X units in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

In value terms, jacks and hoists imports contracted remarkably to $X in 2022. In general, imports saw a pronounced decrease. The growth pace was the most rapid in 2017 when imports increased by 44% against the previous year. As a result, imports reached the peak of $X. From 2018 to 2022, the growth of imports remained at a lower figure.

Imports by Country

Turkey represented the largest importing country with an import of about X units, which reached 42% of total imports. The United Arab Emirates (X units) held the second position in the ranking, distantly followed by Israel (X units), Algeria (X units), Egypt (X units), Iraq (X units) and Morocco (X units). All these countries together took approx. 44% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to jacks and hoists imports into Turkey stood at +3.8%. At the same time, Israel (+12.4%), the United Arab Emirates (+12.1%), Egypt (+12.0%) and Iraq (+4.4%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +12.4% from 2012-2022. By contrast, Algeria (-1.6%) and Morocco (-2.4%) illustrated a downward trend over the same period. The United Arab Emirates (+9.3 p.p.), Israel (+4.9 p.p.), Turkey (+4.3 p.p.) and Egypt (+3 p.p.) significantly strengthened its position in terms of the total imports, while Algeria and Morocco saw its share reduced by -2.8% and -3% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest jacks and hoists importing markets in MENA were the United Arab Emirates ($X), Turkey ($X) and Algeria ($X), together accounting for 48% of total imports. Israel, Morocco, Egypt and Iraq lagged somewhat behind, together comprising a further 20%.

In terms of the main importing countries, Israel, with a CAGR of +5.1%, 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 2022, the import price in MENA amounted to $X per unit, growing by 56% against the previous year. Overall, the import price, however, showed a deep reduction. Over the period under review, import prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Algeria ($X per unit), while Iraq ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Algeria (-0.9%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform