MENA: Mounting Lifting Equipment Market 2024

Mounting Lifting Equipment Market Size in MENA

The MENA's mounting lifting equipment market was finally on the rise to reach $X in 2021, after two years of decline. Overall, consumption saw a resilient increase. The level of consumption peaked at $X in 2018; however, from 2019 to 2021, consumption failed to regain momentum.

Mounting Lifting Equipment Production in MENA

In value terms, mounting lifting equipment production rose remarkably to $X in 2021 estimated in export price. In general, production, however, continues to indicate buoyant growth. The growth pace was the most rapid in 2017 with an increase of 56%. The level of production peaked at $X in 2018; however, from 2019 to 2021, production stood at a somewhat lower figure.

Mounting Lifting Equipment Exports

Exports in MENA

Mounting lifting equipment exports skyrocketed to X units in 2021, increasing by 54% on the previous year's figure. Total exports indicated a tangible increase from 2012 to 2021: its volume increased at an average annual rate of +2.7% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +78.1% against 2016 indices. The pace of growth was the most pronounced in 2017 when exports increased by 95% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2015; however, from 2016 to 2021, the exports failed to regain momentum.

In value terms, mounting lifting equipment exports soared to $X in 2021. Total exports indicated a notable expansion from 2012 to 2021: its value increased at an average annual rate of +2.3% over the last nine years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2021 figures, exports increased by +101.3% against 2016 indices. The growth pace was the most rapid in 2017 when exports increased by 59% against the previous year. Over the period under review, the exports attained the maximum in 2021 and are expected to retain growth in the near future.

Exports by Country

In 2021, Turkey (X units) was the largest exporter of lifting equipment designed for mounting on road vehicles, constituting 54% of total exports. Bahrain (X units) held the second position in the ranking, distantly followed by Morocco (X units) and the United Arab Emirates (X units). All these countries together held near 43% share of total exports.

From 2012 to 2021, average annual rates of growth with regard to mounting lifting equipment exports from Turkey stood at +9.4%. At the same time, Morocco (+31.4%) displayed positive paces of growth. Moreover, Morocco emerged as the fastest-growing exporter exported in MENA, with a CAGR of +31.4% from 2012-2021. Bahrain experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-14.4%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Turkey and Morocco increased by +23 and +13 percentage points, respectively.

In value terms, Turkey ($X) remains the largest mounting lifting equipment supplier in MENA, comprising 63% of total exports. The second position in the ranking was taken by Morocco ($X), with a 17% share of total exports. It was followed by the United Arab Emirates, with an 8% share.

In Turkey, mounting lifting equipment exports expanded at an average annual rate of +2.3% over the period from 2012-2021. The remaining exporting countries recorded the following average annual rates of exports growth: Morocco (+39.7% per year) and the United Arab Emirates (-3.5% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, reducing by -17.4% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2020 an increase of 31% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2013; however, from 2014 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2021, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+12.6%), while the other leaders experienced mixed trends in the export price figures.

Mounting Lifting Equipment Imports

Imports in MENA

In 2021, purchases abroad of lifting equipment designed for mounting on road vehicles increased by 62% to X units for the first time since 2018, thus ending a two-year declining trend. In general, imports saw a noticeable increase. The pace of growth appeared the most rapid in 2013 with an increase of 111% against the previous year. The volume of import peaked at X units in 2018; however, from 2019 to 2021, imports stood at a somewhat lower figure.

In value terms, mounting lifting equipment imports skyrocketed to $X in 2021. Overall, imports, however, continue to indicate a relatively flat trend pattern. The level of import peaked at $X in 2014; however, from 2015 to 2021, imports remained at a lower figure.

Imports by Country

The purchases of the one major importers of lifting equipment designed for mounting on road vehicles, namely Qatar, represented more than two-thirds of total import.

Qatar was also the fastest-growing in terms of the lifting equipment designed for mounting on road vehicles imports, with a CAGR of +4.6% from 2012 to 2021. The shares of the largest importers remained relatively stable throughout the analyzed period.

In value terms, Qatar ($X) constitutes the largest market for imported lifting equipment designed for mounting on road vehicles in MENA.

From 2012 to 2021, the average annual rate of growth in terms of value in Qatar totaled +1.6%.

Import Prices by Country

In 2021, the import price in MENA amounted to $X per unit, falling by -11.3% against the previous year. In general, the import price recorded a pronounced descent. The pace of growth appeared the most rapid in 2019 when the import price increased by 342% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, import prices failed to regain momentum.

As there is only one major supplying country, the average price level is determined by prices for Qatar.

From 2012 to 2021, the rate of growth in terms of prices for Qatar amounted to -2.9% per year.

Source: IndexBox Platform