MENA: Lift And Hoist Market 2024

Lift And Hoist Market Size in MENA

The MENA's lift and hoist market contracted rapidly to $X in 2022, falling by -18.8% against the previous year. Over the period under review, consumption, however, recorded a pronounced setback. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Lift And Hoist Production in MENA

In value terms, lift and hoist production shrank to $X in 2022 estimated in export price. Overall, production, however, showed perceptible growth. The growth pace was the most rapid in 2014 when the production volume increased by 46% against the previous year. Over the period under review, production hit record highs at $X in 2018; however, from 2019 to 2022, production stood at a somewhat lower figure.

Lift And Hoist Exports

Exports in MENA

Lift and hoist exports surged to X units in 2022, growing by 40% on 2021 figures. In general, exports posted a resilient increase. The most prominent rate of growth was recorded in 2020 when exports increased by 76%. As a result, the exports reached the peak of X units. From 2021 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, lift and hoist exports surged to $X in 2022. Overall, exports continue to indicate a resilient increase. The most prominent rate of growth was recorded in 2019 when exports increased by 41%. The level of export peaked in 2022 and is expected to retain growth in years to come.

Exports by Country

Turkey dominates exports structure, resulting at X units, which was approx. 86% of total exports in 2022. It was distantly followed by Saudi Arabia (X units), committing a 6.6% share of total exports. The United Arab Emirates (X units) followed a long way behind the leaders.

From 2012 to 2022, average annual rates of growth with regard to lift and hoist exports from Turkey stood at +19.4%. At the same time, Saudi Arabia (+57.9%) and the United Arab Emirates (+6.7%) displayed positive paces of growth. Moreover, Saudi Arabia emerged as the fastest-growing exporter exported in MENA, with a CAGR of +57.9% from 2012-2022. Turkey (+12 p.p.) and Saudi Arabia (+6.2 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -5.7% from 2012 to 2022, respectively.

In value terms, Turkey ($X) remains the largest lift and hoist supplier in MENA, comprising 88% of total exports. The second position in the ranking was held by Saudi Arabia ($X), with a 6.3% share of total exports.

In Turkey, lift and hoist exports expanded at an average annual rate of +16.8% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Saudi Arabia (+52.6% per year) and the United Arab Emirates (+6.8% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, waning by -6.6% against the previous year. Over the period under review, the export price showed a slight curtailment. The pace of growth was the most pronounced in 2021 when the export price increased by 54%. Over the period under review, the export prices attained the maximum at $X per unit in 2015; however, from 2016 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Turkey ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United Arab Emirates (+0.1%), while the other leaders experienced a decline in the export price figures.

Lift And Hoist Imports

Imports in MENA

After two years of decline, supplies from abroad of lifts and hoists increased by 11% to X units in 2022. Total imports indicated moderate growth from 2012 to 2022: its volume increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2014 with an increase of 30% against the previous year. The volume of import peaked at X units in 2019; however, from 2020 to 2022, imports stood at a somewhat lower figure.

In value terms, lift and hoist imports shrank modestly to $X in 2022. The total import value increased at an average annual rate of +1.4% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The most prominent rate of growth was recorded in 2021 when imports increased by 9.9% against the previous year. Over the period under review, imports attained the maximum at $X in 2018; however, from 2019 to 2022, imports stood at a somewhat lower figure.

Imports by Country

Qatar represented the largest importer of lifts and hoists in MENA, with the volume of imports amounting to X units, which was near 31% of total imports in 2022. It was distantly followed by Egypt (X units), the United Arab Emirates (X units), Israel (X units), Algeria (X units), Bahrain (X units) and Turkey (X units), together generating a 55% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to lift and hoist imports into Qatar stood at -2.1%. At the same time, Egypt (+17.2%), Algeria (+13.8%), Israel (+7.6%), Bahrain (+6.7%), the United Arab Emirates (+3.7%) and Turkey (+1.2%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of +17.2% from 2012-2022. From 2012 to 2022, the share of Egypt, Algeria, Israel and Bahrain increased by +10, +5.5, +3.1 and +2.3 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Israel ($X), the United Arab Emirates ($X) and Egypt ($X) constituted the countries with the highest levels of imports in 2022, with a combined 42% share of total imports. Turkey, Algeria, Qatar and Bahrain lagged somewhat behind, together comprising a further 25%.

In terms of the main importing countries, Algeria, with a CAGR of +10.5%, saw the highest rates of growth with regard to 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, with a decrease of -14.4% against the previous year. Over the period under review, the import price showed a slight setback. The growth pace was the most rapid in 2020 when the import price increased by 22%. The level of import peaked at $X per unit in 2013; however, from 2014 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was Israel ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (+2.0%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform