MENA: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in MENA

After two years of growth, the MENA's market for lifts, elevators, moving stairways and draglines decreased by -5.7% to $X in 2022. The total consumption indicated measured growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption reached the peak level of $X. From 2014 to 2022, the growth of the market failed to regain momentum.

Production of Lifts, Elevators, Moving Stairways and Draglines in MENA

In value terms, lift, elevator, stairway and dragline production reduced to $X in 2022 estimated in export price. Over the period under review, production saw a buoyant increase. The most prominent rate of growth was recorded in 2014 when the production volume increased by 45% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production failed to regain momentum.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports in MENA

In 2022, approx. X units of lifts, elevators, moving stairways and draglines were exported in MENA; with an increase of 27% against 2021. Overall, exports posted buoyant growth. The most prominent rate of growth was recorded in 2017 with an increase of 50%. The volume of export peaked in 2022 and is expected to retain growth in the near future.

In value terms, lift, elevator, stairway and dragline exports soared to $X in 2022. Over the period under review, exports posted prominent growth. The pace of growth was the most pronounced in 2017 with an increase of 42%. Over the period under review, the exports attained the maximum in 2022 and are likely to continue growth in years to come.

Exports by Country

Turkey dominates exports structure, finishing at X units, which was approx. 85% of total exports in 2022. The following exporters - the United Arab Emirates (X units), Saudi Arabia (X units), Bahrain (X units) and Kuwait (X units) - together made up 11% of total exports.

From 2012 to 2022, average annual rates of growth with regard to lift, elevator, stairway and dragline exports from Turkey stood at +15.9%. At the same time, Bahrain (+32.8%), Saudi Arabia (+21.9%) and Kuwait (+14.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing exporter exported in MENA, with a CAGR of +32.8% from 2012-2022. By contrast, the United Arab Emirates (-1.3%) illustrated a downward trend over the same period. Turkey (+18 p.p.), Bahrain (+1.9 p.p.) and Saudi Arabia (+1.7 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -11.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest lift, elevator, stairway and dragline supplier in MENA, comprising 86% of total exports. The second position in the ranking was taken by Saudi Arabia ($X), with a 5.7% share of total exports. It was followed by the United Arab Emirates, with a 3.7% share.

In Turkey, lift, elevator, stairway and dragline exports increased at an average annual rate of +14.0% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: Saudi Arabia (+29.5% per year) and the United Arab Emirates (+5.6% per year).

Export Prices by Country

In 2022, the export price in MENA amounted to $X per unit, remaining relatively unchanged against the previous year. Overall, the export price recorded a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 24%. Over the period under review, the export prices attained the maximum at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Saudi Arabia ($X per unit), while Bahrain ($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 (+7.0%), while the other leaders experienced mixed trends in the export price figures.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports in MENA

In 2022, approx. X units of lifts, elevators, moving stairways and draglines were imported in MENA; waning by -17.1% against the previous year. Over the period under review, imports, however, posted a mild expansion. The pace of growth appeared the most rapid in 2019 with an increase of 49%. As a result, imports attained the peak of X units. From 2020 to 2022, the growth of imports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline imports contracted to $X in 2022. In general, imports continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 with an increase of 13%. The level of import peaked at $X in 2017; however, from 2018 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units) and Qatar (X units) represented roughly 40% of total imports in 2022. Bahrain (X units) took the next position in the ranking, followed by Israel (X units), Egypt (X units), Algeria (X units) and Turkey (X units). All these countries together held approx. 40% share of total imports. The following importers - Kuwait (X units), Iran (X units), Iraq (X units) and Morocco (X units) - each amounted to a 15% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main importing countries, was attained by Iraq (with a CAGR of +13.4%), while imports for the other leaders experienced more modest paces of growth.

In value terms, Israel ($X), Turkey ($X) and the United Arab Emirates ($X) constituted the countries with the highest levels of imports in 2022, together comprising 37% of total imports. Egypt, Algeria, Qatar, Morocco, Kuwait, Iran, Iraq and Bahrain lagged somewhat behind, together accounting for a further 42%.

Among the main importing countries, Algeria, with a CAGR of +7.6%, recorded 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, rising by 7.8% against the previous year. In general, the import price, however, showed a pronounced decline. The pace of growth appeared the most rapid in 2020 when the import price increased by 144%. Over the period under review, import prices attained the peak figure at $X per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat 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 Turkey ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Egypt (+24.3%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform