MENA: Truck Crane Market 2024

Truck Crane Market Size in MENA

In 2021, the MENA's truck crane market increased by 23% to $X, rising for the second year in a row after two years of decline. Overall, consumption, however, saw a perceptible setback. The level of consumption peaked at $X in 2013; however, from 2014 to 2021, consumption failed to regain momentum.

Truck Crane Production in MENA

In value terms, truck crane production contracted to $X in 2021 estimated in export price. In general, production continues to indicate a noticeable contraction. The pace of growth appeared the most rapid in 2018 with an increase of 46% against the previous year. The level of production peaked at $X in 2012; however, from 2013 to 2021, production remained at a lower figure.

Truck Crane Exports

Exports in MENA

In 2021, the amount of truck cranes exported in MENA skyrocketed to X units, jumping by 111% compared with 2020 figures. Overall, exports enjoyed a buoyant increase. The volume of export peaked at X units in 2015; afterwards, it flattened through to 2021.

In value terms, truck crane exports skyrocketed to $X in 2021. In general, exports recorded prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

Turkey was the largest exporting country with an export of around X units, which recorded 65% of total exports. The United Arab Emirates (X units) took a 13% share (based on physical terms) of total exports, which put it in second place, followed by Oman (9.9%) and Bahrain (5.7%). The following exporters - Algeria (X units) and Morocco (X units) - each reached a 3.9% share of total exports.

Exports from Turkey increased at an average annual rate of +11.2% from 2012 to 2021. At the same time, Oman (+25.9%), Bahrain (+12.6%), Morocco (+5.3%) and the United Arab Emirates (+4.9%) displayed positive paces of growth. Moreover, Oman emerged as the fastest-growing exporter exported in MENA, with a CAGR of +25.9% from 2012-2021. By contrast, Algeria (-1.7%) illustrated a downward trend over the same period. Turkey (+11 p.p.), Oman (+7.2 p.p.) and Bahrain (+1.5 p.p.) significantly strengthened its position in terms of the total exports, while Algeria and the United Arab Emirates saw its share reduced by -3.5% and -5.2% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest truck crane supplier in MENA, comprising 71% of total exports. The second position in the ranking was held by Oman ($X), with an 8.9% share of total exports. It was followed by Bahrain, with a 7% share.

From 2012 to 2021, the average annual growth rate of value in Turkey stood at +8.7%. In the other countries, the average annual rates were as follows: Oman (+21.3% per year) and Bahrain (+7.6% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, approximately equating the previous year. Overall, the export price, however, continues to indicate a noticeable downturn. The pace of growth appeared the most rapid in 2017 an increase of 6.9% against the previous year. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, the export prices remained at a 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 Bahrain ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Algeria (+0.6%), while the other leaders experienced a decline in the export price figures.

Truck Crane Imports

Imports in MENA

In 2021, overseas purchases of truck cranes were finally on the rise to reach X units for the first time since 2013, thus ending a seven-year declining trend. In general, imports showed a relatively flat trend pattern. The volume of import peaked at X units in 2013; however, from 2014 to 2021, imports remained at a lower figure.

In value terms, truck crane imports surged to $X in 2021. Overall, imports, however, recorded a perceptible reduction. Over the period under review, imports attained the maximum at $X in 2013; however, from 2014 to 2021, imports failed to regain momentum.

Imports by Country

The United Arab Emirates was the major importing country with an import of around X units, which accounted for 36% of total imports. Egypt (X units) ranks second in terms of the total imports with a 17% share, followed by Israel (12%), Iraq (6.6%), Kuwait (5.1%) and Algeria (5.1%). Turkey (X units) held a minor share of total imports.

From 2012 to 2021, average annual rates of growth with regard to truck crane imports into the United Arab Emirates stood at +3.8%. At the same time, Egypt (+17.3%), Israel (+13.3%) and Kuwait (+2.4%) displayed positive paces of growth. Moreover, Egypt emerged as the fastest-growing importer imported in MENA, with a CAGR of +17.3% from 2012-2021. By contrast, Iraq (-2.2%), Turkey (-11.1%) and Algeria (-14.1%) illustrated a downward trend over the same period. From 2012 to 2021, the share of Egypt, the United Arab Emirates and Israel increased by +13, +9.9 and +8.4 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X) constitutes the largest market for imported truck cranes in MENA, comprising 27% of total imports. The second position in the ranking was held by Egypt ($X), with a 13% share of total imports. It was followed by Israel, with a 9.5% share.

From 2012 to 2021, the average annual rate of growth in terms of value in the United Arab Emirates totaled -3.2%. In the other countries, the average annual rates were as follows: Egypt (+14.4% per year) and Israel (+11.4% per year).

Import Prices by Country

The import price in MENA stood at $X per unit in 2021, with an increase of 1.9% against the previous year. In general, the import price, however, showed a perceptible downturn. The most prominent rate of growth was recorded in 2020 an increase of 10%. The level of import peaked at $X per unit in 2012; however, from 2013 to 2021, 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 2021, the most notable rate of growth in terms of prices was attained by Turkey (+6.1%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform