MENA: Underground Continuous-Action Elevator Market 2024

Underground Continuous-Action Elevator Market Size in MENA

The MENA's underground continuous-action elevator market dropped remarkably to $X in 2021, waning by -86.1% against the previous year. Overall, consumption recorded a precipitous descent. As a result, consumption attained the peak level of $X. From 2014 to 2021, the growth of the market remained at a lower figure.

Underground Continuous-Action Elevator Production in MENA

In value terms, underground continuous-action elevator production rose rapidly to $X in 2021 estimated in export price. Overall, production continues to indicate a deep setback. The growth pace was the most rapid in 2020 when the production volume increased by 17%. The level of production peaked at $X in 2012; however, from 2013 to 2021, production stood at a somewhat lower figure.

Underground Continuous-Action Elevator Exports

Exports in MENA

In 2021, approx. X units of underground continuous-action elevators and conveyors were exported in MENA; rising by 48% on the previous year's figure. In general, exports posted a buoyant increase. The growth pace was the most rapid in 2015 with an increase of 283% against the previous year. The volume of export peaked at X units in 2017; however, from 2018 to 2021, the exports failed to regain momentum.

In value terms, underground continuous-action elevator exports skyrocketed to $X in 2021. Over the period under review, exports showed strong growth. The most prominent rate of growth was recorded in 2015 with an increase of 641%. The level of export peaked at $X in 2017; however, from 2018 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

The biggest shipments were from the United Arab Emirates (X units), Egypt (X units) and Turkey (X units), together resulting at 99% of total export.

From 2012 to 2021, the biggest increases were recorded for Egypt (with a CAGR of +59.0%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, Egypt ($X) remains the largest underground continuous-action elevator supplier in MENA, comprising 59% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 22% share of total exports.

In Egypt, underground continuous-action elevator exports expanded at an average annual rate of +68.4% over the period from 2012-2021. In the other countries, the average annual rates were as follows: the United Arab Emirates (-7.7% per year) and Turkey (+22.6% per year).

Export Prices by Country

The export price in MENA stood at $X per unit in 2021, with an increase of 2.2% against the previous year. In general, the export price, however, saw a noticeable reduction. The most prominent rate of growth was recorded in 2015 when the export price increased by 94% against the previous year. Over the period under review, the export prices attained the maximum at $X per unit in 2012; however, from 2013 to 2021, 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 Egypt ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Egypt (+5.9%), while the other leaders experienced mixed trends in the export price figures.

Underground Continuous-Action Elevator Imports

Imports in MENA

In 2021, overseas purchases of underground continuous-action elevators and conveyors increased by 97% to X units, rising for the second year in a row after two years of decline. In general, imports, however, saw a deep slump. The volume of import peaked at X units in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, underground continuous-action elevator imports fell slightly to $X in 2021. Overall, imports, however, continue to indicate a abrupt setback. The most prominent rate of growth was recorded in 2020 with an increase of 84%. The level of import peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

Turkey was the largest importing country with an import of about X units, which recorded 58% of total imports. Egypt (X units) held the second position in the ranking, followed by Israel (X units). All these countries together took near 27% share of total imports. The following importers - Iraq (X units), Algeria (X units) and Qatar (X units) - together made up 11% of total imports.

From 2012 to 2021, average annual rates of growth with regard to underground continuous-action elevator imports into Turkey stood at -10.7%. At the same time, Iraq (+33.0%), Algeria (+13.3%) and Egypt (+11.1%) displayed positive paces of growth. Moreover, Iraq emerged as the fastest-growing importer imported in MENA, with a CAGR of +33.0% from 2012-2021. By contrast, Qatar (-3.4%) and Israel (-8.5%) illustrated a downward trend over the same period. Egypt (+11 p.p.), Iraq (+4 p.p.) and Algeria (+3.4 p.p.) significantly strengthened its position in terms of the total imports, while Turkey saw its share reduced by -18.6% from 2012 to 2021, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the largest underground continuous-action elevator importing markets in MENA were Turkey ($X), Egypt ($X) and Israel ($X), with a combined 77% share of total imports. These countries were followed by Algeria, Iraq and Qatar, which together accounted for a further 17%.

In terms of the main importing countries, Iraq, with a CAGR of +26.4%, 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 2021, the import price in MENA amounted to $X per unit, with a decrease of -49.8% against the previous year. Overall, the import price showed a abrupt decline. The pace of growth was the most pronounced in 2019 when the import price increased by 59% against the previous year. Over the period under review, import prices hit record highs at $X per unit in 2020, and then declined markedly in the following year.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Algeria ($X per unit), while Turkey ($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 (+3.1%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform