Middle East: Loading Machinery Market 2024

Loading Machinery Market Size in the Middle East

The Middle Eastern loading machinery market dropped slightly to $X in 2022, standing approx. at the previous year. Over the period under review, consumption saw a resilient expansion. The level of consumption peaked at $X in 2020; afterwards, it flattened through to 2022.

Loading Machinery Production in the Middle East

In value terms, loading machinery production dropped to $X in 2022 estimated in export price. Over the period under review, production showed a buoyant expansion. The most prominent rate of growth was recorded in 2018 with an increase of 65%. Over the period under review, production attained the maximum level at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Loading Machinery Exports

Exports in the Middle East

In 2022, approx. X units of lifting, handling, loading or unloading machinery were exported in the Middle East; with an increase of 19% compared with the previous year's figure. In general, exports recorded a prominent increase. The growth pace was the most rapid in 2019 when exports increased by 40%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in the near future.

In value terms, loading machinery exports expanded notably to $X in 2022. Over the period under review, exports posted a remarkable increase. The most prominent rate of growth was recorded in 2019 when exports increased by 40%. Over the period under review, the exports reached the maximum in 2022 and are expected to retain growth in the immediate term.

Exports by Country

Turkey dominates exports structure, reaching X units, which was approx. 80% of total exports in 2022. It was distantly followed by the United Arab Emirates (X units) and Israel (X units), together committing a 14% share of total exports. The following exporters - Kuwait (X units) and Saudi Arabia (X units) - together made up 4.9% of total exports.

Exports from Turkey increased at an average annual rate of +8.8% from 2012 to 2022. At the same time, Kuwait (+50.7%), Israel (+17.1%) and the United Arab Emirates (+5.6%) displayed positive paces of growth. Moreover, Kuwait emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +50.7% from 2012-2022. By contrast, Saudi Arabia (-13.5%) illustrated a downward trend over the same period. From 2012 to 2022, the share of Turkey, Israel and Kuwait increased by +13, +3 and +2.9 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest loading machinery supplier in the Middle East, comprising 72% of total exports. The second position in the ranking was taken by the United Arab Emirates ($X), with a 13% share of total exports. It was followed by Israel, with a 9% share.

In Turkey, loading machinery exports increased at an average annual rate of +8.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United Arab Emirates (+6.0% per year) and Israel (+17.4% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, with a decrease of -9.3% against the previous year. Over the last decade, it increased at an average annual rate of +1.3%. The growth pace was the most rapid in 2016 when the export price increased by 15%. The level of export peaked at $X per unit in 2021, and then dropped in the following year.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Saudi Arabia (+16.9%), while the other leaders experienced more modest paces of growth.

Loading Machinery Imports

Imports in the Middle East

In 2022, supplies from abroad of lifting, handling, loading or unloading machinery increased by 4.8% to X units, rising for the second year in a row after three years of decline. The total import volume increased at an average annual rate of +4.4% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2017 when imports increased by 29% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, loading machinery imports shrank remarkably to $X in 2022. The total import value increased at an average annual rate of +1.3% over the period from 2012 to 2022; however, the trend pattern remained relatively stable, with only minor fluctuations in certain years. The pace of growth was the most pronounced in 2013 when imports increased by 32% against the previous year. The level of import peaked at $X in 2021, and then contracted markedly in the following year.

Imports by Country

In 2022, Turkey (X units) represented the largest importer of lifting, handling, loading or unloading machinery, committing 38% of total imports. The United Arab Emirates (X units) ranks second in terms of the total imports with an 18% share, followed by Qatar (16%) and Israel (15%). The following importers - Iraq (X units), Bahrain (X units) and Oman (X units) - each accounted for a 7.7% share of total imports.

From 2012 to 2022, average annual rates of growth with regard to loading machinery imports into Turkey stood at +6.5%. At the same time, Bahrain (+19.4%), Israel (+10.3%), Qatar (+4.4%), the United Arab Emirates (+1.8%) and Oman (+1.5%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +19.4% from 2012-2022. Iraq experienced a relatively flat trend pattern. Turkey (+7 p.p.), Israel (+6.2 p.p.) and Bahrain (+1.9 p.p.) significantly strengthened its position in terms of the total imports, while the United Arab Emirates saw its share reduced by -5.1% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X), Israel ($X) and the United Arab Emirates ($X) appeared to be the countries with the highest levels of imports in 2022, with a combined 78% share of total imports. These countries were followed by Qatar, Bahrain, Oman and Iraq, which together accounted for a further 14%.

Bahrain, with a CAGR of +17.6%, saw the highest growth rate of the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, shrinking by -20.6% against the previous year. In general, the import price saw a pronounced reduction. The growth pace was the most rapid in 2016 when the import price increased by 12% against the previous year. 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.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Bahrain ($X per unit), while Qatar ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (+3.2%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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