Middle East: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in the Middle East

In 2022, the Middle Eastern market for lifts, elevators, moving stairways and draglines decreased by -6.8% to $X for the first time since 2019, thus ending a two-year rising trend. The total consumption indicated temperate growth from 2012 to 2022: its value increased at an average annual rate of +3.8% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $X. From 2014 to 2022, the growth of the market remained at a lower figure.

Production of Lifts, Elevators, Moving Stairways and Draglines in the Middle East

In value terms, lift, elevator, stairway and dragline production shrank to $X in 2022 estimated in export price. Overall, production continues to indicate a strong expansion. The most prominent rate of growth was recorded in 2014 with an increase of 45% against the previous year. The level of production peaked at $X in 2018; however, from 2019 to 2022, production remained at a lower figure.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports in the Middle East

Lift, elevator, stairway and dragline exports surged to X units in 2022, with an increase of 28% on 2021 figures. In general, exports showed a strong expansion. The most prominent rate of growth was recorded in 2017 with an increase of 55%. Over the period under review, the exports attained the peak figure in 2022 and are likely to see steady growth in the near future.

In value terms, lift, elevator, stairway and dragline exports skyrocketed to $X in 2022. Over the period under review, exports continue to indicate a buoyant expansion. The most prominent rate of growth was recorded in 2017 when exports increased by 44% against the previous year. Over the period under review, the exports reached the peak figure in 2022 and are likely to see gradual growth in the near future.

Exports by Country

Turkey prevails in exports structure, accounting for X units, which was approx. 86% of total exports in 2022. The United Arab Emirates (X units), Saudi Arabia (X units), Bahrain (X units) and Kuwait (X units) followed a long way behind the leaders.

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 the Middle East, 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. While the share of Turkey (+14 p.p.), Bahrain (+1.9 p.p.) and Saudi Arabia (+1.6 p.p.) increased significantly in terms of the total exports from 2012-2022, the share of the United Arab Emirates (-12.2 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest lift, elevator, stairway and dragline supplier in the Middle East, comprising 87% of total exports. The second position in the ranking was held by Saudi Arabia ($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. In the other countries, the average annual rates were as follows: Saudi Arabia (+29.5% per year) and the United Arab Emirates (+5.6% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, approximately reflecting the previous year. Overall, the export price, however, continues to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2021 an increase of 24% against the previous year. The level of export peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices stood at a somewhat lower figure.

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 the Middle East

In 2022, supplies from abroad of lifts, elevators, moving stairways and draglines decreased by -19.4% to X units for the first time since 2019, thus ending a two-year rising trend. In general, imports, however, posted a prominent expansion. The growth pace was the most rapid in 2017 when imports increased by 37% against the previous year. As a result, imports attained the peak of X units. From 2018 to 2022, the growth of imports failed to regain momentum.

In value terms, lift, elevator, stairway and dragline imports reduced sharply to $X in 2022. Over the period under review, imports saw a noticeable decline. The growth pace was the most rapid in 2021 with an increase of 19% against the previous year. Over the period under review, imports reached the peak figure at $X in 2014; however, from 2015 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, the United Arab Emirates (X units) and Qatar (X units) were the largest importers of lifts, elevators, moving stairways and draglines in the Middle East, together accounting for approx. 51% of total imports. It was distantly followed by Bahrain (X units), Israel (X units), Turkey (X units), Kuwait (X units) and Iran (X units), together creating a 41% share of total imports.

From 2012 to 2022, the biggest increases were recorded for Bahrain (with a CAGR of +8.1%), while purchases 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, with a combined 50% share of total imports.

In terms of the main importing countries, Israel, with a CAGR of +5.1%, 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

The import price in the Middle East stood at $X per unit in 2022, growing by 2.8% against the previous year. In general, the import price, however, continues to indicate a abrupt decrease. The most prominent rate of growth was recorded in 2018 an increase of 39% against the previous year. The level of import peaked at $X per unit in 2012; however, from 2013 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 Israel (-2.3%), while the other leaders experienced a decline in the import price figures.

Source: IndexBox Platform

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