Middle East: Overhead Travelling Crane Market 2024

Overhead Travelling Crane Market Size in the Middle East

In 2022, the Middle Eastern overhead travelling crane market decreased by -17.4% to $X, falling for the second consecutive year after three years of growth. The total consumption indicated a measured expansion from 2012 to 2022: its value increased at an average annual rate of +2.6% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption decreased by -30.2% against 2020 indices. Over the period under review, the market hit record highs at $X in 2020; however, from 2021 to 2022, consumption failed to regain momentum.

Overhead Travelling Crane Production in the Middle East

In value terms, overhead travelling crane production declined notably to $X in 2022 estimated in export price. Over the period under review, production, however, posted resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of 55% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production failed to regain momentum.

Overhead Travelling Crane Exports

Exports in the Middle East

In 2022, shipments abroad of overhead travelling cranes on fixed support decreased by -2.2% to X units for the first time since 2019, thus ending a two-year rising trend. Total exports indicated a noticeable increase from 2012 to 2022: its volume increased at an average annual rate of +3.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +36.4% against 2019 indices. The most prominent rate of growth was recorded in 2015 with an increase of 79%. Over the period under review, the exports reached the maximum at X units in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

In value terms, overhead travelling crane exports reached $X in 2022. Total exports indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +22.3% against 2019 indices. The pace of growth was the most pronounced in 2015 when exports increased by 59% against the previous year. Over the period under review, the exports hit record highs at $X in 2018; however, from 2019 to 2022, the exports failed to regain momentum.

Exports by Country

Turkey prevails in exports structure, reaching X units, which was approx. 77% of total exports in 2022. The United Arab Emirates (X units) held the second position in the ranking, followed by Kuwait (X units). All these countries together took approx. 15% share of total exports. Israel (X units) held a minor share of total exports.

Exports from Turkey increased at an average annual rate of +3.3% from 2012 to 2022. At the same time, Israel (+33.9%), Kuwait (+6.4%) and the United Arab Emirates (+1.7%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +33.9% from 2012-2022. Israel (+3.8 p.p.) and Kuwait (+1.6 p.p.) significantly strengthened its position in terms of the total exports, while the United Arab Emirates saw its share reduced by -1.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Turkey ($X) remains the largest overhead travelling crane supplier in the Middle East, comprising 81% of total exports. The second position in the ranking was held by the United Arab Emirates ($X), with a 9.1% share of total exports. It was followed by Israel, with a 5.5% share.

In Turkey, overhead travelling crane exports expanded at an average annual rate of +1.3% over the period from 2012-2022. The remaining exporting countries recorded the following average annual rates of exports growth: the United Arab Emirates (-4.5% per year) and Israel (+53.6% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, increasing by 8.4% against the previous year. In general, the export price, however, continues to indicate a pronounced curtailment. The most prominent rate of growth was recorded in 2014 an increase of 15%. As a result, the export price attained the peak level of $X per unit. From 2015 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 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 Israel (+14.7%), while the other leaders experienced mixed trends in the export price figures.

Overhead Travelling Crane Imports

Imports in the Middle East

In 2022, the amount of overhead travelling cranes on fixed support imported in the Middle East plummeted to X units, dropping by -41.9% on the previous year's figure. Overall, imports faced a abrupt decline. The most prominent rate of growth was recorded in 2020 when imports increased by 459%. The volume of import peaked at X units in 2012; however, from 2013 to 2022, imports remained at a lower figure.

In value terms, overhead travelling crane imports shrank notably to $X in 2022. In general, imports showed a pronounced contraction. The pace of growth was the most pronounced in 2020 when imports increased by 329%. As a result, imports attained the peak of $X. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

Qatar dominates imports structure, resulting at X units, which was near 60% of total imports in 2022. Turkey (X units) held the second position in the ranking, followed by the United Arab Emirates (X units), Oman (X units), Bahrain (X units) and Iraq (X units). All these countries together held near 31% share of total imports. Iran (X units) followed a long way behind the leaders.

Imports into Qatar decreased at an average annual rate of -13.6% from 2012 to 2022. At the same time, Bahrain (+18.5%), the United Arab Emirates (+11.8%), Turkey (+4.6%) and Oman (+2.9%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +18.5% from 2012-2022. Iraq experienced a relatively flat trend pattern. By contrast, Iran (-6.0%) illustrated a downward trend over the same period. While the share of Turkey (+5.9 p.p.), the United Arab Emirates (+5.9 p.p.), Bahrain (+4.9 p.p.), Oman (+4.7 p.p.) and Iraq (+3.1 p.p.) increased significantly in terms of the total imports from 2012-2022, the share of Qatar (-27.3 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) constitutes the largest market for imported overhead travelling cranes on fixed support in the Middle East, comprising 23% of total imports. The second position in the ranking was held by the United Arab Emirates ($X), with an 11% share of total imports. It was followed by Turkey, with a 9.2% share.

From 2012 to 2022, the average annual growth rate of value in Iran totaled +8.2%. The remaining importing countries recorded the following average annual rates of imports growth: the United Arab Emirates (-3.4% per year) and Turkey (+1.0% per year).

Import Prices by Country

In 2022, the import price in the Middle East amounted to $X per unit, falling by -6.7% against the previous year. In general, the import price, however, posted a buoyant increase. The most prominent rate of growth was recorded in 2013 when the import price increased by 169%. The level of import peaked at $X per unit in 2014; however, from 2015 to 2022, import prices failed to regain momentum.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Iran (+15.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Platform

Frequently Asked Questions (FAQ) :