Middle East: Pneumatic Elevator Market 2024

Pneumatic Elevator Market Size in the Middle East

In 2022, after two years of growth, there was significant decline in the Middle Eastern pneumatic elevator market, when its value decreased by -15.1% to $X. Over the period under review, consumption continues to indicate buoyant growth. The level of consumption peaked at $X in 2021, and then reduced notably in the following year.

Pneumatic Elevator Production in the Middle East

In value terms, pneumatic elevator production contracted to $X in 2022 estimated in export price. Overall, production continues to indicate a prominent increase. The growth pace was the most rapid in 2017 when the production volume increased by 131% against the previous year. The level of production peaked at $X in 2019; however, from 2020 to 2022, production stood at a somewhat lower figure.

Pneumatic Elevator Exports

Exports in the Middle East

In 2022, exports of pneumatic elevators and conveyors in the Middle East declined to X units, with a decrease of -7% against the year before. Total exports indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +2.5% 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 +30.5% against 2020 indices. The pace of growth was the most pronounced in 2017 with an increase of 42% against the previous year. As a result, the exports reached the peak of X units. From 2018 to 2022, the growth of the exports remained at a somewhat lower figure.

In value terms, pneumatic elevator exports dropped to $X in 2022. Total exports indicated a temperate expansion from 2012 to 2022: its value increased at an average annual rate of +3.1% 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 +31.7% against 2020 indices. The pace of growth appeared the most rapid in 2017 with an increase of 75% against the previous year. The level of export peaked at $X in 2018; however, from 2019 to 2022, the exports stood at a somewhat lower figure.

Exports by Country

In 2022, Turkey (X units) represented the main exporter of pneumatic elevators and conveyors, making up 69% of total exports. Israel (X units) held a 14% share (based on physical terms) of total exports, which put it in second place, followed by the United Arab Emirates (14%).

From 2012 to 2022, average annual rates of growth with regard to pneumatic elevator exports from Turkey stood at +2.3%. At the same time, Israel (+21.5%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing exporter exported in the Middle East, with a CAGR of +21.5% from 2012-2022. The United Arab Emirates experienced a relatively flat trend pattern. From 2012 to 2022, the share of Israel increased by +11 percentage points.

In value terms, Turkey ($X) remains the largest pneumatic elevator supplier in the Middle East, comprising 71% of total exports. The second position in the ranking was held by Israel ($X), with a 15% share of total exports.

In Turkey, pneumatic elevator exports expanded at an average annual rate of +2.0% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Israel (+25.3% per year) and the United Arab Emirates (+4.3% per year).

Export Prices by Country

The export price in the Middle East stood at $X per unit in 2022, growing by 3.1% against the previous year. Over the period under review, the export price showed a relatively flat trend pattern. The growth pace was the most rapid in 2017 an increase of 23%. Over the period under review, the export prices hit record highs at $X per unit in 2018; however, from 2019 to 2022, the export prices failed to regain momentum.

Average prices varied noticeably amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Israel ($X per unit), while the United Arab Emirates ($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 (+3.6%), while the other leaders experienced mixed trends in the export price figures.

Pneumatic Elevator Imports

Imports in the Middle East

After two years of growth, supplies from abroad of pneumatic elevators and conveyors decreased by -9.9% to X units in 2022. Overall, imports, however, showed a resilient increase. The most prominent rate of growth was recorded in 2021 when imports increased by 202%. As a result, imports reached the peak of X units, and then reduced in the following year.

In value terms, pneumatic elevator imports fell rapidly to $X in 2022. In general, imports saw a deep contraction. The growth pace was the most rapid in 2020 when imports increased by 54%. Over the period under review, imports hit record highs at $X in 2012; however, from 2013 to 2022, imports failed to regain momentum.

Imports by Country

The United Arab Emirates prevails in imports structure, resulting at X units, which was approx. 72% of total imports in 2022. Iran (X units) took the second position in the ranking, followed by Bahrain (X units). All these countries together held near 15% share of total imports. The following importers - Turkey (X units), Qatar (X units), Israel (X units) and Kuwait (X units) - together made up 9.4% of total imports.

Imports into the United Arab Emirates increased at an average annual rate of +16.3% from 2012 to 2022. At the same time, Bahrain (+17.5%), Kuwait (+10.1%), Israel (+9.4%) and Iran (+5.0%) displayed positive paces of growth. Moreover, Bahrain emerged as the fastest-growing importer imported in the Middle East, with a CAGR of +17.5% from 2012-2022. Turkey experienced a relatively flat trend pattern. By contrast, Qatar (-19.0%) illustrated a downward trend over the same period. The United Arab Emirates (+38 p.p.) and Bahrain (+3.1 p.p.) significantly strengthened its position in terms of the total imports, while Iran, Turkey and Qatar saw its share reduced by -3%, -3.8% and -32.6% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Iran ($X) constitutes the largest market for imported pneumatic elevators and conveyors in the Middle East, comprising 37% of total imports. The second position in the ranking was held by Turkey ($X), with a 15% share of total imports. It was followed by the United Arab Emirates, with a 12% share.

In Iran, pneumatic elevator imports increased at an average annual rate of +6.7% over the period from 2012-2022. The remaining importing countries recorded the following average annual rates of imports growth: Turkey (-2.6% per year) and the United Arab Emirates (-8.9% per year).

Import Prices by Country

The import price in the Middle East stood at $X per unit in 2022, reducing by -7.7% against the previous year. In general, the import price saw a abrupt downturn. The growth pace was the most rapid in 2015 when the import price increased by 40%. As a result, import price reached the peak level of $X per unit. From 2016 to 2022, the 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 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 Kuwait (+4.0%), while the other leaders experienced mixed trends in the import price figures.

Source: IndexBox Platform

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