Oman: Crane Market 2024

Crane Market Size in Oman

The Omani crane market fell to $X in 2022, shrinking by -10.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption, however, saw a noticeable decrease. Over the period under review, the market attained the peak level at $X in 2013; however, from 2014 to 2022, consumption stood at a somewhat lower figure.

Crane Exports

Exports from Oman

In 2022, approx. X units of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane were exported from Oman; surging by 27% compared with the previous year's figure. Over the period under review, exports showed significant growth. The growth pace was the most rapid in 2013 with an increase of 956% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, crane exports surged to $X in 2022. In general, exports enjoyed a significant expansion. The pace of growth appeared the most rapid in 2013 with an increase of 988%. Over the period under review, the exports hit record highs at $X in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

Exports by Country

The United Arab Emirates (X units), China (X units) and Qatar (X units) were the main destinations of crane exports from Oman, with a combined 68% share of total exports.

From 2012 to 2022, the biggest increases were recorded for China (with a CAGR of +144.9%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X), China ($X) and Egypt ($X) appeared to be the largest markets for crane exported from Oman worldwide, with a combined 71% share of total exports.

China, with a CAGR of +136.8%, recorded the highest rates of growth with regard to the value of exports, in terms of the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the average crane export price amounted to $X per unit, shrinking by -7.5% against the previous year. Overall, the export price showed a perceptible reduction. The most prominent rate of growth was recorded in 2018 an increase of 71%. Over the period under review, the average export prices reached the peak figure at $X per unit in 2012; however, from 2013 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Egypt ($X per unit), while the average price for exports to India ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was recorded for supplies to Tanzania (+26.9%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into Oman

In 2022, supplies from abroad of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane increased by 5.1% to X units, rising for the second consecutive year after two years of decline. Overall, imports, however, showed a noticeable decrease. The pace of growth was the most pronounced in 2015 with an increase of 104%. Over the period under review, imports hit record highs at X units in 2013; however, from 2014 to 2022, imports failed to regain momentum.

In value terms, crane imports shrank significantly to $X in 2022. Over the period under review, imports, however, continue to indicate a noticeable slump. The most prominent rate of growth was recorded in 2015 when imports increased by 96% against the previous year. Imports peaked at $X in 2013; however, from 2014 to 2022, imports failed to regain momentum.

Imports by Country

In 2022, China (X units) constituted the largest supplier of crane to Oman, with a 42% share of total imports. Moreover, crane imports from China exceeded the figures recorded by the second-largest supplier, the United Arab Emirates (X units), twofold. The third position in this ranking was taken by Ireland (X units), with a 16% share.

From 2012 to 2022, the average annual rate of growth in terms of volume from China totaled +39.8%. The remaining supplying countries recorded the following average annual rates of imports growth: the United Arab Emirates (-11.0% per year) and Ireland (+89.4% per year).

In value terms, the largest crane suppliers to Oman were China ($X), Ireland ($X) and the United Arab Emirates ($X), with a combined 75% share of total imports.

Among the main suppliers, Ireland, with a CAGR of +123.4%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced mixed trend patterns.

Import Prices by Country

In 2022, the average crane import price amounted to $X per unit, shrinking by -19.9% against the previous year. In general, the import price showed a slight descent. The pace of growth was the most pronounced in 2021 when the average import price increased by 28%. Over the period under review, average import prices reached the peak figure at $X per unit in 2019; however, from 2020 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was Germany ($X per unit), while the price for the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Ireland (+17.2%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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