Oman: Loading Machinery Market 2024

Loading Machinery Exports

Exports from Oman

In 2022, approx. X units of lifting, handling, loading or unloading machinery were exported from Oman; growing by 125% compared with the previous year's figure. Over the period under review, exports, however, recorded a abrupt decline. The most prominent rate of growth was recorded in 2015 when exports increased by 2,150%. Over the period under review, the exports reached the maximum at X units in 2012; however, from 2013 to 2022, the exports remained at a lower figure.

In value terms, loading machinery exports skyrocketed to $X in 2022. In general, exports, however, showed a deep contraction. The most prominent rate of growth was recorded in 2015 with an increase of 3,424% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for loading machinery exports from Oman, with a 45% share of total exports. Moreover, loading machinery exports to the United Arab Emirates exceeded the volume sent to the second major destination, Italy (X units), threefold. The third position in this ranking was taken by Qatar (X units), with a 14% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to the United Arab Emirates amounted to -1.7%. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-16.1% per year) and Qatar (0.0% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for lifting, handling, loading or unloading machinery exports from Oman, comprising 43% of total exports. The second position in the ranking was held by Qatar ($X), with a 21% share of total exports. It was followed by the United States, with a 7.9% share.

From 2012 to 2022, the average annual growth rate of value to the United Arab Emirates stood at +11.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Qatar (+3.0% per year) and the United States (+22.1% per year).

Export Prices by Country

The average loading machinery export price stood at $X per unit in 2022, surging by 50% against the previous year. Over the period under review, the export price continues to indicate a buoyant increase. The export price peaked at $X per unit in 2018; however, from 2019 to 2022, the export prices stood at a somewhat lower figure.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Germany ($X per unit), while the average price for exports to Italy ($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 South Korea (+108.3%), while the prices for the other major destinations experienced more modest paces of growth.

Loading Machinery Imports

Imports into Oman

Loading machinery imports into Oman fell rapidly to X units in 2022, with a decrease of -22.8% on the previous year's figure. Overall, imports, however, continue to indicate slight growth. The most prominent rate of growth was recorded in 2017 with an increase of 456% 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, loading machinery imports fell notably to $X in 2022. Over the period under review, imports, however, saw noticeable growth. The most prominent rate of growth was recorded in 2017 when imports increased by 368%. As a result, imports attained the peak of $X. From 2018 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X units), South Korea (X units) and Kuwait (X units) were the main suppliers of loading machinery imports to Oman, with a combined 59% share of total imports. The Netherlands, India, China, Iran, Germany, the United States, Egypt, Australia and Malaysia lagged somewhat behind, together comprising a further 30%.

From 2012 to 2022, the biggest increases were recorded for Egypt (with a CAGR of +44.2%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) constituted the largest supplier of lifting, handling, loading or unloading machinery to Oman, comprising 35% of total imports. The second position in the ranking was taken by South Korea ($X), with a 16% share of total imports. It was followed by Germany, with a 7.3% share.

From 2012 to 2022, the average annual growth rate of value from the United Arab Emirates totaled +11.3%. The remaining supplying countries recorded the following average annual rates of imports growth: South Korea (-6.0% per year) and Germany (+17.1% per year).

Import Prices by Country

In 2022, the average loading machinery import price amounted to $X per unit, shrinking by -9.8% against the previous year. In general, import price indicated a measured expansion from 2012 to 2022: its price increased at an average annual rate of +3.2% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, loading machinery import price increased by +30.8% against 2018 indices. The most prominent rate of growth was recorded in 2016 when the average import price increased by 29% against the previous year. The import price peaked at $X per unit in 2021, and then reduced in the following year.

Prices varied noticeably by country of origin: amid the top importers, the country with the highest price was Germany ($X per unit), while the price for Kuwait ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by China (+13.5%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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