Oman: Lift And Hoist Market 2024

Lift And Hoist Market Size in Oman

In 2022, the Omani lift and hoist market increased by 15% to $X for the first time since 2018, thus ending a three-year declining trend. Overall, consumption, however, showed a slight slump. Over the period under review, the market attained the maximum level at $X in 2015; however, from 2016 to 2022, consumption stood at a somewhat lower figure.

Lift And Hoist Exports

Exports from Oman

In 2022, the amount of lifts and hoists exported from Oman fell to X units, reducing by -14.3% compared with 2021 figures. Overall, exports, however, recorded temperate growth. The most prominent rate of growth was recorded in 2017 when exports increased by 80%. The exports peaked at X units in 2020; however, from 2021 to 2022, the exports stood at a somewhat lower figure.

In value terms, lift and hoist exports declined to $X in 2022. Over the period under review, exports, however, showed perceptible growth. The pace of growth was the most pronounced in 2015 when exports increased by 545% against the previous year. Over the period under review, the exports reached the peak figure at $X in 2021, and then declined in the following year.

Exports by Country

The United Arab Emirates (X units), Vietnam (X units) and Tanzania (X units) were the main destinations of lift and hoist exports from Oman, together comprising 67% of total exports. Moreover, lift and hoist exports in the United Arab Emirates exceeded the figures recorded by the second-largest exporter, Vietnam, twofold.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +7.2%), while shipments for the other leaders experienced more modest paces of growth.

In value terms, the United Arab Emirates ($X) remains the key foreign market for lifts and hoists exports from Oman, comprising 78% of total exports. The second position in the ranking was taken by Vietnam ($X), with a 12% share of total exports. It was followed by Qatar, with a 5.5% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +5.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (+2.7% per year) and Qatar (-12.6% per year).

Export Prices by Country

The average lift and hoist export price stood at $X per unit in 2022, increasing by 9.6% against the previous year. Over the period under review, the export price, however, continues to indicate a slight setback. The most prominent rate of growth was recorded in 2015 when the average export price increased by 303% against the previous year. The export price peaked at $X per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices for the major overseas markets. In 2022, amid the top suppliers, the country with the highest price was the United Arab Emirates ($X per unit), while the average price for exports to Tanzania ($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 Vietnam (+2.7%), while the prices for the other major destinations experienced a decline.

Lift And Hoist Imports

Imports into Oman

In 2022, supplies from abroad of lifts and hoists was finally on the rise to reach X units after three years of decline. Overall, total imports indicated a slight increase from 2012 to 2022: its volume increased at an average annual rate of +1.3% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports decreased by -45.7% against 2018 indices. The pace of growth appeared the most rapid in 2014 when imports increased by 43% against the previous year. Over the period under review, imports reached the peak figure at X units in 2018; however, from 2019 to 2022, imports failed to regain momentum.

In value terms, lift and hoist imports expanded notably to $X in 2022. In general, imports, however, saw a slight curtailment. The growth pace was the most rapid in 2015 with an increase of 26% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2022, the growth of imports remained at a somewhat lower figure.

Imports by Country

China (X units), the United Arab Emirates (X units) and Turkey (X units) were the main suppliers of lift and hoist imports to Oman, together accounting for 76% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by the United Arab Emirates (with a CAGR of +25.0%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lift and hoist suppliers to Oman were China ($X), the United Arab Emirates ($X) and Turkey ($X), together accounting for 72% of total imports.

The United Arab Emirates, with a CAGR of +27.3%, saw the highest rates of growth with regard to the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average lift and hoist import price stood at $X per unit in 2022, reducing by -2.9% against the previous year. In general, the import price saw a noticeable curtailment. The growth pace was the most rapid in 2015 when the average import price increased by 19%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by France (+17.7%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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