Oman: Market for Lifts, Elevators, Moving Stairways and Draglines 2024

Market Size for Lifts, Elevators, Moving Stairways and Draglines in Oman

In 2022, the Omani market for lifts, elevators, moving stairways and draglines decreased by -34.9% to $X, falling for the fourth consecutive year after two years of growth. In general, consumption saw a perceptible reduction. Over the period under review, the market attained the peak level at $X in 2018; however, from 2019 to 2022, consumption remained at a lower figure.

Exports of Lifts, Elevators, Moving Stairways and Draglines

Exports from Oman

In 2022, the amount of lifts, elevators, moving stairways and draglines exported from Oman stood at X units, therefore, remained relatively stable against 2021 figures. Over the period under review, exports posted buoyant growth. The growth pace was the most rapid in 2017 with an increase of 157%. As a result, the exports attained the peak of X units. From 2018 to 2022, the growth of the exports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline exports stood at $X in 2022. Overall, exports enjoyed a buoyant expansion. The most prominent rate of growth was recorded in 2017 with an increase of 414%. As a result, the exports attained the peak of $X. From 2018 to 2022, the growth of the exports failed to regain momentum.

Exports by Country

The United Arab Emirates (X units) was the main destination for lift, elevator, stairway and dragline exports from Oman, accounting for a 50% share of total exports. Moreover, lift, elevator, stairway and dragline exports to the United Arab Emirates exceeded the volume sent to the second major destination, Vietnam (X units), sixfold. Tanzania (X units) ranked third in terms of total exports with an 8.3% share.

From 2012 to 2022, the average annual growth rate of volume to the United Arab Emirates totaled +19.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (0.0% per year) and Tanzania (0.0% per year).

In value terms, the United Arab Emirates ($X) remains the key foreign market for lifts, elevators, moving stairways and draglines exports from Oman, comprising 77% of total exports. The second position in the ranking was held by Vietnam ($X), with an 8.7% share of total exports. It was followed by India, with a 7.1% share.

From 2012 to 2022, the average annual rate of growth in terms of value to the United Arab Emirates amounted to +44.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: Vietnam (-2.2% per year) and India (-9.6% per year).

Export Prices by Country

The average export price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, rising by 12% against the previous year. In general, the export price saw strong growth. The most prominent rate of growth was recorded in 2017 when the average export price increased by 99.9% against the previous year. 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 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 the United Arab Emirates (+20.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Lifts, Elevators, Moving Stairways and Draglines

Imports into Oman

In 2022, imports of lifts, elevators, moving stairways and draglines into Oman declined notably to X units, with a decrease of -30% against 2021 figures. Over the period under review, imports saw a slight downturn. The most prominent rate of growth was recorded in 2017 with an increase of 127% against the previous year. As a result, imports reached the peak of X units. From 2018 to 2022, the growth of imports remained at a lower figure.

In value terms, lift, elevator, stairway and dragline imports shrank notably to $X in 2022. Overall, imports showed a abrupt contraction. The most prominent rate of growth was recorded in 2013 with an increase of 24%. Over the period under review, imports hit record highs at $X in 2018; however, from 2019 to 2022, imports remained at a lower figure.

Imports by Country

The United Arab Emirates (X units), China (X units) and India (X units) were the main suppliers of lift, elevator, stairway and dragline imports to Oman, together accounting for 79% of total imports.

From 2012 to 2022, the biggest increases were recorded for the United Arab Emirates (with a CAGR of +27.6%), while purchases for the other leaders experienced more modest paces of growth.

In value terms, the largest lift, elevator, stairway and dragline suppliers to Oman were China ($X), the United Arab Emirates ($X) and Turkey ($X), together comprising 66% of total imports.

In terms of the main suppliers, the United Arab Emirates, with a CAGR of +19.6%, recorded the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

The average import price for lifts, elevators, moving stairways and draglines stood at $X per unit in 2022, reducing by -12.3% against the previous year. Over the period under review, the import price saw a pronounced curtailment. The most prominent rate of growth was recorded in 2018 when the average import price increased by 31% against the previous year. Over the period under review, average import prices attained the maximum at $X per unit in 2012; however, from 2013 to 2022, import prices failed to regain momentum.

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 Thailand ($X per unit), while the price for Switzerland ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Turkey (+6.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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