Oman: Market for Mechanical Shovels, Excavators And Shovel Loaders 2024

Market Size for Mechanical Shovels, Excavators And Shovel Loaders in Oman

In 2021, the Omani mechanical shovel and excavator market increased by 20% to $X for the first time since 2018, thus ending a two-year declining trend. Overall, consumption, however, showed a deep slump. Over the period under review, the market hit record highs at $X in 2015; however, from 2016 to 2021, consumption remained at a lower figure.

Production of Mechanical Shovels, Excavators And Shovel Loaders in Oman

In value terms, mechanical shovel and excavator production reduced notably to $X in 2021 estimated in export price. In general, production continues to indicate a dramatic downturn. Over the period under review, production hit record highs at $X in 2020, and then fell rapidly in the following year.

Exports of Mechanical Shovels, Excavators And Shovel Loaders

Exports from Oman

In 2021, after four years of growth, there was significant decline in shipments abroad of mechanical shovels, excavators and shovel loaders, when their volume decreased by -18.9% to X units. In general, exports, however, continue to indicate a relatively flat trend pattern. The pace of growth appeared the most rapid in 2017 with an increase of 153% against the previous year. Over the period under review, the exports reached the peak figure at X units in 2020, and then reduced rapidly in the following year.

In value terms, mechanical shovel and excavator exports contracted sharply to $X in 2021. Overall, exports showed a relatively flat trend pattern. The most prominent rate of growth was recorded in 2017 with an increase of 259% against the previous year. Over the period under review, the exports attained the peak figure at $X in 2020, and then declined remarkably in the following year.

Exports by Country

Bahrain (X units) was the main destination for mechanical shovel and excavator exports from Oman, with a 83% share of total exports. Moreover, mechanical shovel and excavator exports to Bahrain exceeded the volume sent to the second major destination, South Africa (X units), more than tenfold. The United Arab Emirates (X units) ranked third in terms of total exports with a 4% share.

From 2012 to 2021, the average annual growth rate of volume to Bahrain totaled +73.0%. Exports to the other major destinations recorded the following average annual rates of exports growth: South Africa (+28.7% per year) and the United Arab Emirates (-12.0% per year).

In value terms, Iran ($X), the United Arab Emirates ($X) and South Africa ($X) were the largest markets for mechanical shovel and excavator exported from Oman worldwide, together comprising 72% of total exports. Kuwait, Qatar, Somalia, Egypt, Saudi Arabia and Bahrain lagged somewhat behind, together comprising a further 12%.

In terms of the main countries of destination, Somalia, with a CAGR of +56.5%, recorded the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average mechanical shovel and excavator export price stood at $X per unit in 2021, stabilizing at the previous year. Overall, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2013 when the average export price increased by 84% against the previous year. As a result, the export price attained the peak level of $X per unit. From 2014 to 2021, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, amid the top suppliers, the country with the highest price was Kuwait ($X per unit), while the average price for exports to Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Somalia (+113.4%), while the prices for the other major destinations experienced more modest paces of growth.

Imports of Mechanical Shovels, Excavators And Shovel Loaders

Imports into Oman

In 2021, approx. X units of mechanical shovels, excavators and shovel loaders were imported into Oman; with an increase of 25% compared with the year before. Overall, imports, however, recorded a abrupt downturn. The pace of growth was the most pronounced in 2015 when imports increased by 38% against the previous year. As a result, imports attained the peak of X units. From 2016 to 2021, the growth of imports failed to regain momentum.

In value terms, mechanical shovel and excavator imports soared to $X in 2021. Over the period under review, imports, however, continue to indicate a abrupt decrease. The pace of growth appeared the most rapid in 2014 when imports increased by 44% against the previous year. Over the period under review, imports attained the peak figure at $X in 2015; however, from 2016 to 2021, imports failed to regain momentum.

Imports by Country

In 2021, Saudi Arabia (X units) constituted the largest mechanical shovel and excavator supplier to Oman, with a 55% share of total imports. Moreover, mechanical shovel and excavator imports from Saudi Arabia exceeded the figures recorded by the second-largest supplier, China (X units), fivefold. The third position in this ranking was held by the United Arab Emirates (X units), with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from Saudi Arabia stood at +61.3%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+3.3% per year) and the United Arab Emirates (-17.0% per year).

In value terms, South Korea ($X), Japan ($X) and the United Arab Emirates ($X) appeared to be the largest mechanical shovel and excavator suppliers to Oman, with a combined 57% share of total imports. China, the UK, India, Italy, the United States and Saudi Arabia lagged somewhat behind, together accounting for a further 23%.

Among the main suppliers, China, with a CAGR of +14.9%, saw the highest growth rate of the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

In 2021, the average mechanical shovel and excavator import price amounted to $X per unit, rising by 9.8% against the previous year. Over the period under review, the import price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 an increase of 11% against the previous year. Over the period under review, average import prices hit record highs at $X per unit in 2012; however, from 2013 to 2021, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major supplying countries. In 2021, amid the top importers, the country with the highest price was Japan ($X per unit), while the price for Saudi Arabia ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by the United States (+34.2%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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