Saudi Arabia: Truck Crane Market 2024

Truck Crane Market Size in Saudi Arabia

The Saudi truck crane market contracted dramatically to $X in 2021, waning by -15.7% against the previous year. Overall, consumption showed a abrupt descent. Over the period under review, the market hit record highs at $X in 2013; however, from 2014 to 2021, consumption remained at a lower figure.

Truck Crane Production in Saudi Arabia

In value terms, truck crane production dropped to $X in 2021 estimated in export price. Over the period under review, production recorded a deep slump. The pace of growth appeared the most rapid in 2019 with an increase of 50% against the previous year. Over the period under review, production hit record highs at $X in 2013; however, from 2014 to 2021, production stood at a somewhat lower figure.

Truck Crane Exports

Exports from Saudi Arabia

In 2021, shipments abroad of truck cranes decreased by -20% to X units, falling for the third year in a row after three years of growth. In general, exports faced a dramatic decline. The growth pace was the most rapid in 2018 with an increase of 245% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2021, the growth of the exports failed to regain momentum.

In value terms, truck crane exports dropped markedly to $X in 2021. Over the period under review, exports recorded a dramatic shrinkage. The most prominent rate of growth was recorded in 2018 with an increase of 178% against the previous year. Over the period under review, the exports hit record highs at $X in 2012; however, from 2013 to 2021, the exports remained at a lower figure.

Exports by Country

Egypt (X units) and Algeria (X units) were the main destinations of truck crane exports from Saudi Arabia. Moreover, truck crane exports in Egypt exceeded the figures recorded by the second-largest exporter, Algeria, twofold.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Egypt (with a CAGR of +8.0%).

In value terms, the largest markets for truck crane exported from Saudi Arabia were Algeria ($X) and Egypt ($X).

In terms of the main countries of destination, Egypt, with a CAGR of +35.8%, saw the highest growth rate of the value of exports, over the period under review.

Export Prices by Country

In 2021, the average truck crane export price amounted to $X per unit, surging by 2.5% against the previous year. Overall, the export price, however, continues to indicate a pronounced downturn. The most prominent rate of growth was recorded in 2019 an increase of 199% against the previous year. Over the period under review, the average export prices hit record highs at $X per unit in 2014; however, from 2015 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, amid the top suppliers, the country with the highest price was Algeria ($X per unit), while the average price for exports to Egypt stood at $X per unit.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Italy (+155.0%), while the prices for the other major destinations experienced more modest paces of growth.

Truck Crane Imports

Imports into Saudi Arabia

In 2021, after two years of growth, there was significant decline in overseas purchases of truck cranes, when their volume decreased by -45.6% to X units. Over the period under review, imports faced a abrupt slump. The pace of growth was the most pronounced in 2020 when imports increased by 371% against the previous year. Imports peaked at X units in 2013; however, from 2014 to 2021, imports stood at a somewhat lower figure.

In value terms, truck crane imports skyrocketed to $X in 2021. In general, imports saw a drastic downturn. The pace of growth appeared the most rapid in 2019 when imports increased by 258% against the previous year. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

The Czech Republic (X units), China (X units) and Italy (X units) were the main suppliers of truck crane imports to Saudi Arabia, together comprising 85% of total imports.

From 2012 to 2021, the biggest increases were recorded for the Czech Republic (with a CAGR of +135.0%), while purchases for the other leaders experienced a decline.

In value terms, the Czech Republic ($X) constituted the largest supplier of truck cranes to Saudi Arabia, comprising 69% of total imports. The second position in the ranking was taken by China ($X), with a 21% share of total imports. It was followed by the United States, with a 3.3% share.

From 2012 to 2021, the average annual rate of growth in terms of value from the Czech Republic amounted to +164.7%. The remaining supplying countries recorded the following average annual rates of imports growth: China (+2.6% per year) and the United States (-17.9% per year).

Import Prices by Country

In 2021, the average truck crane import price amounted to $X per unit, picking up by 167% against the previous year. Over the period under review, the import price posted prominent growth. Over the period under review, average import prices reached the maximum at $X per unit in 2019; however, from 2020 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 Germany ($X per unit), while the price for Italy ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Japan (+50.0%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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