United Arab Emirates: Crane Market 2024

Crane Market Size in the United Arab Emirates

In 2022, the crane market in the United Arab Emirates was finally on the rise to reach $X for the first time since 2019, thus ending a two-year declining trend. Overall, consumption, however, continues to indicate a deep contraction. As a result, consumption attained the peak level of $X. From 2017 to 2022, the growth of the market remained at a somewhat lower figure.

Crane Exports

Exports from the United Arab Emirates

For the third year in a row, the United Arab Emirates recorded growth in overseas shipments of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, which increased by 4% to X units in 2022. In general, exports, however, recorded a relatively flat trend pattern. The most prominent rate of growth was recorded in 2018 when exports increased by 59% against the previous year. As a result, the exports attained the peak of X units. From 2019 to 2022, the growth of the exports failed to regain momentum.

In value terms, crane exports shrank modestly to $X in 2022. Overall, exports, however, showed a pronounced reduction. The pace of growth appeared the most rapid in 2018 when exports increased by 89%. As a result, the exports reached the peak of $X. From 2019 to 2022, the growth of the exports remained at a somewhat lower figure.

Exports by Country

India (X units) was the main destination for crane exports from the United Arab Emirates, with a 34% share of total exports. Moreover, crane exports to India exceeded the volume sent to the second major destination, Belgium (X units), threefold. The third position in this ranking was taken by Georgia (X units), with a 5.1% share.

From 2012 to 2022, the average annual rate of growth in terms of volume to India totaled +16.6%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+24.6% per year) and Georgia (+28.5% per year).

In value terms, India ($X) remains the key foreign market for derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane exports from the United Arab Emirates, comprising 45% of total exports. The second position in the ranking was held by Belgium ($X), with a 9.6% share of total exports. It was followed by Niger, with a 7.7% share.

From 2012 to 2022, the average annual growth rate of value to India stood at +6.4%. Exports to the other major destinations recorded the following average annual rates of exports growth: Belgium (+18.4% per year) and Niger (+249.5% per year).

Export Prices by Country

The average crane export price stood at $X per unit in 2022, with a decrease of -7.7% against the previous year. Overall, the export price continues to indicate a pronounced decrease. The growth pace was the most rapid in 2016 an increase of 21%. Over the period under review, the average export prices reached the maximum at $X per unit in 2012; however, from 2013 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top suppliers, the country with the highest price was Niger ($X per unit), while the average price for exports to Georgia ($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 Niger (+30.9%), while the prices for the other major destinations experienced more modest paces of growth.

Crane Imports

Imports into the United Arab Emirates

In 2022, after five years of decline, there was significant growth in overseas purchases of derricks, cranes, mobile lifting frames, straddle carriers and work trucks fitted with a crane, when their volume increased by 29% to X units. In general, imports, however, showed a noticeable downturn. The most prominent rate of growth was recorded in 2014 with an increase of 51%. Imports peaked at X units in 2016; however, from 2017 to 2022, imports remained at a lower figure.

In value terms, crane imports surged to $X in 2022. Over the period under review, imports, however, recorded a abrupt decline. The pace of growth was the most pronounced in 2016 with an increase of 73%. As a result, imports reached the peak of $X. From 2017 to 2022, the growth of imports failed to regain momentum.

Imports by Country

Japan (X units), China (X units) and Germany (X units) were the main suppliers of crane imports to the United Arab Emirates, with a combined 65% share of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Japan (with a CAGR of +8.5%), while imports for the other leaders experienced mixed trend patterns.

In value terms, the largest crane suppliers to the United Arab Emirates were Japan ($X), China ($X) and Germany ($X), together accounting for 49% of total imports. Italy, India, the United States and Turkey lagged somewhat behind, together comprising a further 15%.

Turkey, with a CAGR of -0.2%, recorded 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 a decline.

Import Prices by Country

In 2022, the average crane import price amounted to $X per unit, growing by 3.8% against the previous year. Overall, the import price, however, showed a perceptible setback. The most prominent rate of growth was recorded in 2019 an increase of 29%. The import price peaked at $X per unit in 2012; however, from 2013 to 2022, import prices stood at a somewhat lower figure.

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

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+0.5%), while the prices for the other major suppliers experienced a decline.

Source: IndexBox Platform

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