United Arab Emirates: Lifting Equipment Market 2024

Lifting Equipment Market Size in the United Arab Emirates

The lifting equipment market in the United Arab Emirates surged to $X in 2021, picking up by 143% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, consumption showed a mild increase. Lifting equipment consumption peaked in 2021 and is expected to retain growth in the near future.

Lifting Equipment Exports

Exports from the United Arab Emirates

Lifting equipment exports from the United Arab Emirates declined notably to X units in 2021, which is down by -90.6% against 2020 figures. Over the period under review, exports faced a dramatic slump. The pace of growth was the most pronounced in 2020 when exports increased by 639%. The exports peaked at X units in 2014; however, from 2015 to 2021, the exports stood at a somewhat lower figure.

In value terms, lifting equipment exports declined dramatically to $X in 2021. In general, exports saw a deep slump. The pace of growth was the most pronounced in 2020 when exports increased by 443% against the previous year. Over the period under review, the exports reached the maximum at $X in 2015; however, from 2016 to 2021, the exports stood at a somewhat lower figure.

Exports by Country

Spain (X units) was the main destination for lifting equipment exports from the United Arab Emirates, with a 48% share of total exports. Moreover, lifting equipment exports to Spain exceeded the volume sent to the second major destination, Italy (X units), twofold. Tanzania (X units) ranked third in terms of total exports with an 8.7% share.

From 2012 to 2021, the average annual growth rate of volume to Spain was relatively modest. Exports to the other major destinations recorded the following average annual rates of exports growth: Italy (-38.8% per year) and Tanzania (-14.3% per year).

In value terms, the largest markets for lifting equipment exported from the United Arab Emirates were Italy ($X), Tanzania ($X) and Spain ($X), with a combined 55% share of total exports.

Spain, with a CAGR of +120.1%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced a decline.

Export Prices by Country

The average lifting equipment export price stood at $X per unit in 2021, jumping by 245% against the previous year. Overall, the export price recorded a resilient increase. The pace of growth was the most pronounced in 2015 an increase of 482%. Over the period under review, the average export prices attained the peak figure in 2021 and is expected to retain growth in the near future.

There were significant differences in the average prices for the major external markets. In 2021, amid the top suppliers, the country with the highest price was Tanzania ($X per unit), while the average price for exports to Zimbabwe ($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 Iran (+96.4%), while the prices for the other major destinations experienced more modest paces of growth.

Lifting Equipment Imports

Imports into the United Arab Emirates

In 2021, purchases abroad of lifting equipment increased by 76% to X units, rising for the second consecutive year after two years of decline. In general, imports recorded a resilient expansion. The pace of growth appeared the most rapid in 2014 when imports increased by 102% against the previous year. Over the period under review, imports hit record highs in 2021 and are likely to see gradual growth in the immediate term.

In value terms, lifting equipment imports surged to $X in 2021. Over the period under review, imports, however, recorded a perceptible reduction. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.

Imports by Country

China (X units), Oman (X units) and Italy (X units) were the main suppliers of lifting equipment imports to the United Arab Emirates, together comprising 74% of total imports.

From 2012 to 2021, the most notable rate of growth in terms of purchases, amongst the main suppliers, was attained by Oman (with a CAGR of +58.5%), while imports for the other leaders experienced more modest paces of growth.

In value terms, the largest lifting equipment suppliers to the United Arab Emirates were China ($X), Italy ($X) and Oman ($X), together accounting for 39% of total imports. These countries were followed by Slovenia, Germany, India, the Netherlands, the Czech Republic and the United States, which together accounted for a further 23%.

Among the main suppliers, Slovenia, with a CAGR of +31.4%, saw the highest rates of growth with regard to 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

In 2021, the average lifting equipment import price amounted to $X per unit, reducing by -5.7% against the previous year. Overall, the import price recorded a abrupt shrinkage. The most prominent rate of growth was recorded in 2018 when the average import price increased by 37%. As a result, import price reached the peak level of $X per unit. From 2019 to 2021, the average 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 India ($X per unit), while the price for Oman ($X per unit) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by India (+6.7%), while the prices for the other major suppliers experienced mixed trend patterns.

Source: IndexBox Platform

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