GCC: Market for Fork-Lift Trucks and Other Industrial Works Trucks and Tractors 2024

Exports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Exports in GCC

In 2022, after two years of growth, there was significant decline in shipments abroad of fork-lift trucks and other industrial works trucks and tractors, when their volume decreased by X% to X units. Over the period under review, exports, however, recorded significant growth. The pace of growth was the most pronounced in 2021 with an increase of X%. As a result, the exports reached the peak of X units, and then contracted significantly in the following year.

In value terms, exports of fork-lift trucks and other industrial works trucks and tractors expanded remarkably to $X in 2022. The total export value increased at an average annual rate of X% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth was the most pronounced in 2020 with an increase of X%. The level of export peaked at $X in 2017; however, from 2018 to 2022, the exports failed to regain momentum.

Exports by Country

The United Arab Emirates dominates tractors structure, amounting to X units, which was near X% of total exports in 2022. Saudi Arabia (X units) took the second position in the ranking, followed by Kuwait (X units) and Qatar (X units). All these countries together held near X% share of total exports. Oman (X units) followed a long way behind the leaders.

The United Arab Emirates was also the fastest-growing in terms of the fork-lift trucks and other industrial works trucks and tractors exports, with a CAGR of X% from 2012 to 2022. At the same time, Kuwait (X%), Saudi Arabia (X%), Qatar (X%) and Oman (X%) displayed positive paces of growth. The United Arab Emirates (X p.p.) significantly strengthened its position in terms of the total exports, while Oman, Qatar and Saudi Arabia saw its share reduced by X%, X% and X% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, the United Arab Emirates ($X), Saudi Arabia ($X) and Kuwait ($X) appeared to be the countries with the highest levels of exports in 2022, together comprising X% of total exports.

Kuwait, with a CAGR of X%, saw the highest growth rate of the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

In 2022, the export price in GCC amounted to $X per unit, jumping by X% against the previous year. Over the period under review, the export price, however, recorded a deep reduction. Over the period under review, the export prices hit record highs at $X per unit in 2012; however, from 2013 to 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Oman ($X per unit), while the United Arab Emirates ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Oman (X%), while the other leaders experienced a decline in the export price figures.

Imports of Fork-Lift Trucks and Other Industrial Works Trucks and Tractors

Imports in GCC

After three years of growth, overseas purchases of fork-lift trucks and other industrial works trucks and tractors decreased by X% to X units in 2022. In general, imports, however, recorded resilient growth. The most prominent rate of growth was recorded in 2021 with an increase of X% against the previous year. As a result, imports attained the peak of X units, and then declined remarkably in the following year.

In value terms, imports of fork-lift trucks and other industrial works trucks and tractors amounted to $X in 2022. Over the period under review, imports continue to indicate a perceptible contraction. The pace of growth was the most pronounced in 2014 with an increase of X% against the previous year. The level of import peaked at $X in 2015; however, from 2016 to 2022, imports stood at a somewhat lower figure.

Imports by Country

The United Arab Emirates (X units) and Saudi Arabia (X units) dominates tractors structure, together making up X% of total imports. Oman (X units) held the next position in the ranking, followed by Qatar (X units) and Kuwait (X units). All these countries together took approx. X% share of total imports. Bahrain (X units) took a relatively small share of total imports.

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

In value terms, the largest forklift truck and industrial works truck importing markets in GCC were the United Arab Emirates ($X), Saudi Arabia ($X) and Qatar ($X), with a combined X% share of total imports.

Qatar, with a CAGR of X%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other leaders experienced more modest paces of growth.

Import Prices by Country

In 2022, the import price in GCC amounted to $X per unit, rising by X% against the previous year. In general, the import price, however, saw a deep reduction. The pace of growth appeared the most rapid in 2018 an increase of X%. As a result, import price attained the peak level of $X per unit. From 2019 to 2022, the import prices failed to regain momentum.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was Qatar ($X per unit), while Bahrain ($X per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Qatar (X%), while the other leaders experienced a decline in the import price figures.

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Source: IndexBox Platform

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