The Libyan Lifting Equipment Market is rapidly declining to $X in 2021, down -X% from the previous year. This figure reflects the total revenue of producers and importers (excluding logistics costs, retail marketing costs and retailer profits, which will be included in the final consumer price). Overall, consumption recorded a marked decline. Lifting equipment consumption peaked at $X in 2018; however, consumption failed to regain momentum from 2019 to 2021.
In 2021, approximately X less hoisting equipment will be exported from Libya; standing approximately in the previous year's figure. Overall, exports showed a relatively flat trend pattern. The most notable growth rate occurred in 2017, with an X% increase compared to the previous year. During the review period, exports reached the highest number of X units in 2015; however, from 2016 to 2021, exports failed to regain momentum.
In value terms, 2021 hoisting equipment exports will total less than $X. During the review period, exports fell sharply. Exports peaked at $X in 2015; however, from 2016 to 2021, exports have remained low.
Malta (X units) is the main destination for Libyan lifting equipment exports, accounting for about 10%. X% of total exports.
From 2012 to 2017, the average annual growth rate of exports to Malta was relatively modest.
From 2012 to 2017, the average annual growth rate in value to Malta was relatively modest.
In 2021, the number of hoisting equipment imported into Libya will be significantly reduced to X units, which is -X% lower than the previous year. Overall, imports fell sharply. The most significant growth rate occurred in 2016, with an increase of X%. Imports peaked at X units in 2018; however, from 2019 to 2021, imports decreased slightly.
In value terms, hoisting equipment imports fell slightly to $X in 2021. Imports contracted significantly during the review period. The fastest growth was recorded in 2016, with imports increasing by X%. During the period under review, imports peaked at $X in 2018; however, imports remain at lower levels from 2019 to 2021.
Turkey (unit X), Malta (unit X) and the Netherlands (unit X) were the main suppliers of lifting equipment to Libya, together accounting for X% of total imports.
From 2012 to 2021, the largest increase was in Malta (+X% CAGR), while other leaders saw more modest growth in purchasing.
Malta (USD X) is the largest supplier of lifting equipment to Libya by value, representing X% of total imports. In second place is Turkey ($X) with X% of total imports. It is followed by the Netherlands with an X% share.
From 2012 to 2021, the average annual growth rate of the value of Malta is +X%. The average annual growth rates of imports for the remaining supplier countries are as follows: Turkey (-X% per annum) and the Netherlands (+X% per annum).
Malta is Libya's largest supplier of lifting equipment by value, accounting for 59% of total imports. In second place is Turkey, which accounts for 17% of total imports. It is followed by the Netherlands with a 17% share.
In 2017, the average export price of lifting equipment was US$744/unit, a year-on-year decrease of -32.1%.
The average import price of hoisting equipment in 2021 is $4,782 per unit, up 55% from the previous year.
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