In 2021, the UAE lifting equipment market fell -X% to $X for the first time since 2017, ending a three-year upward trend. During the period under review, consumption declined significantly. During the period under review, the market hit an all-time high of $X in 2012; however, from 2013 to 2021, consumption has remained low.
Lifting equipment exports from the United Arab Emirates contracted to X units in 2021, down -X% compared to the previous year's figure. During the period under review, exports declined sharply. 2015 appears to have seen the fastest growth, with an X% increase over the previous year. During the period under review, exports reached a maximum of X units in 2017; however, from 2018 to 2021, exports failed to regain momentum.
In value terms, hoisting equipment exports fell rapidly to $X in 2021. Overall, exports fell sharply. The fastest growth in 2014 was X% over the previous year. During the period under review, exports hit an all-time high of $X in 2015; however, from 2016 to 2021, exports have been at lower levels.
Italy (X units) is the main destination for UAE lifting equipment exports, accounting for X% of total exports. In addition, the export of lifting equipment to Italy was more than double that to the second main destination, Tanzania (X units). In third place is Oman (X units) with an X% share.
From 2012 to 2021, the average annual growth rate of shipments to Italy will total -X%. Exports to other major destinations recorded the following average annual export growth rates: Tanzania (-X% per annum) and Oman (-X% per annum).
In value terms, Italy ($X), Tanzania ($X) and Spain ($X) appear to be the largest markets for the United Arab Emirates' export of lifting equipment globally, accounting for X% of total exports. Among the major destination countries, Spain, with a CAGR of +X%, had the highest export value growth rate during the period under review, while shipments from other leading countries declined.
In 2021, foreign supply of lifting equipment fell -X% to X units for the first time since 2016, ending a four-year upward trend. Overall, imports contracted significantly. The fastest growth was recorded in 2018, with imports increasing by X% year-on-year. Imports peaked at X units in 2012; however, from 2013 to 2021, imports decreased slightly.
Lifting equipment imports fell to X dollars in value in 2021. Overall, imports face a sudden contraction. The growth rate was most pronounced in 2017, with an X% increase. Imports peaked at $X in 2012; however, from 2013 to 2021, imports failed to regain momentum.
In 2021, Oman (X units) is the largest supplier of lifting equipment to the UAE, accounting for X% of total imports. In addition, hoisting equipment imported from Oman was nine times higher than the number recorded by the second largest supplier, Slovenia (X units). In third place is China (X units) with an X% share.
From 2012 to 2021, Oman's sales volume will grow at an average annual rate of +X%. The average annual growth rates of imports by the remaining supplier countries are as follows: Slovenia (+X% per year) and China (-X% per year).
By value, China ($X), Italy ($X) and Oman ($X) are the largest suppliers of lifting equipment to the UAE, together accounting for X% of total imports. This is followed by Slovenia, Germany, India and the Netherlands, which together account for X terms of major suppliers, with Slovenia showing a CAGR of +X% and the highest growth rate in import value during the review period, while other leaders People's purchases experienced a more moderate pace of growth.
The UAE's largest suppliers of lifting equipment by value are China, Italy and Oman, which together account for 60% of total imports. This is followed by Slovenia, Germany, India and the Netherlands, which together account for 28%.
By value, the largest markets for lifting equipment exports from the United Arab Emirates are Italy, Tanzania and Spain, which together account for 96% of total exports.
The average export price of hoisting equipment in 2021 is $982 per unit, down -15.3% from the previous year.
The average import price of lifting equipment in 2021 is US$2,782 per unit, an increase of 10% over the previous year.
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