Thursday, 26 May 2022
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In 2020, the Kuwait crane market rose by X% to $X for the first time since 2016, ending a three-year downward trend. However, consumption continued to show a relatively flat trend pattern during the period under review. The rate of growth was most pronounced in 2010, when the market value increased by X% year over year. During the period under review, the market peaked at $X in 2016; however, from 2017 to 2020, consumption was at a lower level.

In value terms, 2020 crane production is estimated to contract to $X at export prices. Overall, production showed a relatively stable trend pattern. Crane production peaked at $X in 2019 before declining the following year.

Kuwait crane export scale
In 2020, overseas shipments of cranes and mobile cranes increased by X% to X units, the third consecutive year of growth after two years of decline. During the period under review, however, there was a marked decline in exports. The growth rate was most pronounced in 2011, when exports increased by X% over the previous year. As a result, exports peaked at X units. Export growth failed to regain momentum between 2012 and 2020.

In value terms, crane exports fell significantly to X dollars in 2020. But overall, exports have grown significantly. The most significant growth rate occurred in 2015, which was an X% increase compared to the previous year. Exports peaked at $X in 2019 before shrinking sharply the following year.

Saudi Arabia (X units), Egypt (X units) and India (X units) were the main destinations for Kuwait’s crane exports, together accounting for X% of total exports. Belgium, Sudan, Argentina, South Africa and Singapore are slightly behind, with a further X additions between 2007 and 2020 combined, with the largest increase being South Africa (+X% per annum), while the other leaders have experienced more modest shipments growth rate.

The largest crane markets by value from Kuwait are Belgium ($X), Saudi Arabia ($X) and Egypt ($X), which together account for X% of total exports. This is followed by Argentina, South Africa, India, Singapore and Sudan, which together account for a further X of the top destination countries, with Sudan having the highest growth in export value during the period under review, while the other leaders have seen a slower growth in shipments. mild.

Import scale of cranes in Kuwait
In 2020, the supply of cranes, mobile cranes from abroad fell by -X% to X units, the fourth consecutive year of decline after three years of growth. Overall, imports face a sharp contraction. 2008 saw the fastest growth, with an X% increase over the previous year. During the period under review, imports peaked at X units in 2016; however, from 2017 to 2020, imports failed to regain momentum.

In value terms, crane imports contracted significantly to $X in 2020. Overall, imports fell sharply. In 2010, the growth rate was the fastest, with an increase of X% year-on-year. Imports peaked at $X in 2016; however, imports declined slightly from 2017 to 2020.

In 2020, Oman (X units) was the main supplier of cranes to Kuwait, accounting for about X% of total imports. From 2007 to 2020, Oman’s sales have grown at an average annual rate of -X%.

Oman ($X) is the largest crane supplier to Kuwait by value.

From 2007 to 2020, Oman’s average annual growth in value totaled +X%.

Statistics of various crane suppliers in Kuwait
Oman is Kuwait’s largest crane supplier by value.

The largest markets for crane exports from Kuwait by value are Belgium, Saudi Arabia and Egypt, which together account for 12% of total exports. Argentina, South Africa, India, Singapore and Sudan are slightly behind, with a combined 5.8%.

The average export price of cranes in 2020 was $13,809 per unit, down -44.3% from the previous year.

The average import price of cranes in 2020 was $26,757 per unit, down -2% from the previous year.

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Kuwait Crane Market Study 2022
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