Oman: Lifting Equipment Market Analysis 2022

 In 2021, the Omani lifting equipment market fell -X% to $X for the first time since 2018, ending a two-year upward trend. Overall, however, consumption has grown resiliently. As a result, consumption peaked at $X before falling sharply the following year

In value terms, hoisting equipment production in 2021 is estimated at less than $X at export prices. Overall, production continued to grow significantly. 2017 appears to have seen the fastest growth, with an X% increase over the previous year. As a result, production peaked at X dollars. Production growth failed to regain momentum from 2018 to 2021.

Oman’s lifting equipment export scale

In 2021, after a three-year decline, overseas shipments of lifting equipment saw a significant increase, with sales increasing by X% to X units. During the period under review, exports increased significantly. Exports peaked at X units in 2017; however, from 2018 to 2021, exports were slightly lower.

In terms of value, hoisting equipment exports surged to $X in 2021. Overall, exports have grown substantially. Therefore, exports peaked and may continue to grow in the short term.

India (X units) is the main destination for Omani lifting equipment exports, accounting for about X% of total exports.

From 2012 to 2021, the average annual growth rate of Indian exports is +X%. In terms of value, India ($X) remains the main foreign market for Omani lifting equipment exports. Average annual growth in value to India from 2012 to 2021 totals +X%.

Import scale of Oman lifting equipment

After two years of growth, foreign supply of hoisting equipment fell -X% to X units in 2021. During the period under review, imports faced huge setbacks. 2019 saw the fastest growth, with imports up X% year-on-year. During the period under review, imports peaked at X units in 2020 and then declined significantly the following year.

In value terms, hoisting equipment imports fell rapidly to $X in 2021. Overall, imports fell sharply. The most significant growth rate occurred in 2019, with an X% increase. Imports peaked at $X in 2020 and then declined significantly the following year.

In 2021, Saudi Arabia (X units) is the main supplier of lifting equipment in Oman, accounting for about 10%. X% of total imports.

From 2012 to 2021, the average annual growth rate of Saudi Arabia’s export volume totals -X%.

Saudi Arabia ($X) is the largest lifting equipment supplier to Oman by value. From 2012 to 2021, Saudi Arabia has an average annual value growth rate of -X%.

Statistics of various crane suppliers in Oman

Saudi Arabia is Oman’s largest supplier of lifting equipment by value.

In value terms, India remains the main foreign market for Oman’s hoisting equipment exports.

The average export price of hoisting equipment in 2021 is $1,252 per unit, down -1.5% from the previous year.

The average import price of hoisting equipment in 2021 is US$318/unit, a year-on-year decrease of -16.2%.

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Oman: Lifting Equipment Market Analysis 2022