The Egyptian lifting equipment market rapidly shrinks to $X in 2021, down -X% year-on-year. Overall, however, consumption has grown resiliently. During the period under review, the market peaked at $X in 2020 before contracting significantly the following year.
In value terms, hoisting equipment production in 2021 is estimated to have dropped significantly to $X at export prices. Overall, however, there has been a significant increase in production. The fastest growth in 2018, with an X% increase in production. Lifting equipment production peaked at $X in 2020 before contracting sharply the following year.
In 2021, Egypt's hoisting equipment exports fell sharply to less than X units, down -X% from the previous year. However, exports continued to show strong growth during the period under review. Growth was the fastest in 2019, up X%. Exports peaked at X units in 2014; however, exports have remained low from 2015 to 2021.
In terms of value, hoisting equipment exports fell significantly to $X in 2021. Overall, exports continued to decline significantly. The most significant growth rate occurred in 2019, when exports increased by X%. As a result, exports peaked at X dollars. From 2020 to 2021, the growth rate of exports will remain at a low level.
Spain (X units) is the main destination for Egyptian lifting equipment exports, accounting for about 10%. X% of total exports.
From 2012 to 2020, the average annual growth rate of cargo volumes to Spain was -X%.
In value terms, Spain ($X) remains the main foreign market for Egyptian lifting equipment exports. From 2012 to 2020, the value to Spain has grown at an average annual rate of -X%.
Egypt's hoisting equipment imports surge to X units in 2021, a year-on-year increase of X%. Overall, imports recorded significant growth. 2017 appears to have seen the fastest growth, with an X% increase over the previous year. During the period under review, imports hit an all-time high in 2021 and are expected to keep growing in the short term.
Lifting equipment imports surge to $X by value in 2021. Overall, imports have grown substantially. As a result, imports peaked and may continue to grow in the short term.
Germany (X units), Spain (X units) and Poland (X units) are the main suppliers of lifting equipment imports to Egypt, accounting for X% of total imports. This is followed by China, Turkey, Saudi Arabia and the Netherlands, which have further increased their purchases by X from 2012 to 2021, with the largest increase being China (+X% CAGR), while Purchases by other leaders have grown more modestly.
Germany ($X), Spain ($X) and Poland ($X) are Egypt's largest lifting equipment suppliers by value, accounting for X% of total imports. China, Turkey, Saudi Arabia and the Netherlands are slightly behind, with a combined X of the major suppliers during the review period, with a CAGR of +X%, with the highest growth in import value, while the other leaders’ Purchases experienced a more modest growth rate.
Egypt's largest suppliers of lifting equipment by value are Germany, Spain and Poland, accounting for 64% of total imports. China, Turkey, Saudi Arabia and the Netherlands are slightly behind with a combined 34%.
In terms of value, Spain remains the main foreign market for Egyptian lifting equipment exports.
In 2020, the average export price of lifting equipment was US$8,682 per unit, a year-on-year increase of 167%.
The average import price of hoisting equipment in 2021 is $3,233 per unit, down -13.7% from the previous year.
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