In 2021, after a four-year decline, the Kuwait Transportation and Overhead Cranes market has seen significant growth, increasing its value by X% to X dollars. Overall, however, there has been a sharp decline in consumption. Consumption of transport and overhead cranes peaked at $X in 2016; however, consumption is at a lower level from 2017 to 2021.
In terms of value, the production of transport and overhead cranes fell sharply in 2021 to USD 2021, estimated at export prices. During the period under review, production faced a sharp decline. Production of transport and overhead cranes peaked at $X in 2020 before declining rapidly the following year.
Kuwait's overseas shipments of haulage cranes, gantry cranes and overhead cranes increased for the eighth consecutive year, increasing by X% to X units in 2021. Overall, exports have grown substantially. The fastest growth rate in 2018, an increase of X% year-on-year. During the period under review, exports hit an all-time high in 2021 and are expected to keep growing in the years ahead.
In value terms, transport and overhead crane exports contracted slightly to $X in 2021. Overall, exports continued to show a relatively stable trend pattern. The fastest growth in 2016, exports increased by X% year-on-year. Exports peaked at $X in 2020 and then declined slightly the following year.
El Emiratos Árabes Unidos (X units) is the leading destination for Kuwait's transport and overhead crane exports, accounting for X% of total exports. In addition, transport and overhead cranes were exported to the United Arab Emirates five times as many as to the second main destination, Arabia Saudita (X units).
From 2012 to 2021, the average annual growth rate of cargo traffic to the United Arab Emirates is +X%. Exports to other major destinations recorded the following average annual export growth rates: Saudi Arabia (+X% per annum) and Omán (+X% per annum).
In value terms, the United Arab Emirates ($X) remains the leading foreign market for Kuwait's transport and overhead crane exports, accounting for X% of total exports. In second place is Saudi Arabia ($X) with X% of total exports.
Average annual growth in value to the United Arab Emirates from 2012 to 2021 is relatively modest. Exports to other major destinations recorded the following average annual export growth rates: Saudi Arabia (-X% per annum) and Oman (+X% per annum).
In 2021, overseas purchases of haulage cranes, gantry cranes and overhead cranes finally picked up, reaching X units for the first time since 2016, ending a four-year downward trend. However, imports continued to show a sharp contraction during the period under review. During the period under review, imports reached a maximum of X units in 2016; however, from 2017 to 2021, imports failed to regain momentum.
Transport and Overhead Crane Imports Soar to $X in 2021 by Value. But overall, imports showed a relatively stable trend pattern. The growth rate was most pronounced in 2014, when imports increased by X% year-on-year. During the period under review, Grúa pórtico de 10 toneladas imports reached a maximum value of X dollars in 2016; however, from 2017 to 2021, imports remained at lower levels.
In 2021, Saudi Arabia (X units) is the largest supplier of transport and overhead cranes to Kuwait, accounting for X% of total imports. In addition, transport and overhead cranes imported from Saudi Arabia tripled the numbers recorded by the second largest supplier, Nueva Zelanda (X units). The Estados Unidos (X units) ranks third in total imports with a share of X%.
From 2012 to 2021, Saudi Arabia's export volume has grown at an average annual rate of +X%. The average annual growth rates of imports for the remaining suppliers are as follows: New Zealand (+X% per annum) and the United States (-X% per annum).
By value, Kuwait's largest suppliers of transport and overhead cranes are the Países bajos ($X), Saudi Arabia ($X) and New Zealand ($X) with X% of total imports. The Netherlands, with a CAGR of +X%, saw the highest growth in import value among the major suppliers during the period under review, while other leaders saw more modest growth in purchases.
The Netherlands, Saudi Arabia and New Zealand are Kuwait's largest suppliers of transport and overhead cranes by value, together accounting for 44% of total imports.
In terms of value, the United Arab Emirates remains the main foreign market for Kuwait’s transport and overhead crane exports, accounting for 57% of total exports. In second place is Saudi Arabia, which accounted for 8.4% of total exports.
In 2021, the average export price of transport and overhead cranes will be $2,247 per unit, down -8.5% from the previous year.
In 2021, the average import price of transport and overhead cranes is $4,943 per unit, down -29.9% from the previous year.
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