In 2021, the Saudi lifting equipment market fell -X% to $X for the first time since 2018, ending a two-year uptrend. During the period under review, however, there was a modest expansion in consumption. As a result, consumption peaked at X dollars before falling the following year.
In value terms, hoisting equipment production fell significantly to $X in 2021 (estimated at export prices). Overall, however, there has been a modest increase in production. The fastest growth was recorded in 2015, with production increasing by X% over the previous year. Lifting equipment production peaked at $X in 2020 before declining significantly the following year.
Saudi Arabia's hoisting equipment exports contract sharply to X units in 2021, down -X% from 2020 figures. Overall, however, exports have grown significantly. The most significant growth rate occurred in 2015, which was an X% increase compared to the previous year. As a result, exports peaked at X units. From 2016 to 2021, the export growth rate will remain at a low level.
Lifting equipment exports contracted to X USD in 2021 in value terms. But overall, exports have grown significantly. The fastest growth rate in 2015, an increase of X% year-on-year. As a result, exports peaked at X dollars. From 2016 to 2021, the export growth rate will remain at a low level.
Egypt (X units) is the main destination for Saudi Arabian lifting equipment exports, accounting for about X% of total exports.
From 2012 to 2021, the average annual growth rate of cargo traffic to Egypt totals +X%.
Egypt ($X) remains the leading foreign market for Saudi Arabia's lifting equipment exports in value terms. Average annual growth in value to Egypt from 2012 to 2021 +X%.
In 2021, Saudi Arabia will import less than X units of lifting equipment, about 5 units. figures in the previous year. Overall, imports showed a relatively stable trend pattern.
In terms of value, hoisting equipment imports surged to $X in 2021. During the review period, imports faced a sudden decline. The most significant growth rate occurred in 2014, with an increase of X%. As a result, imports peaked at X dollars. Import growth momentum failed to recover from 2015 to 2021.
In terms of value, Egypt remains the main foreign market for Saudi Arabia's lifting equipment exports.
The average export price of hoisting equipment in 2021 is US$4,618/unit, an increase of 155% over the previous year.
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