In 2023, the import value of derricks, cranes, straddle carriers, and crane trucks to the UAE stood at $345.71 million. The forecasted data from 2024 to 2028 shows a year-on-year decline, starting from $336.6 million in 2024 down to $299.95 million in 2028. The average year-on-year decline over the last two years is approximately 2.9%, and the Compound Annual Growth Rate (CAGR) over the next five years is projected at around -2.2%.
Future trends to watch for include:
• Potential technological advancements in equipment that may affect demand.
• Geopolitical and economic factors influencing import policies and pricing.
• Infrastructure development projects in the UAE that could create short-term surges in demand despite the overall declining trend.
