The Middle East and Africa rough terrain cranes market is currently experiencing a robust growth trajectory, poised to make significant strides over the next decade. In 2022, the market was valued at a substantial US$ 321.1 million, setting the stage for a promising future. Projections indicate a steady climb, with an estimated compound annual growth rate (CAGR) of 7.3% from 2023 to 2033.
By the end of this growth period, the market is anticipated to reach an impressive valuation of US$ 693.1 million by 2033, marking a substantial increase from its estimated worth of US$ 342.6 million in 2023. This growth signifies a dynamic shift in the region’s construction and industrial sectors, driving the demand for rough terrain cranes to new heights.
One noteworthy segment in this burgeoning market is the 25 to 50 tons lifting capacity category, which held a significant share, accounting for about 24.5% in 2022. This emphasizes the importance of versatility and efficiency in construction and industrial applications across the Middle East and Africa.
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Key Market Insights Shaping Growth:
- Rental Preferences Prevail: A compelling factor sustaining market dynamics is the preference for rental cranes due to their cost-effectiveness in terms of both initial capital and maintenance expenses compared to new crane purchases.
- Tapping High Lifting Potential: The market landscape presents profitable avenues in the realm of high lifting capacity cranes, particularly in the segment exceeding 100 tons. This segment is poised to capitalize on promising opportunities.
- Venturing into New Sectors: Novel revenue streams are set to emerge through the application of rough terrain cranes in diverse sectors, including fracking pipe yards, transmission distribution lines, and tank firms.
- Automation and Telematics Take Center Stage: A pivotal thrust for market transformation lies in the integration of automation and advanced telematics, defining the trajectory of progress and influence.
- Enhanced Operator Experience and Efficiency: Elevating operator comfort and optimizing fuel efficiency take precedence, driving the integration of novel features into rough terrain cranes.
- GCC Dominates Market Landscape: The Gulf Cooperation Council (GCC) stands as a dominant player in both the rental and new sales markets for rough terrain cranes within the Middle East and Africa (MEA) region.
- Turkey Leads New Sales Surge: A noteworthy surge in new crane sales is projected for Turkey over the span of 2023 to 2033, marking a substantial growth hotspot.
- African Demand on the Rise: The African continent is poised to experience significant demand growth, attributed to rapid developments in power generation and distribution infrastructure, alongside burgeoning mining activities.
Key Companies Profiled:
- Liebherr Group
- Terex Corporation
- Tadano Ltd.
- Zoomlion Heavy Industry Science and Technology Co., Ltd
- Xuzhou Construction Machinery Group Co., Ltd
- Sany Heavy Industry Co., Ltd
- KATO WORKS CO., LTD.
- The Manitowoc Company, Inc.
Competitive Landscape: Forging Pathways in the Middle East and Africa Rough Terrain Cranes Market
The Middle East and Africa rough terrain cranes market is witnessing a dynamic surge, propelled by the active presence of significant system developers, manufacturers, and service providers spanning the spectrum from large-scale to medium and small-scale enterprises. A notable trend emerges as leading rough terrain crane manufacturers strategically collaborate and establish partnerships with local vehicle manufacturers, thereby harnessing enhanced market prospects.
Illustrative Instances:
- In March 2023, Al Faris, a prominent heavy lifting solutions provider in the UAE boasting an extensive fleet of cranes and heavy equipment, achieved a significant milestone with the successful delivery of the GR-800EX rough-terrain crane from Tadano.
- In September 2022, Thunder Cranes, a renowned name in offshore, modular, and portable rental cranes, made waves by announcing the resumption of its operations in the Middle East. This was accompanied by the establishment of a new base in the United Arab Emirates, reinforcing its foothold in the region.
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Key Segments Covered:
By Lifting Capacity:
- Upto 25 Tons
- 25.1 to 50 Tons
- 50.1 to 75 Tons
- 75.1 to 100 Tons
- More than 100 Tons
By Boom Length:
- Upto 25 Meters
- 25.1 to 35 Meters
- 35.1 to 50 Meters
- More than 50 Meters
By Sales Channel:
- New Sales
- Equipment Rental
By Country:
- GCC Countries
- Israel
- Turkey
- South Africa
- Northern Africa
- Rest of the Middle East and Africa
Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
About Future Market Insights (FMI)
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