According to Future Market Insights (FMI), the GCC Mini Cranes Market is projected to experience a robust growth trajectory, with a compound annual growth rate (CAGR) of 5.8% anticipated between 2022 and 2032. By 2032, the market is forecasted to attain a valuation of US$ 41.1 million. Notably, Pick and Carry Cranes, a type of Mini Cranes, constitute over 52.1% of the total GCC market in 2022.
Moreover, the World Bank forecasts a moderate expansion of the GCC economy by 5.9% in 2023, which is poised to have a significant impact on the construction and infrastructure sectors across various countries in the region. The burgeoning trend of capital expenditure on infrastructure development, escalating demand for skyscraper glazing work, and the upsurge in civil construction activities within GCC nations collectively contribute to bolstering the Mini Cranes market.
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Opportunities
Mini cranes are renowned for their ability to conduct intricate lifting operations with precision, coupled with their incorporation of advanced safety features such as outrigger interlocks, ensuring chassis stability before commencing any lifting tasks. With an upsurge in health and safety awareness, numerous nations are tightening regulations governing manufacturers, crane contractors, and rental businesses.
Moreover, the Gulf nations are witnessing modifications in regulations pertaining to emissions from buildings and structures, which is anticipated to drive the demand for battery-powered mini cranes. As environmental consciousness grows, there is a burgeoning interest in eco-friendly and renewable energy sources, prompting manufacturers to invest in the development of battery-operated mini cranes.
In the United Arab Emirates (UAE), the Mini Cranes Market holds a substantial share, accounting for approximately 40.8% of the GCC mini cranes market, closely followed by Saudi Arabia. Saudi Arabia is projected to exhibit a value CAGR of 6.7%, while the UAE is anticipated to witness a volume CAGR of about 4.9%. Combined sales of Mini Cranes in both regions are expected to reach US$ 16.4 million in 2022.
The demand for mini cranes continues to surge due to their enhanced performance, increased safety features, and optimal design that maximizes operator visibility. With a rising demand for high-rise structures, the safety features of mini cranes are expected to undergo further enhancements. The segment of Pick and Carry Cranes is forecasted to witness growth over the projection period, presenting an absolute dollar opportunity of approximately US$ 8.20 million.
Key Companies
- UNIC-Furukawa Company Ltd
- MAEDA SEISAKUSHO CO., LTD.
- Jekko SRL
- HENAN SPT MACHINERY EQUIPMENT CO., LTD
- XCMG Group
- Hoeflon
- Manitex International
- Palazzani
- BG Lift Cranes
- R&B Engineering
- Galizia
- JMG Cranes
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Key Segmentation
Mini Cranes Market by Lifting Capacity:
- Up to 1 Ton
- 1 to 1.8 Ton
- 2 to 2.4 Ton
- 2.5 to 4.9 Ton
- 5 to 10 Ton
- 11 to 22 Ton
Mini Cranes Market by Type:
- Spider Cranes
- Crawler Cranes
- Articulated
- Telescopic
- Telescopic Pick and Carry Cranes
Mini Cranes Market by Operation:
- Fuel Operated
- Battery Operated
Mini Cranes Market by End-Use Sector:
- Industrial
- Foundries
- Power Plants
- Others
- Construction
- Residential and Commercial
- Industrial
- Civic Infrastructure
- Facility Management
- Commercial
- Industrial
- Marine
- Material Handling and Logistics
- Others
Mini Cranes Market by Ownership:
- Direct Owned
- Rented
