The Middle East and Africa rough terrain cranes market commenced its journey at a valuation of US$ 321.1 million in 2022, positioning itself for remarkable expansion. Forecasts predict a noteworthy Compound Annual Growth Rate (CAGR) of 7.3% from 2023 to 2033. This trajectory propels the market’s value to an impressive US$ 693.1 million by 2033, surging from its 2023 evaluation of US$ 342.6 million. Within the market’s landscape, the 25 to 50 tons lifting capacity segment commanded a significant 24.5% share in 2022.
Rough terrain cranes characterized by lifting capacities spanning 50 tons to 75 tons, coupled with boom lengths ranging from 25m to 35m, are poised to secure a substantial stake within the Middle East and Africa rough terrain cranes market. Simultaneously, high capacity cranes, exceeding 100 tons, are projected to undergo rapid growth, as underscored by a significant Compound Annual Growth Rate (CAGR).
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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.
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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.
Key Segments:
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
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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