Bahrain Crane Market (2020-2026) | Size, Growth, Analysis, Forecast, Trends, Value, Companies, Share, Outlook, COVID-19 IMPACT, Revenue & Industry

Market Forecast By Types (Mobile Crane, Fixed Crane, Marine, and Offshore Crane), By Applications (Industrial Applications, Marine and offshore, Mining and Excavation, Construction) and Competitive Landscape

Product Code: ETC002081	Publication Date: Apr 2020	Updated Date: Aug 2023	Product Type: Report
Publisher: 6Wresearch	No. of Pages: 70	No. of Figures: 35	No. of Tables: 5

Bahrain Crane Market Shipment Analysis

Bahrain Crane Market registered a growth of 110.32% in value shipments in 2022 as compared to 2021 and a decrease of -33.87% CAGR in 2022 over a period of 2017. In Crane Market Bahrain is becoming less competitive as HHI index in 2022 was 4360 while in 2017 it was 2175. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.

"Bahrain has reportedly relied more on domestic production to meet its growing demand in Crane Market. India is shifting towards local production to meet its demand as we see the trend is shifting towards reducing imports. The import factor of Crane Market in 2022 was 0.32 while in 2017 it was 7.96. Malaysia, Italy, China, South Korea and Japan were among the top players of the market in 2022, where Malaysia acquired the largest market share of 61.64% with a shipment value of 1.56 million USD in 2022 Malaysia also offered the product above the average market price, but remained at the leadership position indicating the trust it holds in the Crane Market. In 2017 Germany had the largest market share of 34.27% with the shipment value of 4.93 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Germany offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the Bahrain Crane Market in 2017."

Increasing construction projects, growing tourism sector as well as increasing government spending towards infrastructural development projects are some of the key growth drivers of the Bahrain crane market over the past few years. However, the Bahrain economy has witnessed a slowdown in the first three quarters of 2020, due to the outbreak of COVID-19. Though the economic scenario in Bahrain is expected to recover steadily in the next few years, the crane market in Bahrain is also likely to recover gradually over the years to come.

According to 6Wresearch, the Bahrain Crane Market size is likely to witness growth during 2020-2026. This growth is primarily attributed to the increasing government focus on developing the economy. The economic development strategy of the country under the Bahrain Vision 2030, the country had a budget of around $32 billion for the overall infrastructure development activities, particularly for the development and modernization of housing projects. Additionally, the country is also focusing on developing the tourism sector in the country, For instance, the extension and modernization of Bahrain International Airport would increase the passenger capacity and strengthen the tourism sector in the country. These initiatives will support the growth of the crane market in Bahrain during the forecast period.

In terms of crane type, the mobile crane dominates the overall Bahrain crane market due to the increasing number of construction projects in the country. Additionally, the industrial and commercial application is the key revenue-generating segment in the Bahrain crane market. Further, the demand for tower cranes is rising as a result of an increasing number of sophisticated construction projects in the country.

The Bahrain crane market report thoroughly covers the market by types, applications, and regions. Bahrain's crane market outlook report provides an unbiased and detailed analysis of the on-going Bahrain crane market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Bahrain's crane market is projected to witness potential growth in the upcoming six years on the back of rising in the logistics industry. Additionally, rising eCommerce platforms, retail outlets, and supermarkets reflect the rising need for cargo loading and unloading process by using crane machines and is expected to make serious headway towards the growth of the Bahrain crane market. Further, the rise in sea trade tends to require machines that help in loading heavy objects. Rising sea trade is shaping the marine industry and is expected to support the progressive growth of the Bahrain crane market in the upcoming six years.

Key Highlights of the Report:

Bahrain Crane Market Overview
Bahrain Crane Market Outlook
Bahrain Crane Market Forecast
Historical Data of Bahrain Crane Market Revenues & Volume for the Period 2016-2019.
Bahrain Crane Market Size and Bahrain Crane Market Forecast of Revenues and Volume, Until 2026.
Historical Data of Bahrain Crane Market Revenues and Volume, By applications, for the Period 2016-2019
Market Size & Forecast of Bahrain Crane Market Revenues and Volume, By applications, Until 2026
Historical Data of Bahrain Crane Market Revenues and Volume, By types, for the Period 2016-2019
Market Size & Forecast of Bahrain Crane Market Revenues and Volume, By types, Until 2026
Historical Data of Bahrain Crane Market Revenues and Volume, By regions, for the Period 2016-2019
Market Size & Forecast of Bahrain Crane Market Revenues and Volume, By regions, Until 2026
Market Drivers and Restraints
Bahrain Crane Market Trends and Industry Life Cycle
Porter's Five Force Analysis
Market Opportunity Assessment
Bahrain Crane Market Share, By Players
Bahrain Crane Market Share, By Regions
Bahrain Crane Market Overview on Competitive Benchmarking
Company Profiles
Key Strategic Recommendations