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: ETC002099 | Publication Date: Apr 2020 | Updated Date: Aug 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | Iraq Crane Marketย |
Forecast period | 2024-2030 |
CAGR | 5.8% |
Growing Sector | Construction |
The Iraq Crane Market Report thoroughly covers the market by Types and Applications. The Iraq Crane Market Outlook report provides an unbiased and detailed analysis of the ongoing Iraq Crane Market trends, opportunities/high growth areas, and market drivers. This would help stakeholders devise and align their market strategies according to the current and future market dynamics.
Iraq Crane Market is set to grow at an unprecedented rate on account of the ongoing infrastructure development projects across the country. In addition, rapidly growing oil and gas sector is surging the market growth. Major players are concentrating on introducing new technologies and enhancing their product portfolio to cover the wide variety of industry requirements. Moreover, technological advancements in crane models are fuelling market expansion. Overall, the Iraq Crane Market offers significant growth and development opportunities.
According to 6Wresearch, the Iraq Crane Market is anticipated to grow at a CAGR of 5.8% during 2024-2030. One of the key drivers of the Iraq Crane Market is the infrastructure development projects including construction operations at new airports, bridges and commercial complexes across Iraq which are spurring demand for cranes. Additionally, the growing oil and gas sector is depending heavily on cranes to perform the fitting of massive machineries & equipment, driving market growth even more. Furthermore, governmental initiatives and foreign investments supporting Iraq's infrastructure modernization is significantly influencing the momentum of growth in crane market. Moreover, the introduction of technologically advanced crane models with more automation and safety features is encouraging investments from construction companies
However, the Iraq Crane Market faces many challenges that hinder its growth. The main issue is the political and security uncertainties that lead to unpredictable situations which can jeopardize operations as well as logistics. In addition, absence of modern infrastructure makes transportation and deployment of heavy machinery difficult which raises the operating costs as well as delays. Furthermore, the market suffers from low skilled workforce which compromises on quality and safety standards. Moreover, the instability in oil prices affects the economic stability at a macro level, leading to inconsistency in investment for construction projects.
Key players of Iraq Crane Market are Kato Works Co., Ltd., Kobelco Construction Machinery Co., Ltd., Sany Group, Liebherr-International AG, Tadano Ltd. and Terex Corporation. These companies have a major presence in the Iraq market and offer a wide range of cranes, from small portable ones to large tower cranes, catering to the diverse needs of various industries in Iraq.
The Iraq government has significantly influenced the growth of the Crane Market through strategic initiatives. One notable initiative is the extensive Iraq Reconstruction and Investment Plan aimed at renovating devastated regions and modernizing existing infrastructures. In addition, the government launched the exhaustive National Development Program concentrating on industrial growth and generating an amenable environment for construction companies. Furthermore, the Investment Promotion Law offers tax breaks and streamline governing processes for international enterprises. Moreover, The Transport Network Improvement Project also helps to expand logistics abilities, confirming the productive shifting of heavy equipment such as cranes across the nation.
The Iraq Crane Market is projected to expand substantially in the coming years. This growth is driven by the continuous infrastructure development projects. In addition, booming oil and gas sector is propelling the market growth. Leading players are focusing on the launch of advanced technologies and expansion in their product portfolio to cater to diverse demand across industries. Moreover, the modernization of crane models is likely to benefit market growth. Overall, the future of the Iraq Crane Market looks promising, with many opportunities for growth and development.
According to Ravi Bhandari, Research Head, 6Wresearch, the mobile crane segment is the dominant segment in the industry and will continue to grow in the coming years. This growth is due to its versatility and mobility which results in its popularity amongst construction projects of all types.
Based on Applications, the construction segment is the leading segment in the industry and will continue to grow in the coming years. This can be attributed to the high need for cranes in diverse construction works which take place throughout Iraq such as infrastructure development and urbanization.
The Iraq crane market report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1 Report Description |
2.2 Key Highlights |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3. Iraq Crane Market Overview |
3.1 Iraq Crane Market Revenues and Volume, 2020-2030F |
3.2 Iraq Crane Market Revenue Share, By Types, 2020 & 2030F |
3.3 Iraq Crane Market Revenue Share, By Applications, 2020 & 2030F |
3.4 Iraq Crane Market Revenue Share, By Regions, 2020 & 2030F |
3.5 Iraq Crane Market - Industry Life Cycle |
3.6 Iraq Crane Market - Porterโs Five Forces |
4. Iraq Crane Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5. Iraq Crane Market Trends |
6. Iraq Crane Market Overview, by Types |
6.1 Iraq Mobile Cranes Market Revenues and Volume, 2020-2030F |
6.2 Iraq Fixed Cranes Market Revenues and Volume, 2020-2030F |
6.3 Iraq Marine & Offshore Cranes Market Revenues and Volume, 2020-2030F |
7. Iraq Crane Market Overview, by Applications |
7.1 Iraq Crane Market Revenue and Volumes, By Industrial, 2020-2030F |
7.2 Iraq Crane Market Revenue and Volumes, By Construction, 2020-2030F |
7.3 Iraq Crane Market Revenue and Volumes, By Mining & Excavation, 2020-2030F |
7.4 Iraq Crane Market Revenue and Volumes, By Marine & Offshore, 2020-2030F |
7.5 Iraq Crane Market Revenue and Volumes, By Others, 2020-2030F |
8. Iraq Crane Market Competitive Landscape |
8.1 Iraq Crane Market Revenue Share, By Companies, 2023 |
8.2 Iraq Crane Market Competitive Benchmarking, By Operating Parameters |
9. Company Profiles |
10. Key Strategic Recommendations |
11. Disclaimer |