Increasing investment in the infrastructure and construction sector, growing commercial sector, particularly rising number of high-rise building projects, rapid urbanization along increasing government expenditure in the infrastructure sector are some of the key growth drivers of the growth of the Middle East crane market. However, the Middle East economy is likely to witness a slowdown during the first three quarters of 2020, due to the outbreak of the COVID-19 pandemic. Though the economic scenario in the Middle East region is expected to recover steadily in the next few years, the crane market in the Middle East is also likely to recover gradually over the years to come.
According to 6Wresearch, Middle East Crane Market size is likely to witness growth during 2020-2026. This growth is primarily driven by government initiatives towards building smart cities and housing units, rising investment in infrastructure-related projects, as well as government, plans to transform the Middle East from a traditional to a non-oil economy. Government plans such as Saudi Vision 2021, Qatar National Vision 2030, and Dubai Vision 2021 would boost the growth of the overall infrastructure and construction sector of the region and eventually would spur the demand for a crane in the Middle East over the coming years. Additionally, a growing number of infrastructure development projects in the region such as the construction of smart cities, shopping malls and hotels, expansion of metro network and airports as well as replacement of the capital of Egypt, Cairo, and Kuwait metro will further boost the demand for cranes in the region over the years to come.
In terms of equipment type, the mobile crane segment leads the overall Middle East crane market due to the usage of advanced technology and certain key benefits associated with mobile cranes such as minimizing human involvement. Additionally, the construction segment captures the majority of the market share of the overall crane manufacturers in the Middle East.
The Middle East crane market report thoroughly covers the market by types, applications, and countries including Qatar, UAE, Saudi Arabia, and the Rest of the Middle East region. Middle East crane market outlook report provides an unbiased and detailed analysis of the ongoing Middle East crane market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies accordingly to the current and future market dynamics.
The Middle East crane market is projected to register sound revenues during the forecast period 2020-26F backed by the rising construction sector. The real estate sector is estimated to generate high sales revenue in the upcoming six years on the back of rising construction in developing buildings. Where tower cranes help in constructing tall buildings Infrastructure. Increased foreign investment tends to help in the emerging real estate sector in several countries like Saudi Arabia, Qatar, women, and Dubai coupled with support extensive development of residential buildings across the region. The rising standard of living is leading to rising suburban demand for better living households tends to support real estate developers for household building construction and is expected to leave a positive impact on the country in the coming timeframe.
Middle East Crane market is expected to register sound revenues in the upcoming six years on the back of the rising infrastructural development in the hospitality sector across the region. Further, on the basis of country, Saudi Arabia crane market is expected to drive progressive growth owing to rising construction projects such as Mall of Saudi and Assam projects that tend to support the growth of the hospitality sector which is expected to continue to grow massively backed by evolving tourism sector in the country and is expected to propel significant demand for cranes in order to build tall building structure and that would assist the market to achieve positive growth in the forthcoming years. Moreover, ongoing projects in the country such as Riyadh Metro and Riyadh rapid bus transit system to ensure wide ease of mobility in the country which is estimated to strengthening the transportation sector as a result, it would benefit the Saudi Arabia crane market growth and that would directly benefit the Middle East Crane Market in the coming timeframe.
The Middle east crane market is estimated to gain momentum throughout the forecast period 2020-26F on the back of the rising potential growth of the EXIM industry. The top importing fruits are grapes and mangoes and the top importing countries are Brazil, India, and China. All the EXIM practices done throughout ports and the top busiest ports in the entire middle east region are Port of Jebel Ali, Dammam port in Saudi Arabia, and mina rash is port in Dubai, these all carrying cargo and is estimated to generate high demand for cranes to load and unload freight and is expected to leave a positive impact on the Middle East crane market growth in the upcoming six years.
Key Highlights of the Report
- Middle East Crane Market Overview
- Middle East Crane Market Outlook
- Middle East Crane Market Forecast
- Historical Data of Middle East Crane Market Revenues & Volume for the Period 2016-2019.
- Middle East Crane Market Size and Middle East Crane Market Forecast of Revenues and Volume, Until 2026.
- Historical Data of Middle East Crane Market Revenues and Volume, By applications, for the Period 2016-2019
- Market Size & Forecast of Middle East Crane Market Revenues and Volume, By applications, Until 2026
- Historical Data of Middle East Crane Market Revenues and Volume, By types, for the Period 2016-2019
- Market Size & Forecast of Middle East Crane Market Revenues and Volume, By types, Until 2026
- Historical Data of Qatar Crane Market Revenues and Volume, for the Period 2016-2019
- Market Size & Forecast of Qatar Crane Market Revenues and Volume, Until 2026
- Historical Data of UAE Crane Market Revenues and Volume, for the Period 2016-2019
- Market Size & Forecast of UAE Crane Market Revenues and Volume, Until 2026
- Historical Data of Saudi Arabia Crane Market Revenues and Volume, for the Period 2016-2019
- Market Size & Forecast of Saudi Arabia Crane Market Revenues and Volume, Until 2026
- Historical Data of Rest of the Middle East Crane Market Revenues and Volume, for the Period 2016-2019
- Market Size & Forecast of Rest of Middle East Crane Market Revenues and Volume, Until 2026
- Market Drivers and Restraints
- Middle East Crane Market Trends and Industry Life Cycle
- Porter's Five Force Analysis
- Market Opportunity Assessment
- Middle East Crane Market Share, By Players
- Middle East Crane Market Share, By Regions
- Middle East Crane Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
The Middle East crane market report provides a detailed analysis of the following market segments:
- By Types:
- Mobile Crane
- Fixed Crane
- Marine and Offshore Crane
- By Applications:
- Industrial Applications
- Marine and offshore
- Mining and Excavation
- Other Applicants
- By Countries
- Saudi Arabia
- Rest of the Middle East
Other Key Available Reports:
- North America Crane Market Report
- Latin America Crane Market Report
- Europe Crane Market Report
- Africa Crane Market Report
Frequently Asked Questions About the Market Study (FAQs):
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