Market Forecast By Types (Small Boom Range, Medium Boom Range, Large Boom Range), By Applications (Construction, Transport, Marine, Mining, Forestry & Others) And Competitive Landscape
Product Code: ETC002466 | Publication Date: Apr 2020 | Updated Date: Dec 2024 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 | |
Report Name | Nigeria Knuckle Boom Crane Market |
Forecast period | 2025-2031 |
CAGR | 6.5% |
Growing Sector | Construction |
The Nigeria Knuckle Boom Crane Market report thoroughly covers the market by Type and Applications. The market report provides an unbiased and detailed analysis of the ongoing 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.
The Nigeria knuckle boom crane market is expected to witness significant growth during the forecast period of 2024-2030. The market is primarily driven by the increasing demand for construction activities across different sectors such as residential, commercial, and industrial. The government's focus on infrastructure development to drive economic growth is also fueling the demand for knuckle boom cranes in the country.
According to 6Wresearch, the Nigeria Knuckle Boom Crane Market size is expected to grow at a significant CAGR of 6.5% during 2025-2031. One of the main drivers of the Nigeria knuckle boom crane market is the country's growing construction industry. The demand for knuckle boom cranes in this sector has been steadily increasing due to the need for efficient lifting and handling of heavy materials. Additionally, there has been a growing focus on renewable energy sources in Nigeria, which has also played a significant role in driving the demand for knuckle boom cranes. Moreover, the oil and gas industry in Nigeria has been another major driver of the knuckle boom crane market.
One of the main challenges is the high cost associated with these cranes. The lack of skilled labour in operating and maintaining knuckle boom cranes is also a hurdle for the market's growth. Furthermore, issues such as regular maintenance and downtime due to breakdowns can also hinder the market's growth.
Some key players in the Nigeria knuckle boom crane market include Palfinger AG, Manitowoc Cranes LLC, Hiab Limited, Tadano Ltd., Liebherr Group, Terex Corporation, Zoomlion Heavy Industry Science & Technology Co., Ltd., Sany Group Co. Ltd., and XCMG Group. These companies are constantly striving to enhance their product offerings through technological advancements, in order to cater to the changing demands of their customers.
One of the key initiatives taken by the Nigerian government is the establishment of the National Automotive Industry Development Plan (NAIDP). This plan aims to encourage local manufacturing and assembly of vehicles including cranes. Additionally, there has also been a focus on infrastructure development, particularly in the construction and energy sectors. Moreover, the Nigerian government is actively working towards improving its business climate by implementing reforms to ease doing business in the country. Furthermore, the government has also been investing heavily in training programs to develop a skilled workforce for the crane industry.
The Nigeria knuckle boom crane market is expected to grow significantly in the coming years due to various factors such as increasing investments in construction and infrastructure projects, rising demand for efficient lifting equipment, and favourable government initiatives. The country's growing oil and gas industry also contributes to the market growth as these cranes are widely used in offshore operations. With advancements in technology and a focus on sustainability, there is also a shift towards electric-powered knuckle boom cranes, which are more environmentally friendly and cost-effective.
According to Ravi Bhandari, Research Head, 6Wresearch, the medium boom range segment is expected to witness significant growth in the Nigeria knuckle boom crane market due to its versatile usage in various industries such as construction, transport, and mining, increasing demand for efficient and cost-effective lifting solutions
In terms of applications, the construction sector is expected to dominate the market due to ongoing infrastructural development projects in Nigeria.
The report provides a detailed analysis of the following market segments:
1. Executive Summary |
2. Introduction |
2.1. Key Highlights of the Report |
2.2. Report Description |
2.3. Market Scope & Segmentation |
2.4. Research Methodology |
2.5. Assumptions |
3. Nigeria Knuckle Boom Crane Market Overview |
3.1. Nigeria Country Indicators |
3.2. Nigeria Knuckle Boom Crane Market Revenues , 2021-2031F |
3.3. Nigeria Knuckle Boom Crane Market – Industry Life Cycle |
3.4. Nigeria Knuckle Boom Crane Market – Porter’s Five Forces |
3.5. Nigeria Knuckle Boom Crane Market Revenue & Volume Share, By Types, 2021&2031F |
3.6. Nigeria Knuckle Boom Crane Market Revenue & Volume Share, By Applications, 2021&2031F |
4. Nigeria Knuckle Boom Crane Market Dynamics |
4.1. Impact Analysis |
4.2. Market Drivers |
4.3. Market Restraints |
5. Nigeria Knuckle Boom Crane Market Trends |
6. Nigeria Knuckle Boom Crane Market Overview, By Types |
6.1. Nigeria Knuckle Boom Crane Market Revenues & Volume, By Small Boom Range, 2021-2031F |
6.2. Nigeria Knuckle Boom Crane Market Revenues & Volume, By Medium Boom Range, 2021-2031F |
6.3. Nigeria Knuckle Boom Crane Market Revenues & Volume, By Large Boom Range, 2021-2031F |
7. Nigeria Knuckle Boom Crane Market Overview, By Applications |
7.1. Nigeria Knuckle Boom Crane Market Revenues & Volume, By Construction, 2021-2031F |
7.2. Nigeria Knuckle Boom Crane Market Revenues & Volume, By Transport, 2021-2031F |
7.3. Nigeria Knuckle Boom Crane Market Revenues & Volume, By Marine, 2021-2031F |
7.4. Nigeria Knuckle Boom Crane Market Revenues & Volume, By Mining, 2021-2031F |
7.5. Nigeria Knuckle Boom Crane Market Revenues & Volume, By Forestry, 2021-2031F |
7.6. Nigeria Knuckle Boom Crane Market Revenues & Volume, By Others, 2021-2031F |
8. Nigeria Knuckle Boom Crane Market Key Performance Indicators |
9. Nigeria Knuckle Boom Crane Market Opportunity Assessment |
9.1. Nigeria Knuckle Boom Crane Market Opportunity Assessment, By Types, 2031 |
9.2. Nigeria Knuckle Boom Crane Market Opportunity Assessment, By Applications, 2031 |
10. Nigeria Knuckle Boom Crane Market Competitive Landscape |
10.1. Nigeria Knuckle Boom Crane Market Revenue Share, By Companies, 2024 |
10.2. Nigeria Knuckle Boom Crane Market Competitive Benchmarking, By Operating and Technical Parameters |
11. Company Profiles |
12. Recommendations |
13. Disclaimer |