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

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: ETC002071	Publication Date: Apr 2020	Updated Date: Nov 2023	Product Type: Report
Publisher: 6Wresearch	No. of Pages: 70	No. of Figures: 35	No. of Tables: 5

saudi arabia Crane Market Shipment Analysis

Saudi Arabia Crane Market Shipment Analysis registered a decline of -51.45% in value shipments in 2021 as compared to 2020 and a decrease of -8.19% CAGR in 2021 over a period of 2017. In Crane Market Shipment Analysis Saudi Arabia is becoming less competitive as HHI index in 2021 was 4848 while in 2017 it was 2243. 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 Shipment Analysis while a large index number means less numbers of players or countries exporting in the Market Shipment Analysis.

Saudi Arabia has reportedly relied more on imports to meet its growing demand in Crane Market Shipment Analysis. Saudi Arabia 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 Shipment Analysis in 2021 was 3.16 while in 2017 it was 3.24. Germany, China, Austria, France and Australia were among the top players of the Market Shipment Analysis in 2021, where Germany acquired the largest Market Shipment Analysis share of 57.03% with a shipment value of 36.56 million USD in 2022 Germany also offered the product above the average Market Shipment Analysis price, but remained at the leadership position indicating the trust it holds in the Crane Market Shipment Analysis. In 2017 China had the largest Market Shipment Analysis share of 35.2% with the shipment value of 71.23 million USD. The country was offering its product with an average price which is lower than the average Market Shipment Analysis price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.

Rapid urbanization, the rising number of smart cities, availability of advanced infrastructure facilities along with technological advancement as well as an increasing number of infrastructure and complex construction projects are some of the key growth drivers of the crane market in Saudi Arabia. However, the outbreak of the COVID-19 pandemic has resulted in a slowdown in Saudi Arabia's economy during the first three quarters of 2020. Though the economic scenario in the Saudi Arabia region is expected to recover steadily in the next few years, the crane market in Saudi Arabia is also likely to recover gradually over the years to come.

According to 6Wresearch, the Saudi Arabia Crane Market size is likely to witness growth during 2020-2026. This growth is primarily attributed to government initiatives towards transforming the economy from the oil sector to the non-oil sector by implementing development plans such as Saudi Vision 2030. Additionally, a rising number of infrastructure and industrial development projects provided by public and private facilities to expand and modernize the road network, railways, trade, and tourism centers, and airports such as the Neom project, Railway project, and Red Sea project, etc will further spur the demand for cranes in Saudi Arabia during the forecast period.

Based on equipment type, the mobile crane segment dominates the overall Saudi Arabia crane market due to the rising demand for heavy load lifting applications across the industrial and commercial sectors. Additionally, the construction segment is the key revenue-generating segment in Saudi Arabia's crane market.

The Saudi Arabia crane market report thoroughly covers the market by types, applications, and regions. Saudi Arabia's crane market outlook report provides an unbiased and detailed analysis of the on-going Saudi Arabia 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.

Saudi Arabia crane market is expected to gain momentum during the forecast period 2021-27F backed by the rising constructional projects such as Mall of Saudi and Assama projects that tends 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, would benefit the Saudi Arabia crane market to grow considerably in the foreseeable future.

Key Highlights of the Report:

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