The Middle East and Africa rough terrain cranes market commenced its journey at a valuation of US$ 321.1 million in 2022, positioning itself for remarkable expansion. Forecasts predict a noteworthy Compound Annual Growth Rate (CAGR) of 7.3% from 2023 to 2033. This trajectory propels the market's value to an impressive US$ 693.1 million by 2033, surging from its 2023 evaluation of US$ 342.6 million. Within the market's landscape, the 25 to 50 tons lifting capacity segment commanded a significant 24.5% share in 2022.
Rough terrain cranes characterized by lifting capacities spanning 50 tons to 75 tons, coupled with boom lengths ranging from 25m to 35m, are poised to secure a substantial stake within the Middle East and Africa rough terrain cranes market. Simultaneously, high capacity cranes, exceeding 100 tons, are projected to undergo rapid growth, as underscored by a significant Compound Annual Growth Rate (CAGR).
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Key Market Insights Shaping Growth:
- Rental Preferences Prevail: A compelling factor sustaining market dynamics is the preference for rental cranes due to their cost-effectiveness in terms of both initial capital and maintenance expenses compared to new crane purchases.
- Tapping High Lifting Potential: The market landscape presents profitable avenues in the realm of high lifting capacity cranes, particularly in the segment exceeding 100 tons. This segment is poised to capitalize on promising opportunities.
- Venturing into New Sectors: Novel revenue streams are set to emerge through the application of rough terrain cranes in diverse sectors, including fracking pipe yards, transmission distribution lines, and tank firms.
- Automation and Telematics Take Center Stage: A pivotal thrust for market transformation lies in the integration of automation and advanced telematics, defining the trajectory of progress and influence.
- Enhanced Operator Experience and Efficiency: Elevating operator comfort and optimizing fuel efficiency take precedence, driving the integration of novel features into rough terrain cranes.
- GCC Dominates Market Landscape: The Gulf Cooperation Council (GCC) stands as a dominant player in both the rental and new sales markets for rough terrain cranes within the Middle East and Africa (MEA) region.
- Turkey Leads New Sales Surge: A noteworthy surge in new crane sales is projected for Turkey over the span of 2023 to 2033, marking a substantial growth hotspot.
- African Demand on the Rise: The African continent is poised to experience significant demand growth, attributed to rapid developments in power generation and distribution infrastructure, alongside burgeoning mining activities.
Key Companies Profiled
- Liebherr Group
- Terex Corporation
- Tadano Ltd.
- Zoomlion Heavy Industry Science and Technology Co., Ltd
- Xuzhou Construction Machinery Group Co., Ltd
- Sany Heavy Industry Co., Ltd
- KATO WORKS CO., LTD.
- The Manitowoc Company, Inc.
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Competitive Landscape: Forging Pathways in the Middle East and Africa Rough Terrain Cranes Market
The Middle East and Africa rough terrain cranes market is witnessing a dynamic surge, propelled by the active presence of significant system developers, manufacturers, and service providers spanning the spectrum from large-scale to medium and small-scale enterprises. A notable trend emerges as leading rough terrain crane manufacturers strategically collaborate and establish partnerships with local vehicle manufacturers, thereby harnessing enhanced market prospects.
Illustrative Instances:
- In March 2023, Al Faris, a prominent heavy lifting solutions provider in the UAE boasting an extensive fleet of cranes and heavy equipment, achieved a significant milestone with the successful delivery of the GR-800EX rough-terrain crane from Tadano.
- In September 2022, Thunder Cranes, a renowned name in offshore, modular, and portable rental cranes, made waves by announcing the resumption of its operations in the Middle East. This was accompanied by the establishment of a new base in the United Arab Emirates, reinforcing its foothold in the region.
Key Segments:
By Lifting Capacity:
- Upto 25 Tons
- 25.1 to 50 Tons
- 50.1 to 75 Tons
- 75.1 to 100 Tons
- More than 100 Tons
By Boom Length:
- Upto 25 Meters
- 25.1 to 35 Meters
- 35.1 to 50 Meters
- More than 50 Meters
By Sales Channel:
- New Sales
- Equipment Rental
By Country:
- GCC Countries
- Israel
- Turkey
- South Africa
- Northern Africa
- Rest of the Middle East and Africa
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