The MEA rough terrain cranes market is anticipated to grow by 2.0x in 2032, as compared to 2022. GCC countries are anticipated to grow at 6.0% CAGR in the MEA rough terrain cranes market during the forest period
NEWARK, DE / ACCESSWIRE / October 5, 2022 / MEA rough terrain cranes market stands at ~US$ 302.5 Mn as of now and is expected to reach US$ 641.9 Mn by the year 2032 at a CAGR of 7.3% from 2022 to 2032.
Rough terrain crane comes across as a kind of hydraulic crane used to move, lift, load, and unload heavy materials all across construction and the other industry verticals. MEA rough terrain cranes market emphasizes on 6 regions - Northern Africa, GCC countries, Turkey, South Africa, Israel, and the rest of MEA.
Rough terrain cranes are a preferred choice as far as off-road uses are concerned. This could be credited to their robust construction. Also, continuous improvisation is being done, so that they turn out to be apt for the rough terrain.
The features like easy handling, flexibility on the count of placing on hard sites, the way they could be easily moved from a work site to the other, and ease with which they could be stored when they are not in use compel the key market participants to use them over lift trucks. Also, majority of rough terrain cranes have been designed such that both - labor and time are saved by minimization of operational costs. Emergency rescue features are also included herein, which simplify the task of lifting people from collapsing or dangerous work sites.
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Automated technologies are being implemented with the objective of reducing human interaction in the manufacturing facilities. This factor is expected to bolster MEA rough terrain cranes market's growth in the next decade. Several industry verticals have begun with adoption of automatic cranes due to the reason mentioned above. For example - Manitowoc, in February 2020, put forth Grove GRT8120 rough-terrain crane.
Plus, the transportation and construction verticals are growing at a rapid pace.
One of the trends is also that of an ever-increasing demand for rental rough terrain cranes. Adoption on their part has actually taken over the new units. This could be reasoned with higher cost of the rough terrain cranes.
Telematics is also in its advanced stage. This is another factor expected to provide business opportunities. The end-consumers are asking for advanced rough terrain cranes with automation and diagnosis at advanced levels.
Initially, rough terrain cranes used to comprise 2 exclusive engines to transmit power for transportation and cranes' operations. That used to be actually proportional to requirement of load. However, now the manufacturers prefer usage of a powerful engine that could efficiently perform both the functions. Along these lines, TADANO has come up with new-fangled models of cranes that enclose an eco-made system and a fuel-monitoring system that lessens fuel consumption and provides a much better control over the engine when it's idle.
At the same time, the fact that higher capital investment could hamper MEA rough terrain cranes market can't be ignored. Also, the market is facing dearth of skilled professionals over here.
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Key Takeaways from the MEA Rough Terrain Cranes Market
- 50.1 - 75 tons rough terrain cranes are holding the largest market share. They account for more than 30% of the overall market revenue. This could be attributed to growing demand for lifting operations along with the versatility with respect to performing off-road and on-road construction projects.
- GCC countries account for close to 60% of the overall market share. Turkey and South Africa follow suit.
"With urbanization increasing at an alarming rate, the demand for rough terrain cranes is bound to substantiate in the forecast period", says an analyst from Future Market Insights.
- The Manitowoc Company, Inc., in February 2020, came up with Grove GRT8120 rough terrain crane.
- TADANO, in February 2019, completed acquisition of Demag mobile crane business from Terex Corporation for close to US$ 215 Mn.
- Liebherr, in February 2019, signed a contract with AI Faris Equipment Rentals. It implied delivering 12 cranes from novel LRT rough terrain cranes series worth close to US$ 25.8 Mn.
- XCMG, in July 2020, did launch 750 tons XCA750 eight axle all-terrain crane, which has a 7-section, 92-meter main boom, topped by heavy-duty hydraulically erected wind turbine extension. Its purpose is to undertake maintenance and repairs of wind turbine.
- Johnson Arabia, in May 2020, inducted 10 novel Grove rough terrain cranes into the fleet for targeting lifting projects in oil & gas sector.
- Thunder Cranes, in September 2022, announced reopening the operations in Middle East with new-fangled base in the UAE.
- Dubai Cranes & Technical Services LLC, in December 2020, tabled 8 novel models of the wire rope hoists that range from 3.2 to 40 tons.
- Liebherr, in July 2022, announced launching H2 direct injection for the heavy-duty combustion engines as it's conducive to heavy applications.
- Terex Corporation has inked an agreement with Galadari Heavy Equipment Division to distribute rough terrain cranes all over the Middle East.
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Key Segments Covered in MEA Rough Terrain Cranes Market Analysis
By Lifting Capacity:
- Upto 25 Tons
- 25.1 to 50 Tons
- 50.1-75 Tons
- 75.1-100 Tons
- More than 100 Tons
By Boom Length:
- Upto 25 Meters
- 25.1-35 Meters
- 35.1-50 Meters
- More than 50 Meters
By Sales Channel:
- New Sales
- Equipment Rental
- GCC Countries
- South Africa
- Northern Africa
- Rest of the Middle East and Africa
Table of Content
1. Executive Summary
1.1. MEA Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
What does the Report Cover?
- Future Market Insights offers an exclusive perspective and various real-time insights on the dermatology devices market in its latest study, presenting historical demand assessment of 2016 - 2021 and projections for 2022 - 2032.
The research study is based on lifting capacity (up to 25 tons, 25.1 to 50 tons, 50.1 to 75 tons, 75.1 to 100 tons, and more than 100 tons), by boom length (upto 25 meters, 25.1 to 35 meters, 35.1 to 50 meters, and more than 50 meters), and by sales channel (new sales and equipment rental).
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