The GCC crane market size reached US$ 2.6 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.1% during 2023-2028.
|GCC Crane Market Size in 2022
||US$ 2.6 Billion
|GCC Crane Market Forecast in 2028
||US$ 3.3 Billion
|GCC Crane Market Growth Rate 2023-2028
A crane is a construction machinery that is extensively used for lifting and transporting heavy loads. It functions with the help of hydraulics and internal combustion engine systems. It is utilized across various industries such as the transport industry for loading and unloading freight and in the manufacturing industry for assembling heavy equipment. Moreover, different cranes, such as aerial cranes, truck-mounted cranes, and mobile cranes are employed for constructing high-rise office buildings and modular homes.
The GCC crane market is primarily driven by the increasing construction and infrastructure projects in the region, which have increased the interest of various domestic and foreign tower crane manufacturers in the region. Additionally, there has been a rise in the demand for high capacity cranes due to the commencement of numerous energy-related projects and industrial facilities construction. For instance, Mammoet, a privately held Dutch company, has been involved in the expansion of a polypropylene plant on the gulf coast, which will increase the production capacity by an additional 450,000 tons per year. Furthermore, the application in fracking pipe yards, transmission distribution lines, and tank firms will present new revenue generation opportunities in the region during the next few years.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC crane market report, along with forecasts at the regional and country level from 2023-2028. Our report has categorized the market based on product type and application.
Breakup by Product Type:
- Mobile Cranes
- Marine and Port Cranes
- Fixed Cranes
Breakup by Application:
- Construction and Infrastructure
- Oil and Gas
Breakup by Country:
- Saudi Arabia
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis
|| Product Type, Application, Country
|| Saudi Arabia, UAE, Qatar, Oman, Kuwait ,Bahrain
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Key Questions Answered in This Report:
- How has the GCC crane market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the GCC crane market?
- What are the key regional markets?
- What is the breakup of the market based on the product type?
- What is the breakup of the market based on the application?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the GCC crane market and who are the key players?
- What is the degree of competition in the industry?