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The GCC crane market is currently witnessing moderate growth. 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. On account of these factors, the market is expected to continue its moderate growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the GCC crane market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, product type and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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