According to the Future Market Insights report, the GCC Mini Cranes Market is anticipated to reach US$ 23.3 Mn in 2022 while expanding at a CAGR of 5.8% from 2022 to 2032. Mini cranes are made to go to locations that regular or large cranes cannot, or where using them would be unreasonably expensive. Due to the expansion of public infrastructure and the popularity of entertainment venues like museums, galleries, and theme parks that must make considerable use of goods lifting equipment due to space constraints, the need for mini cranes has expanded. This is spurred on by the increased investment in leisure time in Gulf region nations. For instance, the UAE is concentrating on creating large-scale projects like the Abrahamic Center to boost its hospitality and tourism industries.
Rubber-tired mini cranes are another product that manufacturers are concentrating on creating because of their interior applications in GCC nation skyscrapers and high-rise structures. The demand for light lifting equipment with safety features has grown as a result of a recent wave of incidents in the area. Due to their ease of operation in small and constrained spaces, mini cranes have superior components and more safety measures, which is increasing demand for these tools in the region.
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The use of mini cranes has grown significantly over the past few years, as has their manufacture all over the world. The capacity of tiny cranes to operate well in small places and compact regions is predicted to significantly increase demand, despite the fact that they are niche products.
Key Takeaways of Mini Cranes Market Study
- Over the course of the forecast period, the value of the mini cranes with lifting capacity between 2 to 4.9 tons is estimated to account for about 15.4 Mn in 2022.
- In terms of Type, Pick and Carry Cranes is anticipated to account for more than 52% of the GCC market and grow at a value CAGR of about 5.3% during the projected period.
- In the GCC market, demand for fuel-operated mini cranes is increasing at a value CAGR of 5.7%.
- The Construction industry in GCC Mini Cranes is projected to expand at 6.2%, making it a prominent sector as a result of increased investment in real estate and commercial infrastructure development.
- By Ownership, the rented segment is estimated to hold a significant share of about 89.7% in 2022.
“Growing governmental and private investment in the GCC region, particularly in Saudi Arabia and the UAE markets, is driving up demand for mini cranes therein. Mini crane operators and rental companies in the area have a strong preference for affordable, effective, and secure construction machinery. Manufacturers are boosting their partnerships and collaborations with mini-crane rental companies, contractors, and machine owners in the region in order to get into the market.” says Future Market insights analyst
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Competitive Landscape
The top manufacturers dominate the Mini Cranes market in the GCC region, which is moderately consolidated. Market players are attempting to increase their market share by partnering and collaborating with rental companies and contractors in the region. Furthermore, the key players are launching new products in the market such as battery-powered mini cranes to abide by indoor emission regulations by the government. UNIC Cranes, Maeda Seishakuso Ltd., Jekko Srl, Henan SPT Machinery Equipment Co. Ltd., and XCMG group are a few of the market’s major participants.
Find More Valuable Insights
The research report analyzes the market demand trends of Mini Cranes. The GCC Countries market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of Mini Cranes. As per Future Market Insights research scope, the Mini Cranes Market has been studied and segmented on the basis of lifting capacity, type, operation, end use sector, and ownership. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.
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