Asia Pacific and the Middle East Crane Market Research Report Information by Type (Mobile Crane, and Fixed Crane), Carrier Type (Wheel Mounted, Track Mounted, and others), Capacity (Up to 5 MT, 5 to 50 MT, 50 to 250 MT, 250 to 500 MT, 500 to 1,500 MT, 1,500 to 3,000 MT, and above 3,000 MT), Application (Construction, Mining, Power & Utility, Manufacturing, Oil & Gas, and others), and Region – Industry Forecast to 2030
Due to the promotion of colossal projects throughout the Middle East region, the crane industry is anticipated to experience a significant increase in demand in the Asia-Pacific and Middle East Crane Market. It is anticipated that the market growth in the regions will be bolstered by the transition from low-rise to high-rise buildings in the commercial and residential sectors during the forecast period, which spans from 2023 to 2030.
During the forecast period of 2023–2030, the Asia-Pacific and Middle East Crane Market is expected to expand at a compound annual growth rate (CAGR) of 4.5%. The Asia-Pacific and Middle East Crane Market was dominated by Asia-Pacific with a 74.4% share in 2022, with China holding the majority share of the market in the region.
Market SegmentationThe Asia-Pacific and Middle East Crane Market has been segmented according to carrier type, type, capacity, application, and regions. The Asia-Pacific and Middle East Crane Market has been segmented into fixed crane and mobile crane based on type.
The Asia-Pacific and Middle East Crane Market has been segmented into wheel-mounted, track-mounted, and other categories by carrier type. During the forecast period, the track mounted segment is anticipated to expand at a rate of 4.6%. In 2022, the segment accounted for 43.3% of the Asia-Pacific and Middle East Crane Market’s market share.
The Asia-Pacific and Middle East Crane Market has been segmented into the following ranges: up to 5 MT, 5 to 50 MT, 50 to 250 MT, 250 to 500 MT, 500 to 1,500 MT, 1,500 to 3,000 MT, and above 3,000 MT. This distribution is based on capacity. Throughout the forecast period, it is anticipated that the 50 to 250 MT segment will expand at a rate of 3.4%. In the Asia-Pacific and Middle East Crane Market in 2022, the segment possessed a 29.5% market share.
Construction, mining, power & utility, manufacturing, oil & gas, and others comprise the Asia-Pacific and Middle East Crane Market, which is segmented according to application. Throughout the forecast period, it is anticipated that the construction sector will expand at a rate of 3.4%. The segment's market share of the Asia-Pacific and Middle East Crane Market was 32.0% in 2022.
The Asia-Pacific and Middle East Crane Market report has been segmented by country.
Major PlayersLiebherr Group, XCMG Construction Machinery Co., Ltd. (XCMG), The Manitowoc Company, Zoomlion Heavy Industry Science and Technology Co., Ltd., Sany Group, Terex Corporation, Tadano Ltd., Kato Works Co Ltd., Kobelco Construction Machinery Co., Ltd., Sumitomo Heavy Industries, Ltd., and others are among the primary players in the Asia Pacific & Middle East crane market.