Middle East Tower Crane Market Research Report Information by Type (hammerhead cranes, luffing tower cranes, self-erecting tower cranes, flat top tower cranes), by Design (top slewing, bottom slewing , by Lifting Capacity ((up to 5 tons, 5 tones-10 tones, 10 tones- 20 tones, 20 tones-50 tones, above 50 tones), By Application (construction, bridge construction, shipyards, power plant, high rise building), by Country (Saudi Arabia, UAE, Qatar, Kuwait, Rest of Middle East)- Forecast to 2030
Middle East Tower Crane Market is anticipated to register a healthy market expansion of 5.1% during the review period. The Middle East Tower Crane market has witnessed remarkable market growth in recent years and projected to experience notable sales during the predictable year, factor like rise in construction sector followed by increasing demand for ship dockyards are the major factor driving the market for tower crane market. Furthermore, rapid urbanization and population growth have spurred the need for residential, commercial, and industrial development, creating a surge in construction activities. Additionally, ambitious infrastructure projects, such as transportation networks, airports, and mega-cities, further propel the demand for tower cranes to facilitate the construction process.
Market SegmentationBased on type, the Middle East Tower Crane market has been segmented into hammerhead cranes, luffing tower cranes, self-erecting tower cranes, flat top tower cranes.
Based on design, the Middle East Tower Crane market has been segmented into top slewing, bottom slewing. In 2022, the top slewing segment drove the Middle East Tower Crane market by holding a substantial market share with a market value of USD 606.1 million. It is projected to register a 5.4% CAGR during the projected timeframe.
Based on lifting capacity, the Middle East Tower Crane market has been segmented into up to 5 tons, 5 tones-10 tones, 10 tones- 20 tones, 20 tones-50 tones, above 50 tones. In 2022, the 10 tones - 20 tones drove the Middle East Tower Crane market by holding a substantial market share with a market value of USD 288.4 million. It is projected to register a 4.5% CAGR during the foreseeable future.
Based on application, the Middle East Tower Crane market has been segmented into dam construction, bridge construction, shipyards, power plant, high rise building. In 2022, the high-rise building application segment drove the Middle East Tower Crane market by holding a substantial market share with a market value of USD 297.9 million. It is projected to register a 4.5% CAGR during the projected timeframe.
Based on country, the Middle East Tower Crane market has been segmented into Saudi Arabia, UAE, Qatar, Kuwait, Rest of Middle East. The Saudi Arabia region is anticipated to drive the Middle East Tower Crane market throughout the forecast period. The target region is anticipated to offer a total incremental opportunity of USD 686.5 Million by the end of 2030.
Major PlayersThe key players operating in the Middle East tower crane market include Liebherr, Wolffkran, Yongmao Holdings Limited, The Manitowoc Company, Shenyang Sanyo Building Machinery Co, Ltd, COMANSA, Sany Group, Zoomlion, Raimondi, XCMG, among others.
It is anticipated that the Middle East Tower Crane Market will experience a robust 5.1% market expansion during the review period. The Middle East Tower Crane market has experienced significant growth in recent years and is expected to generate substantial sales in the foreseeable future. The primary factors driving the market are the rise in the construction sector and the subsequent increase in demand for ship dockyards. Additionally, the necessity for residential, commercial, and industrial development has been exacerbated by the rapid urbanization and population growth, resulting in a significant increase in construction activities. Furthermore, the demand for tower cranes is further bolstered by ambitious infrastructure projects, including transportation networks, airports, and mega-cities, which are designed to expedite the construction process.
Market SegmentationThe Middle East Tower Crane market has been segmented into four types: hammerhead cranes, luffing tower cranes, self-erecting tower cranes, and flat top tower cranes. This segmentation is based on its type.
The Middle East Tower Crane market has been categorized into top slewing and bottom slewing based on design. The Middle East Tower Crane market was significantly influenced by the top slewing segment in 2022, which possessed a market value of USD 606.1 million and a significant market share. It is anticipated that the compound annual growth rate (CAGR) will be 5.4% during the anticipated timeframe.
The Middle East Tower Crane market has been segmented into the following categories: up to 5 tons, 5 tones-10 tones, 10 tones-20 tones, 20 tones-50 tones, and above 50 tones, all of which are based on lifting capacity. The Middle East Tower Crane market was predominantly driven by the 10 tones - 20 tones in 2022, with a market value of USD 288.4 million. It is anticipated to experience a compound annual growth rate (CAGR) of 4.5% in the near future.
The Middle East Tower Crane market has been segmented into shipyards, dam construction, bridge construction, power plant construction, and high-rise building construction, based on application. The Middle East Tower Crane market was significantly influenced by the high-rise building application segment in 2022, which accounted for a substantial market share with a market value of USD 297.9 million. During the anticipated timeframe, it is anticipated to exhibit a compound annual growth rate (CAGR) of 4.5%.
The Middle East Tower Crane market has been segmented into Saudi Arabia, UAE, Qatar, Kuwait, and the Rest of the Middle East, based on country. It is anticipated that the Middle East Tower Crane market will be driven by the Saudi Arabia region for the duration of the forecast period. It is anticipated that the target region will provide a total incremental opportunity of USD 686.5 million by the conclusion of 2030.
Major PlayersLiebherr, Wolffkran, Yongmao Holdings Limited, The Manitowoc Company, Shenyang Sanyo Building Machinery Co, Ltd, COMANSA, Sany Group, Zoomlion, Raimondi, and XCMG are among the prominent participants in the Middle East tower crane market.