According to Future Market Insights (FMI), between 2022 and 2032, the GCC market for Mini Cranes will grow at a CAGR of 5.8%, reaching a valuation of USD 41.1 Million in 2032. Mini Cranes Type, Pick, and Carry Cranes make up over 52.1% of the total GCC market in 2022.
The World Bank predicts that in 2023, the GCC economy would expand at a moderate rate of 5.9%, which is expected to have an effect on the construction and infrastructure sectors across a number of countries. In GCC nations, a rising trend in capital expenditure on infrastructure development, increased demand for skyscraper glazing work, and increased civil construction activity have all been seen to bolster the market for Mini Cranes.
| Report Attributes | Details |
|---|---|
| GCC Mini Cranes Market Size (2021A) | USD 22.2 Million |
| GCC Mini Cranes Market Size (2022E) | USD 23.3 Million |
| Projected Mini Cranes Market Value (2032F) | USD 41.1 Million |
| Value CAGR (2022 to 2032) | 5.8% |
| Collective Value Share: Top 3 Countries (2022) | 83.4% |
The remote control operation of the Mini cranes, which are employed in confined spaces, enables operators to easily manage the equipment without causing any harm to indoor structures. GCC Mini Cranes Market accounts for around 3-5% of the Global Mini Cranes Market.
According to historical data from 2017 to 2021, the market for GCC Mini Cranes increased by volume at a CAGR of 5.5%. The estimated GCC Countries’ market demand for Mini Cranes in 2022 is USD 23.3 Million.
In GCC nations like Saudi Arabia and the United Arab Emirates, construction has increased. Due to rising investment in development projects like high-rise buildings, mini crane manufacturers are focusing on this region. The demand for mini cranes such as spider, crawler, and pick & carry cranes have increased in the region due to an increase in large-scale projects and an increase in lifting and carrying activities at construction sites.
Numerous countries, like the United Arab Emirates(UAE), Saudi Arabia, Kuwait, and Qatar, have seen a surge in industrial production as a result of rising population and disposable income. For instance, the Jafza Logistics Park project launched in Dubai is projected to complete its first phase in 2023.
Manufacturing and logistics are expected to support the economy going forward, notwithstanding the pandemic. Due to rising investment and consumption in various nations, including Qatar and the United Arab Emirates, lifting solutions are becoming more and more necessary in the manufacturing and logistics industries.
Growing Demand from Power Generation and Utility Sectors to Boost Market Demand
Mini cranes are expected to become more popular as the electrical and utility industries develop in the Gulf countries. These cranes have a number of benefits, including minimum ground preparation requirements, limited space requirements, and appropriate lifting capacities. Their acceptance has grown across a number of sectors in the area, particularly in real estate and business development initiatives.
As a result, manufacturers are offering their end users better products, more sophisticated marketing tactics, and adequate service and support. Due to growing capital investment in power plants and utility projects, there is a substantial demand coming from these industries. In order to install machinery, equipment, and metal structures in confined areas, mini cranes are employed in several GCC Countries.
Increasing Demand from Material Handling and Logistics Industry
As production capacity has expanded, sales of material handling equipment have substantially increased. Improvements to existing manufacturing facilities and the rising need for material handling equipment are expected to lead to increased demand for lifting and carrying equipment like spider cranes and mini pick-and-carry cranes.
Due to growing consumption, increased disposable income, and investments in numerous nations, lifting solutions are becoming more and more necessary in the manufacturing and logistics industries. Apart from the oil and gas industry, governments in GCC nations are also making significant investments in a number of other fields to boost their economies, including material handling, logistical infrastructure, and real estate development.
Rising Applications of Mini Cranes in Entertainment Spaces and Civic Infrastructure
Glass panes, glass structures, pipelines, and beams are all easily lifted by mini cranes. Due to their ease of movement through elevators, staircases, and uneven floors, mini cranes are becoming more and more popular in a variety of commercial locations, including shopping centers, for the installation of display panels, shop windows, and glass facades on buildings, homes, and skyscrapers.
Due to the expansion of public infrastructure and the popularity of entertainment venues like museums, galleries, and theme parks that make considerable use of goods lifting equipment due to space constraints, the need for mini cranes has expanded.
Rising Demand for Safety Features in GCC Mini Cranes Market
Mini cranes can execute highly skilled lifting operations and are equipped with modern safety features like outrigger interlocks, which guarantee chassis stabilization prior to any lifting operations. A number of nations are tightening their regulations for manufacturers, crane contractors, and rental businesses as a result of rising health and safety awareness.
There will likely be a rise in demand for battery-powered mini-cranes as a result of the Gulf nations modifying their regulations regarding emissions from buildings and other structures. As awareness about environmentally friendly and renewable energy sources increases, manufacturers are investing in the development of mini cranes that run on batteries.
United Arab Emirates(UAE) Mini Cranes Market accounts for around 40.8% of the GCC mini cranes market followed by Saudi Arabia. Saudi Arabia is expected to grow at a value CAGR of 6.7%, followed by United Arab Emirates(UAE) at a volume CAGR of about 4.9%. In both regions, sales of Mini Cranes are projected to total USD 16.4 Million in 2022.
Due to improved performance, more safety features, and an optimal design that maximizes visibility for the operator, demand for mini cranes is steadily growing. Rising demand for high-risers is projected to boost the safety features of mini cranes. Pick and Carry Cranes is expected to grow over the projected period and create an absolute dollar opportunity of about USD 8.20 Million
Increasing Expenditure on Infrastructural Development in GCC Countries
The need for construction equipment is expected to grow further as a result of rising capital expenditure on infrastructure development for a range of tasks, such as glazing, working on skyscrapers, handling supplies and equipment on rooftops, and performing civil construction work at airports, building sites, and entertainment venues.
Due to their flexible design and low-weight carrying capabilities, mini cranes offer operators the added benefit of being able to easily lift and transfer goods and materials. For instance, the Ministry of Kuwait made a capital expenditure of about USD 1.8 billion on infrastructure projects, including real estate and industrial construction work, in the financial year 2021.
The GCC Countries are anticipated to grow at a volume CAGR of roughly 5.5% during the projected period, reaching a value of about USD 23.3 Million in 2022. Owing to rising capital expenditure, the construction end-use industry is a prominent market contributor in the GCC Mini cranes market and is predicted to develop at a CAGR of 6.2% and reach a value of USD 29.5 Million in 2032.
Saudi Arabia and United Arab Emirates(UAE) together are estimated to create an absolute dollar opportunity of about USD 12.7 Million during the forecast period 2022 to 2032
Market Growth led by Saudi Arabia, and the United Arab Emirates
The majority of Mini Cranes sales are made in United Arab Emirates(UAE) and Saudi Arabia, all of which have stable growth prospects. From 2022 to 2032, the United Arab Emirates(UAE) market for Mini Cranes is anticipated to grow at a value CAGR of 5.3%.
The United Arab Emirates(UAE) market is seeing an increasing demand owing to increased lifting and carrying operations at museums, malls, residential projects, and logistics parks. Increased construction of high-rise buildings for residential and commercial purposes is growing at a value CAGR of 5.8% during the projected period and reaching a value of about USD 11.5 Million.
Spider Cranes by Type to grow with a value CAGR of 6.5% during the projected period
Spider cranes make it possible to complete large-scale building projects with the little space that is available. Spider cranes help to expedite lifting and placing tasks in such small spaces. The need for pick-and-carry cranes is increasing significantly as a result of the operations in the construction, oil, gas, and other associated industries changing as a result of the current regional scenario. Gulf countries are encouraging investment in a wide range of sectors, including tourism and real estate, in order to diversify their economies.
Spider Cranes is estimated to reach a value of about USD 8.8 Million in 2022. Pick and Carry Cranes by Type are projected to grow with a value CAGR of 5.3% to reach a valuation of about USD 20.4 Million by 2032.
Industrial and Construction End Use Sector are increasing demand for Mini Cranes and is projected to create an absolute dollar opportunity of about USD 14.8 Million
Lifting weights around construction sites in constrained places, real estate, and industrial operations require goods and material handling equipment. As they can move loads inside residential and commercial spaces, mini cranes are frequently utilized in the construction sector.
Mini cranes utilized in confined spaces can be operated remotely, making it easy for operators to control the equipment without endangering indoor structures. Mini cranes are widely used in industrial maintenance for all types of lifting and material handling in factories, production lines, chemical plants, and the automotive industry.
Furthermore, the demand for mini cranes for industrial applications is rising in the GCC countries at a value CAGR of 5.9% during the projected period to reach a value of about USD 32.7 Million in 2032. The construction End Use sector is estimated to create an absolute dollar opportunity of about USD 13.4 Million during the projected period.
Owing to their design and safety features, manufacturers of mini cranes are constantly under pressure to increase the machine's performance. A number of players, notably UNIC Cranes, Maeda Seisakusho Co., Ltd., Jekko SRL, Henan Spt Machinery Equipment Co., Ltd., and XCMG Group hold the majority of the market share for mini cranes in this moderately consolidated market.
By introducing new products and collaborating with rental agencies in the GCC market, manufacturing companies intend to improve the market supply of their mini cranes.
| Attribute | Details |
|---|---|
| Forecast Period | 2022 to 2032 |
| Historical Data Available for | 2017 to 2021 |
| Market Analysis | USD Million for Value, Units for Volume |
| Key Regions Covered | GCC Countries |
| Key Countries Covered | Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, United Arab Emirates(UAE) |
| Key Market Segments Covered | Lifting Capacity, Operation, Type, End Use Sector, Ownership, Region |
| Key Companies Profiled | UNIC-Furukawa Company Ltd; MAEDA SEISAKUSHO CO., LTD.; Jekko SRL; HENAN SPT MACHINERY EQUIPMENT CO., LTD; XCMG Group; Hoeflon; Manitex International; Palazzani; BG Lift Cranes; R&B Engineering; Galizia; JMG Cranes |
| Report Coverage | Market Forecast, brand share analysis, competition intelligence, Drivers, Restraints, Opportunities and Threats analysis, Market Dynamics and Challenges, Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The GCC Mini Cranes market is currently valued at 23.3 Million (2022) owing to increasing demand from the construction, industrial, and facility management sectors.
Mini Cranes sales are projected to soar between 2022 and 2032 at a value CAGR of about 5.8%.
Tier-1 companies in the GCC market include UNIC Cranes, Maeda Seisakusho Co., Ltd., Jekko SRL, Henan Spt Machinery Equipment Co., Ltd., and XCMG Group.
Fuel Operated mini cranes have the largest share in the Mini Cranes market, accounting for nearly 82.4% of the market by volume in 2022.
Rental companies are growing at a value CAGR of 5.9% during the projection period owing to a reduction in expenses of equipment maintenance activities.
The GCC market is dominated by United Arab Emirates(UAE) followed by Saudi Arabia, which is anticipated to expand and reach a value of about USD 12.7 Million in 2032.
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GCC Mini Cranes Market
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