PUBLISHER: Market Research Future | PRODUCT CODE: 1522708
PUBLISHER: Market Research Future | PRODUCT CODE: 1522708
Asia Pacific and the Middle East Crane Market Research Report Data Analysis 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 - Forecast to 2030
Due to the development of mega projects around the Middle East region, which is boosting the market for crane industry, the Asia-Pacific and Middle East Crane Market is projected to witness a boom in demand. as well as the expansion of low- to high-rise structures in the residential and commercial sectors is probably going to fuel market expansion in the specified regions from 2023 to 2030.
Over the projection period of 2023-2030, the Asia-Pacific and Middle East Crane Market is expected to develop at a 4.5% CAGR. With a 74.4% market share, Asia-Pacific led the Middle East Crane Market in 2022, with China accounting for most of the market.
The market for cranes in Asia-Pacific and the Middle East has been divided into segments according to type, carrier type, capacity, application, and geographies. The Asia-Pacific and Middle East Crane Market has been divided into two segments based on type: mobile cranes and stationary cranes.
The wheel mounted, track mounted, and other segments of the Asia-Pacific and Middle East Crane Market are divided based on the type of carrier. Over the projected period, the track mounted segment is anticipated to grow at a rate of 4.6%. The segment's share of the Middle East and Asia-Pacific crane market was 43.3% in 2022.
The crane market in Asia-Pacific and the Middle East has been divided into segments according to 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. Throughout the projected period, a 3.4% growth rate is anticipated in the 50 to 250 MT segment. The segment's share of the Middle East and Asia-Pacific crane market was 29.5% in 2022.
The applications of cranes in the Asia-Pacific and Middle East market are divided into construction, mining, manufacturing, power & utility, oil & gas, and others. Over the projected period, the construction segment is anticipated to grow at a rate of 3.4%. The sector accounted for 32.0% of the Middle East and Asia-Pacific crane market in 2022.
The Asia-Pacific and Middle East Crane Market study has been divided into two sections based on country: Asia-Pacific and Middle East.
Liebherr 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 other prominent players are among those involved in the crane market in Asia Pacific and the Middle East.