Impact Analysis of Covid-19
The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.
Rough terrain crane is a type of hydraulic crane used for moving, lifting, loading, and unloading heavy materials across industrial, construction, and other application areas. Rough terrain cranes are typically designed to work on rough and off-road applications and surfaces. Rough terrain cranes are categorized on the basis of capacity and boom length. These cranes are available in different capacities including 25-50 tons, 50-75 tons, and 100 tons+. MEA rough terrain cranes market focuses on six regions namely GCC countries, Northern Africa, South Africa, Turkey, Israel, and Rest of the Middle East & Africa.
The MEA rough terrain cranes market is estimated to be valued at US$ 119.7 million in 2021 and is expected to exhibit a CAGR of 6.7% over the forecast period (2021-2028).
In February 2019, Liebherr, a German-based manufacturing company has received major order from Dubai-based Al Faris Equipment Rentals. The order worth around US$ 25.8 million which includes twelve cranes from the new LRT rough terrain cranes series, and more.
In July 2020, XCMG launched 750 tonnes XCA750 eight axle all-terrain crane. This crane comes with a seven section 92 meter main boom, topped by a heavy-duty hydraulically erected wind turbine extension, which is specifically designed for wind turbine repair and maintenance work.
In May 2020, Johnson Arabia, a Mobile Crane Rental and Aerial Work Platforms (AWP) hire company has inducted ten new Grove rough terrain cranes into its fleet to target lifting projects in the oil & gas and other sectors.
Figure 1. MEA rough terrain cranes Market Value (US$ Mn), by Country, 2020
GCC Countries held dominant position in the MEA rough terrain cranes Market in 2020, accounting for 59.17% share in terms of Value, followed by Turley, South Africa and Other countries, respectively.
MEA rough terrain cranes Market- Drivers
Increasing demand from emerging infrastructure and energy sectors is expected to drive growth of the MEA rough terrain cranes market during the forecast period. Rough terrain cranes are typically used on rough terrains and off-road activities. Since at an actual construction site, there are no roads and transportation routes, these cranes prove to be extremely useful in picking and carrying operations. Furthermore, the use of these rough terrain cranes is very beneficial and economical in such operational conditions. The construction industry and the oil & gas sector is in great demand in the MEA region. The growth of the construction, mining, and oil & gas industry will lead to increased demand for rough terrain cranes that are needed to pick and drop huge and heavy objects.
Growing demand for rental rough terrain crane is expected to propel the MEA rough terrain cranes market growth over the forecast period. The adoption of rental equipment has increased as compared to new units, owing to a relatively high cost of rough terrain cranes. Moreover, the demand for rental equipment is expected to increase in several countries with significant investment in expanding and establishing transport, electrical, and residential infrastructure. According to Coherent Market Insights’ analysis, revenue sales growth during the second half of the forecast period is expected to be significant, owing to a number of projects which are expected to commence post-2018.
Expanding urban population and growing industrialization can present lucrative growth opportunities. Rough Terrain Cranes find wide applications in the construction industry and are used to make tasks such as lifting, loading, and transportation more productive. Growing construction industry output is expected to be one of the most significant drivers for the MEA rough terrain cranes market. Rising urbanization, leading to new construction activities, is further expected to boost the demand for rough-terrain cranes in building and construction tasks. According to the United Nations DESA, as of 2014, 54% of the world population lives in urban areas. This share is projected to expand to 66% by 2050.
Incorporation of advanced telematics can provide major business opportunities. Major consumers across the market are increasingly demanding advanced rough train cranes with advanced diagnosis and automation. With research and development activities, major manufacturers are incorporating advanced telematics systems, which has improved their response time for custom requirements from clients. The introduction of new advanced components in the operator’s cabin has made the life of operators comparatively easy, allowing them to work in all kinds of adverse weather conditions.
MEA rough terrain cranes Market Report Coverage
||Market Size in 2021:
||US$ 119.7 Mn
|Historical Data for:
||2017 to 2020
||2021 to 2028
|Forecast Period 2021 to 2028 CAGR:
||2028 Value Projection:
||US$ 188 Mn
- By Lifting Capacity: Upto 25 Tonnes, 25 T-50 Tonnes, 50 T-75 Tonnes, 75 T-100 Tonnes, More than 100 Tonnes
- By Boom Length: Upto 25 Tonnes, 25 T-35 Tonnes, 35 T-50 Tonnes, More than 50 Tonnes
- By Country: GCC, Israel, Turkey, South Africa, Northern Africa, Rest of Middle East and Africa
The Manitowoc Company, Inc., Terex Corporation, KATO WORKS CO., LTD., Tadano Ltd., Sany Heavy Industry Co., Ltd, Zoomlion Heavy Industry Science And Technology Co., Ltd., Xuzhou Construction Machinery Group Co., Ltd., and Liebherr Group.
- Increasing demand from emerging infrastructure and energy sectors
- Growing demand for rental rough terrain crane
|Restraints & Challenges:
- Significant initial investment
- Lack of skilled personnel to operate the equipment
Conventionally, there have always been rough terrain cranes that use two separate engines for power transmission needed for the transportation and operation of cranes, depending upon the maximum load requirement. The manufacturers have now come up with a new trend of using one single powerful engine which can perform both functions efficiently. That apart, this trend also optimizes space and minimizes maintenance costs.
Growing research and development being undertaken by prominent market participants in the MEA region is estimated to create several growth opportunities for the rough terrain cranes market in coming future. The introduction of new technologies is further fueling the growth of the rough terrain cranes among the consumers in the MEA region. For instance, TADANO, a significant manufacturer of rough-terrain cranes in the MEA region, has introduced new models of cranes which include a fuel monitoring system and an eco-mode system which reduces fuel consumption and provides better control of the engine when the engine is in idle condition.
Figure 2. MEA rough terrain cranes Market Share, By Lifting Capacity, 2020
Key Takeaways of the Graph:
- The 50T -75 Tonnes segment held dominant position in the market and accounted for 33.8% share in the MEA rough terrain cranes Market in 2020. The segment is expected to reach US$ 64.1 million in 2028. This is owing to increased demand of lifting operations and are versatile in performing both on-road and off-road construction project.
Market Dynamics- Restraints
Significant initial investment is expected to hamper the MEA rough terrain cranes market growth over the forecast period. Major restraining factor for the market is high capital investment, which is dissuading end user to procure rough terrain cranes. Many company owners believe that if they use of equipment is not at least two-third of its average life, one should seriously consider renting the cranes as it is far more economical than purchasing it. Furthermore, the maintenance operations are required to be done on timely basis otherwise it can lead to critical failure. Thus, these factors expected to hamper the market growth in the near future.
Lack of skilled personnel to operate the equipment is expected to hinder the MEA rough train cranes market growth during the forecast period. Operating rough terrain cranes require skilled personnel with numerous years of experience. Since these devices are challenging to operate and somewhat risky and thus, adoption of these cranes has reduced.
Major companies operating in the MEA rough terrain cranes market are The Manitowoc Company, Inc., Terex Corporation, KATO WORKS CO., LTD., Tadano Ltd., Sany Heavy Industry Co., Ltd, Zoomlion Heavy Industry Science And Technology Co., Ltd. Xuzhou Construction Machinery Group Co., Ltd., and Liebherr Group.
- Major companies involved in the product launch, in order to expand the product portfolio. For instance, in February 2020, The Manitowoc Company, Inc. introduced Grove GRT8120 rough terrain crane.
- Key players in the market are involved in mergers and acquisitions, in order to enhance the market presence. For instance, in February 2019, Tadano Ltd. acquired Demag mobile crane business from Terex Corporation for around US$ 215 million.