Albany, NY — (PRESS RELEASE JET) — 09/14/2017 — The MEA rough terrain cranes market is estimated to reach US$ 226.9 Mn with new sales contributing to 35.2% share in value terms by 2016 end. The rental services of rough terrain cranes in MEA is expected to grow with a CAGR of 5.3% during forecast period to cross US$ 240 Mn by the end of 2026. While the new sales of rough terrain cranes are estimated to grow at a CAGR of 5.9% between 2016 and 2026 to exceed US$ 140 Mn by 2026 end. GCC is expected to remain dominant by volume share in the MEA rough terrain cranes market accounting for over 60% in market value by 2016 end.
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MEA Rough Terrain Cranes Rental Equipment: BPS Analysis by Lifting Capacit
Market size for medium capacity (50T-75T and 100 T and above) rough terrain cranes is expected to gain share over the forecast period. The CAGR of 100T and above capacity cranes is 5.8% which is 1.16X more than overall market growth.
Demand for 75 Tonnes to 100 Tonnes capacity rough terrain cranes is expected to remain stagnant over the forecast period as these cranes find more utilisation in large-scale construction projects as well as medium enterprise industrial maintenance applications.
Despite representing decline in market share for rough terrain cranes in the up to 50 Tonnes capacity, both the categories including less than 25 tonnes and 25-50 Tonnes capacity are collectively expected to add about US$ 14.5 Mn in incremental opportunity over the forecast period.
In the long run, small capacity rough terrain cranes seem profitable for mid-size construction equipment rental enterprises owing to the considerable frequency of rental bookings as well as incidences by small-scale construction developers and industrial MRO service providers.
MEA Rough Terrain Cranes Rental Equipment: Y-o-Y Projections by Lifting Capacity
The Y-o-Y growth largely depends on the extent of infrastructural development and industrial and commercial investments in a particular region.
Small capacity (<25T) and high capacity (over 50T) rough terrain cranes market is expected to increase during the latter half of the forecast period.
Slow economic development in most of the African countries and the long tenure of construction projects is expected to reflect erratic growth prospects over the forecast period.
MEA Rough Terrain Cranes Rental Equipment: Market Attractiveness Analysis by Lifting Capacity
Medium lifting capacity rough terrain cranes, i.e. 50 tonnes to 75 tonnes is expected to be the most attractive segment in the MEA rough terrain rental equipment market owing to their relatively high market share and incremental dollar opportunity.
The 100 tonnes and above segment is expected to be one of the most attractive segments in the MEA rough terrain rental equipment market owing to its highest CAGR of 5.8%.
Higher demand for large lifting capacity cranes such as 100 tonnes and above in construction projects and refineries is estimated to attribute to the development of the segment.
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MEA Rough Terrain Cranes New Sales Equipment: BPS Analysis by Lifting Capacity
Market size for medium as well as high capacity (75T to 100T and 100 T and above) rough terrain cranes is expected to gain share over the forecast period. Both these segments are collectively projected to gain 180 BPS between 2016 and 2026.
50T to 75T lifting capacity segment is expected to gain 40 BPS between 2016 and 2026, to reach US$ nearly 50 Mn by the end of 2026.
25T to 50T and less than 25T lifting capacity cranes are estimated to collectively hold 28.4% market share in 2016 and are projected to lose 220 BPS to reach 26.2% market share by the end of 2026.
MEA Rough Terrain Cranes New Sales Equipment: Y-o-Y Projections by Lifting Capacity
100T and above lifting capacity segment is expected to grow significantly over the forecast period owing to its high demand in oil and gas, construction, etc. in GCC countries, South Africa and Turkey.
Owing to increased oil production in UAE, Qatar, etc., 75T to 100T lifting capacity segment is projected to show high growth during the forecast period.
Less than 25T lifting capacity segment is expected to decline due to limited applications and is expected to register the lowest CAGR of 4.4%.
MEA Rough Terrain Cranes New Sales Equipment: Market Attractiveness Analysis by Lifting Capacity
Owing to its high demand in gas projects in GCC countries, high speed railway projects, etc., 50T to 75T lifting capacity segment is expected to be the most attractive segment by market share and incremental opportunity.
25T to 50T lifting capacity segment is expected to witness a CAGR of 5.4% over the forecast period and is estimated to lose market share.
Less than 25 Tonnes lifting capacity is expected to move downwards owing to a low CAGR of 4.4% over the forecast period.
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