Ascending Horizons: Mini Cranes Market in GCC to Scale New Heights with 5.8% CAGR, Envisioned to Touch US$ 41.1 Million by 2032

The GCC Mini Cranes Market report, authored by Future Market Insights-an ESOMAR Certified Market Research and Consulting Firm-unveils profound insights and meticulous analysis of the GCC Mini Cranes market. Encompassing the research's ambit and essence, the report scrutinizes the driving determinants, market expanse, and predictive statistics for GCC Mini Cranes. It offers exhaustive breakdowns of revenue and shipment segments, with an extensive 10-year forecast till 2033. Furthermore, the document evaluates pivotal industry players, their market apportionments, the competitive terrain, and regional insights.

Future Market Insights (FMI) predicts that the GCC market for mini cranes will increase between 2022 and 2032 at a CAGR of 5.8%, reaching a value of US$ 41.1 million. In 2022, Mini Cranes Type, Pick, and Carry Cranes will account for more than 52.1% of the GCC market.

The demand for mini cranes has increased as a result of the growth of public infrastructure and the popularity of entertainment locations like museums, galleries, and theme parks that must heavily rely on goods lifting machinery due to space limitations. The increased investment in leisure time in the countries of the Gulf region is what motivates this. For instance, in order to improve its hospitality, the UAE is focusing on developing large-scale projects like the Abrahamic Centre.

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Rubber-tired mini cranes are another product that manufacturers are concentrating on creating because of their interior applications in GCC nation skyscrapers and high-rise structures. The demand for light lifting equipment with safety features has grown as a result of a recent wave of incidents in the area. Due to their ease of operation in small and constrained spaces, mini cranes have superior components and more safety measures, which is increasing demand for these tools in the region.

The use of mini cranes has grown significantly over the past few years, as has their manufacture all over the world. The capacity of tiny cranes to operate well in small places and compact regions is predicted to significantly increase demand, despite the fact that they are niche products.

Key Takeaways of Mini Cranes Market Study

Over the course of the forecast period, the value of the mini cranes with lifting capacity between 2 to 4.9 tons is estimated to account for about 15.4 Mn in 2022.
In terms of Type, Pick and Carry Cranes is anticipated to account for more than 52% of the GCC market and grow at a value CAGR of about 5.3% during the projected period.
In the GCC market, demand for fuel-operated mini cranes is increasing at a value CAGR of 5.7%.
The Construction industry in GCC Mini Cranes is projected to expand at 6.2%, making it a prominent sector as a result of increased investment in real estate and commercial infrastructure development.
By Ownership, the rented segment is estimated to hold a significant share of about 89.7% in 2022.

Competitive Landscape

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

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The research report analyzes the market demand trends of Mini Cranes. The GCC Countries' market estimation and growth projection are based on factors like end-use industries development, COVID-19 crisis impact, replacement ratio, and adoption rate of Mini Cranes. As per Future Market Insights research scope, the Mini Cranes Market has been studied and segmented on the basis of lifting capacity, type, operation, end-use sector, and ownership. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, the supply side and demand side.

Key Segments Covered in Mini Cranes Industry Analysis

Mini Cranes Market by Lifting Capacity:

Up to 1 Ton
1 to 1.8 Ton
2 to 2.4 Ton
2.5 to 4.9 Ton
5 to 10 Ton
11 to 22 Ton

Mini Cranes Market by Type:

Spider Cranes
Crawler Cranes
Articulated
Telescopic
Telescopic Pick and Carry Cranes

Mini Cranes Market by Operation:

Fuel Operated
Battery Operated

Mini Cranes Market by End-Use Sector:

Industrial
Foundries
Power Plants
Others
Construction
Residential and Commercial
Industrial
Civic Infrastructure
Facility Management
Commercial
Industrial
Marine
Material Handling and Logistics
Others

Mini Cranes Market by Ownership:

Direct Owned
Rented

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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

This release was published on openPR.