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.
Valley Cottage, NY — (SBWIRE) — 07/23/2018 — The latest market outlook titled "Rough Terrain Cranes Market: Middle East and Africa Industry Analysis and Opportunity Assessment, 2016–2026″ by Future Market Insights offers imperative insights into the Middle East and Africa rough terrain cranes market for the forecast period 2016-2026.
The overall long-term outlook on the growth of MEA market for rough terrain cranes remains optimistic, with the market projected to grow at a promising CAGR of 5.6% through 2026. Over the assessment period, MEA market for rough terrain cranes will gain nearly 100 BPS, reaching a market size of over US$ 231 Mn by 2026 end. GCC countries currently account for a significant share of the MEA market – this will remain the trend throughout the forecast period. The next largest markets include South Africa, Israel, and Turkey, which is anticipated to be closely followed by the rest of MEA.
Key research findings strongly influencing the market growth– High initial capital and expensive maintenance continues to fuel preference for rental cranes over new crane sales. Lucrative opportunities abound in the high lifting capacity cranes i.e. > 100T capacity segment. Application in fracking pipe yards, transmission distribution lines, and tank firms will unlock new revenue generation opportunities. Implementation of automation and advanced telematics are identified to be the top influential developments.
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Focus on enhanced operator comfort and efficient fuel economy underpins introduction of new features in rough terrain cranes. GCC will remain the largest market in rental as well as new sales of rough terrain cranes within MEA. Maximum new sales will be registered in Turkey over 2016-2026. African countries will account for significant demand owing to rapidly developing power generation and distribution infrastructure, and burgeoning mining activities.
The market has been segmented for in-depth analysis over 2016-2026, into MEA rough terrain cranes market – new sales and MEA rough terrain cranes market – rental. While market for rental rough terrain cranes is likely to witness a CAGR of 5.3% reaching a value worth US$ US$ 247.4 Mn in 2026, market for new sales of rough terrain cranes is expected to reach US$ 142.0 Mn by 2026-end, expanding at a healthy CAGR of 5.9% over the assessment period.
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