Saudi Arabia Crane Market Size, Share, Trend, Analysis & Industry Forecast 2026by Mack Nene SEO | Digital Marketing
Lucrative housing schemes and huge investments in construction industry are expected to drive Saudi Arabia Crane Market throughout 2026.
According to TechSci Research report, “Saudi Arabia Crane Market By Type of Crane (Mobile Crane, Fixed Crane, Marine and Offshore Crane), By End User (Construction, Industrial Applications, Energy & Power, Marine and Offshore, Mining and Excavation), By Application (Material Handling, Excavation & Demolition, Recycling & Waste Management, Tunnelling and Others), By Region, By Company, Forecast & Opportunities, 2026”, Saudi Arabia crane market is expected to grow at a steady rate during the forecast period owing to launch of government initiatives to boost housing construction industry for instance ESKAN project to build 500,000 units of houses and the construction of 1,500,000 unit houses in the coming next years which is anticipated to foster the crane markets in Saudi Arabia market. Since the fall in prices of the oil, there is hit on the economy, and to boost economy government is trying to diversify other sectors as well as a part of megaproject plan VISION 2030.
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Saudi Arabia crane market can be segmented based on type of crane, end user, application, region, and company. Based on the end user, market can be segregated into construction, industrial applications, energy & power, marine and offshore, mining and excavation. Mining and excavation were playing a major role till 2020 for the growth of the Saudi crane market. Depending on current scenario and present on-going government initiatives, construction sector is expected to play a key role for the growth of the Saudi Arabia crane market. The Sakani program initiative which majorly focuses on developing 500,000 is expected to influence the crane market as more than 500,000 residential spaces will be constructed coupled with construction of residences, offices, and global retail brands to upscale the Saudi Arabia crane market. Huge number of projects relating to construction and development are in pipeline which is further anticipated to boost the crane market and help it flourish at an astounding rate. Industrial applications and energy & power sector are also anticipated to witness fastest incremental growth in the next five years owing to the diverse applications in tank firms, distribution lines and expansion of industries along gulf coast to majorly impact the Saudi Arabia crane market growth.
GH Cranes Arabia FZCO, Caterpillar Inc, Hitachi Construction Machinery Limited, Tadano Limited, Liebherr Group, Kobe Steel, Ltd, HUTA Group, ACT Crane & Heavy Equipment, Grove Worldwide LLC, RCF Co. Riyadh Cranes Co are the leading players operating in Saudi Arabia crane market.
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“Tourism industry is anticipated to undergo significant boost owing to launch of plethora of megaprojects for instance Neom super-city, Red Sea Project and transformation of Unesco World Heritage site Al-Ula for tremendous upgradation to subsequently make Saudi Arabia the center of tourist attraction and to accommodate huge number of tourists the hotel industry is anticipated to grow at a fast rate thereby propelling the demand for cranes market to do construction related activities in Saudi Arabia most populous cities such as Riyadh, Makkah, Madinah and other cities is anticipated to influence the Saudi Arabia crane market until 2026”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Saudi Arabia Crane Market By Type of Crane (Mobile Crane, Fixed Crane, Marine and Offshore Crane), By End User (Construction, Industrial Applications, Energy & Power, Marine and Offshore, Mining and Excavation), By Application (Material Handling, Excavation & Demolition, Recycling & Waste Management, Tunnelling and Others), By Region, By Company, Forecast & Opportunities, 2026” has evaluated the future growth potential of Saudi Arabia crane market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the Saudi Arabia crane market.
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Created on Nov 18th 2021 04:21. Viewed 175 times.