Foldable Boom Segment to Dominate Middle East & Africa Hydraulic Marine Cranes Market during 2018–2028

According to a new market research study on “Middle East & Africa Hydraulic Marine Cranes Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Design, Capacity, and Boom Length” is expected to reach US$ 397.88 million by 2028 from US$ 298.70 million in 2021. The market is estimated to grow at a CAGR of 4.2% from 2021 to 2028. Development of large number of ports is the major factor driving the growth of the Middle East & Africa hydraulic marine cranes market. However, regulatory pressure on fishing industry may hinder the growth of Middle East & Africa hydraulic marine cranes market. The report provides trends prevailing in the Middle East & Africa hydraulic marine cranes market along with the drivers and restraints pertaining to the market growth.

The UAE, South Africa, Morocco, Saudi Arabia, and Kuwait are the main countries that faced the economic effects of COVID-19 in the Middle East & Africa. The MEA hydraulic marine crane market is majorly affected by the disruption in the national and international supply chains due to the shutdown of country borders. Moreover, the limited seaborne trade further impacted the hydraulic marine crane market performance in 2020 in the MEA. However, as trading activities picked pace in the last quarter of 2020, the market players are experiencing steady growth in demand for these cranes.

The Middle East & Africa hydraulic marine cranes market is segmented on the bases of design, capacity, boom length, and country. Based on design, the Middle East & Africa hydraulic marine cranes market is segmented into knuckle boom, telescopic boom, stiff boom, and foldable boom. The foldable boom segment held the largest share in 2020. Based on capacity, the Middle East & Africa hydraulic marine cranes market is segmented into below 50 Tm, 50–150 Tm, and above 150 Tm. The 50 - 150 Tm segment held the largest market share in 2020. Based on boom length, the Middle East & Africa hydraulic marine cranes market is segmented into below 10 meters, 10-20 meters, and above 20 meters. The below 10 meters segment held the largest share in 2020. Similarly, based on country, the market is segmented into Saudi Arabia, UAE, South Africa, and rest of MEA. The UAE contributed a substantial share in 2020. 

Amco Veba Marine; Fassi Gru S.p.A; HEILA Cranes S.p.a.; HIAB; HYVA; INDUSTRIAS GUERRA, SA; Kenz Figee; MELCAL S.p.A.; Palfinger AG; and Puma Cranes are among the leading companies in the Middle East & Africa Hydraulic Marine Cranes Market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Hiab announced it has renewed contract agreement with Thor Middle East which was recently acquired by Al Shirawi Equipment Co. Under the renewed agreement Thor Middle East will continue its operation as a regional distributor of Hiab.

Middle East & Africa Hydraulic Marine Cranes Market, By Country, 2020 and 2028 (%) 

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