Report : Middle East & Africa Overhead Cranes Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Type (Gantry Crane, Bridge Crane, Jib Crane, Monorail Crane, and Others), Installation (Mobile Crane and Fixed Crane), Operation Type (Electric, Hydraulic, and Hybrid), and Verticals (Logistics, Automotive, Marine, and Others)
At 5.3% CAGR, the Middle East & Africa Overhead Cranes Market is speculated to be worth US$ 455.36 million by 2028, says Business Market Insights
According to Business Market Insights’ research, the Middle East & Africa overhead cranes market was valued at US$ 333.43 million in 2022 and is expected to reach US$ 455.36 million by 2028, registering an annual growth rate of 5.3% from 2022 to 2028. Technological advancements in overhead crane and growing need for workplace safety in industrial applications are the critical factors attributed to the Middle East & Africa overhead cranes market expansion.
The introduction of innovations and advancements in crane technology is rising in industries. Industries are adopting new overhead cranes that are modular, adaptable, and intelligent. Some manufacturers added smart technologies such as sway control technology to their overhead cranes to predict an error or problem and convey that information to the operator to avoid any major risk. This technology became a standard for industries to improve safety and reduce downtime. To predict a natural pendulum effect, a sway control technology is introduced to predict the start of a swing motion without any intervention by the operator. It helps save delicate and sensitive objects while lifting or moving. Innovation in cranes includes optimized pulley rope angles that help reduce wear on the rope. With smart technology, the operator gets a constant report on the rope's condition, mentioning repair and replacement recommendations. Cranes are designed compactly to work in the compact area and result in high precision of the task. They are designed to be energy efficient. Thus, technological advancements in overhead cranes will act as a trend in the overhead cranes market in the future.
On the contrary, fluctuations in prices of steel hurdles the growth of Middle East & Africa overhead cranes market.
Based on type, the market is segmented into bridge crane, gantry crane, monorail crane, jib crane, and others. The gantry crane segment held 49.9% market share in 2022, amassing US$ 166.47 million. It is projected to garner US$ 240.97million by 2028 to expand at 6.4% CAGR during 2022–2028.
Based on installation, the Middle East & Africa overhead cranes market is bifurcated into mobile crane and fixed crane. The fixed crane segment held 70.8% market share in 2022, amassing US$ 235.94 million. It is projected to garner US$ 328.19 million by 2028 to expand at 5.7% CAGR during 2022–2028.
Based on operation type, the Middle East & Africa overhead cranes market is segmented into hydraulic, electric, and hybrid. The electric segment held 80.6% market share in 2022, amassing US$ 268.67 million. It is projected to garner US$ 370.84 million by 2028 to expand at 5.5% CAGR during 2022–2028.
Based on verticals, the Middle East & Africa overhead cranes market is segmented into automotive, logistics, utilities, marine, and others. The logistics segment held 52.8% market share in 2022, amassing US$ 176.14 million. It is projected to garner US$ 250.74 million by 2028 to expand at 6.1% CAGR during 2022–2028.
Based on country, the Middle East & Africa overhead cranes market is segmented into Saudi Arabia, UAE, South Africa, and the Rest of MEA. Our regional analysis states that Rest if MEA captured 33.7% market share in 2022. It was assessed at US$ 112.26 million in 2022 and is likely to hit US$ 138.32 million by 2028, exhibiting a CAGR of 3.5% during the forecast period.
Key players dominating the Middle East & Africa overhead cranes market are ABUS Kransysteme GmbH, Cargotec Corp, Demag Cranes & Components GmbH, Gorbel Inc, Konecranes Plc, Liebherr-International Deutschland GmbH, and Sumitomo Heavy Industries Ltd, among others.
- In 2022, The Demag DRS range has gained a reputation as a reliable wheel block system – not only in cranes but also in several applications. Demag launched new generation DRS-M wheel block. Among other benefits, the new wheel blocks feature a rugged, modular design and versatile connection possibilities on five sides. Also new is the optional mechanical wear measurement of the wheel.
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