Middle East and Africa Electric Overhead Training (EOT) Cranes Market Report (2021-2031) by Scope, Segmentation, Dynamics, and Competitive Analysis
No. of Pages: 167 | Report Code: BMIRE00031810 | Category: Manufacturing and Construction
No. of Pages: 167 | Report Code: BMIRE00031810 | Category: Manufacturing and Construction
The Middle East and Africa Electric Overhead Training (EOT) Cranes Market size is expected to reach US$ 312.73 million by 2031 from US$ 208.73 million in 2023. The market is estimated to record a CAGR of 5.2% from 2023 to 2031.
The growing development of the construction industry and increasing government investments toward infrastructure development are key factors propelling the demand for electric overhead traveling cranes in the Middle East and Africa. In addition, the expanding focus on infrastructure development and ongoing privatization in the construction sector positively impacts the electric overhead traveling cranes market in the region.
The Middle East and Africa is witnessing substantial infrastructure developments fueled by economic growth. Major airports such as Dubai International, Hamad International, and King Fahd International are leading the region's modernization efforts, incorporating extensive expansion projects. For example, Jeddah Airport Company is aimed at expanding King Abdulaziz International Airport with an investment of US$ 31 billion. The airport is expected to handle 114 million passengers per year, and construction is expected to be completed by 2031. Beyond major hubs, regional airports in countries such as Ethiopia and Morocco help improve connectivity and economic development. The ongoing expansion project at Cape Town International Airport comprises a new runway, new international and domestic departure lounges, a terminal, and other facilities, which is expected to be completed by the end of 2024. The UAE's allegiance to luxury travel contributes to sustained infrastructure growth in the coming years. Further, continued investments in infrastructure are strengthening the country's status as a premier destination worldwide.
Kuwait's development plan (2020–2025) aimed at economic reform and infrastructure development in the UAE with an estimated investment of US$ 124 billion, including US$ 4 billion for the building and construction of a new airport terminal. In Africa, several countries, such as Nigeria and Kenya, are focusing on upgrading existing hotels, business centers, commercial hubs, shopping malls, and airports and constructing new ones to accommodate the growing demand for consumers. Economic development, a rise in tourism, and efforts to improve regional events are driving investments in the construction sector. Thus, a rise in investment and government initiatives toward the development of construction and infrastructure is anticipated to fuel the growth of the electric overhead traveling cranes market in the Middle East and Africa in the coming years.
Key segments that contributed to the derivation of the electric overhead training (EOT) cranes market analysis are type, bridge crane, and application.
Companies in the electric overhead traveling cranes market are highly focused on the development of cranes integrated with intelligent, networked systems along with the Internet of Things (IoT). Actuators, sensors, and data transfer capabilities of these smart cranes allow for real-time monitoring, predictive maintenance, and operational optimization. Through gathering and assessing information on crane performances, load weights, and environmental parameters, intelligent EOT cranes are expected to optimize the usage of energy and decrease the risk of equipment breakdowns, along with enhancing overall effectiveness. IoT technology incorporation increases safety, makes proactive maintenance feasible, and extends insightful data for process advancements. A radio remote control is used to manage the operations of the EOT cranes wirelessly. It has two units—a transmitter and a receiver—to facilitate communications. The working principle involves the generation of artificial radio waves by the crane's remote control and its transmission to the receiver end. By tapping the transmitter devices for long travel, cross travel, and hoist, end users can move the electric overhead cranes in different directions as per requirement. Thus, advanced electric overhead traveling cranes integrated with IoT are expected to emerge as key market trends over the forecast period.
Based on country, the Middle East and Africa electric overhead training (EOT) cranes market comprises South Africa, Saudi Arabia, the UAE, and the Rest of Middle East and Africa. Saudi Arabia held the largest share in 2023.
Disturbances in Ukraine-Russia and the restriction on oil and gas imports from Russia, various countries have shifted to importing oil and gas from Saudi Arabia. Moreover, the natural gas consumption of the country was 11.042 cubic ft/day billion in December 2023, which was reported at 11.600 cubic ft/day billion and 11.100 cubic ft/day billion in December 2022 and 2021, respectively. The steady usage of natural gas in electricity generation and other end-use industries such as manufacturing, construction, and industrial sectors fuels the development of the oil and gas sector.
In 2024, The King Abdullah University of Science and Technology accomplished its innovative mobile plant project for wastewater treatment in Saudi Arabia. In 2023, the government of Saudi Arabia announced several water projects for transmission, desalinization, strategic reservoirs, and wastewater treatment and an investment of US$ 14.58 billion in ongoing and planned projects. The rising focus on developing modern utilities and infrastructure facilities of smart cities is fueling the electric overhead traveling cranes market growth in Saudi Arabia.
| Report Attribute | Details |
|---|---|
| Market size in 2023 | US$ 208.73 Million |
| Market Size by 2031 | US$ 312.73 Million |
| Global CAGR (2023 - 2031) | 5.2% |
| Historical Data | 2021-2022 |
| Forecast period | 2024-2031 |
| Segments Covered |
By Type
|
| Regions and Countries Covered | Middle East and Africa
|
| Market leaders and key company profiles |
Some of the key players operating in the market include Dafang Heavy Machine Co., Ltd.; Sumitomo Corp; Spanco, Inc.; ABUS Kransysteme GmbH; Columbus McKinnon Corporation; Konecranes Plc; WHCRANE; VERLINDE SA; Gorbel Inc; American Equipment; Safex Industries Limited; Uesco Cranes; Harrington Hoists, Inc.; K2 Cranes & Components Pvt. Ltd.; and TAWI AB., among others. These players are adopting various strategies such as expansion, product innovation, and mergers and acquisitions to provide innovative products to their consumers and increase their market share.
The following methodology has been followed for the collection and analysis of data presented in this report:
The research process begins with comprehensive secondary research, utilizing both internal and external sources to gather qualitative and quantitative data for each market. Commonly referenced secondary research sources include, but are not limited to:
Note: All financial data included in the Company Profiles section has been standardized to USD. For companies reporting in other currencies, figures have been converted to USD using the relevant exchange rates for the corresponding year.
Business Market Insights’ conducts a significant number of primary interviews each year with industry stakeholders and experts to validate its data analysis, and gain valuable insights. These research interviews are designed to:
Primary research is conducted via email interactions and telephone interviews, encompassing various markets, categories, segments, and sub-segments across different regions. Participants typically include:
The Middle East and Africa Electric Overhead Training (EOT) Cranes Market is valued at US$ 208.73 Million in 2023, it is projected to reach US$ 312.73 Million by 2031.
As per our report Middle East and Africa Electric Overhead Training (EOT) Cranes Market, the market size is valued at US$ 208.73 Million in 2023, projecting it to reach US$ 312.73 Million by 2031. This translates to a CAGR of approximately 5.2% during the forecast period.
The Middle East and Africa Electric Overhead Training (EOT) Cranes Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Middle East and Africa Electric Overhead Training (EOT) Cranes Market report:
The Middle East and Africa Electric Overhead Training (EOT) Cranes Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Middle East and Africa Electric Overhead Training (EOT) Cranes Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Middle East and Africa Electric Overhead Training (EOT) Cranes Market value chain can benefit from the information contained in a comprehensive market report.
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