Saudi Arabia Crane Market to Emerge at a Steady Rate during the Forecast Period.
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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