MEA ROUGH TERRAIN CRANES MARKET ANALYSIS

Market Challenges And Opportunities

MEA rough terrain cranes Market- Drivers

Increasing demand from emerging infrastructure and energy sectors is expected to drive growth of the MEA rough terrain cranes market during the forecast period. Rough terrain cranes are typically used on rough terrains and off-road activities. Since at an actual construction site, there are no roads and transportation routes, these cranes prove to be extremely useful in picking and carrying operations. Furthermore, the use of these rough terrain cranes is very beneficial and economical in such operational conditions. The construction industry and the oil & gas sector is in great demand in the MEA region. The growth of the construction, mining, and oil & gas industry will lead to increased demand for rough terrain cranes that are needed to pick and drop huge and heavy objects.

Growing demand for rental rough terrain crane is expected to propel the MEA rough terrain cranes market growth over the forecast period. The adoption of rental equipment has increased as compared to new units, owing to a relatively high cost of rough terrain cranes. Moreover, the demand for rental equipment is expected to increase in several countries with significant investment in expanding and establishing transport, electrical, and residential infrastructure. According to Coherent Market Insights’ analysis, revenue sales growth during the second half of the forecast period is expected to be significant, owing to a number of projects which are expected to commence post-2018.

Market Opportunities

Expanding urban population and growing industrialization can present lucrative growth opportunities. Rough Terrain Cranes find wide applications in the construction industry and are used to make tasks such as lifting, loading, and transportation more productive. Growing construction industry output is expected to be one of the most significant drivers for the MEA rough terrain cranes market. Rising urbanization, leading to new construction activities, is further expected to boost the demand for rough-terrain cranes in building and construction tasks. According to the United Nations DESA, as of 2014, 54% of the world population lives in urban areas. This share is projected to expand to 66% by 2050.

Incorporation of advanced telematics can provide major business opportunities. Major consumers across the market are increasingly demanding advanced rough train cranes with advanced diagnosis and automation. With research and development activities, major manufacturers are incorporating advanced telematics systems, which has improved their response time for custom requirements from clients. The introduction of new advanced components in the operator’s cabin has made the life of operators comparatively easy, allowing them to work in all kinds of adverse weather conditions.

Market Dynamics- Restraints

Significant initial investment is expected to hamper the MEA rough terrain cranes market growth over the forecast period. Major restraining factor for the market is high capital investment, which is dissuading end user to procure rough terrain cranes. Many company owners believe that if they use of equipment is not at least two-third of its average life, one should seriously consider renting the cranes as it is far more economical than purchasing it. Furthermore, the maintenance operations are required to be done on timely basis otherwise it can lead to critical failure. Thus, these factors expected to hamper the market growth in the near future.

Lack of skilled personnel to operate the equipment is expected to hinder the MEA rough train cranes market growth during the forecast period. Operating rough terrain cranes require skilled personnel with numerous years of experience. Since these devices are challenging to operate and somewhat risky and thus, adoption of these cranes has reduced.