MENA's Tower Cranes and Portal Jib Cranes Market to Reach 6.5K Units and $758M by 2035 - News and Statistics - IndexBox

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IndexBox has just published a new report: MENA - Tower Cranes and Portal or Pedestal Jib Cranes - Market Analysis, Forecast, Size, Trends And Insights.

Driven by increasing demand, the tower cranes and portal or pedestal jib cranes market in MENA is anticipated to show a slight growth in performance over the period from 2024 to 2035. The market volume is expected to reach 6.5K units, while the market value is projected to reach $758M by the end of 2035.

Driven by rising demand for tower cranes and portal or pedestal jib cranes in MENA, the market is expected to start an upward consumption trend over the next decade. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +1.7% for the period from 2024 to 2035, which is projected to bring the market volume to 6.5K units by the end of 2035.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2024 to 2035, which is projected to bring the market value to $758M (in nominal wholesale prices) by the end of 2035.

In 2024, after two years of growth, there was significant decline in consumption of tower cranes and portal or pedestal jib cranes, when its volume decreased by -12% to 5.4K units. Over the period under review, consumption continues to indicate a perceptible shrinkage. As a result, consumption reached the peak volume of 800K units. From 2021 to 2024, the growth of the consumption of remained at a lower figure.

The value of the market for tower cranes and portal or pedestal jib cranes in MENA shrank to $560M in 2024, reducing by -13.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption showed a noticeable setback. As a result, consumption attained the peak level of $43.2B. From 2021 to 2024, the growth of the market failed to regain momentum.

The countries with the highest volumes of consumption in 2024 were Turkey (1.7K units), Saudi Arabia (1.5K units) and the United Arab Emirates (636 units), with a combined 70% share of total consumption. Israel, Oman, Bahrain and Qatar lagged somewhat behind, together accounting for a further 21%.

From 2013 to 2024, the most notable rate of growth in terms of cranes, amongst the main consuming countries, was attained by Israel (with a CAGR of +12.4%), while cranes for the other leaders experienced more modest paces of growth.

In value terms, the largest tower cranes and portal or pedestal jib cranes markets in MENA were Saudi Arabia ($210M), Turkey ($153M) and Israel ($68M), together accounting for 77% of the total market.

Israel, with a CAGR of +10.9%, recorded the highest growth rate of market size among the main consuming countries over the period under review, while cranes for the other leaders experienced more modest paces of growth.

The countries with the highest levels of tower cranes and portal or pedestal jib cranes per capita consumption in 2024 were Bahrain (109 units per million persons), the United Arab Emirates (62 units per million persons) and Qatar (57 units per million persons).

From 2013 to 2024, the biggest increases were recorded for Israel (with a CAGR of +10.4%), while cranes for the other leaders experienced more modest paces of growth.

Production of tower cranes and portal or pedestal jib cranes rose slightly to 2.5K units in 2024, increasing by 2.9% on 2023. Over the period under review, production continues to indicate a slight expansion. The pace of growth appeared the most rapid in 2020 with an increase of 98,106%. As a result, production reached the peak volume of 2M units. From 2021 to 2024, production of growth remained at a lower figure.

In value terms, production of tower cranes and portal or pedestal jib cranes fell to $196M in 2024 estimated in export price. Overall, production saw a modest increase. The most prominent rate of growth was recorded in 2020 with an increase of 93,562%. As a result, production reached the peak level of $136.1B. From 2021 to 2024, production of growth remained at a somewhat lower figure.

Turkey (1.2K units) constituted the country with the largest volume of production of tower cranes and portal or pedestal jib cranes, accounting for 47% of total volume. Moreover, production of tower cranes and portal or pedestal jib cranes in Turkey exceeded the figures recorded by the second-largest producer, Israel (558 units), twofold. Kuwait (264 units) ranked third in terms of total production with a 10% share.

In Turkey, production of tower cranes and portal or pedestal jib cranes plunged by an average annual rate of -2.0% over the period from 2013-2024. The remaining producing countries recorded the following average annual rates of production growth: Israel (-13.4% per year) and Kuwait (+2.7% per year).

In 2024, after two years of growth, there was significant decline in supplies from abroad of tower cranes and portal or pedestal jib cranes, when their volume decreased by -7.9% to 4K units. In general, imports saw a deep slump. The pace of growth appeared the most rapid in 2018 with an increase of 1,630%. As a result, imports attained the peak of 148K units. From 2019 to 2024, the growth of imports of remained at a lower figure.

In value terms, imports of tower cranes and portal or pedestal jib cranes dropped notably to $403M in 2024. Overall, imports showed a pronounced decrease. The pace of growth appeared the most rapid in 2023 with an increase of 65% against the previous year. Over the period under review, imports of hit record highs at $638M in 2015; however, from 2016 to 2024, imports remained at a lower figure.

In 2024, Saudi Arabia (1.5K units) was the major importer of tower cranes and portal or pedestal jib cranes, constituting 39% of total imports. The United Arab Emirates (765 units) took the second position in the ranking, followed by Turkey (560 units) and Israel (402 units). All these countries together took near 44% share of total imports. The following importers - Qatar (175 units), Morocco (89 units) and Egypt (82 units) - together made up 8.7% of total imports.

From 2013 to 2024, average annual rates of growth with regard to tower cranes and portal or pedestal jib cranes imports into Saudi Arabia stood at +2.3%. At the same time, Israel (+9.2%) and the United Arab Emirates (+2.2%) displayed positive paces of growth. Moreover, Israel emerged as the fastest-growing importer imported in MENA, with a CAGR of +9.2% from 2013-2024. By contrast, Turkey (-1.8%), Morocco (-3.0%), Egypt (-20.1%) and Qatar (-20.4%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Saudi Arabia, the United Arab Emirates, Israel and Turkey increased by +24, +12, +8.2 and +5.6 percentage points, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, Saudi Arabia ($166M) constitutes the largest market for imported tower cranes and portal or pedestal jib cranes in MENA, comprising 41% of total imports. The second position in the ranking was held by Turkey ($71M), with an 18% share of total imports. It was followed by the United Arab Emirates, with a 16% share.

From 2013 to 2024, the average annual rate of growth in terms of value in Saudi Arabia amounted to +2.6%. In the other countries, the average annual rates were as follows: Turkey (+1.0% per year) and the United Arab Emirates (+1.5% per year).

The import price in MENA stood at $102 thousand per unit in 2024, falling by -8.9% against the previous year. Over the period under review, the import price, however, continues to indicate tangible growth. The pace of growth appeared the most rapid in 2019 when the import price increased by 2,828% against the previous year. The level of import peaked at $138 thousand per unit in 2022; however, from 2023 to 2024, import prices stood at a somewhat lower figure.

Average prices varied somewhat amongst the major importing countries. In 2024, major importing countries recorded the following prices: in Turkey ($127 thousand per unit) and Egypt ($122 thousand per unit), while the United Arab Emirates ($85 thousand per unit) and Qatar ($102 thousand per unit) were amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Qatar (+24.9%), while the other leaders experienced more modest paces of growth.

Exports of tower cranes and portal or pedestal jib cranes soared to 1.1K units in 2024, with an increase of 74% compared with the previous year's figure. Over the period under review, exports recorded a perceptible expansion. The most prominent rate of growth was recorded in 2020 with an increase of 81,784%. As a result, the exports attained the peak of 1.3M units. From 2021 to 2024, the growth of the exports of remained at a lower figure.

In value terms, exports of tower cranes and portal or pedestal jib cranes contracted remarkably to $48M in 2024. In general, exports, however, showed a perceptible shrinkage. The pace of growth was the most pronounced in 2018 with an increase of 104% against the previous year. Over the period under review, the exports of hit record highs at $75M in 2022; however, from 2023 to 2024, the exports failed to regain momentum.

In 2024, Israel (418 units) was the largest exporter of tower cranes and portal or pedestal jib cranes, achieving 38% of total exports. It was distantly followed by Kuwait (199 units), the United Arab Emirates (129 units), Turkey (94 units) and Bahrain (72 units), together creating a 45% share of total exports. Saudi Arabia (49 units), Oman (48 units) and Egypt (24 units) followed a long way behind the leaders.

Israel was also the fastest-growing in terms of the tower cranes and portal or pedestal jib cranes exports, with a CAGR of +56.6% from 2013 to 2024. At the same time, Egypt (+25.3%), Bahrain (+8.3%) and Kuwait (+6.2%) displayed positive paces of growth. Turkey and Oman experienced a relatively flat trend pattern. By contrast, the United Arab Emirates (-8.6%) and Saudi Arabia (-10.0%) illustrated a downward trend over the same period. From 2013 to 2024, the share of Israel, Kuwait, Oman, Bahrain and Egypt increased by +38, +5.6, +4.4, +2.9 and +1.9 percentage points, respectively.

In value terms, the largest tower cranes and portal or pedestal jib cranes supplying countries in MENA were the United Arab Emirates ($12M), Turkey ($9.8M) and Kuwait ($9.2M), with a combined 66% share of total exports. Oman, Saudi Arabia, Bahrain, Egypt and Israel lagged somewhat behind, together comprising a further 25%.

Egypt, with a CAGR of +64.5%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other leaders experienced more modest paces of growth.

In 2024, the export price in MENA amounted to $43 thousand per unit, dropping by -53.8% against the previous year. Over the period under review, the export price continues to indicate a abrupt curtailment. The growth pace was the most rapid in 2021 when the export price increased by 198,784%. Over the period under review, the export prices hit record highs at $103 thousand per unit in 2015; however, from 2016 to 2024, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2024, amid the top suppliers, the country with the highest price was Turkey ($104 thousand per unit), while Israel ($1.2 thousand per unit) was amongst the lowest.

From 2013 to 2024, the most notable rate of growth in terms of prices was attained by Egypt (+31.2%), while the other leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

This report provides an in-depth analysis of the market for tower cranes and portal or pedestal jib cranes in MENA. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.

This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.

In this report, you can find information that helps you to make informed decisions on the following issues:

While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.

Making Data-Driven Decisions to Grow Your Business

A Quick Overview of Market Performance

Understanding the Current State of The Market and its Prospects

Finding New Products to Diversify Your Business

Choosing the Best Countries to Establish Your Sustainable Supply Chain

Choosing the Best Countries to Boost Your Export

The Latest Trends and Insights into The Industry

The Largest Import Supplying Countries

The Largest Destinations for Exports

The Largest Producers on The Market and Their Profiles

The Largest Markets And Their Profiles