Bharat Book Bureau Provides the Trending Industry Research Report on“Saudi Arabia Manlift Market (2021-2027)”under Heavy Industry Market Research Report. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports.
Saudi Arabia Manlift Market report thoroughly covers the market by types, end users and regions. The report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.
Saudi Arabia Manlift Market Synopsis
Saudi Arabia manlift market witnessed a steady growth in the recent years owing to the government initiative such as National Industrial Development and Logistics program was launched in 2019 by Saudi Arabia government under its long-term initiative Saudi Vision 2030 which aims to transform Saudi Arabia into an industrial and logistics powerhouse.
However, manlift market was negatively impacted by the COVID-19 pandemic in 2020 as a result of the complete lockdown bought in force by the Saudi Arabia government to prevent the spread of coronavirus which disrupted the supply chain, manufacturing processes and put a halt to all the developmental activities across all the sectors. However, the phase of decline is expected to be temporary, and market is anticipated to recover in 2021 and return to a healthy growth rate thereafter on account of declining covid-19 cases and resumption of all developmental activities.
According to 6Wresearch, Saudi Arabia Manlift Market size is projected to grow at a CAGR of 4.0% during 2021-2027. After the oil price crises of 2014, the Saudi Arabia started to diversify its economy by reducing its reliance on oil sector and investing heavily in non-oil sectors which resulted in setting up of large-scale commercial establishments, such as economic cities, medical cities, hotels, offices, and data centres across the country under the proposed economic city projects, such as Jazan Economic City and Prince Abdulaziz Bin Mousaed Economic City. This is expected to result in increased construction activities in Saudi Arabia over the coming years, resulting in an increased demand for manlift equipment in the forecast period.
Market by Types Analysis
In terms of types, the segments boom and vertical lift cumulatively have captured 93% of the market revenues in 2020, with boom lift leading the market. The segment boom lifts generated majority of the market revenues owing to its application in construction and oil & gas sector due to its higher operational height and higher weight carrying capacity. Further, various projects such as Saudi Aramco and Saudi Basic Industries Corp (SABIC) joint oil-to-chemicals project in the Red City of Yanbu, involving the construction of a full oil refinery, would further increase the demand for boom lifts in Saudi Arabia in the forthcoming years.
Market by Application Analysis
In Saudi Arabia manlift market, oil & gas and construction applications have led the overall market revenues accounting more than 55% of the market revenues in 2020. Oil & gas application captured key share of the market pie on account of large-scale investment in the sector such as Aramco’s worth $18 billion Berri and Marjan oil field project, $3.5 billion Tanajib gas processing plant and $2.1 billion Hawiyah Unayzah underground gas storage project. Such projects would propel the market for manlift in the country since they are extensively used in oil & gas sector.
Key Attractiveness of the Report
COVID-19 Impact on the Market.
10 Years Market Numbers.
Historical Data Starting from 2017 to 2020.
Base Year: 2020
Forecast Data until 2027.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects.
Key Highlights of the Report
Saudi Arabia Manlift Market Overview
Saudi Arabia Manlift Market Outlook
Saudi Arabia Manlift Market Forecast
Historical Data and Forecast of Saudi Arabia Manlift Market Revenues and Volume, for the Period 2017-2027F
Historical Market Data and Forecast of Saudi Arabia Manlift Market Revenues and Volume, By Types, for the Period 2017-2027F
Historical Market Data and Forecast of Saudi Arabia Manlift Market Revenues, By End Users, for the Period 2017-2027F
Historical Market Data and Forecast of Saudi Arabia Manlift Market Revenues, By Regions, for the Period 2017-2027F
Market Drivers and Restraints
Industry Life Cycle
Porter’s Five Force Analysis
Market Opportunity Assessment
Saudi Arabia Manlift Market Revenue Share, By Companies
Key Strategic Recommendations
Market Scope and Segmentation
The report provides a detailed analysis of the following market segments:
By End Users:
Construction & Infrastructure
Oil & Gas
Others (Aviation, Painting etc.)
Browse our full report with Table of Content : https://www.bharatbook.com/report/1078771/saudi-arabia-manlift-market
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