According to a new report from Global Market Insights, Inc., the global crane market size is projected to reach $ 28 billion by 2025 and will grow at an annual rate of 6% over the forecast period.
The crane market will achieve significant sales growth due to increasing investments in the construction sector. Over the years the world has seen a steady increase in new private and public infrastructure construction activity. Factors such as the rapid growth of the urban sector coupled with the increasing shift towards urban lifestyles are fueling the start of large-scale construction, which in turn is driving demand for cranes.
Increasing developments in commercial and residential infrastructures, as well as the increasing development of complex structural designs, could play an important role in strengthening the industrial landscape. In addition, the notable features of cranes such as improved efficiency, high payload capacity, and productivity could increase the adoption rate among construction companies and other application industries.
The increasing adoption of federal regulations regarding the safety of sites and workers could further support product demand. The crane market is set to exceed $ 28 billion by 2025, according to a new study.
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However, the unavailability of trained and qualified operators in different regions could hamper the development of the crane industry. These machines require well trained operators who can use these machines on project sites in uneven and complex terrain. If such operations are performed by untrained recruits, these cranes can lead to potential property damage or death in the workplace.
To solve these problems, suppliers and manufacturers of rental cranes offer numerous sales and maintenance units for certified and advanced operators. The health and safety authority (OSHA) has also introduced new mandates for the certification of crane operators.
Tower crane machines are considered to be the most widely used crane models among all fixed cranes due to their remarkable application in the construction of high-rise buildings. Regions like Europe and Asia are seeing an increasing number of large-scale construction activities these days, including the construction of multi-story and elevated commercial and residential buildings. The increasing prevalence of such activities could improve the acceptance rate of high tower cranes.
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Tower cranes are typically used to transfer and lift heavy materials while building complex structures and tall towers. These machines can minimize the labor required to transfer heavy building materials and further reduce the total labor cost.
As a result, several crane manufacturers are working on the development of new tower crane models with functions for lifting heavy loads. For example, in April 2019 Comansa announced its plan to launch new and larger tower cranes that could withstand a maximum lifting capacity of 66 tons.
In addition to Comansa, the crane market is led by companies such as Komatsu Ltd., Liebherr Group, Tadano Ltd., Sany Group, Manitowoc, XCMG Ltd., Effer S.pA., Kobelco Construction Machinery and Terex Corporation. These companies are pursuing new business strategies to expand their regional presence. Manufacturers are constantly looking for new partnerships and contracts with dealers to improve their market presence.
Table of contents for this research report: https://www.gminsights.com/toc/detail/crane-market
Chapter 1. Methodology and scope
1.1. Definitions & forecast parameters
1.1.2. Methodology and forecast parameters
1.2. Data sources
Chapter 2. Summary
2.1. Crane industry 360 ° synopsis, 2014 – 2025
2.1.1. Business trends
2.1.2. Regional trends
2.1.3. Product trends
184.108.40.206. Mobile crane trends
220.127.116.11. Fixed crane trends
2.1.4. Application trends
18.104.22.168. Utility trends
Chapter 3. Insights into the crane industry
3.1. Industry segmentation
3.2. Industrial landscape, 2014-2025
3.2.1. Rental landscape
22.214.171.124. Advantages and disadvantages compared to buying cranes
126.96.36.199. Cost calculator – rent against purchase cranes
3.3. Analysis of the industrial ecosystem
3.3.3. service provider
3.3.4. Sales channel analysis
3.3.5. End use landscape
3.3.6. Supplier matrix
3.4. Technology and innovation landscape
3.5. Regulatory landscape
188.8.131.52. ISO 4310
184.108.40.206. ISO 8686
220.127.116.11. ISO 10245-1: 2008
18.104.22.168. ISO 12480-1
22.214.171.124. ISO 23815-1
126.96.36.199. ISO 12482
188.8.131.52. ISO 23814
184.108.40.206. OSHA 29 CFR 1926.21
3.6. Influences of industry
3.6.1. Growth accelerator
220.127.116.11. Worldwide increase in construction spending
18.104.22.168. Increasing demand for telematics cranes in the USA
22.214.171.124. Rapid urbanization in the US
126.96.36.199. Growing demand for cranes in the utility sector in Europe and Asia Pacific
188.8.131.52. Rapid infrastructure development in BRIC countries
184.108.40.206. Growing urbanization and security concerns in India
220.127.116.11. Growth in the transport and logistics industry in MEA
3.6.2. Pitfalls and challenges in the industry
18.104.22.168. High acquisition costs
22.214.171.124. Lack of qualified and qualified crane operators
3.7. Growth potential analysis
3.8. Porter’s analysis
3.8.1. Supplier performance
3.8.2. Purchasing power
3.8.3. Newcomer threat
3.8.4. Threat from substitutes
3.8.5. Internal rivalry
3.9. Competitive landscape, 2018
3.9.1. Company’s market share analysis by application
126.96.36.199. Transport / shipping
3.9.2. Strategy dashboard (new product development, M&A, R&D, investment landscape)
3.10. PESTEL analysis
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Modular and Prefabricated Construction Market: https://www.marketwatch.com/press-release/modular-prefabricated-construction-market-size-growth-analysis-report-by-2026-2020-11-20
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Global Market Insights, Inc., headquartered in Delaware, USA, is a global market research and consulting service provider. Offering syndicated and custom research reports and growth advice. Our business intelligence and industry research reports provide clients with deep insights and actionable market data specifically designed and presented for strategic decision-making. These comprehensive reports are based on a proprietary research methodology and are available for key industries such as chemistry, advanced materials, technology, renewable energy and biotechnology.
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