The widespread acceptance of cranes in manufacturing and industry has supported the development in the crane spare parts market in recent years. The increasing use of gantry cranes and monorail cranes in heavy lift and factory applications has also supported demand for the equipment.
In terms of application range, the crawler crane segment has gained significant momentum due to the ability of these cranes to navigate hard, inaccessible surfaces and lift heavy loads. Crawler cranes are known to provide improved height capabilities along with removable lifts for various performance ranges in off-road conditions and in confined spaces.
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Mammoet, a Dutch company specializing in heavy lifting and facilitating the transport of oversized and heavy items, is reportedly expanding its offering to include crawler crane rental in the Mid-Atlantic region with a fleet of more than 40 cranes with a capacity of 100 to 300 US tons. The project aims to expand their solutions to construction companies, bridge builders, contractors and other potential clients.
The crane aftermarket companies have made a point of constantly developing advanced solutions that best suit the changing preferences of their customers and ensure work efficiency. In April 2018, the Swedish company Scanreco introduced the SCAN500 Mini Transmitter remote control, which meets the requirements of the OEM and aftermarket system integrator for high-performance cranes. The controller includes an ergonomically designed touchscreen display solution for improved device performance with less operator fatigue.
Leading crane aftermarket companies include Sany, Zoomilion, Altec, Konecranes, XCMG, Elliott Equipment Company and Palfinger. These market players have forged strategic alliances and mergers to seek investments to grow their businesses in the crane aftermarket industry. In 2019, Elliott Equipment Company reportedly announced its partnership with Beacon Funding, a construction equipment finance company. The goal of the partnership was to help Elliott customers take advantage of the financial services offered by Beacon.
The recent coronavirus outbreak has had a negative impact on the crane replacement parts market. As governments around the world put tough lockdowns restricting consumer movement to control the spread of the disease, global economic development has slowed significantly. However, businesses are expected to see steady growth starting in 2021 after the impact of COVID-19 subsided.
In terms of geographic expansion, the European crane replacement parts market has become a profitable sales area due to the increasing construction of residential buildings in countries such as the Netherlands and Germany. The improved economic conditions in these regions as well as the constant demand for advanced housing solutions had recently increased the demand for cranes. Crane rental companies in Europe focus on maintaining the quality and performance of the equipment on a regular basis.
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Similarly, the crane aftermarket in MEA has seen significant growth due to the increased use of cranes to facilitate construction in both the hospitality and real estate sectors.
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 Aftermarket Industry 360 ° Synopsis, 2016 – 2026
2.1.1. Business trends
2.1.2. Enter trends
2.1.3. Application trends
2.1.4. Regional trends
Chapter 3. Insights into the Crane Aftermarket Industry
3.1. Industry segmentation
3.2. Industrial landscape, 2016-2026
3.3. Effects of the COVID-19 pandemic
3.3.1. Global outlook
3.3.2. Effects by region
22.214.171.124. North America
126.96.36.199. Asia Pacific
188.8.131.52. Latin America
3.3.3. Industry value chain
184.108.40.206. Research and Development
3.3.4. Competitive landscape
220.127.116.11. Distribution network
18.104.22.168. Business growth
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