In the crane market, tower machines are widely used because of their applications in the construction of high rise buildings around the world. The construction of raised and multi-story residential and commercial buildings in the developing countries of Asia and Europe supports the high demand for tower cranes. These machines are used to lift and transfer heavy materials in the construction of tall buildings and complex structures.

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The crane market is projected to exceed $ 28 billion by 2025.

Various government regulations for the safety of workers and construction sites are driving product demand in the crane market worldwide.

The European crane market is expected to develop rapidly due to the increasing construction and demolition activities in European countries. The growing popularity of urban infrastructures, smart buildings and smart cities across the European Union is increasing the demand for machines. These machines are used at complex construction, mining and industrial sites to lift heavy loads, machine parts and bulky materials across the sites. In addition, high labor costs in Europe and the unavailability of construction site workers require highly efficient construction workers, which continues to drive the growth of the crane market.

Soaring construction spending and the emergence of new public and private infrastructures around the world are rapidly driving the growth of the crane market. A sharp increase in urbanization activities and the relocation of the rural population to urban areas are increasing the demand for these machines.

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The industry players are involved in the introduction of new products and the integration of innovative safety and payload functions. In addition, the companies are strengthening their regional presence through contracts and partnerships with new dealers in order to gain a competitive advantage and increase machine sales.

Recent developments in residential and commercial infrastructure, as well as the construction of complex building structures around the world, are fueling the expansion of the industry. In addition, the productivity, efficiency and high payload features included in the newly developed models are driving high demand from contractors, construction companies and the application industries.

The crane market is hampered by the unavailability of qualified and trained operators in several regions. These machines require well trained personnel to operate on complex and uneven workplaces. Crane operations by untrained human labor can result in workplace death and property damage. To solve these problems, manufacturers and rental companies offer advanced and certified training for operators through sales and maintenance facilities. In addition, a new mandate from the OSHA in relation to the certification of crane operators supports increased training courses.

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The most important players in the global crane market are the Liebherr Group, Komatsu Ltd., Sany Group, Tadano Ltd., XCMG Ltd., Manitowoc, Terex Corporation, Effer S.pA. and Kobelco Construction Machinery.

In addition, these cranes reduce the labor involved in transferring heavy materials and further reduce labor costs. Manufacturers in the crane market are developing new models with functions for lifting heavy loads. In April 2019, Comansa announced the plan to bring a new and larger flat crane with a maximum load capacity of 66 tonnes on the market.

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