The global crane market size is estimated at $ XX billion in 2021 and will grow by 2026 with a CAGR of XX% beyond the capacity of a normal human.
In Asia, the CAGR of the crane market in India in 2020 is expected to be around 6% by 2025. The Indian government plans to intensify construction and infrastructure projects in India and to increase the demand for construction machinery. This is one of the main reasons to further advance the Indian crane market in the future.
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CRANES MARKET DYNAMICS
• Several key factors contributing to its growth include an increase in construction and maintenance activities and practices, as well as an increase in investment in the global construction equipment mining sector.
• Imports of cranes are increasing due to increasing construction activity in India. Population growth is one of the thriving factors contributing to the growth of the construction sector. Due to the growing population, the country’s construction sector is expected to grow twice as fast as China’s by 2030.
• Asia dominated the global crane market in 2018. With a market share of more than 50%, China is the largest player in the world market for cranes, followed by India. China was also the largest manufacturer in the crane market. Rising government spending on infrastructure projects and construction in China and India contributed to the overall growth of the crane market.
LATEST DEVELOPMENT IN THE CRANE MARKET
• Manitowoc plans to introduce the 60t GMK3060L1 and 100t GMK4100L2 glove at the GIS, Italy Lifting Show, which will be offered with the Euromot 5 / Tier 4 final engine and a 60m main boom. -August 2021
• Manitowoc launched the GHC110 telescopic crawler crane with the best-in-class glove, 100% peak and carry capability on standard load tables and the best in class lifting capacity. The wireless remote control can be used in many ways with an optional staff basket. -July 2021
• Kalmar offers the next generation Kalmar RTG (Rubbertyred Gantry Crane), which offers five models with a stronger, lighter and simpler modular design and features to provide customers with a productive and environmentally friendly container handling solution. Kalmar has also implemented a new stand-alone 5G network for this technology. Finnish Competence Center – June 2021
• Some of the leading companies in the global crane market are Manitowoc, Tadano, Kobelco, Cargotec, Kone Cranes, Liebherr, Palfinger and XCMG. This large manufacturer has successfully won the demand for reliable cranes from some of the leading companies in the construction, mining and infrastructure industries.
• The company also offers security and connectivity services as well as new products and services to provide operational safety measures in the workplace. You concentrate on highly efficient and effective product development to meet the requirements of various fields of application and industries. It also offers cost efficiency with security policies to secure competitive advantage and global market share.
• Kone cranes
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This press release was published on openPR.