The automotive and transportation industries are characterized by constant innovation in the integration of various advanced technologies designed to increase the convenience and safety of consumers and goods. Industry participants range from raw material suppliers, automobile manufacturers, dealers and fitters to aftermarket suppliers offering a wide range of products and technologies for LCV vehicles and HCV vehicles
How important is crane?
Crane market: dynamism
The increasing number of construction activities is one of the main drivers for the growth of the crane market
The increasing number of construction activities has led to an increasing demand for cranes worldwide, which in turn is driving the growth of the crane market. According to the Chartered Institute of Building, the construction industry is projected to account for 14.7% of global GDP by 2030. In addition, the global construction market is projected to reach $ 17.5 trillion by 2030, down from $ 8 trillion in 2015. The demand for construction work is increasing due to the significant increase in urbanization. According to the United Nations Organization, 54.5% of the world’s population lives in urban cities in 2016 and is expected to reach around 60% by 2030. This is expected to lead to increased construction activity to provide better facilities, housing and others. Hence, it is expected that this will support the growth of the market. Cranes are valuable devices in the construction industry. Cranes are useful for building high-rise buildings and for reaching inaccessible areas. Tower cranes are the most common type of crane used in the construction of high rise buildings and are attached to the ground during construction. Various advantages such as high loading and lifting capacity and high height capacity have accelerated the demand for tower cranes in the construction industry.
This report focuses on the volume and value of cranes on a global, regional and corporate level. From a global perspective, this report represents the overall market size by analyzing historical data and future prospects.
The key players in the report on the Global Crane Market include: Liebherr Group, Manitowoc, Tadano, Terex, Xuzhou Construction Machinery Group (XCMG), Zoomlion, Sany, KobelcoCrane, Hitachi Sumitomo, Furukaw and Konecrane.
(Our SAMPLE COPY of the report has a brief introduction to the Cranes market, detailed table of contents, key players in the market, list of tables and figures, and key countries and regions.)
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The market can become one of the most booming markets as it has enormous growth potential, which was discussed in the aforementioned forecast period.
The highest CAGR is forecast for the mobile cranes segment in the forecast period
The mobile cranes segment is expected to have the highest CAGR in the forecast period. The rapid growth of the power distribution sector is becoming one of the main drivers for the growth of the mobile crane market. This is due to the use of mobile cranes for maintenance and construction activities in energy distribution. The increasing government initiative in emerging countries to provide electricity to villages plays an important role in the increasing demand for cranes in the electricity distribution sector for construction purposes. According to the Indian Brand Equity Fund, a total of 17,164 villages out of 18,452 non-electrified villages had been electrified by March 2018. This in turn should support the growth of the market in the forecast period.
Market segmentation for cranes:
By crane type:
- Fixed cranes
- Monorail cranes
- Tower cranes
- Gantry cranes
- Marine and harbor cranes
- Mobile cranes
- Truck mounted
- All terrain
- Others (rough terrain and telescope)
- Construction & Infrastructure
- Oil and gas industry
- Others (shipping & transport)
Frequently asked questions (FAQ):
Will the crane market be booming in the near future?
Who are the world’s leading crane players? Can I add a specific company?
Yes you can add Specific company up to 3 Companies.
The companies covered by this study include: Liebherr Group, Manitowoc, Tadano, Terex, Xuzhou Construction Machinery Group (XCMG), Zoomlion, Sany, KobelcoCrane, HitachiSumitomo, Furukaw and Konecrane.
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