The wide acceptance of cranes in the manufacturing and industrial sectors has supported the development in the crane accessories market in recent years. The increasing use of gantry and monorail cranes in heavy lift handling and in factory applications has also supported the demand for the equipment.
In terms of application spectrum, the crawler crane segment has gained significant momentum due to the ability of these cranes to navigate difficult, inaccessible surfaces and lift heavy loads. Crawler cranes are known to offer improved height capacities along with detachable jib lifts for multiple performance ranges in off-road conditions and confined spaces.
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Mammoet – a Dutch company specializing in technical heavy haulage that facilitates the transport of oversized and heavy items, is reportedly expanding its range of services 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, construction companies 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 OEM and aftermarket system integrators for heavy-duty cranes. The controls include an ergonomically designed touchscreen display solution for improved device performance with less operator fatigue.
Some of the best known crane aftermarket companies include Sany, Zoomilion, Altec, Konecranes, XCMG, Elliott Equipment Company, and Palfinger, among others. These market players have entered into 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 partnership was aimed at helping Elliott customers take advantage of the financial services offered by Beacon.
The recent coronavirus outbreak has had a negative impact on the crane accessories market. With governments around the world imposing strict bans restricting consumers’ freedom of movement to control the spread of the disease, global economic development has seen a significant decline. However, companies are expected to see steady growth starting in 2021 after the effects of COVID-19 wear off.
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In terms of geographic expansion, the European crane accessories market has become a profitable revenue area due to the increase in residential construction 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. The crane rental service providers in Europe focus on maintaining the quality and performance of the equipment on a regular basis.
Similarly, the crane aftermarket in MEA has seen significant growth due to the increased use of cranes to facilitate construction activities in both the hospitality and real estate sectors.
Table of contents (ToC) of the report:
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. 360 ° overview of the crane aftermarket industry, 2016-2026
2.1.1. Business trends
2.1.2. Type 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. Industry landscape, 2016-2026
3.3. Effects of the COVID-19 pandemic
3.3.1. Global outlook
3.3.2. Impact by region
220.127.116.11. North America
18.104.22.168. Asia Pacific
22.214.171.124. Latin America
3.3.3. Industry value chain
126.96.36.199. Research and Development
3.3.4. Competitive landscape
188.8.131.52. Distribution network
184.108.40.206. Business growth
3.4. Industry ecosystem analysis
3.4.1. Raw material supplier
3.4.3. Sales channel analysis
3.4.4. Supplier matrix
3.5. Technology & innovation landscape
3.6. Regulatory landscape
3.6.1. North America
3.6.3. Asia Pacific
3.6.4. Latin America
3.7. Influences in the industry
3.7.1. Growth accelerator
220.127.116.11. Growing residential and commercial construction worldwide
18.104.22.168. Increasing acceptance of cranes and hoists in the application industry
22.214.171.124. Increasing demand for rental crane machines in North America and Asia Pacific
126.96.36.199. The growing presence of established crane and parts manufacturers in Europe & Asia
188.8.131.52. Increasing demand for aftermarket crane product services in MEA and Latin America
184.108.40.206. Transformation of the construction industry worldwide
3.7.2. Pitfalls and challenges in the industry
220.127.116.11. Presence of several local suppliers offering inexpensive products
18.104.22.168. Effects of the COVID-10 pandemic
3.8. Growth potential analysis
3.9. Porter’s analysis
3.10. PESTEL analysis
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