DUBLIN – (BUSINESS WIRE) – The report “Global Crane Market (By Type, Application, and Region): Insights and Forecasts of Potential Impact from COVID-19 (2021-2025)” has been added ResearchAndMarkets.com offer.

The global crane market is projected to reach $ 41.39 billion in 2025 and reach a CAGR of 5.24% in 2021-2025.

Mentioned companies

  • Cargotec Corporation

  • Konecranes PLC

  • Palfinger AG

  • Terex Corporation

  • The Manitowoc Company, Inc.

  • Zoomlion Heavy Industry Science and Technology Co., Ltd.

Factors such as increasing investments in construction and infrastructure, increasing demand in the metallurgical industry, increasing preference for rental services, boom in the e-commerce sector, rapid expansion of the aerospace industry and increasing urbanization would drive the growth of the market.

However, market growth would be hampered by high investment costs and a lack of skilled workers. Some notable trends may include the rise in mining activities, the rapid growth of the automotive industry, an upswing in maritime activities, and increasing applications in power generation.

The global crane market is categorized by type and application. Depending on the type, the market can be divided into mobile cranes, marine & harbor cranes and fixed cranes. The global crane market can be further divided into construction, industrial use, mining and excavation, oil and gas, and other uses in terms of application.

The fastest growing regional market was the Asia-Pacific region, which is expected to dominate the market in the future due to growing construction activity in emerging markets such as China, India and the Philippines, expansion of the manufacturing sector in the region, modernization and expansion of existing networks and increasing investment in energy transmission and distribution networks (T&D).

In addition, disruptions in the supply chain of raw materials and halted construction and manufacturing activities around the world caused by the COVID-19 pandemic led to a decline in the demand for cranes in various end-use industries, which ultimately had a negative impact on market growth worldwide .

Scope of the report:

  • The report provides a comprehensive analysis of the global Cranes Market segmented by type, application, and region with potential impact from COVID-19.

  • The main regional markets of Asia-Pacific, North America, Europe and Rest of the World (RoW) were analyzed.

  • The market dynamics such as growth drivers, market trends and challenges are analyzed in detail.

Key topics covered:

1. Market overview

2. Effects of COVID-19

2.1 Decline in construction activity

2.2 Reduction in sea trade

2.3 Decline in aircraft deliveries

2.4 Reduced copper production

3. Global market analysis

3.1 Global Crane Market by Value

3.2 Global Cranes Market Forecast by Value

3.3 Global Crane Market by Type

3.4 Global Crane Market by Application

3.5 Global Crane Market by Region

4. Regional market analysis

5. Market dynamics

5.1 Growth drivers

5.1.1 Increase in investments in construction & infrastructure

5.1.2 Increasing demand in the metallurgical industry

5.1.3 Escalating Preference for Rental Services

5.1.4 Boom in the e-commerce sector

5.1.5 Rapid expansion of the aerospace industry

5.1.6 Expansion of urbanization

5.2 Important trends and developments

5.2.1 Increasing mining activities

5.2.2 Rapid growth in the automotive industry

5.2.3 Boom in maritime activities

5.2.4 Accelerating demand from oil refineries

5.2.5 Increasing applications in power generation

5.3 Challenges

5.3.1 High investment costs

5.3.2 Shortage of skilled workers

6. Competitive landscape

6.1 Global market

6.1.1 Sales comparison of the main players

6.1.2 Comparison of the market capitalization of the main players

6.1.3 R&D comparison of the main actors

6.2 Asia-Pacific Market

6.2.1 China crane market share by major players

7. Company profiles

Please visit https://www.researchandmarkets.com/r/r0ku3r for more information on this report