Crane Market 2023 | Cargotec Oyj, Konecranes PLC., Liebherr Group, The Manitowoc Company, Inc., Terex Corporation, Tadano Ltd. Xuzhou Construction Machinery Group Co., Ltd., Manitex International Inc., Sumitomo Heavy Industries Construction Crane Co., Ltd

Crane Market Overview

Crane machines are used for lifting heavy items, and they are always useful in towing activities. Market Research Future (MRFR) has published a research report about the global crane market that foretells advancement with 5.9% CAGR (Compound Annual Growth Rate) for this market between 2016 and 2023. Observing the market structure, this report evaluates the future growth potential of the market and analyzes the strategies of the key players in the market. It also follows the competitive developments such as joint ventures, new product developments, mergers and acquisitions, new product developments (R & D) in the market.

The primary key driver of this market is the global growth of the construction and infrastructure sector. Other important factors driving this market include various technological innovations in crane models that have resulted in lighter and more energy efficient cranes. They also include growing demand from the oil & gas sector for loading and unloading of loads such as containers and drill pipes is fuelling the demand of the market. The global crane market has been segmented on the basis of application, crane types, and region. As per application basis, this market has been segmented into construction & infrastructure, mining, oil & gas, and others. By crane types, the market has been segmented into marine cranes, mobile cranes, and fixed cranes.

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The regional segmentation of the global crane market segments the market into regional markets known as North America, Asia Pacific, Europe, and the rest of the world (RoW). Asia Pacific market holds the lion‘s share in the global crane market. Due to the growing demand from the construction and infrastructure sector, the market is growing in this region. This market is expected to grow at the fastest pace during the forecast period. The most important country-based markets in this region include China, India, and Japan, followed by the rest of the Asia Pacific.

Due to the expansion and upgradation of power grids and distribution networks, Europe is the second largest market. The most significant country-based markets in this region are France, Germany, Spain, and the United Kingdom (UK), followed by the rest of Europe. In North America, due to the high-level industrialization and technological advancement, the most important country-based markets in this region are the United States of America (USA) and Canada. Many key players in this market are based in the USA.

Market Research Analysis

On the basis of regions, global crane market is segmented as North America, Europe, Asia-Pacific, and Rest of the World (RoW). Asia-Pacific dominates global crane market. Growth in construction and infrastructure sector mainly due to increase in population, is driving the demand of the market in Asia-Pacific region. China and India are the major markets in this region. Asia-Pacific region is expected to be the fastest growing market during the forecast period.

Europe and North America are other major markets for Crane. Expansion and upgradation of power grids and distribution networks are driving the demand of the market in these regions.

Study Objectives of Global Crane market

• To provide detailed analysis of the market structure along with forecast for the next five years of the various segments and sub-segments of the global crane market

• To provide insights about factors affecting the market growth

• To analyze the global crane market based on tools such as Supply Chain Analysis, and Porter’s Five Force Analysis

• To provide historical and forecast revenue of the market segments and sub-segments with respect to regions and their respective key countries

• To provide country level analysis of the market with respect to the current market size and future prospective

• To provide country level analysis of the market for segments by crane type, by application and by region

• To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market

• To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the crane market

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Latest Industry News

• In the downtown Fayetteville, a 180-foot tall tower crane has been erected for use with the Prince Charles Hotel construction projects. These projects include renovation of the old hotel into apartments and retail space, as well as building a new hotel, office building, and parking garage. This is all part of about US $65 mn in private investment around the baseball stadium the city has been under construction. This stadium is expected to be home to a minor league team for the Houston Astros. 30 Aug 2018

• Hydraulic loader crane manufacturer Palfinger has launched its first line of cranes that are mounted on a crawler chassis. 28 Aug 2018

Key Players

 Cargotec Oyj (Finland)
 Konecranes PLC (Finland)
 Liebherr Group (Switzerland)
 The Manitowoc Company, Inc. (U.S.)
 Terex Corporation (U.S.)
 Tadano Ltd. (Japan)
 Xuzhou Construction Machinery Group Co., Ltd. (China)
 Manitex International Inc. (U.S.)
 Sumitomo Heavy Industry Construction Cranes Co. Ltd.(Japan)
 Shanghai Zhenhua Heavy Industry Co., Ltd. (China)

Scope of the Report

This study provides an overview of the global cranes market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global crane market by its crane type, application and region.

 By Crane Type

• Mobile Cranes
• Fixed Cranes
• Marine Cranes

 By Application

• Construction & Infrastructure
• Mining
• Oil & Gas
• Others

 By Region

• North America
• Asia Pacific
• Europe
• Rest of the World

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This release was published on openPR.