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Rough Terrain Crane Market Foraying into Emerging Economies 2018 to 2027 | Key Players are Tadano Ltd., Sany Heavy Industry Co. Ltd., TIL Limited, etc.
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Tier 1 players in the rough terrain crane marketplace occupy 44%-53% share of the rough terrain (RT) crane market. Considering the nature of the equipment, the hegemony of prominent players in rough terrain crane market is likely to prevail. Further, the intensive cost and heavy capital investments in the equipment landscape make entry of new players difficult in the rough terrain cranes market. Tier 2 players hold 25%-35% share of the rough terrain crane market and are trying to increase market shares by increasing production capacity and strengthening dealership network. Between renting and owning, end-users of rough terrain cranes show a greater propensity for rental services owing to the cost-intensive nature of the product. Further, construction activities majorly require temporary equipment solutions wherein rough terrain cranes are utilized for loading and unloading of different load capacities. Consistent entry of new competitors, increasing the cost of new rough terrain cranes and operating costs continue to challenge rental service providers to optimize rental rates in the rough terrain crane market.
Well aware of the steady demand for cranes and opportunities in the rental services landscape, rental stakeholders are improving their services by adopting new ways such as the introduction of new and efficient fleet and replacing or upgrading some of the older equipment. For instance, Maxim Crane Works L.P., the largest crane rental company in North America introduced three new Liebherr all-terrain cranes including two LTM 1500-8.1 and one LTM 1450-8.1 in September 2018.
Rough terrain cranes find significant application in non-residential infrastructure, energy sector and government projects. Oil & gas industry is the prominent end-user of the rough terrain cranes wherein construction industry also presents substantial demand. For instance, on the construction site of the international research project of ITER, Terex RT 90 rough terrain crane has been playing a significant role from past two and a half years for the generation of electricity from fusion energy with no downtime.
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In addition to more instances as these, suitable government advocacy, expansion of capacities in the utilities sector, upcoming metro projects and emphasis on the development of road infrastructure are set to sustain the sales of rough terrain cranes including both rental and new equipment sales. The rough terrain crane market is also witnessing a spurt in demand from the reclaimed land area with in-pipeline construction projects. Boom length and overall tip length of rough terrain cranes determine the operational capabilities of the equipment in terms of lifting performance and carrying operations. Manufacturers in the rough terrain crane marketplace have introduced multiple boom length options and tip length in a bid to meet growing demand from end-user industries.
Like any other heavy duty equipment, rough terrain crane landscape continues to witness product development and innovation to align with the emerging requirements of end users. For instance, Manitowoc has introduced rough terrain cranes with a boom length of 80 meters and a maximum tip height of 120 meters. Manitowoc rough terrain cranes have seven-section full power boom and suspension system with independent hydro-pneumatic suspension and hydraulic lockout. TIL has also launched longer booms in its rough terrain cranes to deliver maximum reach and optimum lifting abilities. In September 2018, Tadano launched rough terrain crane specific for Oceania market with a maximum boom length of 18.5 meters.
In the section of the competitive landscape, the rough terrain crane market report provides a dashboard view of all rough terrain crane market players. In the company profile section, readers can find product offerings, services provided, market presence and notable developments of key players operating in rough terrain crane marketplace. Few of the profiled players in the rough terrain crane market include Terex Corporation, Link-Belt Construction Equipment Company, L.P., Kato Works Co. Ltd., Sany Heavy Industry Co., Ltd., Tadano Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd, The Manitowoc Company, Inc., XCMG Construction Machinery Co., Ltd and TIL Limited (India).
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