Tower Crane Market Size, Global Trends, Industry Share, Competitive Analysis and Forecast to 2025

The global tower crane market is expected to grow at a significant CAGR during the forecast period (2019-2025). The tower crane having a vertical metallic structure and a horizontal boom that can turn over 360° angle on-site. A tower crane equipped with ropes and sheaves to lift the weight over 20 tons, and lower and moving the material as per the requirement. The tower crane can move loads beyond the normal capability of human and is used in transportation, construction and mining industries for assembling heavy equipment.

Browse the full report of “Tower Crane Market by Type (Luffing Jib, Flat-Top, Hammerhead, Self-Erecting, and Others), by Design (Bottom Slewing Crane and Top Slewing Crane), and by Application (Commercial, Infrastructural, and Residential) – Global Trends, Size, Share, Growth, Industry Analysis and Forecast, 2019-2025” at https://www.omrglobal.com/industry-reports/tower-crane-market/

Increasing construction activities and development of high-rise commercial and residential structures, technological advancement in construction machines which are used by tower cranes are driving factors for the growth of the market. The usage of the tower crane is rising majorly in urban building operations for lifting heavy weight capacities machines and materials as compared to other conventional options. Increasing global population and rapid urbanization globally will create the need for effective and efficient infrastructure facilities, residences, and buildings.

Additionally, increasing focus of customers and manufacturers on utilizing eco-friendly equipment for reducing pollution level in construction activities globally is supporting the tower crane market. However, the cost of training and acquiring the labor is increasing due to low availability of skilled labor and high price associated with the purchase, installation, and dismantling of machines which is hampering the growth of the tower crane market. Whereas the flat-top tower crane has safety and easy handling, as compared to other models leads to high demand in the market. The flat-top tower crane has applications in airports and power plant. Additionally, top-slewing cranes are triggering the demand due to its suitability for medium to high-rise building projects and long duration needs.

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Moreover, the key players of the global tower crane market include Terex Corp., XCMG Group, Manitowoc Co., Inc., Fangyuan Group Co. Ltd., Norinco Group, Liebherr-International Deutschland GmbH, and Weihai Guheng Building Machinery Co., Ltd. These companies are adopting various strategies in order to stay competitive in the market. For instance, in January 2019, Manitowoc announced to launch six new crane machines & lifting technologies in April 2019 at Bauma 2019. The company will launch several flat top and self-erecting models. Further, in December 2018, Manitowoc announced to launch a new internal mast operator model for top-slewing cranes.

Current Market Trends Covered in the Market Report:
• Asia-Pacific region is dominating the global tower crane market particularly, India and China.
• The companies are focusing on the development of innovative solutions in a competitive market.
• Merger and acquisitions amid key market players; escalating the market growth.
• Top-slewing cranes the demand on tower crane market.

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The Report Global Tower Crane Market Segmentation
By Type
• Luffing Jib
• Flat-Top
• Hammerhead
• Self-Erecting
• Others (Portable Tower Crane)
By Design
• Bottom Slewing Crane
• Top Slewing Crane
By Application
• Commercial
• Infrastructural
• Residential
By Region
• North America
• Europe
• Asia-Pacific
• Rest of the World

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OMR provide global and regional market reports of various domains such as healthcare, energy, IT, chemicals, and automobiles. OMR provides a 360-degree view of the market with parametric analysis, key market insights, key findings, statistical forecasts, competitive landscape, extensive segmentation, key trends, strategic recommendations and detailed company profiles.

Source: https://www.omrglobal.com/press-release/global-tower-crane-market/

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