Tower Crane Market 2019 by Type, Application and Region with Competitive Landscape By Global Leaders- Wolfkkran, Yongmao, XCMG, Shandong Dahan Construction Machinery, Fangyuan, Guangxi Construction, Zoomlion Heavy Industry Science & Technology, Zhejiang C

Global Tower Crane Market Information: by Type (Flat Top, Hammerhead), Application (High Rise Building, Dam Building) and Region – Global Forecast Till 2023

Overview:

The global tower crane market is expecting to touch a valuation of USD 22,232.1 million by the end of the forecast period (2018-2023), Market Research Future (MRFR) in their extensively studied report includes chief drivers and detailed study of segments to deliver reliable prediction about the market future. Rapid urbanization, land banking by governments, government initiatives for infrastructure development, and the expansion of the construction sector are factors expected to drive market demand over the forecast period.

Developed countries in North America and Europe have increased their construction budget significantly. This could portend a good opportunity for the market owing to the demand for high rise projects in urban areas. Emergence of green and energy-efficient buildings are likely to create opportunities for tower cranes.

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Tower crane rental units are gaining traction owing to the stemming of small and mid-scale developers. Renting is a much more attractive for real estate developers owing to zero maintenance, servicing, and storage fees.

However, lack of trained personnel and fluctuating prices of raw materials are factors which can impede the market.

Industry Trend:

The rapid pace of urbanization and industrialization in emerging economies in the Asia Pacific are likely to pave open up new avenues for expansion for the tower crane market. Swelling of manufacturing and service sectors in Indonesia, Thailand, Brazil, India, and China are likely to expedite infrastructural development in these regions. The boom in population, migration of people to cities, and lack of housing structures in urban areas are likely to create growth opportunities for the market in the coming years.

Segmentation:

The global tower crane market can be segmented by type and application.

By type, the market is segmented into self-erecting, flat top, hammerhead, and luffing jib tower cranes. Among these, the self-erecting segment accounted for 33.6% share in 2017. It is predicted to reach a size of USD 7,404.2 million by the end of the forecast period, growing at a 4.24% CAGR. These types of cranes are preferred for the construction of dams, refinery factories, and residential buildings owing to the ease it offers in folding. Furthermore, integration of sensors to assist the crane operator in navigating the equipment is likely to augur the segment growth. Hammerhead towers, on the other head, accounted for 32.0% share in the same year. It can touch USD 7,208.9 million by 2023.

Major market applications include dam building, bridge building, high rise building, shipyards, and power plants. High rise buildings accounted for 32.2% market share in 2017, followed by bridge building with 27.5% share and19.9% share captured by dam buildings respectively. The high rise building segment is touted to accrue USD 7,518.9 million by 2023.

Regional Analysis:

The tower crane market covers the latest trends and opportunities across North America, South America, Europe, Asia Pacific (APAC), and the Middle East & Africa (MEA).

The APAC region accounted for 40.64% market share in 2017 and predicted to touch a size of USD 9,196 million by 2023, growing at a robust 4.58% CAGR over the forecast period. Within APAC, China and Japan collectively accounted for more than 50% of the APAC tower crane market. Both of these countries are foreseen to bring in nearly USD 5,345.1 million by 2023.

The North America tower crane market is expected to experience growth at a 4.18% CAGR during the forecast period. Canada and the U.S. are economies contributing to market growth. Development projects of high rise buildings and bridges are likely to expedite market demand in the forthcoming years.

Competitive Dashboard:

Key players in the tower crane market include Shandong Huaxia Group Co., Ltd (China), XCMG Group (China), Shandong Dahan Construction Machinery Co., Ltd. (China), Yongmao Holdings Limited (Singapore), Manitowoc (U.S.), LIEBHERR (Switzerland), Favelle Favco BHD (Malaysia), HKTC (Korea), Guangxi Construction Engineering Group Ltd. (China), Zhejiang Construction Machinery Group Co., Ltd. (China), Sichuan Construction Machinery (Group) Co. (China), Zoomlion Heavy Industry Science & Technology Co., Ltd. (China), Terex Corporation (U.S.), Wolffkran International AG (Switzerland), and Fangyuan Group Co. Ltd. (China).

Research Methodology

At MRFR, our research analysts conduct a thorough objective analysis of the market while creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top executives of crane manufacturers. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner.

In addition, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.

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List of Tables

Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Annual Value of Construction, Us, 2010–2016 (Usd Million)
Table 4 Global Tower Crane Market, by Application, 2013-2017 (Usd Million)
Table 5 Global Tower Crane Market, by Application, 2018-2023 (Usd Million)
Table 6 Global Tower Crane Market, by Type, 2013-2017 (Usd Million)
Table 7 Global Tower Crane Market, by Type, 2018-2023 (Usd Million)
Table 8 Global Tower Crane Market, by Region, 2013-2017 (Usd Million)
Table 9 Global Tower Crane Market, by Region, 2018-2023 (Usd Million)
Table 10 North America: Tower Crane Market, by Country, 2013-2017 (Usd Million)

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List of Figures

Figure 1 Global Tower Crane Market: Market Structure
Figure 2 Research Process of Mrfr
Figure 3 Top Down & Bottom Up Approach
Figure 4 Dro Analysis of Global Tower Crane Market
Figure 5 Value of Construction in Great Britain, 2010–2015 (Usd Million)
Figure 6 Value Chain Analysis of Global Tower Crane Market
Figure 7 Porter's 5 Forces Analysis of Global Tower Crane Market
Figure 8 Global Tower Crane Market, by Application, 2017 (%)
Figure 9 Global Tower Crane Market, by Type, 2017 (%)
Figure 10 Global Tower Crane Market, by Region, 2017 (%)

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