Crane Market Latest Trends & Forecast to 2025 | Terex Corporation, Konecranes, Welbilt Inc, Komatsu Ltd., XCMG Group, Liebherr Group, PALFINGER Group.

The increasing construction spending and the emergence of new public & private infrastructures across the globe are driving the crane market growth at a rapid pace. High rise in urbanization activities and shift of the rural population to urban areas are adding to the demand for these machines.

The Crane Market is projected to expand from its present industry value of over $19 billion to more than $28 billion over the analysis timeframe.

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Top Manufacturers -

Konecranes, Terex Corporation, Liebherr Group, Altec Inc., Broderson Manufacturing Corp, Cargotec Corporation, Columbus Mckinnon Corporation, Effer S.P.A, Elliott Equipment Company, Fassi Gru S.p.A., Fushun Yongmao Construction Machinery Co. Ltd, Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd., Ingersoll Rand, plc, JASO Industrial Cranes, Kato Works Co. Ltd., Kito Corporation, Kobelco Construction Machinery Co. Ltd., Komatsu Ltd.

Split by product type, the market has been divided into

o Mobile Crane [All Terrain Crane, Crawler Crane, Rough Terrain Crane, Truck Loader Crane],

o Fixed Crane [Monorail Crane, Stiffleg Crane, Tower Crane, Gantry Crane]

In the crane market, tower machines are utilized at a high rate due to their applications in building high rise structures across the globe. The construction of heightened and multistory residential & commercial buildings in the developing countries of Asia and Europe is supporting the high tower crane demand. These machines are used to lift & transfer heavy materials in constructing tall buildings and complex structures. Moreover, these cranes reduce the amount of labor required in transferring heavy materials, further reducing labor costs.

Manufacturers in the crane market are developing new models with high load lifting features. For instance, in April 2019, Comansa announced its plan to launch a new and larger flat top tower cranes with a maximum load capacity of 66 tonnes.

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The Europe crane market is expected to develop rapidly due to the rising construction & demolition activities in the European countries. The growing popularity of urban infrastructure, smart buildings, and smart cities across the European Union are adding to the machinery demand. These machines are used at complex construction, mining, and industrial sites for lifting heavy loads, machinery parts, and bulky materials across the sites.

Additionally, high labor cost in Europe and unavailability of site workers create the need for highly-efficient construction workers, further driving crane market growth.

Market Growth Drivers -

1. Global increase in construction spending
2. Rising demand for telematics cranes in the U.S.
3. Rapid urbanization in the U.S.
4. Growing demand for cranes in the utility sector in Europe and Asia Pacific
5. Rapid infrastructure development in BRIC countries
6. Growing urbanization and safety concerns in India
7. Growth in transportation and logistics industry in MEA

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