Vietnam Crane Market 2021 Comprehensive Insights- Konecranes PLC, Cargotec OYJ, Quang Lien Crane Elevator Co. Ltd, Tadano Ltd

Vietnam Crane Market 2021-2025 is a comprehensive report which provides a detailed overview of the major driver, opportunities, challenges, current market trends and strategies impacting the Global Vietnam Crane market in conjunction with calculation and forecast of size, share, and growth rate analysis. Combining the analysis capabilities and knowledge integration with the relevant findings, the report has foretold the robust future growth of the Vietnam Crane market all told its geographical and merchandise segments.

The Vietnam crane market is expected to register a CAGR of over 5% during the forecasted period (2020 - 2025).

The Global Vietnam Crane market is highly competitive and consists of a number of major players. Companies like Konecranes PLC, Cargotec OYJ, Quang Lien Crane Elevator Co. Ltd, Tadano Ltd, Sumitomo Heavy Industries Construction Cranes Co. Ltd, Vietnam Steel Structures and Lifting Equipment JSC, Kato Works Co. Ltd, Kobelco International (S) Co. Pte. Ltd, Palfinger Marine Vietnam Co. Ltd, Zoomlion Heavy Industry Science and Technology Co. Ltd, Favelle Favco Group, Manitowoc, Liebherr-International AG among others.

Key Developments:

In Sep 2019, Sumitomo Heavy Industries Construction Cranes Co Ltd acquired Invertek, Invertek is a well-known manufacturer of electric motors for heavy vehicles and industrial purposes.

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Market Overview:

There has been an increase in investments for the construction of roads, highways, smart cities, metros, bridges, and expressways due to the growing population and urbanization over the last three years. The Vietnamese construction industry is expected to witness significant growth in the coming years, with great_opportunities in the infrastructure, residential, and non-residential sectors.
- However, an increase in the demand for rental cranes may hinder the growth and demand for new cranes. However, the enactment of stringent emission norms is expected to create demand for new cranes that comply with the new regulations.
- Furthermore, the increase in mining activities in the country is expected to increase the purchases and rentals of cranes

Key Market Trends:

Increasing Demand for Rental and Used Cranes may Hinder the Growth of the Market
Vietnam has emerged as a developing country majorly after becoming a member of WTO in 2007, the country has attracted several foreign direct investments especially from Korea, China, America, France, and Japan.

Construction and industrial activities in the country have increased significantly, thereby, creating a demand for cranes and other construction machinery.
Although the domestic firms in Vietnam have been offering crane rental service for more than a decade, the demand for the rental segment increased only since 2012. The end-users are benefited by the hassle-free operation of the construction and material handling activity. Renting the equipment augments in reducing the initial investment and the operational and maintenance costs.
Apart from crane rental services and leasing of cranes, the availability of used cranes has helped the fleet operators to maintain a wide range of diversified cranes at their disposal without requiring much capital investment, thereby, sufficing the business needs of customers with operational flexibility.

Construction and Infrastructure Segment expected to Dominate the Market

Construction activities in Vietnam have increased over the last three years. The industry's output value - measured at constant 2017 US dollar exchange rates - increasing from USD 53.0 billion in 2017 to USD 57.5 billion in 2018.
The government in Vietnam aims at increasing the housing area per capita from 16.7 m2 in 2015 to 25 m2 by the end of 2020._Ongoing and future construction projects in the country include Thu Thiem Smart City, Metro lines development (USD 800 million), Long Thanh International airport (USD 16 billion), and expansion at the Tan Son Nhat International airport.

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The key insights of the Vietnam Crane Market report:

The report provides key statistics on the market status of the Vietnam Crane market manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the industry.
The report provides a basic overview of the industry including its definition, applications and manufacturing technology.
The Vietnam Crane market report presents the company profile, product specifications, capacity, production value, and 2015-2021 market shares for key vendors.
The total market is further divided by company, by country, and by application/type for the competitive landscape analysis.
The report estimates 2021-2025 market development trends of Vietnam Crane
Analysis of upstream raw materials, downstream demand and current market dynamics is also carried out
The report makes some important proposals for a new project of Vietnam Crane Industry before evaluating its feasibility.

Finally, Vietnam Crane Market report is the believable source for gaining the market research that will exponentially accelerate your business. The report gives the principle locale, economic situations with the item value, benefit, limit, generation, supply, request and market development rate and figure and so on. Automotive Actuators industry report additionally Present new task SWOT examination, speculation attainability investigation, and venture return investigation.

Key points in this report:

– The market estimate (ME) sheet in Excel format

– Report customization as per the client’s requirements

– 3 months of analyst support

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