Global Cranes Industry: Post COVID Growth Opportunity Analysis, Key Players | Cargotec, Konecranes, and Liebherr-International.

The global Cranes market size was valued at $20.46 Billion in 2020 and is expected to reach $34.58 Billion by 2028 growing at the CAGR of 6.61% from 2021 to 2028.

The rise in governmental investment for the development of infrastructural activities drives the growth of the overhead cranes market. Under the ‘Industry 4.0’ plan, various players are adopting new digitization technologies in industrial spaces to enhance the output generated through the industrial process. This has driven the demand for overhead cranes with electronic controls.

Moreover, the growing focus on workplace safety in industrial applications boosts the growth of the overhead cranes market. Overhead cranes are specialized equipment designed to lift and transfer bulky and heavy loads in industrial spaces, being called upon every day to help safeguard workers' lives while lifting materials above them, away from them, or around them safely without any harm coming to the people working so close by.

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Key Players

Some of the major Cranes players holding high market share include Cargotec, Konecranes, and Liebherr-International. These players use new product development and collaboration as a key strategy to gain significant market share to compete with market leaders.

The key players profiled in the report are:
● Cargotec
● Konecranes
● Liebherr-International
● Manitowoc
● XCMG Group
● American Crane and Equipment
● Badger Equipment
● Broderson
● Kobelco Cranes

The recently published research report on Global Cranes Market by Evolve Business Intelligence examines the industry in the context of major market aspects including market size & forecast, market shares in terms of revenues and volume, key players, and SWOT analysis. The market is analyzed based on 4 separate indications in the market dynamic chapter: Drivers, Restraints, Key Trends, and Challenges. The total sum of these sections will help you understand what strategies will be best to adopt in order to prosper through this industry over a few short years. The quantitative analysis includes our actual findings out of this research study where we provided additional insight into what our readers can do to embrace new opportunities or plan against threats that might hinder the market.

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Cranes market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

The New Normal

As businesses recover from the COVID-19 pandemic, they have a new set of priorities to cope with. Throughout this crisis, they were forced to deal with shifting situations and often fell short of their ultimate goals. Now that a cure has been found and the pandemic is dying down, they will need to recuperate from this epidemic by setting forth new objectives to succeed in the future.

In terms of COVID 19 impact, the Cranes market report also includes the following data points:
● COVID19 Impact on Cranes market size
● End-User/Industry/Application Trend, and Preferences
● Government Policies/Regulatory Framework
● Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
● Opportunity in Cranes market

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Segmental Analysis

Market Segment By Product Type with focus on market share, consumption trend, and growth rate of Cranes Market:
o Mobile Cranes
o Marine and Port Cranes
o Fixed Cranes
o Others

Market Segment By Application with the focus on market share, consumption trend, and growth rate of Cranes Market:
o Construction and Infrastructure
o Mining
o Oil and Gas
o Others

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Key Region/ Countries Covered
● North America (US, Canada, Mexico)
● Europe (Germany, U.K., France, Italy, Russia, Rest of Europe)
● Asia-Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
● Rest of the World (the Middle East & Africa and South America)

The growth of public infrastructure and housing units is expected to drive the demand for cranes based on innovations in the Asia-Pacific region. China leads this trend, being one of the largest producers and consumers of construction equipment. Construction activity makes up a large part of China's GDP, so cranes have a large role to play in this expansion effort. India is also building heavily to improve infrastructure in the country through organizations like Prime Minister Modi’s “Make In India” campaign that encourage foreign companies to build factories within established local boundaries.

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