Tower Cranes Market Size, Growth Strategies 2022-28

The global tower cranes market size was valued at USD 6,798.3 million in 2021 and is expected to grow at a significant CAGR of 4.6% during the forecast period 2022 to 2028. Tower cranes, which are used to build large constructions like skyscrapers, can be seen along city skylines. A tower crane's primary parts are a vertical tower, also referred to as a mast, and an extended jib. These cranes are typically erected by smaller, portable cranes. A tower crane is a type of crane that has its boom or jib mounted atop a tower structure. It is a fixed crane whose height is more than the height of the building and must be built on-site. Tower cranes are employed during the construction of large buildings or tall structures. Such cranes are used by construction crews to transport steel, concrete, and other bulky, heavy items from one place to another. Affordable prices Research and development (R&D) activities have benefited tower crane companies' commercial prospects through better end-user satisfaction with performance and the adoption of contemporary technologies. Tower cranes are massive structural elements on a construction site that help raise large loads for the construction of high-rise buildings. Additionally, these cranes have numerous uses in a variety of industries, including the military, aerospace, and maritime ones. Among the most common models of tower cranes currently available are self-erecting, transportable, and hammerhead models.

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Tower Cranes Market Growth Factors:
A major factor driving the Tower Crane Market is the increase in urbanisation, which has led to numerous infrastructure and development projects like high-rise buildings, bridges, dams, and more. Tower cranes have grown more essential in the architecture and construction sector as precast construction methods have gained popularity. The building of megastructures such as stadiums, airports, and other structures has also stimulated the industry. Additionally, these cranes are frequently employed to elevate large structures in a variety of industries, including shipbuilding and mining, supporting the market's robust growth during the projection period. Construction activity has increased exponentially over time.

Tower Cranes Market Segmentation:
Tower Cranes Market: By Type (Self-erecting, Luffing Jib, Hammer Head, Flat Top), By Lifting Capacity (Less than 5 ton, 6 to 10 ton, more than 10 ton), By End User (Building Construction, Infrastructural Construction, Energy, Others)
Tower Cranes Market Regional Analysis:
The Asia Pacific region is anticipated to experience rapid growth in the global tower crane market. Tower crane demand is expected to increase as countries like China and India invest more in infrastructure development. It is anticipated that significant government programmes, like the Real in India, which can aid in city and town expansion, will accelerate market growth during the forecast period.

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Key players in the tower cranes market report are Action Construction Equipment Ltd, ENG CRANES Srl, JASO Tower Cranes, Banker Steel Company, Allegiance Crane & Equipment, Liebherr-International, Manitowoc Company, Inc, SANY Global, Sarens n.v./s.a., XCMG

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