Press release
Cranes Market, 2023 Size, Share, Trends, Growth Outlook With Company Analysis And Forecast To 2032
Cranes Global Market
The Business Research Company's Cranes Global Market Report 2023 identifies increase in spending on construction activities as the major driver for the Cranes market's growth in the forecast period. The increased spending on construction activities is expected to boost the utilization or demand of cranes, as the on-field construction teams are investing in faster and efficient material handling equipment for safe operations and minimal human loss.
The global cranes market size grew from $36.55 billion in 2022 to $38.29 billion in 2023 at a compound annual growth rate (CAGR) of 4.8%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The market size of the cranes is expected to grow to $46.08 billion in 2027 at a CAGR of 4.7%.
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Major competitors in the Cranes market are Konecranes PLC., SANY Group, Manitowoc Company Inc., Tadano Ltd., Liebherr-International, Cargotec, XCMG Group, Street Crane Company Limited, Kobelco Cranes Co Limited, Zoomlion Heavy Industry Science and Technology Co Ltd.
A key trend in the Cranes market includes Technological advancement. Automation is taking place in the cranes market to gain work efficiency, with the incorporation of anti-collision, zoning, and internet-based setup. The companies operating in the cranes market are utilizing advanced technologies such as artificial intelligence, machine learning, and computer vision for the development of autonomous cranes. These crane's movements are monitored by operators in a control room using onboard cameras and a remote-control station.
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The Cranes market is segmented -
1) By Product type: Mobile, Fixed, Marine
2) By Business Type: Original Equipment Manufacturers (OEM), Aftersales
3) By End-User: Construction, Mining, Industrial, Oil & Gas, Other End-Users
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Cranes market.
The Business Research Company's "Global Cranes Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Cranes Market Include:
1. Executive Summary
2. Cranes Market Characteristics
3. Cranes Market Trends And Strategies
4. Cranes Market - Macro Economic Scenario
5. Cranes Market Size And Growth
……
27. Cranes Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Cranes Market
29. Cranes Market Future Outlook And Potential Analysis
30. Appendix
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