Tower Crane Market Prospects and Projects Exploring the Towering Presence by 2028

Tower cranes are mostly fixed and offer heavy lifting and handling operations on very high heights. These cranes constitute of a vertical mast and an operating jib or arm, along with other components including, a counter jib, an operating cabin, slewing unit, hoist winch, and a hook, which assists in lifting and maneuvering heavy materials and goods efficiently.

Tower cranes are mostly widely utilized in the construction of buildings and other structures owing to high demand for material handling and transportation on high elevations.

Avail the Sample PDF @ https://www.alliedmarketresearch.com/request-sample/11680

According to the report published by Allied Market Research, the global tower crane market was pegged at $6.68 billion in 2020 and is estimated to hit $9.90 billion by 2028, registering a CAGR of 4.8% from 2021 to 2028.

Dynamics of the Market:

According to the application, the building construction industry is the largest contributor toward the growth in demand for tower cranes. The rapid urbanization and necessity of high-rise buildings, especially, to accommodate the surge in urban population is expected to drive the tower cranes market growth.

Top Players:
The major players operating in the tower crane industry include Action Construction Equipment Ltd., ENG CRANES Srl, JASO Tower Cranes, Liebherr-International AG, Manitowoc Company, Inc., SANY Global, Sarens n.v./s.a., WOLFFKRAN International AG, and Zoomlion Heavy Industry Science & Technology Co., Ltd.

Request for Customization @ https://www.alliedmarketresearch.com/request-for-customization/11680

Segmentation Based On:
The tower crane market is segmented on the basis of type, lifting capacity, application, and region.

By type, it is classified into self-erecting, luffing jib, hammer head, and flat top.

By lifting capacity, it is categorized into less than 5 ton, 6 to 10 ton, and more than 10 ton.

By application, it is divided into building construction, infrastructure, energy, and others.

By region, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (the UK, Germany, France, Italy, and rest of Europe), Asia-Pacific (China, India, Japan, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). Asia-Pacific is expected to hold the largest market share throughout the study period, and LAMEA is expected to grow at the fastest rate.

Key Findings Of The Study:

• By type, the flat top segment dominated the tower crane market share in 2020.
• By lifting capacity, the 6 to 10-ton segment is expected to generate high revenue, globally.
• By application, the construction segment garnered major share of the tower crane market in 2020.
• By region, Asia-Pacific dominated the market in 2020.
• By region, LAMEA is expected to witness a high growth rate during the forecast period.

Inquiry Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/11680

Contact Us:

United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
https://medium.com/me/stories/public

About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, DE. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

This release was published on openPR.