Press release
Mobile and Tower Cranes Market | Industry Report, 2031
Market Overview
Mobile and tower cranes are essential equipment used for lifting and transporting heavy materials and objects in construction sites, industrial facilities, and other settings. These cranes offer high mobility and versatility, making them indispensable in various applications.
๐๐๐ช๐ฎ๐๐ฌ๐ญ ๐๐จ๐ซ ๐ ๐ฌ๐๐ฆ๐ฉ๐ฅ๐ ๐จ๐ ๐ญ๐ก๐ข๐ฌ ๐ซ๐๐ฌ๐๐๐ซ๐๐ก ๐ซ๐๐ฉ๐จ๐ซ๐ญ ๐๐ญ (๐๐ฌ๐ ๐๐จ๐ซ๐ฉ๐จ๐ซ๐๐ญ๐ ๐๐๐ข๐ฅ ๐๐ ๐๐จ๐ซ ๐๐ฎ๐ข๐๐ค ๐๐๐ฌ๐ฉ๐จ๐ง๐ฌ๐) -https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=33431&utm_source=OpenPR_Mahendra&utm_campaign=OpenPR
Market Size and Growth
The market for mobile and tower cranes is expected to witness significant growth during the forecast period, with a CAGR of 3.7% from 2023 to 2031. The market is likely to reach a value of US$ 40.1 Bn by 2031, up from US$ 28.9 Bn in 2022.
Market Segmentation
By Service Type: The market is segmented into sales and rental services, with the sales segment dominating the market due to the high demand for new cranes.
By Sourcing Type: Sourcing types include new and used cranes, with new cranes accounting for a larger market share due to their reliability and performance.
By Application: The market is segmented based on applications such as construction, manufacturing, transportation, and others, with the construction segment holding the largest market share.
By Industry Vertical: Industry verticals include residential, commercial, industrial, and infrastructure, with the infrastructure segment expected to witness the highest growth.
By Region: The market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, with Asia Pacific leading the market due to rapid urbanization and infrastructure development in countries like China and India.
Regional Analysis
North America: The region is expected to witness steady growth due to ongoing infrastructure projects and the adoption of advanced crane technologies.
Europe: Europe is a mature market for mobile and tower cranes, with a focus on sustainability and technological advancements.
Asia Pacific: The region is expected to witness the highest growth, driven by rapid urbanization, infrastructure development, and industrialization.
Latin America: Latin America is emerging as a lucrative market, with investments in infrastructure projects driving the demand for cranes.
Middle East & Africa: The region is witnessing significant growth, driven by infrastructure development and investments in the oil and gas sector.
Market Drivers and Challenges
Drivers: Increasing urbanization, infrastructure development, and industrialization; technological advancements in crane design and functionality; growing demand for high-rise buildings and mega infrastructure projects.
Challenges: High initial investment costs, maintenance and operating expenses, stringent regulations regarding crane operations, and competition from alternative lifting equipment.
Market Trends
Technological Advancements: Integration of IoT, AI, and automation in crane operations.
Sustainability: Focus on eco-friendly crane designs and energy-efficient operations.
Rental Services: Growing demand for crane rental services due to cost-effectiveness and flexibility.
๐๐ฎ๐ฒ ๐ญ๐ก๐ข๐ฌ ๐๐ซ๐๐ฆ๐ข๐ฎ๐ฆ ๐๐๐ฌ๐๐๐ซ๐๐ก ๐๐๐ฉ๐จ๐ซ๐ญ: https://www.transparencymarketresearch.com/checkout.php?rep_id=33431
๐๐๐จ๐ฎ๐ญ ๐๐ฌ ๐๐ซ๐๐ง๐ฌ๐ฉ๐๐ซ๐๐ง๐๐ฒ ๐๐๐ซ๐ค๐๐ญ ๐๐๐ฌ๐๐๐ซ๐๐ก
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision-makers, made possible by experienced teams of Analysts, Researchers, and Consultants. The proprietary data sources and various tools & techniques we use always reflect the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in all of its business reports.
๐๐จ๐ง๐ญ๐๐๐ญ ๐๐ฌ
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