Press release
Crane Rail Market 2024-2033: Size, Share & Competitive Landscape Analysis
The crane rail market size is expected to see strong growth in the next few years. It will grow to $76.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to advancements in energy sources, rising beauty consciousness, expanding middle-class population, demand for non-invasive procedures, regulatory support.. Major trends in the forecast period include technological advancements, combination therapies, personalization and customization, sustainability and eco-friendly practices, integration of artificial intelligence (ai)..
Market Overview -
A crane rail is a crane system of high-strength steel specifically built for use in projects for bridge building, regular maintenance, and tunneling. It is commonly employed in commercial and construction settings where big objects must be lifted and moved.
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Global Surge In Manufacturing Operations Fuels Growth Of The Crane Rail Market
The surge in manufacturing operations worldwide is expected to propel the growth of the crane rail market going forward. The rise in manufacturing operations worldwide refers to a significant increase in manufacturing activities in terms of the production of goods, expansion of manufacturing facilities, and investment in new manufacturing technologies across the globe. Crane rails help move heavy loads and equipment around manufacturing facilities, increasing manufacturing operations' productivity. For instance, in August 2022, EUROSTAT, a Luxembourg-based statistical office of the European Union, in 2021, the production of manufactured goods in the European Union rose by 8% compared to 2020. Additionally, the value of EU production sold rose to €5,209 compared to €4,581 in 2020, and there is a growth of 14% in the value of traded goods. Therefore, the surge in manufacturing operations worldwide is driving the growth of the crane rail market.
Competitive Landscape -
Major companies operating in the crane rail market report are EVRAZ plc, ArcelorMittal S.A., Atlantic Track & Turnout Co. Inc., Steel Authority of India Limited, L.B. Foster Company, Nippon Steel & Sumitomo Metal Corporation, British Steel Corporation plc, Harmer Steel Ltd., Jindal Steel & Power Ltd., Gantrex India Crane Rails Private Limited, Metinvest Holding Company LLC, Bemo Rail BV, Gantrail Group, North American Rail Products Inc., Özkan Steel A.Ş., China Baowu Steel Group Co. Ltd., HBIS Group Co. Ltd., POSCO, JFE Holdings Inc., Tata Steel Limited, Nucor Corporation, Hyundai Steel Company, Voestalpine AG, SSAB AB, Gerdau S.A., VAE Metall GmbH, Steel Dynamics Inc., Maanshan Iron and Steel Company Limited, Celsa Group, Hebei Iron and Steel Group Co. Ltd.
Challenges And Opportunities In The Evolving Crane Rail Landscape
Technological innovations are a key trend gaining popularity in the crane rail market. Companies operating in the crane rail market are developing innovative products with advanced technologies to sustain their position in the market. For instance, in September 2022, Hiab, a Sweden-based machinery manufacturing and load-handling solution manufacturer, launched an advanced HIAB railway border crane range having a SPACEevo control system. This new rail series help to comply with complex railway regulations and changing requirements by offering a broad range of equipment to maintain the infrastructure. These crane rail series have a SPACEevo control system, which enables rapid movements with precision and safety in delicate operations. The SPACEevo control system for the cranes combines the highest level of safety with accurate and quick movements.
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Key Segments -
The crane rail market covered in this report is segmented -
1) By Product: Gantry Cranes, Overhead Cranes, As/Rs Systems, Portal Cranes, Stacker Or Reclaimer Cranes, Stadium Roofs, Rail-Mounted Tower Cranes
2) By Material: Steel, Aluminum, Other Materials
3) By Weight Carrying Capacity: Below 70 Kg/M Rail, 70 To 90 Kg/M Rail, 90 To 120 Kg/M Rail, Above 120 Kg/M Rail
4) By Application: Industrial Sector, Marine Sector, Logistic Sector, Mining Sector, Other Applications
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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