Cranes Market: Size, Industry Growth, Business Opportunities, Sales Revenue And Forecast To 2033

The new report published by The Business Research Company, titled ""Cranes Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033"", delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.

As per the report, the cranes market size has grown strongly in recent years. It will grow from $38.3 billion in 2023 to $40.28 billion in 2024 at a compound annual growth rate (CAGR) of 5.2%. The cranes market size is expected to see strong growth in the next few years. It will grow to $49.66 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%.

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The Increase In Spending On Construction Activities
The increase in spending on construction activities globally is driving the cranes market. Rapid growth in industrialization, urbanization and strong economic growth in emerging countries has contributed to growing spending on construction activities across the globe. 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. For instance, according to the U.S. Census Bureau report on monthly construction spending in 2022, the construction spending was expected to be $1,744.8 billion in April 2022, a 0.8% rise from the revised March estimate of $1,740.6 billion. Therefore, the increasing spending on construction is expected to boost demand for cranes during the forecast period.

Advance Technology Forge Groundbreaking Partnership In The Cooling Tower Market
Technological advancements are a key trend gaining popularity in the cranes market. 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. The key target of these new systems is to exclude the workforce from a potentially dangerous and challenging working environment involving enormous machinery and transported to the safety and comfort of a control room via remote crane operation. For instance, in February 2021, Manitex Valla, a subsidiary of Manitex International of the United States, released the all-new V 110 R Electric Mobile Crane, which is battery-operated and remote-controlled.

The cranes market covered in this report 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

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Major companies operating in the cranes market report are Liebherr Group, Xuzhou Heavy Machinery Co. Ltd (XCMG), Marmon Crane Services, Zoomlion India Pvt. Ltd., Zhenhua Heavy Industries Co. Ltd (ZPMC), SANY Heavy Equipment Co. Ltd, Mammoet Americas, Cargotec Oyj, PALFINGER AG, The Manitowoc Company Inc., Tadano Ltd, Maxim Crane Works, American Crane & Equipment Corporation, Bigge Crane and Rigging Co., Action Construction Equipment Ltd., Yongmao Holdings Limited, WOLFFKRAN International AG, Kobelco Cranes Co. Limited, Favelle Favco Group, Barnhart Crane & Rigging, Lampson International, JASO Tower Cranes, Eng Cranes Srl, Konecranes PLC, Sumitomo Heavy Industries Construction Cranes Co. Ltd, HKTC LLC, Shandong Huaxia Group Co. Ltd., Buckner HeavyLift, SENNEBOGEN Maschinenfabrik GmbH

Contents of the report:
1. Executive Summary
2. Cranes Market Report Structure
3. Cranes Market Trends And Strategies
4. Cranes Market - Macro Economic Scenario
5. Cranes Market Size And Growth
…..
27. Cranes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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