Press release
All-Terrain Crane Market is expected to grow at a CAGR of approximately 5% by 2023
Market HighlightsCranes are primarily used for lifting heavy loads and transporting them to other places. An all-terrain crane is a type of mobile crane. All-terrain cranes are principally used in civil engineering construction works and in heavy equipment manufacturing for material handling. Growing construction sector across the globe, drives the growth of the market. Increasing investments in power transmission and distribution (T&D) networks, also pours the market growth. Adoption of all terrain-cranes, is also expected to accelerate due to the expansion in cement plants and increased business potential of ship building/repair. Moreover, rising competition in the market is expected to further drive the crane rental rates resulting in overall growth of all terrain crane revenue share. The general construction and transportation sectors on the other side are back into force with a large number of projects coming in their way, which is expected to have a progressive impact on the all-terrain crane industry. Majorly developing economies contribute in this difference, where both construction and retrofit market are growing at significantly higher pace. Also the developed economies are expected to demand up gradation of all terrain cranes in the future. However, the high maintenance cost, and high initial investment, are the factors that may hamper the growth of the all-terrain market.
Hence, Global All-Terrain Cranes Market is expected to grow at a CAGR of 5% during the forecast period.
Increasing up gradation, repair and rehabilitation of both, the existing infrastructure and power grids and distribution networks, drive the growth of the market in Europe. Germany and the U.K. are the major markets in Europe. In U.K., the construction value of both, the public and private sectors are increasing, continuously. This will have huge potential for the market in coming years. North America is another major region for all-terrain cranes. The U.S. is a major markets in North America. Strong development in commercial and residential structures in the U.S., is anticipated to fuel the demand for all-terrain cranes market in the region.
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Prominent Players
Prominent Players in the global all-terrain cranes market include
• Liebherr Group (Switzerland),
• The Manitowoc Company, Inc. (U.S.),
• Terex Corporation (U.S.),
• Tadano Ltd. (Japan),
• Xuzhou Construction Machinery Group Co., Ltd. (China),
• KATO WORKS CO., LTD (Japan),
• Elliott Equipment Company (U.S.),
• Manitex International Inc. (U.S.),
• SANY GROUP (China),
• Altec Industries (U.S.),
• Bcker Maschinenwerke GmbH (Germany).
Market Research Analysis
For this study, the global all-terrain cranes market has been divided on the basis of type, and application. On the basis of type, the market has been segmented as less than 200 Ton, 200 to 500 Ton, and more than 500 Ton. 200 to 500 Ton all-terrain cranes is projected to grow at the highest CAGR during the forecast period. 200 to 500 Ton all-terrain cranes cater to all major lifting operations and are versatile in performing safe on and off-road construction projects.
Based on applications, the market has been segmented as construction, industries, utilities and others. The construction segment accounted for the largest market share. Due to increasing population and urbanization, there has been a shift in the population in the urbanized areas, especially in developing nations. This transition leads to an increased demand for homes and residential complexes, driving the demand in the segment. Increased investment in new commercial constructions and infrastructure projects also increases the demand in this segment. Utility is another major application of the market. Increasing investments in power transmission and distribution (T&D) networks, is a factor driving the market for all-terrain cranes.
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Table of Content
1 Executive Summary
2 Scope Of The Report
2.1 Market Definition
2.2 Scope Of The Study
2.2.1 Definition
2.2.2 Research Objective
2.2.3 Assumptions
2.2.4 Limitations
2.3 Research Process
2.3.1 Primary Research
2.3.2 Secondary Research
2.4 Market Size Estimation
2.5 Forecast Model
3 Market Landscape
3.1 Porter’s Five Forces Analysis
Continue……….
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