Telescopic Crane Market: Significant Profits Estimated to be Generated by 2027

Telescopic crane is a type of heavy crane used to transport and maneuver objects from one place to the other. These cranes are also a type of mobile cranes, flexible for variety of operations as they are equipped with features such as height and boom length adjustments.

Moreover, these cranes are mostly used in day-to-day hauling operations and are also very important for maneuvering operations in ports as well. The tool fixed with the arm is customizable according to the need of the tool for the desired work. The ability of a telescopic crane to support attachments makes it versatile in nature. The high mobility of the telescopic cranes increase the work efficiency and serve a variety of customer needs, including placing equipment, steel erection and concrete work, among others.

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Telescopic Crane Market: Dynamics

The growing demand of various mega construction projects, especially in developing countries, is expected to boost the growth of telescopic crane market throughout the forecast period. Telescopic cranes are also used in urban infrastructure development projects and mining operations, owing to its advanced technology and high efficiency, which fuels the growth of the telescopic crane market. One of the primary drivers for this market is increasing offshore activities on ports.

Furthermore, the rising demand for energy has led to rapid growth in the power distribution sector across the globe, which accelerates the demand for telescopic cranes in the market. Short set-up time, maneuverability, high pick and carry capabilities are some unique features and advantages of telescopic cranes that are projected for the growth of the telescopic crane market.

The high cost incurred in its preventive maintenance is expected to hamper the growth of the telescopic crane market during the forecast period.

In the current scenario, the rental system of a heavy material handling equipment is expected to gain traction in the telescopic crane market. Manufacturers in the marine and construction industries are renting heavy cranes instead of buying new ones, owing to which prominent vendors in the equipment manufacturing sector are providing telescopic cranes on rent.

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The telescopic crane market can be divided into five geographical regions including North America, Latin America, Asia Pacific, Europe, Middle East and Africa. Asia Pacific is estimated to hold a prominent share in the global telescopic market owing to increasing demand for telescopic cranes in the shipping as well as construction industries.

Japan, China and India are projected as the significant players in the Asia Pacific telescopic crane market. North America is also expected to grow at a significant growth rate due to increase in construction activities and demand for load carrying equipment in the aerospace and defense industry. The Middle East and Africa is expected to register significant growth rate in the forecast period, owing to increasing demand for telescope cranes in the oil and gas industry.

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