Crane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023
The global crane market reached a value of around US$ 40.4 Billion in 2017. The market is further expected to reach a value of US$ 52.4 Billion by 2023, exhibiting a CAGR of around 4% during 2018-2023. A crane represents a category of construction machine that is used to move the loads horizontally. It is equipped with a hoist rope, wire ropes and sheaves, and can be used to lift heavy loads or transport them to other locations. The mechanical advantages created by various components on the crane can generate powerful strength. The designs of cranes have evolved to meet the requirements of a variety of industries with modern cranes having the capability to coordinate simple systems to attain complex lifting tasks. A wide range of different types of crane can be used in construction projects to lift and move materials and other building elements from one location to another. Cranes can be of multiple types and can range from a simple rope pulley to a tower crane fixed to the top of a high-rise building. The choice of crane for a particular application will depend on a number of different factors. For the purpose of this report, cranes have been broadly classified as mobile cranes, static cranes, and marine and port cranes.
The global demand of cranes has been continuously rising driven by their unique property of lifting and transporting extremely heavy materials that are beyond the capability of manual labour. Cranes have been designed with such a technology that they can efficiently fulfil various industrial needs of achieving complex lifting and lowering tasks and that too in very dangerous environments. Cranes can function well even in severely dusty, smoky areas including the areas with extreme weather. Moreover, cranes have multidimensional uses. They are not only used in construction but are equally useful in the fields of mining; oil fields; transportation of goods and cargo; warehouse and logistics operations; etc.
Catalysed by rising industrialisation and urbanisation, the construction industry has witnessed strong growth over the last few decades. Both residential and non-residential construction has witnessed strong growth in both emerging and developed markets. This has resulted in a continuous growth in the demand of various types of cranes. Growth in a number of other end-use industries such as mining; automotive; oil and gas; etc. have also created a positive impact on the global demand of cranes.
Based on the product type, the market has been segmented as mobile cranes, marine and port cranes and fixed cranes.
On basis of application, the market has been segmented into construction and infrastructure; mining; oil and gas; and others.
Region-wise, the market has been segmented into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America. Amongst these, Asia Pacific is the biggest market accounting for the majority of the global share.
The competitive landscape of the market has also been examined with some of the key players being Cargotec, Konecranes, Liebherr-International, Manitowoc, Terex, XCMG Group, American Crane and Equipment, Badger Equipment, Broderson, IHI Construction Machinery, Link-Belt Construction Equipment and Kobelco Cranes.
This report provides a deep insight into the global crane market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the crane market in any manner.
Key Questions Answered in This Report:
How has the global crane market performed so far and how will it perform in the coming years?
What are the key regional markets in the global crane industry?
What are the major application segments in the global crane industry?
What are the key product types in the global crane industry?
What are the various stages in the value chain of the global crane market?
What are the key driving factors and challenges in the global crane market?
What are the import and export trends in the global crane market?
What is the structure of the global crane market and who are the key players?
What is the degree of competition in the global crane market?
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