Global Crane Market 2015-2019
About Global Crane Market
The global crane market forms an integral part of the global construction equipment market. Cranes can be broadly categorized as mobile cranes, marine and port cranes, and fixed cranes based on their load lifting capacity, lift height, and outreach. The global crane market is currently undergoing a radical change, fueled by the growth of emerging economies and exponential growth of the infrastructure industry.
Technavio's analysts forecast the global crane market to grow at a CAGR of 7.75% over the period 2014-2019.
Covered in this Report
The report includes the present scenario and the growth prospects of the global crane market for the period 2015-2019.
Technavio's report, Global Crane Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors.
Technavio Announces the Publication of its Research Report – Global Crane Market 2015-2019
Technavio recognizes the following companies as the key players in the Global Crane Market: Cargotec Corp., Liebherr-International AG, Manitowoc Co. Inc., Terex Corp. and XCMG Group
Other Prominent Vendors in the market are: American Crane and Equipment, Badger Equipment, Broderson, IHI Construction Machinery, Kobelco Cranes, Link-Belt Construction Equipment and Tadano
Commenting on the report, an analyst from Technavio’s team said: “Development of next-generation mobile cranes is one of the key trends upcoming in the market. Technologically advanced cranes have better control systems such as improved efficiency and are being developed by several manufacturers.”
According to the report, the growing population, which in turn has led to a rise in the demand for residential, commercial, and industrial buildings, increases the adoption of construction equipment worldwide. Several types of cranes such as truck cranes and crawler cranes are used during civil engineering activities and construction.
Further, the report states that mobile cranes need regular servicing to perform efficiently. Many vendors in the market do not provide post-sale maintenance support to customers, which leads to customer dissatisfaction. Also, the need for continuous maintenance leads to additional costs, further increasing the total cost of ownership.