Mobile Crane Market in China 2015-2019
About Mobile Crane Market in China
Mobile cranes are used to lift and transport different types of loads at construction sites. They are mounted on a rubber tire or crawler carrier and powered by electric motors or internal combustion engines. The mobile crane market is part of the rapidly growing construction equipment market in China. The increased focus on improving the quality of infrastructure in the country coupled with rapid urbanization has led to a rise in the number of construction projects. This has generated positive demand for mobile cranes in China.
Technavio's analysts forecast the mobile crane market in China to grow at a CAGR of 17.03% over the period 2014-2019.
Covered in this Report
This report covers the present scenario and growth prospects of the mobile crane market in China for 2015-2019. It includes historical data of revenue generated from the sales of mobile cranes in China. The revenue generated from the sales of mobile cranes determines the market size. The forecast of the CAGR for the period 2015-2019 is based on an analysis of the present condition of the market.
Technavio's report, Mobile Crane Market in China 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. It covers the market landscape and its growth prospects in the coming years. The report also includes a discussion of the key vendors operating in this market.
Technavio Announces the Publication of its Research Report – Mobile Crane Market in China 2015-2019
Technavio recognizes the following companies as the key players in the Mobile Crane Market in China: Guangxi LiuGong Machinery, Sany Group, XCMG Group and Zoomlion Heavy Industry Science & Technology Development
Other Prominent Vendors in the market are: Manitowoc and Terex
Commenting on the report, an analyst from Technavio’s team said: “Ownership of construction equipment, such as mobile cranes, involves extensive investment. Construction companies, especially SMEs, face budget constraints. Therefore, the market is witnessing a shift toward renting cranes for construction projects. Vendors such as XCMG, Zoomlion, Guangxi LiuGong Machinery, and Sany for instance, have started providing equipment on a rental basis to contractors and construction companies. Auxiliary services such as specialist consultation and proactive maintenance are also provided to customers renting the cranes. This allows construction companies to utilize the equipment without the need for major investments.”
According to the report, in 2014, the urban population accounted for 54% of the total population and it is expected to reach 60% by 2020. In order to cater to the needs of the growing urban population and to allay problems of traffic congestion and a shortage of housing, the government is focusing on urban development. Under the 12th Five Year Plan (2011-2015), the government of China has planned the construction of 40,390 mi of new roads and 18,642 mi of new railways by the end of 2015. Additionally, $1 billion has been set aside for developing housing units by 2015.Further, the report states that with increase in the cost of raw materials and stringent emission regulations, the manufacturing cost of mobile cranes has also increased, leading to a lowering of profit margins for manufacturers.
Guangxi LiuGong Machinery, Sany Group, XCMG Group, Zoomlion Heavy Industry Science & Technology Development, Manitowo, Terex
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