Crane Market

2019 Analysis and Review of Crane Market by Type - Rough Terrain Cranes, All Terrain Cranes, Truck Cranes, Mobile Harbors, Off-shore Ship Cranes, Loader Cranes, Railroad Cranes, Crawler Cranes, Tower Cranes, and Others for 2019-2029

  • 2020-03-04
  • REP-GB-2922
  • 53 Tables
  • 112 Figures
  • 285 pages
  • Format: PDF/PPT/Excel
  • SELECT LICENSE :

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Crane Market to Cross US$ 50 Bn Valuation in 2026

The industrial sector is finding itself on the edge of unparalleled transformation. In an effort to catalyze growth and boost economic development, governments all over the world are scaling up capital allocation in every industrial facet. Moreover, shifting market dynamics and stiffening competition is compelling industry executives to create distinctive capabilities and continue exploring opportunities in order to serve end users and make meaningful progress. As these activities sweep the business landscape, the global crane market will surpass US$ 50 Bn during latter stage of the forecast period (2019-2029).

Frequently Asked Questions about Crane Market

How will the global crane market fare in the future?

Cranes plays a pivotal role in the development of infrastructure, and are an essential part of various operations. With the flourishing industrial sector, including mining, manufacturing, construction, utilities, and oil & gas, the demand for cranes is expected to increase all across the globe during the forecast period.

Will rental cranes affect the sales of new cranes in the global market?

Major restraints in the sales of cranes is the growing trend of rental equipment. It has been observed that, a majority of end users are turning towards used loader cranes, as new loader cranes are costly and require high maintenance. Moreover, strong demand for used cranes against low-cost China-based cranes has been observed in India, Vietnam, and the Middle East & Africa (MEA), primarily due to the lack of monetary resources to invest in new cranes.

Which product type holds potential growth opportunities for market players?

The tower cranes segment is projected to lead the global crane market in terms of value, followed by the all-terrain cranes segment. In terms of growth rate, the tower cranes segment is expected to expand at a CAGR of nearly 5%. Demand drivers, going forward, are mining operations, urban infrastructure, irrigation, and road construction, which will influence the crane market.

What is the degree of competition in the crane market?

The competition is intensifying as regional players are targeting construction contracts and are concentrating on manufacturing energy-efficient cranes in order to meet safety standards laid down by governments. Currently, developing economies will offer strong opportunity for manufacturers and suppliers. Key players hold major revenue share in the global crane market.

Which region will lead the global sales of cranes?

China and APEC will remain in the frontline of the crane market. Rising investments in infrastructure projects such as roads, airports, waterways, ports, irrigation, pipelines, railways, and urban infrastructure in these regions are boosting the growth of the crane market.

Manufacturers Stay Focused on Tower Cranes

Tower cranes are suitable in high-structure construction works, as they are able to lift heavy loads safely and efficiently. Moreover, they exhibit excellent stability and are functional in complex lifting operations. This study reveals that, shareholders would glean over US$ 20 Bn from tower cranes towards the end of the mentioned timeframe. Rough terrain cranes (RTCs) and all terrain cranes (ATCs) are also gaining traction, as they are considered ideal for uneven and rocky terrains.

Rapid Growth of Industry-adjacent Sectors Fuels Market Growth in APAC

Procuring nearly half of total market revenue, Asia Pacific (APAC) continues to reflect value-creation prospects in the global crane market. Represented by China, top-line growth of various sectors such as   construction, mining, and automotive is creating a conducive environment to drive market value in the region. Market players are focusing on strategic collaborations and investments at scale to boost sales growth and expand their aperture. Furthermore, the crane market in APAC is likely to reach around US$ 30 Bn by 2029.

Internet of Things (IoT) - Onramp to Bigger Margins

Market players must develop comprehensive strategies to integrate technology into conventional cranes for capturing the value at stake. Internet of Things (IoT) helps in upending maintenance and repair expenses by enabling the equipment to self-detect the necessary faults for repair. The technology is primarily shifting towards artificial intelligence (AI) and big data analytics, with prime focus on reducing human intervention. Mobile crane manufacturers are aggressively moving towards the integration of technology with machine control circuits, and leveraging a two-way communication system in a bid to alert operators in case of faults or emergencies during operation.

Tower cranes account for higher demand

ATCs to see stable adoption

Construction industry remains key application area

Moderate application in mining sector

High demand for cranes with capacity up to 10 MT

Demand for 50 to 250 MT capacity cranes to surge

Stiff boom cranes stay sought-after

Knuckle boom/ telescopic boom cranes to witness sales decline

How Growth will Unfold

Crane manufacturers will devote significant capital to the construction industry, owing to investment upheaval in civil infrastructure development across commercial and residential sectors, especially in developing regions. The mining industry has been undergoing a resurgence, primarily attributable to the surging demand for minerals such as coal to cater to increasing electricity demand. This, in turn, is fueling the adoption of cranes in remote mining operations. Increasing scope of application in general engineering is further broadening growth and profitability avenues.

Crane Market Analysis by Application, 2019 (E)

* This data is only a representation. Actual data may vary and will be available in report.

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Overview

Crane Market Analysis 2019-2029

A recent market study published by FMI on the global crane market offers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historic as well as current growth parameters of the global crane market, the growth prospects of the market are obtained with maximum precision.

Crane Market Taxonomy

The global crane market is segmented in detail to cover every aspect of the market, and present a complete market intelligence approach in front of the reader.

Type

  • Rough Terrain Cranes (RTCs)
  • All Terrain Cranes (ATCs)
  • Truck Cranes
  • Mobile Harbors
  • Off-shore Ship Cranes
  • Loader Cranes
  • Railroad Cranes
  • Crawler Cranes
  • Tower Cranes
  • Others

Application

  • Aerospace and Defense
  • Automotive & Railways
  • Heavy Engineering
  • General Engineering
  • Mining
  • Construction
  • Marine
  • Shipping & Material Handling
  • Energy (Power & Gas)

Region

  • North America
  • Latin America
  • Europe
  • APEC
  • China
  • MEA

Capacity

  • Up to 5 MT
  • 5 to 50 MT
  • 50 to 250 MT
  • 250 to 500 MT
  • 500 to 1,500 MT
  • 1,500 to 3,000 MT

Design

  • Stiff Boom
  • Knuckle Boom/Telescopic Boom

What's Included

The report commences with the executive summary of the global crane market, which includes a summary of the key findings and key statistics of the market. It also includes the market value (US$ million) estimates of the leading segments of the global crane market.

Readers can find a detailed taxonomy and the definition of the global crane market in this chapter, which will help them understand the basic information about the global crane market. This section also highlights the inclusions and exclusions, which helps the reader understand the scope of the global crane market report.

This chapter explains the key macro-economic factors that are expected to influence the growth of the global crane market over the forecast period. Along with macroeconomic factors, this section also highlights the opportunity analysis for the global crane market. This chapter also highlights the key market dynamics of the global crane market, which includes the drivers, restraints, and trends. Moreover, readers will understand the key trends followed by the leading manufacturers in the global crane market.

This section explain the global market value analysis and forecast for the global crane market between the forecast period of 2019-2029. This chapter includes the detailed analysis of the historical global crane market, along with an opportunity analysis of the future. Readers can also find the absolute opportunity for the current year (2019), and an incremental opportunity for the forecast period2019-2029).

Based on product type, the global crane market is segmented into RTCs, ATCs, truck cranes, mobile harbors, off-shore ship cranes, loader cranes, railroad cranes, crawler cranes, tower cranes, and others. In this chapter, readers can find information about the key trends and developments in the Global crane market and market attractiveness analysis based on product type.

This chapter provides details about the global crane market on the basis of design, and has been classified into stiff boom and knuckle boom/telescopic boom. In this chapter, readers can understand the market attractive analysis based on design.

This chapter provides details about the global crane market on the basis of application, and has been classified into energy, automotive & railway, heavy engineering, general engineering, mining, construction, marine, shipping & material handling, and aerospace & defense. In this chapter, readers can understand the market attractive analysis based on application.

This chapter provides details about the global crane market on the basis of capacity, and has been classified into up to 5 MT, 5 to 50 MT, 50 to 250 MT, 250 to 500 MT, 500 to 1,500 MT, and 1,500 to 3,000 MT. In this chapter, readers can understand the market attractive analysis based on capacity.

This chapter provides details about the global crane market on the basis of region, and has been classified into North America, LA, Europe, MEA, China, and APEC. In this chapter, readers can understand the market attractive analysis based on region.

Readers can find detailed information about several factors, such as the pricing analysis and the regional trends that are impacting the growth of the North America crane market. This chapter also includes the growth prospects of the crane market in leading North America countries such as the U.S. and Canada.

Important growth prospects of the crane market based on its end users in several countries such as Brazil, Mexico, and the Rest of LA are included in this chapter.

Germany, Italy, France, the U.K., Spain, Russia, and the Rest of Europe are the leading countries in the European region that are the prime subjects of assessment to obtain the growth prospects of the Europe global crane market, in this chapter. Readers can find detailed information about the growth parameters of the Europe crane market during the period 2019-2029.

In this chapter, GCC, Turkey, South Africa, and the Rest of MEA are among the leading countries in the MEA region, which are the prime subjects of assessment to obtain the growth prospects of the MEA crane market.

This chapter provides information on how the crane market will grow in China during the forecast period 2019-2029.

This chapter includes a detailed analysis of the growth of the APEC crane market. Readers can also find the regional trends, regulations, and market growth.

In this chapter, readers can find detailed information about the tier analysis and market concentration of the key players in the global crane market, along with their market presence analysis by region and product portfolio.

In this chapter, readers can find a comprehensive list of all the leading stakeholders in the global crane market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Terex Corporation, Liebheer Group, Sany Group, Tadano Ltd., Zoomlion, and Kobelco, among others

This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the global crane market report.

This chapter helps readers understand the research methodology followed to obtain the various conclusions as well as important qualitative and quantitative information about the global crane market.

How the research was conducted?

Primary Research

Primary research interview with key opinion leaders and other participants were conducted for data collection and validation of the below information: 

  • Hardware
    • Sales Head
    • R&D Head
    • Procurement Head
  • Channel Partners
    • Sales Head
    • Sales Manager
  • Global Crane System Solution Providers
  • Regional Global Crane system Distributors
  • Average Selling Price (US$) of Global Crane system and Market Growth
  • Key Developments in the Global Crane
  • Global Crane Market Trends and Opportunities
  • Regional wise Dynamics
  • Market Share Information
  • Key Brands
  • Competition & Key Vendor Strategies

Secondary Research

  • Published Financial Data: Quarterly financial statements, 10-K & 10-Q filings, annual reports, Factiva, Morning Star, Zawya etc., along with company websites and other published financial sources including local newspapers, magazines to determine company wise earnings
  • Corporate Communication: Corporate press release specification sheet, price list, catalogs, and financial disclosures provided sales, products and product related information
  • Published Trade Data: Publication from trade organizations, associations, and governments, along with ITC trade database and regional / local paid databases
  • Other Data Sources: Article from target industry experts, and industry stakeholders, press information and data released by exhibitions conducted by associations etc

Primary Interview Splits

Primary Interview Splits crane market synopsis

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