Major players in the crane industry have focused on acquisition to gain maximum share in the market. This further is likely to result in the consolidation of the global cranes market.
WILMINGTON, Del., Dec. 5, 2023 /PRNewswire/ — Allied Market Research published a report, titled, Cranes Market by Type (Overhead Travelling Cranes; Transporter Cranes, Gantry Cranes, & Bridge Cranes; Tower Cranes; and Portal or Pedestal Jib Cranes), Mobility (Static and Mobile), and Business Type (Original Equipment Manufacturer (OEM) and Aftermarket): Opportunity Analysis and Industry Forecast, 2023-2032. According to the report, the global cranes market was valued at $35,035.3 million in 2020 and is projected to reach $52,675.5 million by 2032, registering a CAGR of 3.2% from 2023 to 2032. Cranes are used for lifting and transporting heavy goods with the help of a hoisting mechanism equipped with hoist ropes, wire ropes, chains, or sheeves. Furthermore, they are available in various types, including overhead travelling cranes, girder cranes, bridge cranes, crawler cranes, pedestal jib cranes, and others.
Request PDF Sample Copy @ https://www.alliedmarketresearch.com/request-sample/9789
Prime determinants of growth
The growing automobile industry is significantly contributing toward the growth of the cranes market. Moreover, the U.S., Germany, and other developed countries are focussing on developing new technologies in the cranes industry to sustain their market share during the forecast period.
Report coverage & details:
|
Report Coverage |
Details |
|
Forecast Period |
2023–2032 |
|
Historic Year |
2020-2021 |
|
Base Year |
2022 |
|
Market Size in 2020 |
$35.0 Billion |
|
Market Size in 2032 |
$52.7 Billion |
|
CAGR |
3.2 % |
|
No. of Pages in Report |
189 |
|
Segments covered |
Type, Mobility, Business Type, and Region |
|
Drivers |
Rise in focus on public-private partnerships and increase in focus on service and aftermarket industry |
|
Opportunity |
Automation in cranes |
|
Restraint |
Limited availability of skilled workers |
The transporter cranes, gantry cranes, and bridge cranes segment is anticipated to register significant CAGR throughout the forecast period.
By type, the cranes market is classified into overhead travelling cranes; transporter cranes, gantry cranes, and bridge cranes; tower cranes; and portal or pedestal jib cranes. The transporter cranes, gantry cranes, and bridge cranes segment garnered more than half of the market revenue in 2020. This is attributed to the fact that gantry cranes and bridge cranes are being increasingly utilized at industrial sites such as automobile assembly, steel manufacturing, ports, and shipbuilding. Transporter cranes are further called mobile cranes or truck cranes and are majorly used in construction, utilities, and other applications.
The static segment holds the majority of shares in terms of revenue in 2020
On the basis of mobility, the cranes market is classified into static cranes and mobile cranes. Out of these, the static segment accounted for half of the market revenue in 2020, owing to the ability of static cranes to work at extreme heights and offer high stability for difficult lifting operations. The static type of cranes include overhead travelling cranes, tower cranes, bridge cranes, girder cranes, and portal or pedestal jib cranes. These cranes cannot be transported without dismantling.
Buy This Research Report (189 Pages PDF with Insights, Charts, Tables, Figures) @
https://www.alliedmarketresearch.com/checkout-final/50627f21fa969050d8992126075c72f2
The OEM segment holds the majority of shares in terms of revenue in 2020
Depending on business type, the global cranes market is classified into original equipment manufacturers (OEMs) and aftermarket. Out of these, the OEM segment accounted for more than three-fourths of the share in terms of revenue in 2020. This is attributed to the fact that OEM companies mostly manufacture and develop various parts and accessories of equipment that are marketed under other brand names. However, major OEMs may utilize engines and other equipment parts provided by other specialized manufacturing companies. Majority of the mobile crane manufacturers, including Liebherr-International AG and Tadano Ltd., are involved in OEM activities, however, also outsource various equipment parts from other companies. These companies produce the highest revenue in the global cranes market. Automation software providers, engine manufacturers, and other part manufacturers assist OEMs by providing the latest technologies.
Asia-Pacific dominates the market share in terms of revenue in 2020
The cranes market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2020, Asia-Pacific accounted for half of the market revenue. China holds the maximum share in the cranes industry in Asia-Pacific, followed by Japan. The countries such as India, South Korea, Vietnam, and others possess high growth opportunities, owing to rapid infrastructural development. However, Latin America is expected to grow at a significant CAGR throughout the forecast period.
Inquire Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/9789
Leading Market Players: –
Cargotec Corporation
Terex Corporation
Zoomlion Heavy Industry Science and Technology Co., Ltd.
Kito corporation
Konecranes Plc.
Liebherr-International Ag
Manitowoc Company, Inc.
Sany Heavy Industry Co. Ltd.
Tadano Ltd.
Xuzhou Construction Machinery Group Co., Ltd.
The report provides a detailed analysis of these key players in the cranes market. These players have adopted different strategies such as new product launches, expansion, and acquisitions to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Trending Reports in Cranes Industry (Book Now with 15% Discount):
Truck-Mounted Crane Market is projected to reach $19,409.7 million by 2030
Overhead Cranes Market is expected to reach $5,043.7 million in 2027
Mobile Crane Market is projected to reach $24.5 billion by 2031
Maritime Cranes Market is projected to reach $4,590.5 million by 2032
Marine deck cranes Market – Global Opportunity Analysis and Industry Forecast, 2023-2030
Crane Aftermarket – Global Opportunity Analysis and Industry Forecast, 2023-2030
Offshore Crane Market – Global Opportunity Analysis and Industry Forecast, 2021-2030
Truck Loader Crane Market – Global Opportunity Analysis and Industry Forecast, 2023-2032
About us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
United States
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle,
Delaware 19801 USA.
Int’l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com
Follow Us on | Facebook | LinkedIn | YouTube
Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg
