Cranes use a hoisting mechanism to lift heavy materials and transport them to another location. Cranes are primarily used in the construction, manufacturing, and shipbuilding industries for safe and efficient material handling. They are classified into two types based on how they move: static cranes and mobile cranes. Based on their structure, they are classified as truck mounted cranes, tower cranes, harbor cranes, overhead travelling cranes, and gantry cranes. Increased focus on public-private partnerships (PPPs) can help close the infrastructure investment gap, which is expected to drive the global cranes market forward. PPPs have been implemented in a number of countries, including South Korea and India, both of which are major market drivers.
Crane Market Report Scope and Research Methodology:
The main goal of the Crane Market report is to provide stakeholders with a comprehensive analysis of the market in simple language. Market research was conducted by segmenting the Crane market into major segments. The Crane Market's main segments were further subdivided into various sub-segments. The report provides a detailed analysis of the Crane industry's drivers, opportunities, restraints, and challenges by region and segment. The market report includes historical data, meaningful insights, facts, and statistically supported and industry-validated market statistics, as well as estimates based on an appropriate set of assumptions and methodologies.
The data for the Crane market report was collected using primary and secondary research methods, and the data was combined and analyzed to produce accurate and error-free results. The secondary research includes a review of leading players' annual and financial reports, while the primary research includes interviews with key opinion leaders and Crane industry experts such as skilled front-line personnel, entrepreneurs, and marketing professionals. The bottom-up approach was used to estimate the Crane market size. The SWOT analysis was used to provide the Crane Market's strengths and weaknesses, while the PESTLE and PORTER analyses were used to provide the effects of macroeconomic and microeconomic factors on the Crane Market.
Crane Market Report Overview:
The report covers the most recent revenue and trends in the Crane Market. It includes a market overview, definition, structure, as well as preventative and planned management. The report focuses on the factors that have a positive and negative impact on the Crane Market. It also aids in determining the Crane Market's future potential in the forecast years. The report assists in making market-entry decisions and understanding the Crane industry's context.
Crane Market Size was valued nearly US$ 36.78 Bn. in 2020. Global Crane Market size is estimated to grow at a CAGR of 4.56% & is expected to reach at US$ 50.25 Bn. by 2027
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Crane Market Dynamics:
In 2019, the construction segment leads the crane market with the highest revenue share of 52.5%, and this is expected to continue throughout the forecast year. The segment's expansion is likely to be aided by ongoing residential and commercial infrastructure projects around the world. Tower cranes cannot be moved once they are in place until the project is completed. As a result, builders who work on a variety of projects frequently prefer mobile cranes because they are portable. The use of this technology can also help to reduce machine idle time and, as a result, increase output.
Crane Market Segmentation:
Key businesses manufacture a wide range of goods for a wide range of industries and verticals, including construction, electricity, and utilities. These companies are heavily investing in R&D in order to create technologically superior products. Liebherr-International AG, for example, announced the release of the LTM 1150-5.3 telescopic boom crane in October 2020.
Participants in the crane market are also pursuing strategic expansion in order to enter uncharted territory. Liebherr-International AG, for example, opened a branch office in Buchloe, South Germany, in July 2019. The opening of the new office was part of the company's plan to expand geographically. Additionally, the Buchloe location has been expanded by 1,300 m2 to accommodate more used and rental machines from the company's extensive range of construction machinery.
Crane Market Key Players:
Konecranes PLC
Cargotec OYJ
Manitowoc
Terex Corporation
Tadano Limited
Kobelco Cranes Co. Ltd
Palfinger AG
Liebherr-International AG
Zoomlion Heavy Industry Science and Technology Co. Ltd
Favelle Favco Group
Hitachi Sumitomo Heavy Industries Construction Cranes Co. Ltd
XCMG Group
SANY Group
Shanghai Heavy Industries Co. Ltd (ZPMC)
Crane Market Regional Insights:
Geographically, the report is divided into several key countries, with Crane market size, growth rate, import and export of Crane market in these countries, which cover North America, the United States, Canada, Mexico, Europe, the United Kingdom, Germany, France, Spain, Italy, the Rest of Europe, Asia Pacific, China, India, Japan, Australia, South Korea, ASEAN Countries, the Rest of APAC, South America, Brazil, and the Middle East and Africa.
Key Questions answered in the Crane Market Report are:
- Which segment held the largest share in the Crane market?
- Which are the key factors driving the Crane market growth?
- Which region holds the maximum share in the Crane market?
- What is the expected CAGR of the Crane market during the forecast period?
- Who are the major players in the Crane market?
- What key trends are expected to emerge in the Crane market in the coming years?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2021)
- Past Pricing and price curve by region (2018 to 2021)
- Market Size, Share, Size & Forecast by different segment | 2022−2027.
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
- Market Segmentation – A detailed analysis by segments with their sub-segments and region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of business by region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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About Stellar Market Research
Established in 2018, Stellar Market Research is India Based consulting and advisory firm focused on helping clients to reach their business transformation objectives with advisory services and strategic business. The company’s vision is to be an integral part of the client’s business as a strategic knowledge partner. Stellar Market Research provides end-to-end solutions that go beyond key research technologies to help executives in any organization achieve their mission-critical goals. The company has clients from all across the globe, 23 % from India and others from Japan, Korea, Germany, United States, etc. The company uses its extensive industry knowledge, strong network, and know-how to provide complete insights that give clients a competitive advantage.
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