Pune, India, March 01, 2021 (GLOBE NEWSWIRE) -- The global crane will expand considerably in the coming years due to recent technological advancements in the manufacturing of cranes. According to a report published by Fortune Business Insights, titled "Crane Market": Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 32.90 Bn in 2018. Fortune Business Insights has predicted that the market will reach US$ 50.75 Bn by 2026, thereby exhibiting a CAGR of 5.6%.
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The expansive construction business contributed to the demand for cranes across the world. Recent technological advancements in the manufacturing of cranes have led to a rising adoption across the world. Additionally, the improvements in crane designs and operational efficacies will fuel the demand for cranes across the world. The demand for cranes has increased drastically in recent years due to applications across diverse industries such as machinery, construction, marine, and transportation. Furthermore, advancements invariants of cranes such as improved designs, high lift power, low fuel consumption, and electric-operated cranes will favor the growth of the global Crane Market in the forthcoming years.
Crane Market Landscape and Market Scenario Includes:
- Current market size estimate
- Revenues by players Top Companies
- Market size by product categories
- Market size by regions/country
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Top Players
- Konecranes
- Manitowoc Company, Inc
- Tadano Ltd
- Komatsu Ltd
- Terex Corporation
- Liebherr Group
- Hitachi Construction Machinery Europe NV
- Demag Cranes & Components GmbH
- Zoomlion Heavy Industry Science and Technology Co., Ltd
- XCMG Group
- Caterpillar Inc
Accelerated Product Launches Will Boost the Market
The high demand for cranes in several industries has encouraged companies to come up with newer products. In addition to product launches, the advent of technologically advanced cranes has laid the foundations for the growth of the global Crane Market companies. The growing applications of cranes have also yielded several product launches in recent years. The trends of application-oriented cranes have enabled strong market figures on a global scale. In 2019, Manitowoc announced the launch of three new versions of the crane, each one of which was an upgrade from its previous versions. The increasing number of companies will contribute to the overall crane industry growth in recent years. Fortune Business Insights states that Manitowoc’s latest products will constitute an increase in the global Crane Market value in the forthcoming years.
Queries Addressed In Crane Market Report:
- What opportunities are present for the market players to enhance their business footprint?
- What manufacturing techniques are being implemented in the development of advanced Construction Equipment?
- Which segment is witnessing huge traction from the consumers?
- For what purposes, is the market being utilized?
- How many units are estimated to be sold in 2020?
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Advent of Electric-operated Cranes Will Enable Growth
There has been a growing awareness regarding environment-friendly vehicles and reducing the overall fuel consumption in recent years. Due to this, companies are focusing on manufacturing vehicles with minimum emission and less fuel consumption. The advent of electric-operated vehicles will help the companies generate plenty of Crane Market revenue, based solely on manufacturing and sales of electric-operated vehicles. The adoption of electric-operated vehicles will offer huge platforms for the growth for companies operating in the crane manufacturing industry.
Fortune Business Insights highlights a few of the leading Crane Market companies of recent years. Fortune Business Insights provides a detailed analysis of the exceptional strategies that these companies have adopted in recent years. Besides, analyzing the business strategies, Fortune Business Insights signifies the impact of product launches by major companies on the global market.
Key Features of Market Research Report:
- This report provides detail analysis of the market and have a comprehensive understanding of the market and its commercial landscape.
- Learn about the various market strategies that are being adopted by leading companies.
- It provides a five-year forecast assessed based on how the market is predicted to grow.
- It provides insightful analysis of changing competition dynamics and keeps you ahead of competitors.
- To understand the future scope and outlooks for the market.
- Market Forecast by regions, type and application, with sales and revenue, from 2020 to 2026.
- Market Share, distributors, major suppliers, changing price patterns and the supply chain of raw materials is highlighted in the report.
- Market Size (sales, revenue) forecast by regions and countries from 2020 to 2023 of industry.
- The global market Growth is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2023. In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
- Market Trend for Development and marketing channels are analysed. Finally, the feasibility of new investment projects is assessed and overall research conclusions offered.
- Market Report also mentions market share accrued by each product in the market, along with the production growth.
Lastly, this report covers the market landscape and its growth prospects over the coming years, the Report also brief deals with the product life cycle, comparing it to the relevant products from across industries that had already been commercialized details the potential for various applications, discussing about recent product innovations and gives an overview on potential regional market shares.
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Table of Content
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19 on Automatic Labelling Machine Market
- Short-term Impact
- Long-term Impact
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Market Share Analysis and Matrix, 2019
- Key Cranes Market Insights and Analysis, By Segments
- Global Cranes Market Analysis, Insights and Forecast (Quantitative Data), By Segments, 2016-2027
- By Product Type (Value)
- Mobile
- Fixed
- Marine
- By End-User Industry (Value)
- Construction
- Mining
- Industrial
- Oil & Gas
- Others
- By Geography (Value)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
- Latin America
- By Product Type (Value)
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Have a Look at Related Research Insights:
Ship-to-Shore (STS) Container Cranes Market Size, Share & Industry Analysis, By Type (High Profile Cranes, Low Profile Cranes), By Lifting Capacity (Panamax STS Cranes, Post Panamax STS Cranes, Super-Post Panamax STS Cranes) and Regional Forecast, 2021-2028
Material Handling Equipment Market Size, Share & COVID-19 Impact Analysis, By Equipment Type (Cranes & Lifting Equipment, Industrial Trucks, Continuous Handling Equipment, Racking & Storage Equipment), By Operations (Assembly, Distribution, Transportation, Others), By Industry (Consumer Goods & Electronics, Automotive, Food & Beverages, Pharmaceutical, Construction, Mining, Semiconductors, Others), and Regional Forecast, 2020-2027
Construction Equipment Market Size, Share and Industry Analysis, By Equipment Type (Earthmoving Equipment, Material Handling Equipment & Cranes, Concrete Equipment, Road Building Equipment, Civil Engineering Equipment, Crushing and Screening Equipment and Other Equipment), By Application (Residential, Commercial & Industrial) and Regional Forecast, 2020-2027
Air Crane Helicopter Market Size, Share & COVID-19 Impact Analysis, By Application (Power Line Construction, Aerial Firefighting, Oil & Gas, Logistics Operations, Others), Endurance (Up to 5,000 feet, and Up to 10,000 feet), External Load Capacity (Up to 3,000 pounds, Up to 6,000 pounds, Up to 12,000 pounds, and Up to 15,000 pounds), End User (Civil & Commercial and Military), and Regional Forecast, 2020-2027
Mobile Crane Market Size, Share & Industry Analysis, By Type (Truck Crane, All Terrain Crane, Rough Terrain Crane, Crawler Crane and Others), By Application (Construction, Oil & Gas, Ship Building, Power & Utilities and Others) and Regional Forecast, 2019-2026
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