Raipur, Dec. 11, 2022 (GLOBE NEWSWIRE) -- Stratview Research, a leading market research firm has launched a report on the global cranes & industrial ropes market which provides an in-depth analysis of the market dynamics, current and emerging trends, industry forecast, and competitive landscape.
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How is the Report Helpful?
The report has a very high utility for the key decision-makers and strategists in terms of accurate market insights, future growth opportunities, and key success factors.
Most importantly, the report analyses the possible impact of COVID-19 on the market dynamics which offers cushioning against the uncertain business environment and helps in streamlining the resources and investment decisions in a fruitful manner.
Cranes & Industrial Ropes Market Segmentation:
Stratview Research has segmented the market in the following ways which fulfill the market data needs of multiple stakeholders across the industry value chain.
- Application Type - Port & Maritime Cranes [Mobile Harbour Cranes, Ship-to-Shore Cranes, Bulk Unloader Cranes, Container Handlers, Ship Lift, Ship Derrick Cranes, Floating Cranes, and Offshore Cranes], Construction Cranes [Tower Cranes, Telephonic Mobile Cranes, End-Termination, Truck-Mounted Cranes, Crawler Cranes, and Foundation Works], and Industrial Cranes [Overhead Traveling Cranes, Steel Works Ladle Cranes, Steel Works Blast Furnace Skips, and Steel Works Cold Rolling].
- Raw Material Type - Steel Ropes and Synthetic Ropes.
- End-User Type - OE and Aftermarket.
- Region - North America [The USA, Canada, and Mexico], Europe [Germany, France, The UK, Italy, and Rest of Europe], Asia-Pacific [China, Japan, India, and Rest of Asia-Pacific], and Rest of the World [Saudi Arabia, Brazil, and Others].
Cranes & Industrial Ropes Market Insights
Based on the application type, Construction crane is likely to remain the dominant segment of the market throughout the forecast period. Rising urbanization, increasing construction of high-rise buildings, a surge in investment towards infrastructure development, and economic growth in developing countries are the major factors behind the domination of the construction crane segment
Based on the material type, Steel ropes dominate the market as cranes deal with heavy loads. Synthetic ropes have gained some traction in the market in recent years and are expected to grow at a faster rate during the forecast period due to their lightweight property.
Based on the end-user type, OE led the market with about two-thirds of its share in 2021. The segment is likely to maintain its dominance during the forecast period as well. As ropes in cranes have a short life cycle, the aftermarket segment is expected to register higher growth during the forecast period.
Which region offers the best opportunity and growth?
In terms of regions, Asia-Pacific is expected to remain the largest market for cranes & industrial ropes during the forecast period. The economic development in the region, coupled with rising urbanization, increasing infrastructure spending, expanding industrial sector, and a significant share of the region’s market in the shipping industry, are the major factors driving the growth of the market in Asia-Pacific.
COVID-19 Impact on the Cranes & Industrial Ropes Market
The outbreak of the COVID-19 pandemic in 2020, frazzled the global economy, causing significant losses in almost every industry. The cranes & industrial ropes market was no exception. The wrath of the pandemic caused supply chain disruption, lockdowns, labor and material shortages all over the world. As a result, the cranes & industrial ropes market suffered a decline of around 13% in 2020. However, the market started to show signs of recovery in 2021, with strong growth of around 10%.
To know more about the covid-19 impact, get a free sample report, here:
https://www.stratviewresearch.com/Request-Sample/2904/cranes-&-industrial-ropes-market.html#form
Who are the Top Market Players?
The following are some of the key players in the cranes & industrial ropes market:
- Bridon-Bekaert (The Ropes Group)
- WireCo World Group
- DIEPA Drahtseilwerk Dietz GmbH & Co. KG
- KISWIRE Ltd.
- Verope AG
- ArcelorMittal
- Teufelberger-Redaelli
What deliverables will you get in this report?
- In-depth analysis of the Cranes & Industrial Ropes Market
- Detailed market segmentation.
- Competitive-landscape analysis.
- Historical, present, and future market size analysis.
- Industry trends, technologies, and advancements.
- Growth and operation strategies adopted by key players.
- Potential segments/regions offering promising growth.
- Geographical presence of the key players.
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