Increased Investment in Infrastructure to be Major Driver of the Crane Market
Added: (Thu Feb 28 2019)
Pressbox (Press Release) -
Transparency Market Research in its new report titled, “Crane Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2018 – 2026,” provides key insights on the crane market. The new report anticipates that the increased investment in infrastructure will drive the crane market during the forecast period i.e, 2018-2026. Increased high rise construction activity in metropolitan cities is fuelling the demand for cranes. Development of green energy projects such as hydroelectric dams and windmills has necessitated the usage of cranes for energy sector. Increased container traffic and formation of free-trade agreements are driving the demand for cranes that are employed on ports. Maritime cranes form an integral part of harbor management, and an increase in trade is estimated to fuel the demand for cranes, globally, says the report.
The report has segregated the global crane market based on mode of operation, product type, industry application, and region. In terms of mode of operation, the global crane market is split into three segments. IC engine is the leading segment, as it is a traditional mode of operation and is capable of powerful operations. Utilization of industrial cranes for relatively light weight has led to the development of cranes powered by electric motors. Electric cranes do not produce emission; and hence, are convenient for indoor applications.
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Based on product, the global crane market is divided into mobile cranes, fixed cranes, and marine cranes. Mobile cranes are used in construction projects, as they are self-propelled and can be transported to difficult-to-reach terrains. The mobile crane segment is further classified into eight sub-segments. Truck carrier, aerial crane, and crawler crane are some sub-segments. Fixed cranes have the ability to lift heavy loads, as are more stability. Fixed cranes are employed in manufacturing plants and large construction projects in order to hoist heavy loads. The fixed crane segment is further classified into five sub-segments. Tower crane and level luffing crane are some sub-segments.
On the basis of application industry, the global crane market is divided into construction, maritime, mining, oil & gas, industrial, and others. From a geographical perspective, the global crane market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Among these, Asia Pacific is estimated to dominate the global crane market owing to increased construction activity in China & India. Re-construction activity in North America & Europe is projected boost the crane market in these regions at a steady pace. GCC sub-region of Middle East & Africa has witnessed a rapid expansion of construction projects. This, in turn, is estimated to boost the crane market in Middle East & Africa in the near future.
Major players operating in the global crane market are profiled in this report to give a better competitive analysis and these include Liebherr Group, Cargotec, Konecranes, Mammoet, Altech Industries, Terex Corporation, Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd., Kato Works Co., Ltd., Columbus McKinnon, ZPMC, Ingersoll Rand, Zoomlion Heavy Industries Science and Technology Co., Ltd., and Sany Heavy Industry Co., Ltd.
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Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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