GLOBAL CRANES MARKET
Cranes are used to do all the heavy lifting stuff that are used to both lift and lower heavy stuff and move them horizontally and used for loading and unloading the type of materials which are beyond the normal human capacity.
There are 7 types of cranes used depending on the type of project involved, work objectives and the environment i.e., mobile cranes, telescopic cranes, tower cranes, truck mounted cranes, overhead cranes, loader cranes and the rough terrain cranes.
Some major factors which are contributing to its growth is the increase in construction and renovation activities and practices and an increase in investments by the mining sector in construction equipment’s across the world.
In India, imports of cranes are on the rise due to the increase of construction activities. Growing population is one of the thriving factors contributing to the growth of the construction sector. The construction sector of the country is expected to grow twice as fast as China by 2030 due to its growing population.
In 2018, Asia dominated the global cranes market. China was the biggest player of the global cranes market and accounted for more than 50% of the market, followed by India. China was also the largest manufacturer of the cranes market. An increase in government spending on infrastructure projects and construction sector in China and India contributed to the overall growth of the cranes market.
The US government is also expected to increase its spending on infrastructure projects and the construction sector by over trillion dollars in the coming 10 years in order to create more jobs in the country.
The ASEAN countries are also expected to increases their budgets and spending on residential, industrial, infrastructural and construction projects in the coming 5 years.
Factors such as increased urbanization and population, investments, government spending, and consumer spending have set the ASEAN countries to grow significantly in the coming 10 to 15 years, which will trigger the growth of infrastructure and construction projects in the countries.
MARKET SIZE AND FORECAST
In Asia, the Indian crane market is anticipated to have a Compound Annual Growth Rate of about 6% during the year 2020-2025. The Indian government’s plans to boost construction and infrastructural projects in the country and thus increase the demand for construction equipment are one of the major reasons to drive the Indian crane market further in the future.
The global cranes market size is estimated at $XX Billion in 2020 growing at –% CAGR till 2025
Some of the leading players of the global cranes market are Manitowoc, Tadano, Kobelco, Cargotec, Kone Cranes, Liebherr, Palfinger and XCMG. These major players have successfully financed demand for reliable cranes from some of the key players in the construction, mining and infrastructure sectors.
These companies are also offering new products and services with safety and connectivity services to offer operational safety measures at the worksites. They are focusing on developing highly efficient and effective products to cater to various application and industrial requirements. Moreover, they are also offering cost efficient packed with safety guidelines to gain a competitive advantage and a major global market share.
|2||Scope of the report|
|7||Insights from Industry stakeholders|
|8||Cost breakdown of Product by sub-components and average profit margin|
|9||Disruptive innovation in the Industry|
|10||Technology trends in the Industry|
|11||Consumer trends in the industry|
|12||Recent Production Milestones|
|13||Component Manufacturing in US, EU and China|
|14||COVID-19 impact on overall market|
|15||COVID-19 impact on Production of components|
|16||COVID-19 impact on Point of sale|
|17||Market Segmentation, Dynamics and Forecast by Geography, 2020-2025|
|18||Market Segmentation, Dynamics and Forecast by Product Type, 2020-2025|
|19||Market Segmentation, Dynamics and Forecast by Application, 2020-2025|
|20||Market Segmentation, Dynamics and Forecast by End use, 2020-2025|
|21||Product installation rate by OEM, 2020|
|22||Incline/Decline in Average B-2-B selling price in past 5 years|
|23||Competition from substitute products|
|24||Gross margin and average profitability of suppliers|
|25||New product development in past 12 months|
|26||M&A in past 12 months|
|27||Growth strategy of leading players|
|28||Market share of vendors, 2020|
|30||Unmet needs and opportunity for new suppliers|