November 27, 2019
According to the latest study titled ‘Global Crane Market: By Type (Fixed, Mobile), By Application (Construction & Infrastructure, Mining & Excavation, Shipyards & Marine, Manufacturing & Logistics), By Region, By Country (2018 Edition)- Forecast to 2023’ available at MarketStudyReport.com, the global crane market is estimated to grow with a CAGR of 2.47% through the year 2023.
Cranes are industrial machinery used to lift and lower heavy things and transport them to other places. It is beneficial as it offers fast setup, ease of handling construction materials, saves space, and provides cost effective solutions. These features coupled with numerous construction projects across the globe and thriving real estate industry are augmenting the growth of crane market.
The study encompasses details about market size based on revenue shares and growth opportunities for individual segments. It analyses the competitive landscape of crane market using SWOT analysis and Porter’s Five Force analysis methods. Information about the market dynamics covering drivers and restraints is also outlined in the report. It also provides strategic recommendations that can be incorporated by competitors to expand their business footprint.
Based on the type, crane market is segmented into fixed and mobile cranes. The crane market from fixed crane segment is presumed to grow substantially in the upcoming years, owing to expansion of real estate industry and surging infrastructure development projects globally, coupled with rising shipyards & freight business in major countries across the world.
While speaking of application spectrum, the industry is divided into mining & excavation, construction & infrastructure, manufacturing & logistics, and shipyards & marine.
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Considering the geographical landscape, the global crane market is fragmented into regions including Europe, North America, South America, APAC, and rest of the world. APAC crane market registered the largest regional share in 2018, pertaining to increasing commercial and industrial activities with growing demand for infrastructure development.
The key players of crane market are Kone Cranes PLC, Cargotec, Manitowoc Company, Liebherr Group, XCMG, Terex Corporation, Tadano Ltd., Zoomlion, Hitachi Construction Machinery, Kato Works Co. Ltd., and Columbus McKinnon Corporation.
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