The latest report by IMARC Group, titled “Crane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global . The report also includes competitor and regional analysis, and contemporary advancements in the market.
Crane Industry Growth Analysis & Future Forecast:
The global crane market reached a value of US$ 46.8 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 64.2 Billion by 2027, exhibiting at a CAGR of 5.42% during 2022-2027.
A crane refers to a category of construction machine that is used to move the loads horizontally. It is equipped with wire ropes, a hoist rope, and sheaves and can be utilized to lift heavy loads or transport them to other locations. The mechanical advantages created by several components on the crane can generate powerful strength. The designs of these machines have developed to meet the requirements of various industries, with modern equipment capable of coordinating easy systems to attain complex lifting tasks. Cranes can be of several types, ranging from a simple rope pulley to a tower crane fixed on top of a high-rise building. The choice of equipment for a particular application will depend on various factors. Cranes find widespread applications across several sectors, such as mining, construction and infrastructure, oil and gas, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Crane Market Trends:
The escalating demand for these machines, owing to their unique property of lifting and transporting weighty materials that are beyond the capability of manual labor, is among the primary factors driving the crane market. Besides this, these equipment have been created with such a technology that they can efficiently fulfill various industrial needs of achieving complex lifting and lowering tasks and that too in hazardous environments, which is further augmenting the market growth.
Moreover, the growing popularity of cranes in mining activities, oil fields, transportation of goods and cargo, and warehouse and logistics operations is also catalyzing the global market. Apart from this, the rising industrialization and urbanization across countries and the expanding construction sector are acting as significant growth-inducing factors. Furthermore, the elevating product requirement, as it can function well even in severely dusty, smoky, and areas with extreme weather, is anticipated to propel the crane market over the forecasted period.
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- XCMG Group
- American Crane and Equipment
- Badger Equipment
- IHI Construction Machinery
- Link-Belt Construction Equipment
- Kobelco Cranes
Key Market Segmentation Breakup by:
- Mobile Cranes
- Marine And Port Cranes
- Fixed Cranes
- Construction And Infrastructure
- Oil And Gas
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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