The latest report by IMARC Group, titled “India Crane Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a comprehensive analysis of the industry, which comprises insights on the . The report also includes competitor and regional analysis, and contemporary advancements in the market.
India Crane Market Outlook:
The India crane market size reached US$ 3.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.3% during 2023-2028.
A crane is heavy-duty construction equipment that is utilized for lifting heavy materials and transporting them from one place to another with the help of a hoisting mechanism. It is equipped with hoist rope, sheaves, and wire ropes and is powered by hydraulics and internal combustion engine systems that provide greater lifting capabilities. A crane involves several types ranging from a simple rope pulley to a tower crane fixed to the top of a high-rise building that are utilized in various processes and discrete industries, such as power, oil and gas, civil engineering, construction, and petrochemical industries to lift and transport heavy materials that are beyond manual labor capability. Some commonly used cranes in India include truck, all-terrain, rough-terrain, and tower cranes, and crawlers.
Market Trends and Drivers:
The market in India is primarily driven by significant growth in the construction industry. Moreover, rapid urbanization and the increasing investments by the government for the development of the nation’s infrastructure, including roads, airports, railways, commercial spaces, and housing, are contributing to the market. Apart from this, constant advancements in crane designs to effectively coordinate simple systems and complete complicated lifting tasks are providing a thrust to the demand.
Additionally, the widespread integration of GPS fleet tracking in cranes, since it offers maintenance and repair, security, fuel efficiency, road safety, communication, and navigation, are further fostering the demand for cranes in the country. Other factors, such as the easy availability of renting and leasing the hoists and rising mining and automotive activities, are also impacting the market across India.
Key Market Segmentation Breakup by:
IMARC Group provides an analysis of the key trends in each sub-segment of the India crane market report, along with forecasts for growth at the regional level from 2022-2027. Our report has categorized the market based on product type and application.
- Mobile Cranes
- Marine and Port Cranes
- Fixed Cranes
- Construction and Infrastructure
- Oil and Gas
Breakup by Region:
- North India
- West and Central India
- South India
- East India
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Key highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- 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 businesses.
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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