Crane is primarily used for lifting heavy loads and transporting them to other places. It is widely used in mining, shipyards and marine sector. Growing construction and infrastructure sector across the globe, is the primary driving factor of the market. Technological innovations in crane models have resulted in lighter and more energy efficient cranes. These factors have had a positive influence on the growth of the market. However, stringent norms regarding the emission is a factor that may hamper the growth of the market.
The Global Crane Market accounted for USD 32.10 billion in 2016, and it is projected to grow at a CAGR of 5.9% during the forecast period.
The market has been analyzed based on crane types, applications, and regions. On the basis of applications, global crane market is segmented as construction & infrastructure, mining, oil & gas, and others, out of which, construction dominates the application segment of the Global Crane Market. The growing demand for residential spaces across the globe due to increase in population, ultimately drives the demand of crane. Cranes are used in oil & gas sector for loading and unloading of drill pipes, containers etc.
The key players of Global Crane Market are Cargotec Oyj (Finland), Konecranes PLC (Finland), Liebherr Group (Switzerland), The Manitowoc Company, Inc. (U.S.), Terex Corporation (U.S.), Tadano Ltd. (Japan), Xuzhou Construction Machinery Group Co., Ltd. (China), Manitex International Inc. (U.S.), Sumitomo Heavy Industries Construction Crane Co., Ltd (Japan), and Shanghai Zhenhua Heavy Industry Co., Ltd. (China).
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Mobile Crane Dominates the Crane type segment of the Global Cranes Market:
On the basis of crane types, Global Crane Market is segmented as mobile cranes, fixed cranes, and marine cranes. Mobile Crane dominates the crane type segment of the Global Crane Market mainly due to factors such as it is transported from one place to another. Various advantages of the Mobile Crane that also have a positive influence on the growth of the market are are flexibility and ability to access smaller areas, capability & power to lift heavy loads, and time efficiency. Mobile Crane is further segmented as wheeled mounted mobile cranes, commercial truck-mounted cranes, crawler cranes, side boom, straddle cranes and others.
Marine cranes is the fastest-growing crane type segment of the Global Crane Market mainly due increasing demand from shipyards and oil & gas sector. Marine cranes are further classified into the mobile harbor, gantry, offshore and ship cranes.
Scope of the Report:
This study provides an overview of the Global Cranes Market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the Global Crane Market by its crane type, application and region.
By Crane Type
• Mobile Cranes
• Fixed Cranes
• Marine Cranes
• Construction & Infrastructure
• Oil & Gas
• North America
• Asia Pacific
• Rest of the World
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Asia-Pacific region dominates the Global Crane Market, followed by Europe. Growing demand from construction and infrastructure sector is driving the demand of the market in Asia-Pacific region. Asia-Pacific region is expected to grow at the fastest pace during the forecast period. Europe is another major market for cranes. Expansion and upgradation of power grids and distribution networks are driving the demand of the market in this region.
Key Points from Table of Contents:
7 Competitive Analysis
7.2 Competitive Scenario
7.2.1 Market Share Analysis
7.2.2 Market Development Analysis
7.2.3 Product/Service Benchmarking
7.3 Cargotec Oyj
7.3.2 Product/Service Offering
7.4 Konecranes PLC
7.4.2 Product/Service Offering
7.5 Liebherr Group
7.5.2 Product/Service Offering
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At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services. MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions. In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.