Crane Market - Future Growth Opportunities and Revenue Forecast to 2025
Category: #reports  By Rahul Varpe  Date: 2020-04-17
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Crane Market - Future Growth Opportunities and Revenue Forecast to 2025

Crane Market share was valued at USD 19 billion in the year 2018 and is projected to surpass a revenue of USD 28 billion by the year 2025 and is expected to register a CAGR of 6% over the period of 2019–2025.

The oil & gas sector is unquestionably a lucrative application arena for crane industry – specifically for tower crane market. Tower cranes are extensively deployed in offshore as well as onshore oil rig sites pertaining to applications such as drill pipe lifting, casting, maintenance equipment lifting from ships and the like. The ascent in demand can be credited to the product’s exclusive feature of operating even in severe weather conditions, in addition ensuring easy moving of heavy materials across the oil platforms.

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Dubbed as LR330, this new luffing jib crane, is claimed to be equipped with an equilateral triangular jib of a maximum length of 60 meters and weight carrying capacity of 18000 kg. Sources have also categorically stated that the Raimondi’s new luffing crane range has been specifically designed to reduce the impact of wind on the jib, thereby ensuring efficient transportation.

Apparently, the new business line is all inclusive of an absolutely free service package, where Konecranes itself provides all the maintenance cost of the rented crane without any further investment from the customers. With this absolutely innovative program designed to offer maximum flexibility to the customers, Konecranes PLC seems to be on the path of empowering its stance in the overall crane market share. The RENTALL concept, reportedly, has been already rolling out at some parts of Canada and U.S., post the successful launch of the program in some of the Nordic countries like Singapore, U.K., and Australia.

Market Growth Drivers -

  1. Global increase in construction spending
  2. Rising demand for telematics cranes in the U.S.
  3. Rapid urbanization in the U.S.
  4. Growing demand for cranes in the utility sector in Europe and Asia Pacific
  5. Rapid infrastructure development in BRIC countries
  6. Growing urbanization and safety concerns in India
  7. Growth in transportation and logistics industry in MEA

Know about Market growth in New Research and its Top growing factors by Key Companies like

Altec Inc., Broderson Manufacturing Corp, Cargotec Corporation, Columbus Mckinnon Corporation, Effer S.P.A, Elliott Equipment Company, Fassi Gru S.p.A., Fushun Yongmao Construction Machinery Co. Ltd, Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd., Ingersoll Rand, plc, JASO Industrial Cranes, Kato Works Co. Ltd., Kito Corporation, Kobelco Construction Machinery Co. Ltd., Komatsu Ltd., Konecranes Plc, Liebherr Group

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Driven by the fact that this particular category of cranes is largely installed in wind energy park, Europe has emerged to be one of the strong grounds for the business space. Augmented by the region’s hefty investments in renewable energy projects in tandem with the presence of a supportive regulatory landscape, Europe crane market size is likely to show an upsurge in the years to come.

The report overall depicts the potential opportunities for the Crane Market till the year 2025 based on SWOT analysis, growth strategies by the major vendors prevalent in the current scenario, surveys highlighting the current as well as emerging trends, etc. The chief segmentation criteria for Crane Market include product landscape, technology landscape, type landscape, end-use landscape, and application landscape. Each of these bifurcations presents a holistic overview of the market opportunities by analysing these parameters separately as well as entirely, thereby presenting forecast trends and growth potential of the Crane Market till 2025.

Report based on Product Segment: -

  1. Mobile Crane [All Terrain Crane, Crawler Crane, Rough Terrain Crane, Truck Loader Crane]
  2. Fixed Crane [Monorail Crane, Stiffleg Crane, Tower Crane, Gantry Crane]

Report based on Applications Segment: -

  1. Construction & Mining
  2. Utility [Electric, Telecom, Water]
  3. Manufacturing
  4. Transport/Shipping
  5. Oil & Gas/Energy

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Key Reasons to Purchase the Market Report

  1. The report elaborates on an in-depth evaluation of the market with respect to the product type segment, end-use segment, regional segment, and market opportunities till 2025
  2. A detailed data review alongside the meta-analysis of the market – with respect to the global vendors as well as regions – until 2025
  3. An in-depth understanding of the driving factors that will influence the market demand and preventive strengths in the market
  4. The report helps identify the latent growth opportunities of the market along with the CAGR forecast till 2025.
  5. The report will also help identify basic problems, solutions, and product developments to manipulate the progress threat.

 



About Author

Rahul Varpe

Email: ra[email protected]   

Rahul Varpe

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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