In a recently published report, Kenneth Research has updated the market report for Global Crane Market for 2021 till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Global Crane Market products.
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A crane is a machine which has wire ropes or chains, hoist rope, and sheaves. It’s essentially used for the carrying of the heavy materials from one spot to another. Cranes are an important asset to the construction sector as they considerably make it simple and convenient to work with heavy machinery and materials. In the developing countries, the pace of the constructional activities has increased substantially which increases the requirement for the cranes. There are various types of cranes available on the market including crawler cranes, side boom, railroad crane, straddle crane, aerial cranes, etc.
The Crane market can be segmented on the following basis:
Based on product type
o Truck Cranes
o All Terrain Cranes
o Crawler Cranes
o Side Boom
o Straddle Crane
o Aerial Cranes
o Floating Crane
o Railroad Crane
o Tower Cranes
o Overhead Track-mounted Cranes
o Level Luffing Cranes
o Underhung Cranes
o Stiff-leg Derrick
o Harbour Cranes
o Ship Cranes
Based on Operation
Based on Industries
Aerospace and Defence
Automotive & Railway
Shipping & Material Handling
Energy & Power
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Market Dynamics and Market Growth:
Use of cranes in many manufacturing industries such as automotive industry, mining, iron ore processing industry, chemical industry, ports etc.
Advancements in technology have resulted in lighter, compact and energy-efficient cranessupporting the construction and production of efficient industrial cranes.
The growth of construction industry and rapid urbanization to boost the global industrial cranes market.
Rising disposable incomes and improving economies encouraging more infrastructural development and constructions.
Reduction in operating costs due to fuel efficiencies.
Numerous tariff and non-tariff barriers by governments across the world.
Crane manufacturing requires large investments and maintenance costs, resulting in higher cost of the products.
Trained professionals for accurate operations and proper manufacturing standards are required to avoid accidents.
Advancements in electric vehicle technology are anticipated to open up new lucrative ventures in the crane market.
Increase in the investments made by the private sector organizations and the Government for the infrastructural developments.
The increasing number of wind energy farms all over the world is a major opportunity for the crane market.
Production, construction, mining, and waste management businesses are likely to positively influence the increase of the industrial cranes market.
Growing product innovations are likely to create many opportunities in the industrial cranes market.
Global Crane Market: Regional Outlook
Geographically, the GlobalCrane Market is segmented into North America, South America, Europe, Asia Pacific, Africa & Middle East. North America follows the Asia Pacific region, followed closely by Europe. Asia Pacific region is the biggest marketplace for cranes where India and China contribute the most due to increasing investments by Government in energy, industrial, transport, and housing infrastructure facilities encouraging the construction industry in the area.
Key players in Global Crane Market
Major players in the Global Crane Market are Caterpillar/CAT, Komatsu, Case, Liebherr, Cargotec, Terex, XCMG, APMC, Tadano, Doosan, Volvo, Allis Chalmers, Fiat-Allis, John Deere, zoom lion, Liugong, Sinomach, XGMA.
Businesses have a hold on the cranes market due to the large investments needed to get into and sustain in the market. Some companies are forming alliances and are going for joint ventures to strengthen their market position. Organizations are investing in R&D to come up with innovative products for capturing new market share.
Report ContentsRegional AnalysisReport Highlights
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
US and Canada
Mexico, Brazil, Argentina and Rest of Latin America
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Rest of Eastern Europe
Australia and New Zealand
Rest of Asia Pacific
The Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
Rest of the Middle East and Africa
This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market Dynamics of the industry
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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