Global Crane Market - 2023-2030
Market Overview
The global crane market reached US$ XX million in 2022 and is projected to witness lucrative growth by reaching up to US$ XX million by 2030. The market is growing at a CAGR of 3.4% during the forecast period (2023-2030).
A crane is a device that can be used to lift and put down objects as well as move them. The crane has undergone technological advancements to become more lightweight and energy-efficient, supporting market expansion. As a result, crane utilization has increased at construction sites, shipping yards and commercial companies. Additionally, cranes are used at petrochemical facilities and the energy sector's oil and gas exploration has increased demand for cranes.
Market Dynamics
The rising investments of developing economies in construction & infrastructure
The growing amount of investment in developing nations. 30 projects in 16 countries received a combined US$ 6.2 billion from IDA countries in 2021. In contrast, US$ 8.4 billion was invested in 2021 on 29 projects across 18 nations. The number of projects in IDA countries rose in 2021 despite the pandemic. Additionally, the 2021 investment promises from IDA nations were 21% higher than the US$5.2 billion average for the previous five years. International organizations served as the principal sponsor for 26 of the 30 IDA initiatives.
The construction sector is constantly growing and becoming more sophisticated. The completion of significant infrastructure development projects is getting harder. Crane demand is anticipated to increase due to accelerated infrastructure investments in China, India, U.S., UK, Indonesia and Philippines due to rising urbanization.
The lack of skilled labor
One of the challenges restricting the market is the lack of competent personnel in the manufacturing sector. It is due to the intricate layouts of overhead cranes, which necessitate intensive operator training to achieve desired results. Furthermore, the market expansion is hampered by price changes in raw materials. Due to the extended lockdown in many developed nations, notably U.S., Italy and UK, the COVID-19 epidemic has also stopped crane manufacture and sales.
COVID-19 Impact Analysis
The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).
Segment Analysis
The global crane market is segmented based on type, capacity, end-user and region.
The properties of mobile cranes drive the segment growth
The market is dominated by the sector of mobile cranes. Several features drive the market, including great mobility, high travel speeds and a short building time. Major players in the market for mobile cranes are Liebherr, Cargotec, Tadano, Manitowoc and Palfinger. These companies are heavily involved in mining, construction, aerospace, shipping and material handling.
Geographical Analysis
The growing manufacturing and infrastructure sectors in Asia-Pacific
The growing demand for cranes in developing countries, especially in Asia-Pacific, creates opportunities for market expansion. The anticipated expansion of the manufacturing and infrastructure development sectors fuels mobile crane use in China. Favorable government programs, like the Belt and Road Initiative (BRI), are predicted to stimulate aggressive investment in brand-new development ventures. Furthermore, the expansion of offshore E&P activity in China, Malaysia, Australia and Thailand is also blamed for the surge.
Competitive Landscape
The major global players in the market include Liebherr, Mammoet, Sarens, Maxim Crane Works, Sanghvi Movers, Deep South, Weldex, ALL Erection & Crane Rental Corp., Lampson International LLC and Palfinger AG.
Why Purchase the Report?
• To visualize the global crane market segmentation based on type, capacity, end-user and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of crane market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as excel consisting of key products of all the major players.
The global crane market report would provide approximately 61 tables, 59 figures and 200 Pages.
Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies
- 1. Methodology and Scope
- 1.1. Research Methodology
- 1.2. Research Objective and Scope of the Report
- 2. Definition and Overview
- 3. Executive Summary
- 3.1. Snippet By Type
- 3.2. Snippet By Capacity
- 3.3. Snippet By End-User
- 3.4. Snippet By Region
- 4. Dynamics
- 4.1. Impacting Factors
- 4.1.1. Drivers
- 4.1.1.1. The rising technological advancements
- 4.1.1.2. The rising investments of developing economies in construction & infrastructure
- 4.1.2. Restraints
- 4.1.2.1. The high costs of crane
- 4.1.2.2. XX
- 4.1.3. Opportunity
- 4.1.3.1. XX
- 4.1.4. Impact Analysis
- 5. Industry Analysis
- 5.1. Porter's Five Forces Analysis
- 5.2. Supply Chain Analysis
- 5.3. Pricing Analysis
- 5.4. Regulatory Analysis
- 6. COVID-19 Analysis
- 6.1. Analysis of COVID-19
- 6.1.1. Before COVID-19 Scenario
- 6.1.2. Present COVID-19 Scenario
- 6.1.3. Post COVID-19 or Future Scenario
- 6.2. Pricing Dynamics Amid COVID-19
- 6.3. Demand-Supply Spectrum
- 6.4. Government Initiatives Related to the Market During Pandemic
- 6.5. Manufacturers Strategic Initiatives
- 6.6. Conclusion
- 7. By Type
- 7.1. Introduction
- 7.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 7.1.2. Market Attractiveness Index, By Type
- 7.2. Mobile Crane*
- 7.2.1. Introduction
- 7.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 7.2.3. All-terrain Crane
- 7.2.4. Crawler Crane
- 7.2.5. Rough Terrain Crane
- 7.2.6. Truck Loader Crane
- 7.3. Fixed Crane
- 7.3.1. Monorail Crane
- 7.3.2. Tower Crane
- 7.3.3. Stiff leg Crane
- 7.3.4. Gantry Crane
- 8. By Capacity
- 8.1. Introduction
- 8.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
- 8.1.2. Market Attractiveness Index, By Capacity
- 8.2. Low*
- 8.2.1. Introduction
- 8.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 8.3. Medium
- 8.4. Heavy
- 9. By End-User
- 9.1. Introduction
- 9.1.1. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 9.1.2. Market Attractiveness Index, By End-User
- 9.2. Building & Construction*
- 9.2.1. Introduction
- 9.2.2. Market Size Analysis and Y-o-Y Growth Analysis (%)
- 9.3. Marine & Offshore
- 9.4. Mining & Excavation
- 9.5. Oil & Gas
- 9.6. Transportation
- 9.7. Others
- 10. By Region
- 10.1. Introduction
- 10.2. Market Size Analysis and Y-o-Y Growth Analysis (%), By Region
- 10.3. Market Attractiveness Index, By Region
- 10.4. North America
- 10.4.1. Introduction
- 10.4.2. Key Region-Specific Dynamics
- 10.4.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.4.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
- 10.4.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.4.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.4.6.1. U.S.
- 10.4.6.2. Canada
- 10.4.6.3. Mexico
- 10.5. Europe
- 10.5.1. Introduction
- 10.5.2. Key Region-Specific Dynamics
- 10.5.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.5.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
- 10.5.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.5.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.5.6.1. Germany
- 10.5.6.2. UK
- 10.5.6.3. France
- 10.5.6.4. Italy
- 10.5.6.5. Spain
- 10.5.6.6. Rest of Europe
- 10.6. South America
- 10.6.1. Introduction
- 10.6.2. Key Region-Specific Dynamics
- 10.6.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.6.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
- 10.6.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.6.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.6.6.1. Brazil
- 10.6.6.2. Argentina
- 10.6.6.3. Rest of South America
- 10.7. Asia-Pacific
- 10.7.1. Introduction
- 10.7.2. Key Region-Specific Dynamics
- 10.7.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.7.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
- 10.7.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 10.7.6. Market Size Analysis and Y-o-Y Growth Analysis (%), By Country
- 10.7.6.1. China
- 10.7.6.2. India
- 10.7.6.3. Japan
- 10.7.6.4. Australia
- 10.7.6.5. Rest of Asia-Pacific
- 10.8. Middle East and Africa
- 10.8.1. Introduction
- 10.8.2. Key Region-Specific Dynamics
- 10.8.3. Market Size Analysis and Y-o-Y Growth Analysis (%), By Type
- 10.8.4. Market Size Analysis and Y-o-Y Growth Analysis (%), By Capacity
- 10.8.5. Market Size Analysis and Y-o-Y Growth Analysis (%), By End-User
- 11. Competitive Landscape
- 11.1. Competitive Scenario
- 11.2. Market Positioning/Share Analysis
- 11.3. Mergers and Acquisitions Analysis
- 12. Company Profiles
- 12.1. Liebherr
- 12.1.1. Company Overview
- 12.1.2. Product Portfolio and Description
- 12.1.3. Key Highlights
- 12.1.4. Financial Overview
- 12.2. Mammoet
- 12.3. Sarens
- 12.4. Maxim Crane Works
- 12.5. Sanghvi Movers
- 12.6. Deep South
- 12.7. Weldex
- 12.8. ALL Erection & Crane Rental Corp.
- 12.9. Lampson International LLC
- 12.10. Palfinger AG
- LIST NOT EXHAUSTIVE
- 13. Appendix
- 13.1. About Us and Services
- 13.2. Contact Us
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