Global Tower Crane Market Growth 2023-2029

Global Tower Crane Market Growth 2023-2029

A tower crane is a piece of equipment used to move or transport oversized objects. It is a stationary device, which means the base of the crane does move. A large, fixed tower supports a horizontal beam, or jib, which sits atop the tower to form an uneven letter “T.” A tower crane is often used in the construction industry to set steel beams and other large building components. It may also be used in the shipping or transportation industry to load and unload large freighters.

The base of the tower crane sits atop a concrete pad, which can vary in thickness based on the height and weight of the crane. Large anchor bolts are used to fasten the base of the tower to the concrete, and may also extend several feet into the ground. This keeps the tower safely supported to help reduce the risk of collapse.

The vertical tower extends dozens of feet into the air, and the jib rests on top. The longer section of the jib has cables attached to move or position objects below, while the shorter section of the jib extends away from these cables to act as a counterweight. Additional counterweights made from concrete or steel may be hung from the shorter section of the jib to adjust the balance of the crane.

An operator car is typically located where the jib meets the tower. The tower crane operator sits inside of this car and uses a series of controls to swing the jib and move objects. An individual on the ground or within the building oversees the process of fastening objects to the cables of the tower crane. This individual is known as a rigger and he or she uses radio or hand signals to communicate with the crane operator.

LPI (LP Information)' newest research report, the “Tower Crane Industry Forecast” looks at past sales and reviews total world Tower Crane sales in 2022, providing a comprehensive analysis by region and market sector of projected Tower Crane sales for 2023 through 2029. With Tower Crane sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Tower Crane industry.

This Insight Report provides a comprehensive analysis of the global Tower Crane landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Tower Crane portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms' unique position in an accelerating global Tower Crane market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Tower Crane and breaks down the forecast by type, by application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Tower Crane.

The global Tower Crane market size is projected to grow from US$ 2808.1 million in 2022 to US$ 2303.5 million in 2029; it is expected to grow at a CAGR of 2303.5 from 2023 to 2029.

Global tower crane main manufactuers include Zoomlion, XCMG, SANY, Liebherr, etc.Top 5 players account for about 70% of the market. Asia-Pacific is the largest market of tower crane, holding a share over 65%. As for the types of products, the most common type is hammerhead tower cranes, with a share over 65%. As for the applications of products, it is widely used in dam building, bridge building, shipyards, power plants and high rise buildings.The most common application is high rise buildings, with a share over 50%.

This report presents a comprehensive overview, market shares, and growth opportunities of Tower Crane market by product type, application, key manufacturers and key regions and countries.

Market Segmentation:

Segmentation by type

Self-erecting Tower Cranes

Flat Top Tower Cranes

Hammerhead Tower Cranes

Luffing Jib Tower Cranes

Segmentation by application

Dam Building

Bridge Building

Shipyards

Power Plants

High Rise Buildings

This report also splits the market by region:

Americas

United States

Canada

Mexico

Brazil

APAC

China

Japan

Korea

Southeast Asia

India

Australia

Europe

Germany

France

UK

Italy

Russia

Middle East & Africa

Egypt

South Africa

Israel

Turkey

GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.

XCMG

Liebherr

Manitowoc

Zoomlion

SANY

Terex

DAHAN

Fushun Yongmao

Comansa

FAVCO

Zhejiang Construction Machinery

SCM

Fangyuan Group

Huaxia

Guangxi Construction

Saez

Wolffkran

HKTC

Jost

Jaso

Raimondi

FM Gru

Wilbert

Key Questions Addressed in this Report

What is the 10-year outlook for the global Tower Crane market?

What factors are driving Tower Crane market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Tower Crane market opportunities vary by end market size?

How does Tower Crane break out type, application?

What are the influences of COVID-19 and Russia-Ukraine war?

Please note: The report will take approximately 2 business days to prepare and deliver.