Global Tower Crane Market 2022-2028

Global Tower Crane Market 2022-2028

Tower cranes are used for lifting, moving, and lowering the position of materials across various sectors, such as construction and mining. These cranes have a capacity to raise over 20 kg of weight; therefore, they are increasingly being preferred equipment at construction sites. Growing demand for the highly efficient and technological advanced construction machines is significantly propelling the growth of the tower crane market. One of the key factors hindering the growth of the tower crane market is the low availability of skilled and trained labor force. This, in turn, increases the cost of procurement and training in some of the emerging economies across the globe. Besides, there is a shifting trend in the rental & leasing business of equipment in emerging economies, which in turn, creates a great growth potential for the tower crane market. Among the type of cranes, there is high demand for the flat-top tower crane in the market and its growth is expected to propel at a significant pace during the forecast period. This is due to its highly efficient features, which includes its easy operability and high-speed functionality. The flat tower crane is highly suitable to be used for the multi-cranes work sites where there is restriction of height such at the airports and powerplants.

In terms of geography, the global tower crane market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is projected to contribute a significant share in the global tower crane market and is expected to retain at its position during the forecast period. Rapid urbanization in Asia-Pacific is one of the key factors propelling the tower crane market in the region. Moreover, the region is regarded as a major attraction site for the investment by the global players of the tower crane market. This is due to the increasing demand for infrastructural development in the commercial and residential purpose sector.

The key players of the global tower crane market include Terex Corp., XCMG Group, Manitowoc Co., Inc., Fangyuan Group Co. Ltd., Norinco Group, Liebherr-International Deutschland GmbH, and Weihai Guheng Building Machinery Co., Ltd.Geographical expansion, merger and acquisition, partnerships and collaborations, finding a new market or innovate in their core competency in order to expand individual market share are some of the key strategies adopted by major market players.

Market Segmentation:

1. Global Tower Crane Market Research and Analysis by Type

2. Global Tower Crane Market Research and Analysis by Design type

3. Global Tower Crane Market Research and Analysis by Application

The Report covers:

Comprehensive research methodology of the global tower crane market.

This report also includes a detailed and extensive market overview with key analyst insights.

An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.

Analysis of regional regulations and other government policies impacting the global tower crane market.

Insights about market determinants which are stimulating the global tower crane market.

Detailed and extensive market segments with regional distribution of forecasted revenues.

Extensive profiles and recent developments of market players