According to IMARC group the global crane market report has also analyzed the competitive landscape of the market with some of the top crane manufacturers being
- XCMG Group
- American Crane and Equipment
- Badger Equipment
- IHI Construction Machinery
- Link-Belt Construction Equipment
- Kobelco Cranes
A crane is a commonly used construction machinery that is extensively utilized for horizontally lifting and transporting heavy loads across industrial settings. It is usually designed using sheaves, wire ropes and hoist ropes that provide support and enable the machine to transport bulky weights from one location to another. Modern cranes generally employ hydraulic and internal combustion engine systems that are known to offer excellent mechanical strength and greater lifting capabilities. As a result, these cranes are widely employed across the construction, automotive, mining, and oil and gas industries for a vast array of applications.
According to the latest report by IMARC Group, titled “Crane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global crane market size reached a value of US$ 46.80 Billion in 2020. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 59.82 Billion by 2026, exhibiting a CAGR of 4.57% during 2021-2026.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Crane Market Trends:
The global market is primarily driven by considerable growth in the construction sector. Governments of several countries, especially that of the developing nations, are heavily investing in infrastructural development projects. This, coupled with the rapid expansion of smart cities across the globe, has contributed to the rising demand for cranes to assist in construction activities, which is providing an impetus to the market growth. Moreover, the widespread adoption of modern cranes in oil and gas exploration activities is another major growth-inducing factor. The market is further driven by the increasing utilization of advanced technologies in the manufacturing of cranes. This has led to the launch of special-purpose cranes that facilitate the removal of overburden from tunneling or shaft excavation in hydel power projects, which is gaining widespread prominence in the market. Several key players have also introduced mobile variants that offer real-time information regarding the overall performance of the machinery for valuable insights. Some of the other factors contributing to the market growth include rapid industrialization and the increasing product utilization across the power and automotive industries.
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Key Market Segmentation:
Breakup by Product Type:
- Mobile Cranes
- Marine And Port Cranes
- Fixed Cranes
Breakup by Application:
- Construction And Infrastructure
- Oil And Gas
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2015-2020)
- Market Outlook (2021-2026)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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