The global crane will expand considerably in the coming years due to recent technological advancements in the manufacturing of cranes. According to a report published by Fortune Business Insights, titled “Crane Market“: Global Market Analysis, Insights and Forecast, 2019-2026,” the market was valued at US$ 32.90 Bn in 2018. Fortune Business Insights has predicted that the market will reach US$ 50.75 Bn by 2026, thereby exhibiting a CAGR of 5.6%.
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1. By Product Type
2. By End-User Industry
- Oil & Gas
3. By Region
- North America (S. and Canada)
- Europe (UK, Germany, France, Italy, Spain, Scandinavia and Rest of Europe)
- Asia Pacific (Japan, China, India, Australia, Southeast Asia and Rest of Asia Pacific)
- Middle East & Africa (South Africa, GCC and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico and Rest of Latin America)
The expansive construction business contributed to the demand for cranes across the world. Recent technological advancements in the manufacturing of cranes have led to a rising adoption across the world. Additionally, the improvements in crane designs and operational efficacies will fuel the demand for cranes across the world. The demand for cranes has increased drastically in recent years due to applications across diverse industries such as machinery, construction, marine, and transportation. Furthermore, advancements invariants of crane such as improved designs, high lift power, low fuel consumption, and electric-operated cranes will favor the growth of the global cranes market in the forthcoming years.
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- Manitowoc Company, Inc
- Tadano Ltd
- Komatsu Ltd
- Terex Corporation
- Liebherr Group
- Hitachi Construction Machinery Europe NV
- Demag Cranes & Components GmbH
- Zoomlion Heavy Industry Science and Technology Co., Ltd
- XCMG Group
- Caterpillar Inc
Accelerated Product Launches Will Boost the Market
The high demand for cranes in several industries has encouraged companies to come up with newer products. In addition to product launches, the advent of technologically advanced cranes has laid the foundations for the growth of the global cranes market companies. The growing applications of cranes have also yielded several product launches in recent years. The trends of application-oriented cranes have enabled strong market figures on a global scale. In 2019, Manitowoc announced the launch of three new versions of the crane, each one of which was an upgrade from its previous versions. The increasing number of companies will contribute to the overall crane industry growth in recent years. Fortune Business Insights states that Manitowoc’s latest products will constitute an increase in the global Cranes Market value in the forthcoming years.
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Table of Content
5. Global Cranes Market Analysis, Insights and Forecast, 2015-2026
5.1. Key Findings / Summary
5.2. Market Size Estimates and Forecasts
5.2.1. By Product Type (Value)
5.2.2. By End-User Industry (Value)
6. North America Cranes Market Analysis, Insights and Forecast, 2015-2026
6.1. Key Findings / Summary
6.2. Market Size Estimates and Forecasts
6.2.1. By Product Type (Value)
6.2.2. By End-User Industry (Value)
7. Europe Cranes Market Analysis, Insights and Forecast, 2015-2026
7.1. Key Findings / Summary
7.2. Key Policies and Regulations
7.3. Market Size Estimates and Forecasts
7.3.1. By Product Type (Value)
7.3.2. By End-User Industry (Value)
8. Asia Pacific Cranes Market Analysis, Insights and Forecast, 2015-2026
8.1. Key Findings / Summary
8.2. Market Size Estimates and Forecasts
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
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