Crane Market: Opportunities, Emerging Trends, Competitive Strategies, Key Players and Forecasts 2023

“Global Crane Market”
Global Crane Market Information Report by Crane Types (Mobile Cranes, Fixed Cranes, and Marine Cranes), By Application (Construction & Infrastructure, Mining, Oil & Gas, and others) and By Region – Global Forecast To 2023

Market Scenario

Crane is primarily used for lifting of heavy loads and transporting them to other places. It is widely used in mining, shipyards and marine sector. Growth in the power distribution sector across the globe, drives the demand of the market. Investments in the energy transmission & distribution (T&D) networks and the up gradation and expansion of existing networks also fuel the demand of cranes in the sector.

The market has been analyzed based on crane types, applications, and regions. On the basis of applications, global crane market is segmented as construction & infrastructure, mining, oil & gas, and others, out of which, construction dominates the application segment of the global crane market. The growing demand for residential spaces across the globe due to increase in population, ultimately drives the demand of crane. Cranes are used in oil & gas sector for loading and unloading of drill pipes, containers etc.

The Global Cranes Market was accounted for USD 32.10 billion in 2016, and it is projected to grow at a CAGR of 5.9% during the forecast period

Prominent Players

Dus Architects (The Netherlands), Winsun Global (China), Skanska AB (Sweden), Cybe Construction (The Netherlands), Foster + Partners (London), Sika AG (Switzerland), HeidelbergCement AG (Germany), LafargeHolcim Ltd (Switzerland), Balfour Beatty (U.S.), and Apis Cor (Russian Federation) are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Crane  Market.

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Crane Global Market – Competitive Analysis

Characterized by the presence of several well-established and small players, the global Market of Crane appears to be highly competitive. Well established players incorporate acquisition, collaboration, partnership, expansion, and product launch in order to gain competitive advantage in this market and to maintain their market position. These key players compete based upon pricing, and services. Vendors operating in the market strive to deliver the best quality products and services based on innovative technologies, and best practices. These Key Players make a substantial investment for R&D and to secure a guaranteed resource for the customers. Crane market demonstrates a high growth potential which is likely to attract many entrants to the market resulting in to intensified competition further.

Industry News

In June 2017, Maxim Crane Works, L.P. and Essex Rental Corp. jointly announced the successful completion of the acquisition by Maxim of Coast Crane Company, one of the largest providers of bare crane rental and related lift solutions servicing the West Coast of the United States.

In April 2017, Leavitt Cranes has acquired the assets of Pacific Tower Crane and Pacific Lift Equipment from Barnhart Crane & Rigging Co. of Memphis, Tenn.

In April 2015, Liebherr-Werk Biberach GmbH completed its takeover of the tower crane business from the Shriro Group in Hong Kong at the end of 2014. The company continues to build on its presence on the Asian market by taking over the business’s entire hire fleet and all staff.

Mobile crane dominates the crane type segment of the Global Cranes Market

On the basis of crane types, global crane market is segmented as mobile cranes, fixed cranes, and marine cranes. Mobile crane dominates the crane type segment of the global crane market mainly due to factors such as it is transported from one place to another. Various advantages of the mobile crane that also have a positive influence on the growth of the market are are flexibility and ability to access smaller areas, capability & power to lift heavy loads, and time efficiency.  Mobile crane is further segmented as wheeled mounted mobile cranes, commercial truck-mounted cranes, crawler cranes, side boom, straddle cranes and others.

Marine cranes is the fastest-growing crane type segment of the global crane market mainly due increasing demand from shipyards and oil & gas sector. Marine cranes are further classified into the mobile harbor, gantry, offshore and ship cranes.

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