Selbyville Delaware, Oct. 03, 2022 (GLOBE NEWSWIRE) —
The crane market is expected to cross a valuation of $38 billion by 2030, according to latest research study by Global Market Insights Inc. Rising demand for cranes in urban infrastructure development is expected to drive industry trends. Increasing disposable income of the working class, along with technological advancements in cranes, are believed to increase the demand for cranes.
Limited knowledge of project management techniques is likely to emerge as a key factor hindering the growth of the crane market. Various risks associated with cranes, including inefficient use of equipment, as well as weak infrastructure sites, shortage of skilled employees, and low use of high-performance technologies, hinder their penetration. However, the introduction of platforms optimized to track real-time activities and equipment location, which allow owners to monitor and manage fleet efficiency, should benefit players to eventually combat this constraint. .
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Increased use in telecommunications industry to drive mobile crane revenue growth
The mobile crane segment is expected to witness considerable demand through 2030 due to the widespread installation and maintenance of telephone lines requiring cranes. In the telecommunications industry, mobile cranes are used to provide a platform at dangerous heights and to service overhead lines, which strengthens segmental growth. The sector is further classified according to type, load capacity and application.
The Mobile Crawler Crane Industry Will See Significant Growth
The crawler crane industry would register a CAGR of over 5% from 2022 to 2030. This growth is attributed to the increasing importance of crawler cranes in the transportation, construction and manufacturing sectors as they are suitable complex projects and can lift objects in confined spaces. Their tracking properties make them very stable on various types of ground, including rough and difficult terrain, which are primed to boost product penetration.
Increased preference for mobile cranes in manufacturing applications
Demand for cranes in the manufacturing industry is expected to reach an estimated over USD 500 million by 2030. The thriving sector is encouraging participants to retrofit their existing equipment with single-engine designs to reduce carbon emissions and costs operating costs, thereby improving their revenue share, which is expected to favor the mobile crane market prospects by the end of 2030.
Latin America on the way to becoming a leading regional land
The Crane market in Latin America is expected to reach approximately $2 billion in revenue by 2030. Rapid developments and investments in the power distribution industry in the region are influencing the growth of the business thereafter. Additionally, the utility vertical monetizes the lack of traditional infrastructure in the region, which is expected to boost the progress of the LATAM industry.
Product diversification will remain a key growth strategy
Crane market competitive landscape includes Elliott Equipment Company, Altec Inc., Broderson Manufacturing Corp, Fushun Yongmao Construction Machinery Co., Ltd, Columbus Mckinnon Corporation, Dongqi Crane, Effer SPA, Fassi Gru SpA, Hitachi Sumitomo Heavy Industries Construction Crane Co . ., Ltd., Ingersoll Rand, PLC, Cargotec Corporation, JASO Industrial Cranes, Kato Works Co., Ltd., Kito Corporation, Kobelco Construction Machinery Co., Ltd., Konecranes Plc, Liebherr Group, Linden Comansa (Construcciones Metálicas Comansa SA ), Locatelli Crane SRL, Mammoet, Manitex International, Inc., The Manitowoc Company, Inc., OMV Officine Meccaniche VICARIO SPA, Palfinger AG, Raimondi Cranes Spa, Sany Group, Tadano Ltd., Terex Corporation, Weldco Beales Manufacturing, Wolffkran International AG, Xuzhou Construction Machinery Group Co., Ltd. (XCMG) and Zoomlion Heavy Industry Science and Technology Co., Ltd.
These companies strive to provide value-added services and engage in strategic alliances to launch innovative products and increase their market reach. For example, in May 2022, Sany Group, a Chinese heavy equipment manufacturing company, launched a series of low-maintenance, high-fuel-saving cranes called SRC400C. It adapts convincingly to demands, delivering operational efficiency and savings through its distinctive twin-engine modes for transporter and crane capabilities.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 360 Crane Industry0 synthesis, 2018– 2030
2.2 Trade trends
2.3 Regional trends
2.4 Product trends
Chapter 3 Crane Industry Overview
3.2 Impact of the COVID-19 outbreak
3.3 Impact of the Russian-Ukrainian conflict
3.4 Cranes Industry Ecosystem Analysis
3.5 Technology and innovation landscape
3.6 Regulatory landscape
3.7 Industry impact forces
3.7.1 Drivers of growth
220.127.116.11 Rise in mining activities in North America
18.104.22.168 Increased use in the transportation and logistics industry in Europe
22.214.171.124 Increase investment in infrastructure development in APAC
126.96.36.199 Rise in construction activities in Latin America
188.8.131.52 Expansion of oil and gas industry in MEA
3.7.2 Industry Pitfalls and Challenges
184.108.40.206 High capital investments
220.127.116.11 Lack of qualified operators and technicians
3.8 Main initiatives and news
3.9 Patent Analysis
3.10 Analysis of price trends
3.11 Analysis of growth potential
3.12 Porter’s analysis
3.13 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, USA, is a global provider of market research and advisory services, offering syndicated and custom research reports as well as consulting services. growth. Our business intelligence and industry research reports provide clients with in-depth insights and actionable market data specially designed and presented to aid in strategic decision-making. These comprehensive reports are designed through proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.