Crane Market Share, Competition by Manufacturers, Region and technology Analysis to 2025

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18th September: Global Crane Market constitutes a major part of the global construction equipment industry. They can be categorized into marine cranes, mobile cranes and fixed cranes on the basis of their outreach, load-lifting capabilities and lift height. Global crane market is undergoing a change owing to growth of emerging economies and increase in demand for infrastructure industry. Cranes are used to transport different types of load at construction sites and have widespread applications in upcoming modern infrastructure projects. Global mobile crane market is expected to witness a steady growth over 7% in the next seven years on account of increasing government investments in construction projects.


Transformation of urban areas into smart cities is expected to drive growth in the crane market in the forecast period. Incorporating efficient systems such as traffic management system and smart grids will have a positive impact on the development leading to augmented demand for mobile cranes in the foreseeable future. Increasing investments in power plant construction is major factor that will trigger the growth of the global crane market. Fleet management ensures procurement of information related to fuel consumption and operations of cranes which enhance productivity of machines in the crane industry. Furthermore, fleet management services provided by crane vendors is also a propelling factor for increase in demand for cranes
Growing population has led to a rise in the demand for commercial, industrial and residential, buildings which in turn is expected to increase the adoption of construction equipment. Several types of cranes such as crawler cranes and truck cranes are used during construction and civil engineering activities. However, instability in the macroeconomic environment will have negative impact on crane manufacturers and is likely to affect their profit margins. Global crane market is highly fragmented and few vendors such as Liebherr and Kobelco leading the market owing to extensive product portfolio and improved after sales service. Other vendors in the market include Zoom lion, Konecranes, Tadano and Terex.
Price and cost efficiency play a major role but the competitive advantage in the crane industry lies in technological superiority. Indian manufacturers are associated with international majors in technology. Increasing number of international firms are expected to enter the Indian market, with investments soaring up in the construction segments. In North America, US is expected to record a market growth of over 6% majorly with 85% market share attributed to recovery in the construction industry. In the Latin American cranes industry, Brazil accounted for the highest share in the past few years, followed by Mexico, Argentina and Colombia. Key market players include, Manitowoc, Konecranes, XCMG Group., Liebherr-International, and Terex. Other prominent Vendors include Badger Equipment, American Crane, Broderson, Link-Belt Construction, Kobelco Cranes and IHI Construction Machinery.
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