1. Market Research
  2. > Construction
  3. > Construction Equipment Market Trends
Crane Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

Crane Market - Growth, Trends, COVID-19 Impact, and Forecast (2021 - 2026)

  • May 2021
  • 158 pages
  • ID: 6079779
  • Format: PDF
  • Mordor Intelligence LLP
Up to $750 off Until Jul 31st 2021

Summary

Table of Contents

Search Inside

The Crane Market was valued at USD 33 billion in 2020 and is expected to reach USD 48 billion by 2026 registering a CAGR of around 6.26% during the forecast period (2021 - 2026).

The Covid-19 pandemic has hindered the growth of Crane market as sectors such as energy, manufacturing, construction, and automotive were affected significantly. The construction sector also witnessed a significant decline in the number of projects worldwide as most countries across the world have imposed lockdown restrictions, disrupting overall supply chain.

However, post pandemic market is expected to regain its momentum as economic activities resumed and manufacturing activities started across the world. The implementation of automated technologies to reduce human interaction in production facilities and offices is anticipated to support the growth of the global cranes market over the projected timeframe.

The utilization of technologies, including advanced electronics and automated machinery during the COVID-19 pandemic, has not only resulted in the continuity of businesses but has also improved the manufacturing operations.

Asia-Pacific region expected to be the fastest growing market during the forecast period owing to increasing infrastructure projects in China and India. North America likely to hold significant share due to rising mining explorations and sea borne trade in region.

Key Market Trends
All-Terrain Crane Segment to Dominate the Market

With the growing construction industry and industrial development, the all terrain cranes are all set to gain significant traction across the globe. The all-terrain cranes are widely used by construction and other end-user industries. The all-terrain cranes are used over the traditional lifting and construction equipment that is likely to push the market for all-terrain cranes over the forecast period.

In additon, All-terrain cranes eliminate the requirement of dedicated transport vehicle to carry the one. The added advantage of this crane is its flexibilty to adjust and this is attracting fleet owners and crane rental providers. Major players in the market are also launching new product portfolio to gain competitive edge over their competitors.For instance,

- In July 2020, XCMG launched 750 tonnes XCA750 eight axle all-terrain crane. This crane comes with a seven section 92 meter main boom, topped by a heavy-duty hydraulically erected wind turbine extension, which is specifically designed for wind turbine repair and maintenance work.

All-terrain cranes are becoming popular in the new age of construction due to its high-intensity output and its ability to work in adverse terrains and weather conditions, likely to aid in its growth in the near future. The increasing preference for tall building construction, mining and power resources development has significantly driven the need for all-terrain cranes in the past few years.

Asia Pacific Anticipated to be the Fastest Growing Region

The growth of public infrastructure and housing units is expected to drive growthof crane market in the Asia-Pacific region. One of the largest manufacturers and consumer of the construction equipment is China. In the construction market, cranes hold a large chunk of the market share making China the largest market for cranes in the Asia-Pacific region. In India, the government has made several announcements in Union Budget 2020-21, to improve the infrastructure in the country. For instance,

- The Government of India has provided a push to the infrastructure sector by allocating Rs 1,69,637 crore (USD 24.27 billion) for the transport infrastructure.

During the forecast period, the region is expected to lead the offshore market of cranes in terms of value which is majorly attributed to the disclosure of oil and gas in the seaward basin of Gulf of Thailand, the South China Sea and Australia. Also, the governments in countries like Indonesia, Philippines are making huge investments in construction sector to boost demand. For instance,

- In March 2019, the Indonesian Government made an announcement for plans to spend IDR 571 trillion for development of transport infrastructure in the capital city Jakarta by 2029 by building a 120 km light transit railway corridor.
- The Government also made an announcement of spending IDR 6 quadrillion for the development of overall infrastructure of the country during the period 2020-24, with construction of 25 new airports, highways, affordable houses and power plants in the country.

Competitive Landscape
The Crane market is dominated by a few major players. These players have successfully capitalized on the significant demand for reliable cranes, from key players in the construction, mining, and industrial sectors. The major players in the region are spending heavily in research and development of new products and delivering cranes globally. They are also focusing on various growth strategies such as mergers, acquisitions to strengthen their position. For instance,

- In March 2020, Konecranes will deliver a mobile Harbour crane to the port of Terneuzen, the Netherlands in spring, and a second unit to the port of Antwerp, Belgium in mid-2020.
- In January 2020, Liebherr International has acquired Libero Bau Maschinen GmbH & Co.KG. As part of this acquisition, Liebherr will take over the existing sales and services network of Libero and integrate them into Liebherr’s business services.

Some of the leading players in the market studied are Manitowoc, Tadano, Kobelco, Cargotec, Kone Cranes, Liebherr, Pal finger, and XCMG.

Reasons to Purchase this report:
- The market estimate (ME) sheet in Excel format
- 3 months of analyst support

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
10% Off

$4250

  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

Crane and Hoist Market by Type, Operations, Industry - Global Forecast to 2026

  • $ 4950
  • May 2021
  • 229 pages

The crane and hoist market size is expected to grow from USD 26.0 billion in 2021 to USD 33.0 billion by 2026; it is expected to grow at a CAGR of 4.8% from 2021 to 2026. The key factors driving the growth ...

  • APAC
  • Europe
  • Construction Crane
  • Construction Equipment
  • Industry analysis
  • Renewable Generation
  • Wind Capacity

Cranes Markets in China $ 4000 March 2021

Mining Equipment Markets in China $ 4000 January 2021


ref:plp2021

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on