Tower Crane Market -Regional Outlook and Growth Strategies by Leading Players till 2025
Category: #business  By Rahul Varpe  Date: 2020-04-02
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Tower Crane Market -Regional Outlook and Growth Strategies by Leading Players till 2025

The construction sector is of extreme importance in the European economy given that it is home to more than three million enterprises that directly employ a total of 18 million individuals, as claimed by the European Builders Confederation. The organization further estimates that the European construction sector accounts for more than 9% of the total GDP of the European Union. While the economic crisis severely affected the continent’s construction segment between 2008 & 2013, the tower crane market slowly began its recovery in 2015.

As per the latest research report, the Tower Crane Market is anticipated to depict a CAGR of 7% through 2025, having recorded a valuation of $3 billion in 2018.

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By 2025, the Tower Crane Market is expected to hit a remuneration of $5.5 billion. An extremely definite evaluation of the global market in terms of qualitative as well as quantitative analysis has been covered in this report.

The overall tower crane market, pertaining to increasing product demands, has been witnessing numerous technological advancements, including the integration of hydraulic systems or electric motors & internal combustion engines (ICEs). These advancements greatly increase the component’s efficiency and facilitate an enhanced level of productivity for end-use sectors. Not to mention, the ICEs & electric motors also help in eliminating carbon emissions – a major factor to be considered, given the regulations that are currently enforced on the construction, utility & mining sectors. As on today, an increasing number of manufacturers & customers are focusing more on employing environmentally friendly practices to reduce the global pollution, which would open up new growth avenues for the overall tower crane industry.

The rising construction & infrastructure upgradation projects & the deployment of heavy-load lifting equipment have been fueling tower crane market growth since the last few years. Tower cranes are renowned across the global construction sector for their ability to conveniently transport raw material to and from the construction site, significantly reducing the project’s overall development time. In fact, tower cranes have become so essential in construction that today they are a common fixture at any major construction site globally.

Market Growth Drivers –

  • Increasing high-rise building activities across the globe
  • Accelerating crane rental demand in North America & Asia Pacific
  • Utilization of heavy equipment at post & shipyards globally
  • Presence of several tower crane manufacturers in Europe
  • Recovering construction sector in Latin America
  • Development of urban infrastructure in South Africa and India
  • High demand for tower cranes from the utility sector in MEA

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Top Companies

Action Construction Equipment Ltd, Favelle Favco, FMGru, Hankook Tower Crane, JASO Industrial Cranes, Jost Cranes, Liebherr Group, Linden Comansa, Manitowoc Cranes, Raimondi Cranes S.p.A., Sany Group, Shandong Dahan Construction Machinery Co, Ltd., Terex Corporation, WOLFFKRAN International AG, 0MG Group, Yongmao, Zhejiang Construction Machinery Group, Zoomlion Heavy Industry Science and Technology Co. Ltd.

According to the World Economic Forum, construction is a massively proliferating industry in APAC with numerous economies in the region building their way to a more developed & interconnected future. From extensive redevelopment projects that aim to reinvigorate ageing transport-hubs to new schemes that are specifically designed to open up the region to the global market, nations across the APAC are investing in infrastructural development at an immense scale. This in consequence, would help APAC tower crane market chart out an extremely lucrative growth graph in the ensuing years.

Tower Crane Market, By Application

  • Rental
  • Construction
  • Mining
  • Shipyards
  • Utility

The report is inclusive of commendable information with respect the production, individual segmental growth rate, valuation, pricing, as well as segmental market share.

Tower Crane Market, By Product

  • Flat top
  • Hammerhead
  • Luffing jib
  • Self-erecting

This study is inclusive of in-depth information with respect to the consumption of the product as well as application segment market share, in tandem with the growth rate likely to be registered by every application segment.

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What are the key highlights of this report?

  • A systematic pricing analysis has been done on the sources of the product, application, as well as regional categories
  • A detailed analysis of the vendor matrix, important companies that will help better understand the competitive situation of the global business
  • Important, insightful data on the regulatory status of the market, as well as the investment scenario – for instance, how many stakeholders have invested in the market and so on
  • A deep-dive understanding of the various aspects propelling the overall market growth graph, as well as their influence on the worldwide market projections and dynamics
  • A systematic roadmap depicting the numerous growth opportunities in the worldwide market coupled with the identification of vital factors
  • An extensive evaluation of the various trends prevailing in the global industry that would help identify the various developments in the market from a global perspective
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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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