Crane Market | Growth, Trends, and Forecast (2018-2023)
Crane Market - Segmented by Type, and Geography - Growth, Trends, and Forecast (2019 - 2024)


MAR 2018

Crane Market - Segmented by Type, and Geography - Growth, Trends, and Forecast (2019 - 2024)

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Increasing Global Economic Growth Rate

The International Monetary Fund has reported that the global economic growth rate is in upward trajectory supported by economic growth in Europe and Asia. Economic growth is also, expected to be supported by the corporate tax cuts introduced by the United States of America. Around 120 economies in 2017 have experienced the increase in growth rate in year-on-year terms. In emerging markets, China is expected to grow moderately, and India is expected to grow at a faster rate in 2018 and 2019. Globally, the economic scenario is conducive for development of infrastructures, such as roads, railways, airports, housing and commercial establishments, increase in mining activity and trade, which is likely to expand the market for cranes. The global crane market is expected to register a CAGR of 7.22% during the forecast period.

                                     Global GDP

Source: World Bank

The Asia-Pacific Region is he Largest Market for Cranes

Asia-Pacific, led by China and India, is currently the largest market for cranes, globally, and is likely to drive the growth in the forecast period. Africa and Latin America are expected to emerge as essential markets post-2021, improving the economy, and overseas investments are expected to encourage more infrastructural development and construction activity. As of 2017, China was the largest market for cranes, both within Asia-Pacific and the global market. Demand from China is expected to grow at record levels as it takes up construction of mega projects under its Belt and Road Initiatives (BRI), which will ensure China’s position as the dominant player in the years to come.

Increased Infrastructure Spending is Expected to Drive the Crane Market

Asia contributed to more than 50 percent of investment in infrastructure between 2007 and 2015. The contribution of China to this investment is around half of the total value. Infrastructure spending in Europe had decreased between 2007 and 2015, due to the tightening of government finances. The increase in infrastructure spending is expected from the United States, as the government has made infrastructure spending its major priority to stimulate growth and create jobs. Both China and India in the Asia-Pacific region is likely to continue, to increase their infrastructure spending to support their economic growth. China made infrastructure spending its primary source to fuel economic growth, while India in its 2018 budget has allocated USD 2.2 billion to augment the telecom infrastructure and USD 157 million for expanding its airports.

Major Players in Crane Market

  • Liebherr Group
  • Terex Corporation
  • XCMG Group
  • Cargotec Corporation 

Recent Developments in Crane Market

July 2017: United Rentals has acquired Neff Corporation for USD 600 million by outbidding H&E equipment services.

June 2017: Maxim Crane Services acquired Coast Crane Works to expand its operations in the United States of America.

Reasons to Purchase Crane Market Report

  • Identifies the latest developments, market shares, and strategies employed by the major market players.
  • Analyzes the market scenario with the help of Porter’s Five Forces Analysis.
  • Insights on the type of crane that will have the largest market share
  • Analysis on impact of China’s Belt and Road Initiative on the Global Crane market
  • Impact of infrastructure spending by governments of major countries on global crane market
  • 3-month analyst support, along with the Market Estimate Sheet in excel

Crane Market Report Customization and Benefits

This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure you get a report that suits your needs

1. Introduction

              1.1 Study Deliverables of Crane Market

              1.2 General Study Assumptions

2. Research methodology

              2.1 Introduction

              2.2 Analysis Methodology

              2.3 Study Phases

              2.4 Econometric Modelling

3. Executive Summary of Crane Market

4. Market Overview and Trends

              4.1 Current Market Scenario of Crane Market

              4.2 Technology Trends of Crane Market

              4.3 Porter's Five Forces Framework

                             4.3.1 Bargaining Power of Buyers

                             4.3.2 Bargaining Power of Supplier

                             4.3.3 Threat of New Entrants

                             4.3.4 Threat of Substitute Products

                             4.3.5 Intensity of Competitive Rivalry

5. Market Dynamics

              5.1 Crane Market Drivers

                             5.1.1 Increasing Infrastructure Investments

                             5.1.2 Growing Demand for Fuel Efficient Cranes

              5.2 Crane Market Restraints

                             5.2.1 Growth of Rental Cranes

                             5.2.2 Stringent Emission Regulations on Construction Machinery

6. Market Segmentation

              6.1 Crane Market By Type

                             6.1.1 Mobile Cranes

                                  Wheel-Mounted Mobile Cranes

                                  Commercial Truck Mounted Cranes

                                  Side Boom

                                  Straddle Cranes

                                  Railroad Cranes

                                  Other Mobile Cranes

                             6.1.2 Fixed Cranes

                                  Monorail & Underhung

                                  Overhead Track Mounted Cranes

                                  Tower Cranes

                             6.1.3 Marine & Port Cranes

                                  Mobile Harbour Cranes

                                  Fixed Harbour Cranes


                                  Ship Cranes

                            6.1.4 Other Crane Types

              6.2 Crane Market By Geography

                             6.2.1 North America




                             6.2.2 Europe




                                  Rest of Europe

                             6.2.3 Asia-Pacific




                                  Rest of Asia-Pacific

                             6.2.4 Rest of the World

                                  Saudi Arabia


7. Competitive Landscape of Crane Market

              7.1 Introduction

              7.2 Market Structure & Analysis

8. Company Profiles of Crane Market

              8.1 Altec Inc.

              8.2 Cargotec

              8.3 Kone Cranes PLC

              8.4 XCMG

              8.5 Terex Corporation

              8.6 Tadano Limited

              8.7 Kobelco Cranes Co. Limited

              8.8 IHI Construction Machinery Limited

              8.9 Liebherr-International AG

              8.10 Kato Works

              8.11 Fassi Gru S.P.A. Socio Unico

              8.12 Link-Belt Construction Equipment Co

9. Disclaimer

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