Global Tower Crane Market
The report by Market Research Future (MRFR), shows that the global tower crane market is projected to exhibit a moderate 4.32% CAGR and register a substantial market valuation over the review period of 2018 to 2023.
Notable market players in the tower crane market identified by MRFR include Yongmao Holdings Limited (Singapore), Wolfkkran International AG (Switzerland), XCMG Group (China), Fangyuan Group Co. Ltd. (China), Shandong Dahan Construction Machinery Co., Ltd. (China), Guangxi Construction Engineering Group Ltd. (China), Zhejiang Construction Machinery Group Co., Ltd. (China), Zoomlion Heavy Industry Science & Technology Co., Ltd. (China), LIEBHERR (Switzerland), Manitowoc (U.S.), Terex Corporation (U.S.), HKTC (Korea), Favelle Favco BHD (Malaysia), Sichuan Construction Machinery (Group) Co. (China), and Shandong Huaxia Group Co., Ltd (China).
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Drivers and Restraints
Tower crane rental units are gaining massive traction due to the rising of small and mid-scale developers. Renting is much more striking for real estate developers due to less servicing, zero maintenance, and storage fees. The tower crane market growth is primarily driven by the increasing demand for residential buildings and apartments in urban areas, from developed and developing countries. The global expansion of the construction, infrastructure, residential, and commercial industry verticals is expected to offer lucrative growth opportunities for the revenue generation of the global tower crane market over the assessment period.
on the other hand, the lack of trained and skilled professionals in the market, and fluctuating prices of raw materials are influential factors that are expected to restrain the growth of the market over the forecast period.
Intended Audience
- Tower Crane Manufacturers
- Crane Manufacturers
- Research Institute & Education Institute
- Association of Equipment Manufacturers
- Distributors and Suppliers
- Research & Consulting Services
Segmental Analysis
The global tower crane marekt is segmented on the basis of type, application, and region.
Based on the type, the market is segmented into flat top, hammerhead, self-erecting, and luffing jib tower cranes. On the basis of the application, the market is divided into bridge building, dam building, power plants, high rise building, and shipyards. Based on the region, the market is segmented into South America, North America, Asia Pacific (APAC), Europe, and the Middle East and Africa (MEA), with respective country-level market analysis.
Regional Analysis
The swift pace of industrialization and urbanization in emerging economies in the Asia Pacific, such as India and China, are expected to pave open new avenues for potential expansion of the Tower Crane Market over the forecast period. growth of manufacturing and service sectors in developing countries such as Indonesia, Brazil, Thailand, India, and China are predicted to drive the infrastructural development in these regions in the foreseeable future. The growth in population, immigration of people to from rural regions to cities, and a lack of residential structures in urban areas are expected to create a vast scope of growth opportunities for the market over the review period.
The Asia Pacific region accounted for a significant market share in recent years and is predicted to reach a market valuation of USD 9,196 million by the end of the review period, rising at a robust 4.58% CAGR. Within the region, China and Japan together account for the majority of the APAC tower crane market and are expected to grow highly lucrative over the review period. Both of these countries are expected to generate revenue of nearly USD 5,345.1 million by the end of the forecast period.
The North America tower crane market is one of the major regions across the globe and is likely to witness a growth at a significant 4.18% CAGR over the forecast period. Canada and the U.S. have developed economies in the region and are expected to majorly contribute to market growth over the review period. Development projects of high rise buildings and bridges, along with major expansion in infrastructural development, both commercial and residential, are likely to drive the market demand in the coming years.
Research Methodology
At MRFR, our research analysts conduct a thorough objective analysis of the market while creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top executives of crane manufacturers. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner.
In addition, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.
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Table of Contents
1 Executive Summary
2 Market Introduction
2.1 Definition
2.2 Scope of the Study
2.3 List of Assumptions
2.1 Market Structure
3 Research Methodology
3.1 Research Process
3.2 Primary Research
3.3 Secondary Research
3.4 Market Size Estimation
3.5 Forecast Model
Continued……..
List of Tables
Table 1 Market Synopsis
Table 2 List of Assumptions
Table 3 Annual Value of Construction, Us, 2010–2016 (Usd Million)
Table 4 Global Tower Crane Market, by Application, 2013-2017 (Usd Million)
Table 5 Global Tower Crane Market, by Application, 2018-2023 (Usd Million)
Table 6 Global Tower Crane Market, by Type, 2013-2017 (Usd Million)
Table 7 Global Tower Crane Market, by Type, 2018-2023 (Usd Million)
Continued……..
List of Figures
Figure 1 Global Tower Crane Market: Market Structure
Figure 2 Research Process of Mrfr
Figure 3 Top Down & Bottom Up Approach
Figure 4 Dro Analysis of Global Tower Crane Market
Figure 5 Value of Construction in Great Britain, 2010–2015 (Usd Million)
Figure 6 Value Chain Analysis of Global Tower Crane Market
Figure 7 Porter’s 5 Forces Analysis of Global Tower Crane Market
Continued………
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