Global Tower Crane Market: was valued at US$ 5.32 Bn. in 2021 and expected to grow at a CAGR of 8.2% during the forecast period (2022-2029), thanks to the growing trend of flat-top crane use which has boosted demand for Global Tower Cranes Market.
Global Tower Crane Market Overview:
Maximize Market Research's new report, Global Tower Crane Market 2021-2027, is useful for understanding the market's competitors. The research provides a broad and basic examination of the market, including an examination of subjective factors that might provide readers with vital business insights. The research provides a market overview that explains the value chain structure, geographical analysis, applications, market size, and forecast (2021-2027). The research will serve as a vehicle for a more accurate assessment of the current and future conditions of the worldwide Global Tower Crane market.
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Market Scope:
The research provides an analytical view of the business by studying several elements such as worldwide Global Tower Crane market growth, consumption volume, market trends, and company pricing structures throughout the projected period. The analysis includes extensive research to explore the market's complexities. The research provides an overview of the worldwide Global Tower Crane market, including market characteristics, market segmentation analysis, market size, customer landscape, and geographical landscape. The study considers growth drivers, current trends, advancements, prospects, and the competitive environment in its research. This market has been examined in several areas based on productivity and manufacturing base.
Global Tower Crane Market Dynamic:
Increasing global population and urbanization, rising investment in public infrastructure developments like dams, bridges power plants, etc. Its stability and ease of carrying overweight compared to the traditional method, construction activities like apartments, marine and seaport operations, mining, etc creating the huge demand for the tower cranes. In 2020, the “National Buildings Construction Corporation”(NBCC) India, planned to redevelop 3 government projects worth 32000 crores and India alone needs approximately US$ 7 trillion for the next 7 years. This demand is expected to create a very large market for tower crane equipment.
Global Tower Crane Market Segmentation:
Based On Product Type Segment, The global Tower Crane market is segmented into flat-top and hammer-head. The flat-top tower segment dominates the global market and was valued at US$ 9.2 Mn. in 2021. Flat-top cranes have a compact head and moveable cab. They are quick, safe, much easy to erect, do not produce stress in jib due to their great design, are lower in cost, and are easy to assemble. These factors attract the global market increasingly.
Based Lifting Capacity Segment, the global Tower Crane market is segmented into Below 10 MT, between 10 to 50 MT and, above 50 MT. Between 10 to 50 MT segment dominates the global market and it held a share of 48% in 2021. The flat-top, hammerhead tower cranes are used to lift the weight and the maximum lifting capacity is about 18 MT. It is suitable for the building and construction activities, oil and gas, mining and port operations, etc as result this segment is expected to grow at a CAGR of 6.9% during the forecast period.
Global Tower Crane Market Key Players:
• XCMG Group
• Shandong Huaxia Group Co Ltd
• Shandong Dahan Construction Machinery Co
• Manitowoc
• Yongmao Holdings Limited
• LIEBHERR
• HKTC
• Favelle Favco BHD
• Guangxi Construction Engineering Group Ltd
• Sichuan Construction Machinery Co
• Zhejiang Construction Machinery Group Co., Ltd.
• Zoomlion Heavy Industry Science & Technology Co., Ltd
• Wolffkran International
• Terex Corporation
• Fangyuan Group Co. Ltd
It then discusses the top competitors in the worldwide Global Tower Crane market, as well as emerging players, in detail, including market share based on revenue, demand, high-quality product makers, sales, and service providers. In addition, the research assesses capacity utilization, raw material sources, import-export, the value chain, price structure, and the industrial supply chain. The following players are featured in this report:
Regional Analysis:
The report has analyzed the global Global Tower Crane market in the following regions:
- America, North (the United States, Canada, and Mexico)
- European Union (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)
- Asia-Pacific region (China, Japan, Korea, India, Southeast Asia, and Australia)
- Latin America (Brazil, Argentina, Colombia, and Rest of South America)
- Africa and the Middle East (Saudi Arabia, UAE, Egypt, South Africa, and Rest of the Middle East & Africa)
The research provides comprehensive insights into numerous development opportunities and challenges in the regions mentioned above based on various types of goods, applications, end-users, and countries, among others. The research also includes key features of the worldwide Global Tower Crane market, such as sales growth, product price and analysis, growth potential, and suggestions for tackling market issues in the given regions.
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COVID-19 Impact Analysis on Global Tower Crane Market:
COVID-19 is an unprecedented worldwide public health emergency that has impacted practically every business, and the long-term impacts are expected to have an influence on industry growth throughout the projection period. Our continuing study expands our research methodology to include fundamental COVID-19 concerns and potential next steps. The research provides insights on COVID-19 by taking into account changes in consumer behavior and demand, purchasing patterns, supply chain re-routing, the dynamics of contemporary market forces, and substantial government initiatives. The revised report contains insights, analysis, projections, and predictions based on the influence of COVID-19 on the market.
Key Questions Answered in the Global Tower Crane Market Report are:
- Which are the major companies in the Global Tower Crane market?
- Which is the potential market for Global Tower Crane in terms of the region?
- Which application area of Global Tower Crane is expected to grow at a significant rate in the market in the next 5 years?
- What are the opportunities for new market entrants?
- What will be the Global Tower Crane market size by 2027?
- What are the growth prospects for the Global Tower Crane market?
- What is the base year considered in the Global Tower Crane market report?
- Which region holds the largest market share in the Global Tower Crane market?
- What factors are anticipated to drive the Global Tower Crane market?
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