The Crane Market is set to grow from its current market value of more than USD 19 billion to over USD 28 billion. Dubbed as LR330, this new luffing jib crane, is claimed to be equipped with an equilateral triangular jib of a maximum length of 60 meters and weight carrying capacity of 18000 kg. Sources have also categorically stated that the Raimondi’s new luffing crane range has been specifically designed to reduce the impact of wind on the jib, thereby ensuring efficient transportation.

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Furthermore, the equiangular triangular jib design would also enhance numerous other operational aspects of the machine as well, cite sources. While Raimondi already holds a strong position in global crane market with a history of nearly one and half centuries, the launch of LR330 would undoubtedly prove to be a milestone in its journey. Some of the other pronounced players whose contributions have been significant in proliferating crane industry trends include Hitachi Sumitomo Heavy Industries Construction Crane Co, Terex Corporation, Manitowoc, Konecranes PLC, Liebherr Group, and Palfinger AG.

The oil & gas sector is unquestionably a lucrative application arena for crane market – specifically for tower crane industry. Tower cranes are extensively deployed in offshore as well as onshore oil rig sites pertaining to applications such as drill pipe lifting, casting, maintenance equipment lifting from ships and the like. The ascent in demand can be credited to the product’s exclusive feature of operating even in severe weather conditions, in addition ensuring easy moving of heavy materials across the oil platforms.

Apparently, the new business line is all inclusive of an absolutely free service package, where Konecranes itself provides all the maintenance cost of the rented crane without any further investment from the customers. With this absolutely innovative program designed to offer maximum flexibility to the customers, Konecranes PLC seems to be on the path of empowering its stance in the overall crane market share. The RENTALL concept, reportedly, has been already rolling out at some parts of Canada and U.S., post the successful launch of the program in some of the Nordic countries like Singapore, U.K., and Australia.

Despite the appreciable growth prospect, high capital investment and maintenance cost associated with the equipment are perhaps two of the major challenges that crane industry players are presently dealing with. On the other hand, tremendous development in constructional activities across emerging nations is further scaling up the demand for high-end crane systems.  In the face of these two-contradictory situations, companies have been readily investing in automation of equipment, in a bid to comply with the international quality standards.

With profound technological interventions in product design ensuring accurate signal collection, rapid speed calculation, and high degree of safety, crane market is expected to witness a substantial momentum over the coming years.

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Data Tables

TABLE 1.    Crane industry 360⁰ synopsis, 2014 - 2025

TABLE 2.    Global crane industry, 2014 - 2017 (USD Million)

TABLE 3.    Global crane market, 2018 - 2025 (USD Million)

TABLE 4.    Global crane industry, 2014 - 2017 (Units)

TABLE 5.    Global crane industry, 2018 - 2025 (Units)

TABLE 6.    Global crane industry, by region, 2014 - 2017 (USD Million)

TABLE 7.    Global crane industry, by region, 2018 - 2025 (USD Million)

TABLE 8.    Global crane industry, by region, 2014 - 2017 (Units)

TABLE 9.    Global crane industry, by region, 2018 - 2025 (Units)

TABLE 10.    Global crane market, by product, 2014 - 2017 (USD Million)

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