Crane Market Size - Industry Growth Report To 2026
Category: #business  By Rahul Varpe  Published: 15 hours ago
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Crane Market Size - Industry Growth Report To 2026

In the crane market, tower machines are utilized at a high rate due to their applications in building high rise structures across the globe. The construction of heightened and multistory residential & commercial buildings in the developing countries of Asia and Europe is supporting the high tower crane demand. These machines are used to lift & transfer heavy materials in constructing tall buildings and complex structures.

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Crane Market is expected to exceed USD 28 billion by 2025.

Various government regulations for worker and site safety are majorly driving the crane market product demand globally.

The Europe crane market is expected to develop rapidly due to the rising construction & demolition activities in the European countries. The growing popularity of urban infrastructure, smart buildings, and smart cities across the European Union are adding to the machinery demand. These machines are used at complex construction, mining, and industrial sites for lifting heavy loads, machinery parts, and bulky materials across the sites. Additionally, high labor cost in Europe and unavailability of site workers create the need for highly-efficient construction workers, further driving crane market growth.

The increasing construction spending and the emergence of new public & private infrastructures across the globe are driving the crane market growth at a rapid pace. High rise in urbanization activities and shift of the rural population to urban areas are adding to the demand for these machines.

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The industry players are involved in new product launches and integrating innovative safety & high payload capabilities. Additionally, the companies are also increasing their regional presence through contracts & partnerships with new dealers to gain a competitive advantage and increase machinery sales.

Recent developments in the residential & commercial infrastructures and construction of complex building structures across the globe support the industry expansion. Additionally, productivity, efficiency, and high payload features incorporated in the newly developed models are creating a high demand from contractors, construction companies, and application industries.

The crane market is hindered by the unavailability of skilled & trained operators in several regions. These machines require well-trained personnel for operating in complex & rough terrain work sites. Crane operations by untrained human labors may result in workplace fatalities and damage to properties. To overcome these issues, manufacturers and rental providers are offering advanced & certified operator training courses through distribution & maintenance facilities. Additionally, a new mandate imposed by the Occupational Safety and Health Administration (OSHA) related to crane operator certification is supporting increased training courses.

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The key players present in the global crane market are Liebherr Group, Komatsu Ltd., Sany Group, Tadano Ltd., XCMG Ltd., Manitowoc, Terex Corporation, Effer S.pA., and Kobelco Construction Machinery.

Moreover, these cranes reduce the amount of labor required in transferring heavy materials, further reducing labor costs. Manufacturers in the crane market are developing new models with high load lifting features. For instance, in April 2019, Comansa announced its plan to launch a new and larger flat top tower cranes with a maximum load capacity of 66 tonnes.

Related Reports: -

Tower Crane Market: https://www.prnewswire.com/news-releases/tower-cranes-market-by-lifting-capacity-product-design-and-application-2019-2025-gmi-300863520.html

Offshore Crane Market: https://www.globenewswire.com/news-release/2019/12/12/1959691/0/en/Offshore-Cranes-Market-to-hit-USD-5-Bn-revenue-by-2026-Global-Market-Insights-Inc.html

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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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