Key players Liebherr, Cargotec, Terex, XCMG, Zoomlion, Konecranes, Manitowoc, APMC, Tadano, and Sany
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Global Crane Market Forecast 2017-2025 has been organized based on an in-depth market analysis with help of industry experts. The Global Cranes Market is poised to grow during the forecast period of 2017 to 2025.
Various reasons for the growth of the cranes market are higher demand from construction and infrastructure industry, the growth of economies in developing nations, construction of smart cities and mega cities and technological innovations which have resulted in lighter and more energy efficient cranes.
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The major market players for cranes are Liebherr, Cargotec, Terex, XCMG, Zoomlion, Konecranes, Manitowoc, APMC, Tadano, and Sany. Established companies have a good hold on the cranes market due to the high cost of investment needed to enter and sustain in the market.
Companies are forming alliances and are going for mergers and acquisitions to strengthen their market position. Organizations are investing in research and development to come up with novel and innovative products that will capture new market share.
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Cranes market is segmented on the basis of geography, type, and end user. On the basis of the type, it can be segmented into mobile cranes, fixed cranes and marine and port cranes.
Marine port cranes are further classified into the mobile harbor, gantry, offshore and ship cranes. Fixed cranes are segmented into monorail and underhung cranes, overhead track-mounted cranes, tower cranes and stiff-leg derrick.
Mobile cranes are classified into wheeled mounted mobile cranes, commercial truck-mounted cranes, crawler cranes, side boom, straddle cranes, railroad cranes, aerial cranes and others. End user market segmented into cranes can be construction, infrastructure, shipyards, automotive, excavation and mining and others.
Market drivers for cranes are the growth of economies in developing nation, rejuvenation of construction industry in developed nations with improving fiscal scenario, rapid urbanization, development of megacities and smart cities and technological advancements which have led to the creation of energy efficient, compact and lighter cranes.
Market regions that are covered in the report are North America, Europe, Asia-Pacific, and RoW. North America follows the Asia-Pacific region, followed by Europe.
It is expected that the growth rate will decrease in these regions in the forecast period due to slower construction rate and hence lower demand for cranes.
The Asia-Pacific market is expected to report very good growth in the forecast period due to increasing demand for cranes and has the largest market share of the cranes market. Creation of megacities and smart cities, infrastructure renewal, globalization, and urbanization will all boost the market growth.
The biggest market for cranes is China and India due to the construction industry and large infrastructure sector. Mobile cranes will have the largest market share in the coming year with the expected increase in construction activity.
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