The cranes market is expected to be valued at USD 32.93 billion in 2017 and is projected to reach USD 44.70 billion by 2023, at a CAGR of 5.22% between 2017 and 2023.
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The hoists market is expected to be valued at USD 1.82 billion in 2017 and is projected to reach USD 2.65 billion by 2023, at a CAGR of 6.41% between 2017 and 2023. Key players operating in the crane and hoist market include Konecranes (Finland), Cargotec (Finland), Terex (US), Tadano (Japan), Liebherr (Switzerland), Ingersoll Rand (Ireland), Mammoet (Netherlands), ZPMC (China), Kito (Japan), XCMG (China), Manitowoc (US), Zoomlion (China), and Columbus McKinnon (US).
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The growth of the crane and hoist market is propelled by the increasing demand for construction machinery in the construction industry and in the mining industry for ore extraction. The increasing demand for lifting loads in the shipping industry and for material handling equipment in the aerospace & defense industry is a key opportunity for the players in the crane and hoist market.
Ship-to-shore (STS) cranes by fixed cranes to grow at the highest CAGR during the forecast period”
Based on fixed cranes, the market for ship-to-shore cranes is projected to grow at the highest CAGR between 2017 and 2023.Ship-to-shore (STS) cranes are the largest cranes used in marine and shipping industries. Ship-to-shore cranes are designed and constructed for the main function of loading and unloading containers from a container vessel.
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“The hoists market in Europe to grow at the highest CAGR during forecast period”
In the hoists market, Europe is projected to grow at the highest CAGR between 2017 and 2023. The demand from the automotive industry drives the hoists market in France.
Given the product competitiveness in the market, automotive manufacturers, component providers, and suppliers seek to gain a competitive edge by offering quality products.
This research report segments the crane and hoist market on the basis of type, operations, industry, and geography. Based on type, the cranes market has been segmented into mobile cranes and fixed cranes.
By operations, the cranes market has been classified into hydraulic, electric, and hybrid. Based on type, the hoists market has been segmented into wire rope, roller load chain, welded link load chain, and others.
On the basis of operations, the hoists market has been classified into pneumatic (air) power, electric power, and hydraulic power. Based on industry, the crane and hoist market has been classified into aerospace and defense, automotive & railway, mining, construction, marine, shipping & material handling, energy & power, and others.
Based on region, the market has been classified into North America, South America, Europe, APAC, and RoW.
Key Benefits of Buying the Report:
- Illustrative segmentation, analysis, and forecast for the market based on type, operations, industry, and geography have been conducted to offer an overall view of the crane and hoist market.
- The value chain analysis has been performed to provide an in-depth insight into the crane and hoist market.
- The report provides a detailed overview of major drivers, restraints, opportunities, and challenges influencing the growth of the crane and hoist market.
- The report also includes competitive landscape, along with in-depth analysis and revenues of key players.
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