Global Tower Cranes Market Report Forecasts Healthy Growth by 2022

Posted by Market Research Future on May 18th, 2018

Market Research Future published a half-cooked research report on GlobalTower Crane Market that contains the information from 2017 to 2023. Global tower crane market is expected to grow with the CAGR of approximately 4.4% from 2017 to 2023.

Taste the market data and market information presented through more than 85 market data tables and figures spread in 140 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “Global Tower Crane Market Information from 2017 to 2023"

A crane is primarily used for lifting heavy loads and transporting them to other places. The tower crane is the type of fixed crane. These cranes are operated from a fixed place and are used to carry heavy loads. Tower Cranes are principally used in civil engineering construction works and in heavy equipment manufacturing for material handling. Growing construction sector, across the globe is driving the growth of the market. Additionally, technological innovation in crane models, also have a positive impact on the growth of the market. However, the high maintenance cost and high initial investment, may hamper the growth of the market.

Based on applications, the market has been segmented as oil & gas, construction, shipping & port and others. Construction segment accounted for the largest market share. Oil & gas sector is expected to contribute significantly during the forecast period. Cranes are used in oil & gas sector for loading and unloading of articles such as drill pipes, and containers.

Hence, global tower cranes market is expected to grow at a CAGR of 4.4% during the forecast period.

Asia Pacific region dominates the global Tower Crane market Geographically, the global tower crane market has been divided into four major regions, of North America, Europe, Asia Pacific and Rest of the World. Asia Pacific, of all the regions, has accounted for the largest market share, in 2016, followed by Europe and North America. Asia Pacific is expected to grow at the highest CAGR during the forecast period. Increase in construction activities in countries such as China, Japan, India, and Indonesia in Asia Pacific region, is majorly fuels the growth of the market. Additionally, increase in industrialization, rising urbanized population, and growth in spending capacity are the factors pouring the growth in the market in Asia Pacific region. China is one of the leading markets in the Asia Pacific region. The Chinese Government issued several favorable policies for lowering the proportion of down payment for second house loans and exempting of sales tax for ordinary housing. This helped the recovery of commercial housing market. This will have a positive influence on the growth of the market.

Ask for your specific company profile and country level customization on reports.Liebherr Group (Switzerland), The Manitowoc Company, Inc. (U.S.), Terex Corporation (U.S.), Action Construction Equipment Ltd (India), ABUS Kransysteme GmbH (Germany), Shandong Dahan Construction Machinery Co.,Ltd (China), Zoomlion Heavy Industry Science&Technology Co., Ltd. (China), Manitex International Inc. (U.S.), Sany Group  (China), Wolffkran Inc. (U.S.), Morrow Equipment Company (U.S.), Krøll Cranes A/S  (Denmark)

This research report provides insights, on various levels of analysis such as industry analysis, and market share analysis for the leading players along with their profiles. It also helps in studying the target segments by providing views on emerging & high-growth segments. The market data comprises the basic assessment of the competitive scenarios & strategies in the global construction lift market, including high-growth regions and/or countries, and political, & economic environments. The project report, further, provides views on both the historical market values and pricing & cost analysis.

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