Rough Terrain Crane Market Players Contribute Majorly towards Innovative Trends

Posted by Arslan on July 10th, 2019

In order to dissert the market scenario prevailing across the rough terrain crane market sector, Fact.MR has evenly presented a comprehensive rough terrain crane market analysis to its extensive online repository. With all vital market facets enclosed into this single assessment, readers can learn about different market drivers, opportunities and trends which are likely to influence the overall market space for the rough terrain crane market in the coming years. In addition, factors such as market size, Y-o-Y growth and revenue share are investigated so as to make this research highly authentic and reliable.

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Rough Terrain Crane Marketplace Concentrated among Tier 1 and Tier 2 Players

Tier 1 players in the rough terrain crane marketplace occupy 44%-53% share of the rough terrain (RT) crane market. Considering the nature of the equipment, the hegemony of prominent players in rough terrain crane market is likely to prevail. Further, the intensive cost and heavy capital investments in the equipment landscape make entry of new players difficult in the rough terrain cranes market. Tier 2 players hold 25%-35% share of the rough terrain crane market and are trying to increase market shares by increasing production capacity and strengthening dealership network.

M&A, Partnerships and Product Introductions - Pervasive Strategies of Rough Terrain Crane Vendors Ensure Market Sustenance

In a bid to meet the evolving demand from end-use industries, the rough terrain crane market manufacturers are engaged in strategic business developments to win over market competition.

• In January 2018, SANY America Heavy Port Machinery announced a strategic partnership with Equipment Depot as its primary distribution partner in America heavy duty equipment market.
• In June 2018, Manitowoc, a leading provider of rough terrain cranes unveiled a new line of rough terrain crane- Grove GRT9165 which has multiple features and low cost of ownership.
• In July 2018, TNT Cranes & Rigging, Inc., one of the premium provider of cranes in North America completed merger with Allison Crane & Rigging. The merger is aimed at strengthening crane offerings and market position.
• In August 2018, Cropac Equipment, a distributor of Terex cranes in Atlantic Canada announced the expansion of the Terex cranes offerings with the introduction of new models in the dealership network.
• In the second quarter of 2018, Manitex, an American provider of cranes and lifting equipment announced a strategic partnership with Tadano, a leading Japanese crane manufacturer. Tadano’s acquisition of about 15% share of Manitex will allow Manitex to access Tadano’s distribution network and accelerate company growth.
• In 2017, Liebherr re-entered the rough terrain crane market by introducing a 100- tonnes capacity LRT 1090-2.1 rough terrain crane in the U.S. market.

Rough Terrain Crane Rental Service Landscape Upgrades with New Fleet Introduction

Between renting and owning, end-users of rough terrain cranes show a greater propensity for rental services owing to the cost-intensive nature of the product. Further, construction activities majorly require temporary equipment solutions wherein rough terrain cranes are utilized for loading and unloading of different load capacities. Consistent entry of new competitors, increasing the cost of new rough terrain cranes and operating costs continue to challenge rental service providers to optimize rental rates in the rough terrain crane market.

Well aware of the steady demand for cranes and opportunities in the rental services landscape, rental stakeholders are improving their services by adopting new ways such as the introduction of new and efficient fleet and replacing or upgrading some of the older equipment. For instance, Maxim Crane Works L.P., the largest crane rental company in North America introduced three new Liebherr all-terrain cranes including two LTM 1500-8.1 and one LTM 1450-8.1 in September 2018.

Rough terrain cranes find significant application in non-residential infrastructure, energy sector and government projects. Oil & gas industry is the prominent end-user of the rough terrain cranes wherein construction industry also presents substantial demand. For instance, on the construction site of the international research project of ITER, Terex RT 90 rough terrain crane has been playing a significant role from past two and a half years for the generation of electricity from fusion energy with no downtime.