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Crane Load Testing Market

Crane Load Testing Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2021-2031

Crane Load Testing: Introduction

  • Crane is a type of construction machine that is used to move loads horizontally/vertically. It consists of a hoist rope, cable ropes, and sheaves, which are utilized to lift heavy loads or transport them from one place to another.
  • Cranes are used for heavy construction work and for all types of lifting tasks. Cranes consist of pulleys and cables. Based on the working of fundamental mechanical principles, cranes are used for lifting and lowering loads. Crane design has evolved to meet the requirements of a wide variety of industrial needs. Modern cranes with simple mechanical systems are capable of complex lifting jobs – sometimes in harsh environments that could be dangerous for human workers.
  • According to requirements specified by Occupational Safety and Health Administration (OSHA) agency, all types of active cranes must be tested on a yearly basis, as frequent usage of cranes wears out safety-critical crane components such as boom, jib, rotex gear, outriggers, counterweights, and reinforced-steel cables hooks. Worn parts may result in the crane becoming inoperable or even failing dangerously, putting human life at risk. Regular crane inspections ensure proper working of active cranes. Potential issues can also be discovered.
  • Increase in rate of construction activities boosts the usage of cranes. This is anticipated to drive the crane load testing market in the near future.

Key Drivers and Restraints of Crane Load Testing Market

  • The global construction industry is expanding at a significant pace. According to Oxford Economics, the global construction industry is estimated to reach US$ 5.8 Trn by 2030.
  • According to the Commerce Department of the U.S., construction spending in the U.S. has increased by 0.9% y/y to US$1.459 Trn in 2020 since 2002. Rise in construction spending was driven by an increase in investment in single-family homebuilding and a pandemic-driven migration to suburbs and low-density areas.
  • Rapid urbanization in developing countries such as China and India is likely to drive the overall construction output in these countries in the near future
  • The construction industry in India is expected to expand at a CAGR of 15.7% to reach US$ 738.5 Bn by 2022. It contributes 55% share in the steel industry, 15% in the paint industry, and 30% in the glass industry.
  • Thus, growth in construction industry is anticipated to boost the usage of different types of cranes for ensuring rapid working and maintaining human safety. Thus, rise in usage of cranes is likely to fuel its maintenance activities, thus augmenting the crane load testing market in near future.

COVID-19 Impact Analysis on Construction Industry

  • Governments of several countries across the globe have imposed stringent lockdowns to limit the spread of the coronavirus. Movement of individuals and economic activities, related to goods and services, have come to a halt because of lockdowns. In order to limit the spread of the disease, many construction firms temporarily halted their projects. As a result, these firms are facing liquidity crunch. The liquidity crunch has forced companies to put major construction projects on hold. This is hampering the global crane load testing market.

Crane Load Testing Market Segmentation

  • The global crane load testing market can be segmented based on type of crane, type of test weights, and end-user industry
  • In terms of type of crane, the global crane load testing market can be segregated into mobile cranes, fixed cranes, marine cranes, and others
  • In terms of type of test weights, the global crane load testing market can be classified into stackable steel or cast iron crane test weights, water-filled weight bag test weights, concrete load test weights, sandbag load test weights, and water tank load test weights
  • In terms of end-user industry, the global crane load testing market can be classified into construction, industrial, marine, and others

Crane Load Testing Market: Regional Segmentation

  • In terms of region, the global crane load testing market can be split into Middle East & Africa, Latin America, Asia Pacific, Europe, and North America
  • Asia Pacific region is likely to lead the global crane load testing market during the forecast period. It is anticipated to be followed by North America and Europe. Asia Pacific has the fastest growing construction industry across the globe. The market in Asia Pacific is anticipated to expand at a rapid pace due to rapid growth in industrialization and urbanization; rise in standard of living; and increase in disposable income of people, especially in China and India.
  • The construction industry in North America is expected to expand at a healthy pace, especially in the U.S. This is expected to be the key driver of the crane load testing market in the region in the near future.
  • Latin America and Middle East & Africa are projected to hold minimal share of the global crane load testing market during the forecast period. However, the market in these regions is likely to expand at a substantial pace during the forecast period.

Key Players Operating in Global Market

  • Plant and Safety Ltd
  • SafeTmade Europe BV
  • VFR Safety GmbH
  • Unique Group
  • Hydro-Wates
  • Lloyds british international
  • HEBO Maritiemservice.
  • Hoist UK
  • SYM Naval
  • Allriggroup
  • Hidramar Group
  • TÜV Rheinland

Global Crane Load Testing Market: Research Scope

Global Crane Load Testing Market, by Type of Crane

  • Mobile Cranes
  • Fixed Cranes
  • Marine Cranes
  • Others

Global Crane Load Testing Market, by Type of Test Weights

  • Stackable Steel or Cast Iron Crane Test Weights
  • Water-filled Weight Bag Load Test Weights
  • Concrete Load Test Weights
  • Sandbag Load Test Weights
  • Water Tank Load Test Weights

Global Crane Load Testing Market, by End-user Industry

  • Construction
  • Industrial
  • Marine
  • Others

Global Crane Load Testing Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Russia & CIS
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa
Crane Load Testing Market

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