A crane is a machine equipped with wires, chains, or ropes to lift and lower materials or displace materials that are heavy and beyond human capacity. Cranes comes in a variety of sizes and are utilized in industries such as construction, mining, and marine.

Increased investment in infrastructure, post the 2008 recession, is driving the global crane market. Increased high rise construction activity in metropolitan cities is fuelling the demand for cranes. The Trump administration plans to invest US$ 1.7 trillion in the next 10 years to rebuild infrastructure in the U.S., which in turn is projected to boost the demand for cranes in the country. Development of green energy projects such as hydroelectric dams and windmills has necessitated the usage of cranes for energy sector. The trade reforms among BRICS countries are fueling infrastructure development, and the formation of the New Development Bank to issue loans for projects reflects the emphasis on construction. Increased container traffic and formation of free-trade agreements are driving the demand for cranes that are employed on ports. Maritime cranes form an integral part of harbor management, and an increase in trade is estimated to boost the demand for cranes, globally.

High investment required for cranes is a factor that restrains the global crane market. Demand of cranes depends on the performance of primary industries such as construction, mining, and maritime. Therefore, sluggish expansion of these primary industries is likely to hamper the demand for cranes.

The global crane market can be segmented based on mode of operation, product type, industry application, and region. Based on mode of operation, the global crane market can be segmented into three segments. IC engine is the leading segment, as it is a traditional mode of operation and is capable of powerful operations. Utilization of industrial cranes for relatively light weight has led to the development of cranes powered by electric motors. Electric cranes do not produce emission; and hence, are convenient for indoor applications.

In terms of product, the global crane market can be classified into mobile cranes, fixed cranes, and marine cranes. Mobile cranes are used in construction projects, as they are self-propelled and can be transported to difficult-to-reach terrains. The mobile crane segment is further classified into eight sub-segments. Truck carrier, aerial crane, and crawler crane are some sub-segments. Fixed cranes have the ability to lift heavy loads, as are more stability. Fixed cranes are employed in manufacturing plants and large construction projects in order to hoist heavy loads. The fixed crane segment is further classified into five sub-segments. Tower crane and level luffing crane are some sub-segments.

In terms of application industry, the global crane market can be segregated into construction, maritime, mining, oil & gas, industrial, and others.

Based on region, the global crane market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is projected to dominate the global crane market owing to increased construction activity in China & India. Re-construction activity in North America & Europe is estimated boost the crane market in these regions at a steady pace. GCC sub-region of Middle East & Africa has witnessed a rapid expansion of construction projects. This, in turn, is estimated to boost the crane market in Middle East & Africa in the near future.

Key players operating in the global crane market include Liebherr Group, Cargotec, Konecranes, Mammoet, Altech Industries, Terex Corporation, Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd., Kato Works Co., Ltd., Columbus McKinnon, ZPMC, Ingersoll Rand, Zoomlion Heavy Industries Science and Technology Co., Ltd., and Sany Heavy Industry Co., Ltd.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

With a robust experience in creating exceptional market reports, Transparency Market Research has emerged as one of the trusted market research companies among a large number of stakeholders and CXOs. Every report at Transparency Market Research goes through rigorous research activity in every aspect. The researchers at TMR keep a close watch on the market and extract beneficial growth-boosting points. These points help the stakeholders to strategize their business plans accordingly.

TMR researchers conduct exhaustive qualitative and quantitative research. This research involves taking inputs from the experts in the market, focused attention on recent developments, and others. This method of research makes TMR stand out from other market research firms.

Here's how Transparency Market Research helps the stakeholders and CXOs through the reports:

Inculcation and Evaluation of Strategic Collaborations: The TMR researchers analyze recent strategic activities like mergers, acquisitions, partnerships, collaborations, and joint ventures. All the information is compiled and included in the report.

Perfect Market Size Estimations: The report analyzes the demographics, growth potential, and capability of the market through the forecast period. This factor leads to the estimation of the market size and also provides an outline about how the market will retrieve growth during the assessment period.

Investment Research: The report focuses on the ongoing and upcoming investment opportunities across a particular market. These developments make the stakeholders aware of the current investment scenario across the market.

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Crane Market

Pre Book