Industry News

The Construction Equipment market has experienced several pits and falls in the past decade due to global economic recession. Crane market forms an integral part of the Construction Equipment market and has co-witnessed the market falls. There are broadly three types of cranes: mobile cranes, marine, and port cranes and fixed cranes. Cranes can be categorized as per their load lifting capacity, lift height, and outreach. The Global Crane market is currently undergoing a radical change, fuelled by the growth of emerging economies, exponential growth of the infrastructure industry, and drive toward greater energy efficiency.

This report covers the present situation and the growth prospects of the Global Crane market for the period 2014-2018. The report covers the revenue generated through sales of cranes across all geographies. It presents the vendor landscape and a corresponding detailed analysis of the top six vendors in the market. In addition, it discusses the major drivers that influence the growth of the Global.

Commenting on the report, an analyst from the team said: “The growth of the Global Crane market lies behind the increase in technological innovation worldwide. Several manufacturers are developing technologically advanced cranes that have better control systems and are more efficient. For instance, some manufacturers are developing cranes that are equipped with an electrical VFD system. This system has the capability to control the rotational speed of an alternating current motor”

According to the report, the Global Crane market is driven by several factors, including the growth in the emerging economies. The growth in the emerging markets, especially China has been vigorous, which was primarily because of the ongoing industrialization, rising labor costs, and global trade activity. China's massive fiscal stimulus packages in the recent years make it a leader in the emerging markets.

Further, the report states that despite the presence of several market challenges, growth in the Global Crane market is encouraging because of certain trends. Increased efforts toward the development of next-generation cranes can be observed. Several vendors are developing technologically advanced cranes that have better control systems and are more efficient.

The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.