Crane Market to Witness Robust Growth by 2026

The report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision making and growth strategy formulation based on the opportunities present in the market.

Crane Market is likely to witness a CAGR of 4.6% during the forecast period .

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Segment Analysis

Based on type, the market is segmented as mobile cranes and fixed cranes. The mobile cranes’ segment is expected to lead the market during the forecast period. The segment's growth is majorly due to the distinct features of mobile cranes, such as high travelling speed, high mobility, and the requirement for less time to set them up on construction sites.

Based on the operation type, the market is segmented as hydraulic, electric, and hybrid. The hybrid-powered cranes segment is expected to be one of the key demand generators for the crane market during the forecast period. They operate by using both hydraulic and electric power. The factors contributing to the growth of hybrid-powered cranes are their higher efficiency and their use in customized solutions.

Based on the industry type, the market is segmented as construction, shipping & material handling, automotive & railway, mining, aerospace & defense, energy & power, and others. Construction industry is expected to capture the majority of the share owing to the investments for construction in many developing markets. Earth-moving equipment is commonly used in construction for tasks such as lifting, digging, loading and unloading weight, and levelling.

In terms of regions, Asia-Pacific is estimated to be the leading region in the market on account of the growing opportunities for the construction industry, mainly driven by the rising population. Furthermore, the rapid growth of the automotive, construction, and aerospace & defense industries in the emerging economies, such as China and India, is also expected to drive the growth of the crane market in the region during the forecast period.

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Crane Market analysis report discusses the following heads in great detail:

·         Market structure: Overview, industry life cycle analysis, supply chain analysis

·         COVID-19 Impact Assessment

·         Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis

·         Market trend and forecast analysis

·         Market segment trend and forecast

·         Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.

·         Attractive market segments and associated growth opportunities

·         Emerging trends

·         Strategic growth opportunities for the existing and new players

·         Key success factors 

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