Global Tower Crane Market was valued US$ 3.80 Bn in 2017 and is expected to reach 6.20 Bn by 2026, at a CAGR of 6.31 % during a forecast period.
Tower cranes are fixed equipment used in lifting heavy components. It has the ability to lift nearly 20 tons, which is widely used for the construction of high rise building projects.
Rapid urbanization and increasing global population are one of the trends, which increase the demand for high-rise buildings. The increasing demand for high-rise buildings is one of the key factors driving the global tower crane market growth. With a global population explosion, the demand for high-rise buildings is increasing rapidly. Tower cranes are extensively used for construction, mainly in compact and closed spaces, predominantly high-rises owing to their operational efficiency. Furthermore, the lack of skilled manpower affects the speed, safety, and quality of construction projects and reluctance toward learning and operating upcoming technologies is projected to limit the global tower crane market growth during the forecast period.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding dynamics, structure by analysing the market segments by material, type, end-user and region and, project the global tower crane market. The report also provides a clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global tower crane market. The report also provides PEST analysis, PORTER’s analysis, SWOT analysis to address the question of shareholders in arranging the efforts and investment in the near future to a particular market segment.
Self-erecting tower cranes are precisely suited to construction sites, which are projected to complete in short duration, demanding frequent operations of transport, setting up, erection and dismantling. This crane is right for both, road and containerized transport. The assembly is quick and is carried out with simple and automated systems. Furthermore, Luffing jib tower cranes are particularly designed for urban use. They have outstanding reach, which needs little room for slewing motions, and a special benefit if many cranes are working at the same time on high-rise buildings and power plant sites.
Upcoming trends include in the global tower crane market is the increasing demand for fuel-efficient tower cranes with advanced systems will bode well. To exploit the prevailing opportunities, key players are coming up with more fuel-efficient and cost-effective tower cranes, which bid a high level of safety. As construction key players from across the world are inclined toward fuel-efficient equipment, which the global tower cranes market is suggestively growing. Against this backdrop, strict government policies expected at curbing carbon emissions are also projected to spur the demand for tower cranes during the forecast period.
The Asia Pacific is expected to share significant growth in the global tower crane market. Increasing investments in public infrastructure projects by countries like China and India are expected to make the need for tower cranes. Major policy rollouts like the Real in India, which can further the development of cities and towns are expected to spur market growth forecast period.
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Scope of the Report for Global Tower Crane Market
Global Tower Crane Market, By Product
- Self-erecting Tower Cranes
- Flat Top Tower Cranes
- Hammerhead Tower Cranes
- Luffing Jib Tower Cranes
Global Tower Crane Market, By Application
- Dam Building
- Bridge Building
- Shipyards
- Power Plants
- High Rise Buildings
Global Tower Crane Market, By End User
- Oil & Gas
- Construction
- Shipping & Port
Global Tower Crane Market, By Design
- Top Slewing Crane
- Bottom Slewing Crane
Global Tower Crane Market, by Capacity
- Up to 5 Tons
- 5 to 10 Tons
- 10 to 20 Tons
- 20 to 50 Tons
- Above 50 Tons
Global Tower Crane Market, By Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Key players
- Favelle Favco Berhad
- Terex
- Liebherr Group
- Manitowoc
- Zoomlion Heavy Industry Science & Technology
- Liebherr
- Manitowoc
- Wiibert
- Orlaco
- MTC Tower Cranes
- Terex
- Eurocrane
- Muhibbah
- Konecranes
- Wolffkran
- Potain
- ELECTROMECH
- Yongmao Construction Machinery
- Sichuan Construction Machinery
- Guangxi Construction Machinery
- China State Construction
- Oritcranes
- G.C. SpA
- Anupam Industries Limited
- XCMG
- SANY
- ZOOMLION
- Fangyuan Group
- Sanyang Construction Machinery
- Huaxia Group
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