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Crane Market | Industry Developments, Outlook, Current Trends by 2025

Author : Rahul Varpe | Published Date : 2020-09-09 

The crane market will garner substantial revenue growth owing to increasing investments in the construction sector. Over the years, the world has seen a steady rise in new private & public infrastructure construction activities. Factors like rapid growth in the urban sector coupled with increasing shift towards urban lifestyles is fueling the commencement of large-scale construction activities, in turn driving the demand for cranes.

Increasing developments across commercial & residential infrastructures along with growing development of complex structural designs could play a vital role in strengthening industry landscape. Besides, the remarkable features of cranes like improved efficiency, high payload carrying capacity and productivity might boost its adoption rate by construction companies, and other application industries.

Increasing imposition of federal regulations pertaining to site and worker safety could further support product demand. According to a new study, the crane market is likely to surpass USD 28 billion by the year 2025.

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However, the unavailability of trained & skilled operators in various regions could hinder the development of the crane industry. These machines require well-trained operators that can function these machines at rough & complex terrain project sites. In fact, if such operations are conducted by untrained recruits, these crane could lead to potential property damages or workplace fatalities.

In order to mitigate these issues, rental crane providers and manufacturers have begun offering certified & advanced operator training courses to numerous distributions & maintenance units. The Occupational Safety and Health Administration (OSHA) has also come forward to impose new mandates on crane operator certification.

Tower crane machines, amongst all fixed cranes, are termed as the most used cranes models due to its remarkable applications in constructing high rise structures. Regions like Europe and Asia are nowadays witnessing an increasing number of large-scale construction activities, which include the construction of multistory and heightened commercial & residential buildings. Growing prevalence of such activities could improve the adoption rate of high tower cranes.

Tower cranes are usually employed to transfer and lift heavy materials while building complex structures and tall towers. These machines can minimize the amount of labor needed for transferring heavy construction materials, further lowering overall labor costs.

As a result, several crane manufacturers are working on designing new tower crane models that possess high load lifting features. Taking April 2019 for instance, Comansa revealed its plan to release new and bigger flat-top tower cranes that could endure a maximum load capacity of 66 tons.

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Apart from Comansa, the crane market is being led by companies like Komatsu Ltd., Liebherr Group, Tadano Ltd., Sany Group, Manitowoc, XCMG Ltd., Effer S.pA., Kobelco Construction Machinery, and Terex Corporation. These companies are undertaking new business strategies to expand their regional presence. Manufacturers meanwhile are constantly seeking new partnerships and contracts with dealers to enhance their market presence.

 

 

About Author

Rahul Varpe

Rahul Varpe

Rahul Varpe currently writes for fractovia. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products online. Apart from being an avid reader, his other hobbies include music and sketching. [email protected] | https://twitter.com/varperahul

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