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Tower Crane Market 2019 – 2025 | Global Industry Trends, Statistics and Competition Strategies

Author : Rahul Varpe | Published Date : 2019-10-03 

The Global Tower Crane Market 2025 Research Report is a professional and in-depth study on the current state of the Tower Crane. Development policies and plans are discussed as well as manufacturing processes and cost structures. This report also states import/export, supply and   figures as well as cost, price, revenue and gross margin by regions North America, Europe, Asia-Pacific, Middle East and Africa and other regions can be added.

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North America Tower crane market is developing at a rapid pace due to several ongoing & upcoming infrastructure development projects in the region. The utilization of technically advanced machines across various industries, including utility, mining, etc., in the U.S. is adding up to the demand for these machines. Furthermore, high government & private investments in construction & infrastructure transformation activities are supporting industry growth. The U.S. is witnessing the emergence of several local & international rental providers, which have partnered with manufacturers to offer heavy-weight lifting machines.

Tower Crane Market is expected to exceed USD 5.5 billion by 2025. The growing requirement of heavy material handling & lifting operations across various industry verticals is supporting the demand for tower cranes. Construction of high-rise & multi-storey buildings globally to cater to the increasing population & urbanization trend is a major factor driving the industry growth. These machines facilitate easy & fast operations and provide high operational efficiency in construction projects.

Tower Crane Market, by Product:

  1. Flat top
  2. Hammerhead
  3. Luffing jib
  4. Self-erecting

Tower Crane Market, by Application:

  1. Rental
  2. Construction
  3. Mining
  4. Shipyards
  5. Utility

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In the tower crane market, rental applications are growing rapidly due to the availability of technically advanced and low-priced machines across the globe. The industry is witnessing the emergence of several rental providers owing to the rising demand from construction & utility sectors globally. Increased focus on reducing the carbon footprint & pollution from general to complex construction activities in several countries is creating the need for new machines in the industry. Rental products are majorly deployed in government & general infrastructure projects by contractors due to a limited machine fleet owned by them. Equipment users are shifting towards rental options to save transportation & machine maintenance costs, further adding up to the tower crane industry expansion.

Bottom slewing models are gaining popularity in the tower crane market due to increasing demand for automated & digitally advanced equipment in construction and material handling sectors. These machines offer high productivity and can be easily erected & dismantled, further reducing operational costs for contractors. Self-erecting models experience utilization in low-rise construction activities and short-term projects owing to faster installation features. Additionally, the rising popularity of various equipment to replace traditional manual options and gain more efficiency is supporting the tower crane industry growth.

Advanced operator safety & comfort features integrated into new machines add up to the benefits over conventional & bulky cranes. High equipment cost is a factor restraining the tower crane market due to high prices set up by manufacturers across the globe.

Prominent players present in the tower crane market include Terex Corporation, Manitowoc, XCMG Group, Liebherr Group, etc. These companies are working on the development of technically equipped & low-emission machines to address the demand from various application verticals. Manufacturers are competing due to high pricing pressure and are focused on offering new technologies at reasonable prices. Owing to the high demand from rental vertical, manufacturers are partnering with the rental providers globally & developing products depending on customers' demands, further developing the tower crane industry.

Related News: https://www.marketwatch.com/press-release/agriculture-equipment-market-revenue-statistics-and-trend-analysis-to-2024-agco-corporation-jcb-kubota-cnh-industrial-mahindra-tractors-are-top-manufacturers-2019-10-03

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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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. He can be contacted at- [email protected] | https://twitter.com/varperahul

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