BROOKLYN, NEW YORK, USA, July 1, 2024 /EINPresswire.com/ — The latest report by IMARC Group, titled “Crane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032,” offers a comprehensive analysis of the global crane market report. The report also includes competitor and regional analysis, along with a breakdown of segments within the industry.
The global crane market size reached US$ 51.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 78.9 Billion by 2032, exhibiting a growth rate (CAGR) of 4% during 2024-2032.
Crane Market Trends:
The increasing demand for construction and infrastructure development is driving the global market. Technological advancements in crane design and functionality are enhancing operational efficiency and safety, attracting more investments. The rising trend of modular construction and prefabrication methods is also propelling the need for cranes. Moreover, the growing energy sector, particularly wind energy projects, necessitates the use of specialized cranes for turbine installation and maintenance.
Additionally, the expansion of the shipping and logistics industry requires efficient material handling solutions, further propelling crane demand. Furthermore, government initiatives and investments in public infrastructure projects, including roads, bridges, and ports, are significantly contributing to market growth. Besides, the adoption of rental services for cranes, offering cost-effective solutions for short-term projects, is gaining traction.
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Global Crane Market Scope & Growth Analysis:
The market scope is broadening due to the integration of advanced technologies such as IoT, AI, and machine learning in crane operations. The growing focus on sustainability and eco-friendly solutions is encouraging the development of electric and hybrid cranes, which are expected to see increased adoption. Additionally, the rising need for specialized cranes in niche markets such as offshore oil rigs and heavy industrial projects is supporting the market growth.
The expansion of smart cities and urban development projects globally is also contributing to the increased demand for cranes. Furthermore, the rise in refurbishment and upgradation projects of existing infrastructure is enhancing the market scope. The strategic partnerships and collaborations among key industry players for technological advancements and market expansion are notable factors broadening the market scope. The continuous advancements in crane safety features and regulatory compliance are ensuring market scope.
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/crane-market
Competitive Landscape with Key Players:
• Cargotec
• Konecranes
• Liebherr-International
• Manitowoc
• Terex
• XCMG Group
• American Crane and Equipment
• Badger Equipment
• Broderson
• IHI Construction Machinery
• Link-Belt Construction Equipment
• Kobelco Cranes
Key Market Segmentation:
Breakup by Product Type:
• Mobile Cranes
• Marine And Port Cranes
• Fixed Cranes
Breakup by Application:
• Construction And Infrastructure
• Mining
• Oil And Gas
• Others
Breakup by Region:
• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
• Market Performance
• Market Outlook
• Porter’s Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company’s expertise.
Elena Anderson
IMARC Services Private Limited
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