Global Tower Crane Market was valued at US$ 3.80 Bn in 2019 and is expected to reach 6.20 Bn by 2027, at a CAGR of 6.31% during a forecast period.
The report includes an analysis of the impact of COVID-19 lockdown on the revenue of market leaders, followers, and disruptors. Since the lockdown was implemented differently in various regions and countries; the impact of the same is also seen differently by regions and segments. The report has covered the current short-term and long-term impact on the market, and it would help the decision-makers to prepare the outline and strategies for companies by region.Global Tower Crane Market
To know about the Research Methodology:-Request Free Sample ReportGlobal Tower Crane Market Dynamics
Tower cranes are fixed equipment used for 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 some 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.Segment Analysis of the Global Tower Crane Market
Self-erecting tower cranes are precisely suited for construction sites, which are projected to complete in a 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 an 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.
The upcoming trend included in the global tower crane market is the increasing demand for fuel-efficient tower cranes with advanced systems. To exploit the prevailing opportunities, key players are coming up with more fuel-efficient and cost-effective tower cranes, which bid for 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.Regional Insights of the Global Tower Crane Market
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 the market growth 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 analyzing the market segments by material, type, end-user, and region and, projects 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.Global Tower Crane Market, Key Highlights:
• Global Tower Crane Market analysis and forecast, in terms of value.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Tower Crane Market
• Global Tower Crane Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
• Global Tower Crane Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
• Global Tower Crane Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Tower Crane Market are also profiled.
The report has considered the base year of 2019 and past four years trend. 2020 figures are at actuals, however due to different dynamics of year 2020, market forecast is not only dependent upon 2020, but on the basis of 2016-2020.Scope of the Global Tower Crane Market: Inquire before buying
Global Tower Crane Market, by Product
• Self-erecting Tower Cranes• Flat Top Tower Cranes• Hammerhead Tower Cranes• Luffing Jib Tower CranesGlobal Tower Crane Market, by Application
• Dam Building• Bridge Building• Shipyards• Power Plants• High Rise BuildingsGlobal Tower Crane Market, by End-User
• Oil & Gas• Construction• Shipping & PortGlobal Tower Crane Market, by Design
• Top Slewing Crane• Bottom Slewing CraneGlobal Tower Crane Market, by Capacity
• Up to 5 Tons• 5 to 10 Tons• 10 to 20 Tons• 20 to 50 Tons• Above 50 TonsGlobal Tower Crane Market, by Geography
• North America• Europe• Asia Pacific• Middle East & Africa• South AmericaGlobal Tower Crane Market Key Player
• 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
About This Report
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