Market Research Report
Global Tower Crane Market 2019-2025
|Published by||Orion Market Research Pvt Ltd||Product code||888690|
Delivery time: 2-3 business days
|Global Tower Crane Market 2019-2025|
|Published: June 27, 2019||Content info:||
Global Tower Crane Market Size, Share & Trends Analysis Report by Type (Luffing Jib, Flat-Top, Hammerhead, Self-Erecting, and Others), by Design Type (Bottom Slewing Crane and Top Slewing Crane), and by Application (Commercial, Infrastructural, and Residential), and Forecast, 2019-2025
Tower crane is considered as a centerpiece equipment in construction industry. Increasing development in infrastructure such as the residential and commercial buildings is a key factor fueling the growth of the global tower crane market. Rapid urbanization and increase in the global population have increased the construction of high-rise buildings, which in turn, have fueled the demand for tower cranes. Furthermore, the industrial refurbishment projects and the expansion of mega cities will positively affect the growth of the global tower crane market. However, the tower crane requires skilled labor for its operation; a therefore, the contracting organization trains labor, which in turn, increases the cost of operation, owing to which, the contractors prefer other machines than the tower cranes for the construction process. This factor restraints the growth of the global tower crane market.
The global tower cranes market is segmented on the basis of the type, design type, and application. On the basis of type, the market is classified into luffing jib, flat-top, hammerhead, self-erecting, and others. Based on design type, the market is bifurcated into a bottom slewing crane and top slewing crane. On the basis of application, the market is segmented into the commercial, infrastructural, and residential. Among design type, the top slewing cranes contributes a significant share in the market due to its higher suitability for both medium and high-rise projects. Moreover, the top slewing cranes have prolonged life, which further increases its preferences over other lifting machines in the market.
In terms of geography, the global tower crane market is analyzed for North America, Europe, Asia-Pacific, and Rest of the World. There are tremendous growth opportunities for tower crane market in Asia-Pacific due to the rapid urbanization in the emerging economies of the region, especially in China and India. In Asia-Pacific, China holds a significant share, in terms of revenue, in the tower crane market. Increase in the Foreign development investment in countries such as India is expected to create growth opportunities for the tower cranes market.
The key players operating in the global tower crane market includes Terex Corp., XCMG Group, Manitowoc Co., Inc., Fangyuan Group Co. Ltd., Nornico Group, Liebherr-International Deutschland GmbH, and Weihai Guheng Building Machinery Co., Ltd. In order to improve the customer base, the key players of the tower crane market are majorly looking towards the products launching and partnership and collaboration activities. For instance, in January 2019, Manitowoc Co., Inc. announced the launch of six new crane machine and lifting technology at bauma.
The market study of the global tower crane market is incorporated by extensive primary and secondary research conducted by the research team. Secondary research has been conducted to refine the available data to breakdown the market in various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity of our reports.
The report is intended for tower crane service providers, enterprises, government organization, and others, provide sector for overall market analysis and competitive analysis. The report provides an in-depth analysis of the market size and growth opportunities. The report will serve as a source for 360-degree analysis of the market thoroughly delivering insights into the market for better business decisions.