Government Initiatives towards Construction Projects is Surging the Growth of Crane Market - Arizton

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Nov 18, 2021, 12:44 ET

CHICAGO, Nov. 18, 2021 /PRNewswire/ -- Incorporation of intelligent systems, driven by IoT and data analysis for service, networking and sustainability, the crane market is transitioning to become a more innovative industry. In terms of end-users, the construction industry to generate the highest demand for cranes and is anticipated to further dominate the market during the forecast period. Observing these rapid and drastic changes in demand and supply patterns encouraged the industry analysts at Arizton to publish exhaustive and data-driven insights on these recent trends in the industry machinery.

1. France Crane Market - Strategic Assessment & Forecast 2021-2027

France crane market size will be valued at USD 1.5 billion and to reach a volume of 5566 units by 2027, growing at a CAGR of 3.67% by volume during 2021-2027. In France, the rental business is growing rapidly. With most OEMs offering rental services in this space, and the rental equipment market in France is dominated by unorganized players. The construction of the Grand Paris is boosting the development of new projects in the region. This is driving demand for tower cranes as they are commonly used to build tall structures such as skyscrapers across the country. The crane market in France is expected to show an incremental growth of 1170 units between 2020 and 2027. France offers inexpensive startup and operating expenses when compared with other countries such as Germany, Italy, the US, and Japan.

Key Highlights:

Several proposals to develop and modernize major airports in France, with an estimated expenditure of USD 1.3 billion, which in turn is expected to boost the crane market.
The demand for mobile cranes is largely driven to address high-end works for urban and infrastructure development. The mobile crane market in France by value is expected to reach USD 502 million by 2027.
The civil engineering sector in France is continually developing. The market is being boosted by the Greater Paris initiative. The construction crane market in France is expected growing at a CAGR of 3.82%.
Truck-mounted cranes are a type of mobile crane made of a boom mounted to a truck bed and are, therefore, road legal. The truck-mounted crane market in France is expected to reach USD 62.3 million by 2027.

Get more insights: https://www.arizton.com/market-reports/france-crane-market-opportunities-assessment-forecast

2. United Kingdom Crane Market - Strategic Assessment & Forecast 2021-2027

United Kingdom crane market size will be valued at USD 1329 million and to reach a volume of 5731 units by 2027. An investment of USD 223 million is planned to upgrade the country's port. In 2021, the UK government announced investments of USD 132 million in the construction of two offshore wind ports. Thereby, creating heavy demand in the UK crane market. The UK government planned infrastructure development projects, including Northern Ireland, where the demand for rough terrain cranes can increase due to mountain areas. The rough terrain cranes market in the UK is expected to reach USD 71 million by 2027. The government investment in healthcare development projects will drive the construction industry. The government initiative towards clean energy projects to become carbon neutral by 2050 is surging the growth of the crane market.

Key Highlights:

The government wants to achieve the target of building 300,000 houses in a year as the government must speed up construction activities.
Increasing urban infrastructure development and growth in demand for oil & gas industries after the pandemic are further expected to propel the demand for cranes in the UK.
The UK is one of leading vehicle exporters in Europe and manufacturing accounted for 17.8% of the GDP of the country in 2020.
Along with this, the government announced USD 1 billion for upgrading its facilities in the existing 20 hospitals. This construction plan is expected to increase the demand for mobile and overhead cranes in the UK.

Get more insights: https://www.arizton.com/market-reports/united-kingdom-crane-market-opportunities-assessment-forecast

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Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.   

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SOURCE Arizton Advisory & Intelligence