Rental Services are Gaining Popularity in the Crane Market - Arizton

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Nov 30, 2021, 09:00 ET

CHICAGO, Nov. 30, 2021 /PRNewswire/ -- The increasing demand for cranes is attributed to investments by favorable government policies and foreign multinationals are doubling down on their investments, upcoming industrial developments in the construction industries, and government initiatives. Construction industry is gaining traction in the global crane market by creating growth opportunities for the vendors. However, rental services are also gaining popularity in the crane market worldwide. Arizton's research reports on the industrial machinery offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market insights. 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.

Here's a sneak peek of the trendiest reports: 

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

Japan crane market size will be valued at USD 20.4 billion and to reach volume of 11187 units by 2027, growing at a CAGR of 3.25% by volume during 2021-2027. The demand for the latest technologies in construction equipment is rising for increasing productivity and reducing the dependency on laborers, which is expected to fuel the demand for smart cranes in Japan. The rising demand for iodine, steel, and iron in the Japanese market will drive the growth of the mining industry. Thereby, it will be the driving force for the Overhead and Gantry cranes in the market. In 2020, cranes used in the construction industry accounted for the largest share of around 48.5%, followed by the manufacturing industry 21.6%.

Key Insights!

The mobile crane segment accounted for the highest share of 53% due to their growing popularity in 2020.
The demand for mobile cranes is largely driven to address high-end urban and infrastructure development. The mobile crane market in Japan is expected to reach USD 9,465.5 million by 2027.
The Japanese government is investing in transport infrastructure development projects. The investment is made for fast and smooth transportation network.
Tadano is focusing on technology and quality innovations by creating a global R&D cooperation network and opening R&D centers, which in turn, is creating growth opportunities for the vendors in the Japan crane market.

Get More Information - https://www.arizton.com/market-reports/japan-crane-market-opportunities-assessment-forecast

2. India Crane Market - Strategic Assessment & Forecast 2021-2027

India crane market size will be valued at USD 1.3 billion and to reach a volume of 15,665 units by 2027, growing at a CAGR of 5.56% by volume during the forecast period. The Indian government plans to invest in west-to-east land border from Gujarat to Mizoram. It will also link to a road network in coastal states from West Bengal to Maharashtra. The project is estimated to cost around ~USD 1.6 billion, this in turn, will increase the demand for crane market in the country. Mobile cranes accounted for the largest share of the construction equipment rental market that is supported by major rental companies that hold the highest share of mobile crane rental. The high demand for new cranes ensues from rental companies, primarily due to the latest technological adoptions and complex infrastructure project executions.

Key Insights!

In India, rental operators are largely investing in technologically innovative and environment-friendly cranes to grow their fleet sizes and meet customer demand.
The <20 tons crane-lifting capacity market in India is expected to reach USD 548.8 million by 2027, growing at a CAGR of 5.55%.
One of the major vendors ACE is increasing penetration of 30-ton, 35-ton, and 45-ton cranes with aerial work platforms for utility, telecom, and wind construction/maintenance, which is creating buzz in the Indian market.
The crane market in India is expected to show an incremental growth of 5,027 units between 2020 and 2027.

Get More Information – https://www.arizton.com/market-reports/india-crane-market-opportunities-assessment-forecast

3. China Crane Market - Strategic Assessment & Forecast 2021-2027

China crane market size will be valued at USD 245 billion and to reach a volume of 2,00,170 units by 2027, growing at a CAGR of 3.21% by volume during 2021-2027. China is the largest exporter of steel, which is a major raw material used in manufacturing cranes. Cranes are important part of power production activities in China. They must be able to operate with accuracy in many challenging conditions with precision and safety in the power sector. The shift to prefabricated construction is driving demand for high-performance cranes in China.

Key Insights!

The demand for crawler cranes is largely driven by increased investments in both building and civil engineering in China.
Truck-mounted cranes are expected to show strong growth in China, as government diesel emission control policies have led to the replacement of old cranes.
Crawler cranes are the largest mobile cranes. These are large cranes that move around a construction site on tank-like treads and can lift over 2,756 tons of weight.
In 2020, less than 20 tons crane segment accounted for the highest share of around 45.9% across China.

Get More Information – https://www.arizton.com/market-reports/china-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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