The global market for cranes will grow from nearly $29.4 billion in 2017 to $35.9 billion by 2022 with a compound annual growth rate (CAGR) of 4.1% for the period of 2017-2022

LONDON, March 5, 2018 /PRNewswire/ -- The global market for cranes will grow from nearly $29.4 billion in 2017 to $35.9 billion by 2022 with a compound annual growth rate (CAGR) of 4.1% for the period of 2017-2022.



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• The mobile cranes market will grow from $14.6 billion in 2017 to $18.7 billion by 2022 with a CAGR of 5.1%.
• The maritime cranes market will grow from $4.9 billion in 2017 to nearly $6.0 billion by 2022 with a CAGR of 3.9%..

Chapter 1: Introduction
The global construction industry has witnessed numerous ebbs and flows over the past decade. These uncertainties have had a resounding effect on the construction equipment and material lifting market, of which cranes are one of the most integral parts.

For the purposes of this report, cranes have been classified into three major types: mobile cranes, marine and port cranes, and fixed cranes.
Mobile cranes are capable of being put in motion to support material lifting. This makes them one of the most desirable pieces of equipment in the construction industry, as well as at sites where material lifting occurs. Depending on the type of site, end-user industry, application, lifting material and the region, these cranes are broadly classified into truck, all-terrain, rough-terrain, truck loader and crawler cranes.

Marine and port cranes are integral equipment in the marine industry where they assist in lifting material containers from ships to the shore or stacking containers at the ports. Furthermore, their function is broadened by their use on floating vessels or ships or boats to perform lifting operations onshore or offshore. These cranes are sub-classified into mobile harbor, gantry, offshore and ship cranes.

Fixed cranes are incapable of moving around as they are permanently attached to a base. These cranes have application in various infrastructure activities and manufacturing sectors. They can be further subclassified into tower and industrial/overhead cranes.

Each type of crane differs in terms of its lifting capacity, outreach and height. One current market trend is toward higher lifting capacity, primarily due to the complex infrastructure that demands a high level of flexibility from material lifting equipment.

Other markets include "greener" fleets, advanced automation technology and fuel efficiency.
Global infrastructure and construction growth, emerging markets (referred to in this report as Rest of the World [ROW]) and global trade are the chief drivers in this industry. China has emerged as the leader in the global crane market. The overall crane market is estimated at 306,421 units by 2022, up from 249,066 units in 2016 at a compound annual growth rate (CAGR) of 3.6% between 2017 and 2022.

Study Goals and Objectives
The paramount goal of this report is to provide an up-to-date analysis of recent developments and current trends in the global crane marketplace, with a secondary aim of pointing out the significant drivers of revenue growth in specific crane categories. The objective of this kind of systematic research is to quantify the projected impact of the internal and external forces that are affecting the global crane industry today and in the near future.

Reasons for Doing This Study
The growing demand for cranes is being spurred by the increasing construction and infrastructural development in the high-growth emerging economies, especially in the Asia-Pacific region. However, some types of marine and port cranes have been experiencing stagnant growth or at best marginal increases over the levels achieved before the economic and financial crisis of 2008.

The Chinese economy, which had been a booming market for construction equipment for years, has been on a downward trend since 2012. However, it is expected to enter into recovery mode in late 2017 and early 2018, bolstered by demand from emerging economies such as Indonesia, Malaysia, Philippines, Brazil and India, and experience strong growth throughout the forecast period (2017 to 2022).

On the other hand, advanced economies showed signs of getting their strength back during the end of 2017, with strong fundamental growth in the U.S. With higher demand in the crane market expected from the highly populated emerging economies, the governments in these regions will be making major investments in improving the basic levels of infrastructure as well as in construction needs. The advanced economies will also start investing in major infrastructure projects.

Scope of Report
The scope of this report is global and examines regional markets for each type of crane. The report also includes a discussion of the major players in in the global crane market.

Information Sources
The findings in this report are based on information gathered from primary and secondary research sources. The primary sources of information consist of industry association data, and interviews conducted with crane manufacturers and distributors. The secondary sources consist of industry journals and publications, product literature, white papers and technical journals, and financial reports for industry suppliers.

The base year for analysis and projection is 2016, and market projections were developed from 2017 to 2022. These projections are based on a combination of a consensus among the primary contacts, our understanding of the key market drivers, and their impact from historical and analytical perspectives. All dollar projections presented in this report are in 2016 constant dollars.

Methodology
A descriptive study has been done with a trend analysis of the global market for cranes with a quantitative and qualitative approach.
BCC Research amasses data through various primary and secondary sources, including interviews with industry vendors, white papers, business journals, public financial proceedings and historical market data from the internet. The market data is assessed and validated considering interrelated market attributes and the impact of global economic variables.

The value of the market is then obtained through a combination of bottom-up and top-down approaches, using exclusive market modeling tools. Estimated values used are based on manufacturers' total revenues.

Geographic Breakdown

In this report, the geographic regions considered for market analysis include, and only include:
North America
• U.S.
• Mexico.
• Canada.
Europe
• From Greenland (Denmark) to Russia and from Norway to Greece.
Asia-Pacific
• From Afghanistan to Japan and from Mongolia to New Zealand.
South America
• From Guatemala to Chile.
ROW
• Entire Middle East countries and entire African Regions.

Global Market for Cranes, by Type
Mobile Cranes
Truck Loader Cranes
Truck Cranes
Crawler Cranes
All-Terrain Cranes
Rough-Terrain Cranes

Maritime Cranes
Mobile Harbor Cranes
Ship-toShore Cranes
Rubber-Tire Gantry Cranes
Ship Cranes
Rail-Mounted Cranes
Automatic Stacking Cranes
Offshore Cranes

Fixed Cranes
Tower Cranes
Industrial Cranes

Chapter 2: Summary and Highlights
Cranes are an integral part of the global material lifting industry. The focus of global crane companies is to improve few features such as flexibility, lifting and outreach capacity, and they are making major investments in R&D on the technological innovations to achieve this. This report examines the global crane market in terms of units and value, with a focus on trends in the industry that will impact the crane market in the next five years.

By region, the major players in the global market for cranes are:
North America
• Altec Industries Inc.
• Dearborn Crane and Engineering
• Elliott Equipment Co.
• Manitex International Inc.
• National Oilwell Varco Inc.
• North Pacific Cranes Co.
• Terex Corp.

Europe
• Abus Cranes Systems Ltd.
• Cargotec Oyj.
• Fassi Gru S.P.A.
• FB Gru.
• Hans Kuenz GmbH.
• Huisman Equipment B.V.
• Italgru S.R.L.
• J. Barnsley Cranes Ltd.
• Kenz-Figee B.V.
• Konecranes.
• Liebherr-International AG.
• PacecoEspana S.A.
• Palfinger Group.
• Raimondi Cranes S.P.A.
• SennebogenMachinenfabrik GmbH.
• SpieringsKranen B.V.
• TTS Group A.S.A.

Asia-Pacific
• Doosan Vina (Doosan Heavy Industries Vietnam).
• Electromech Material Handling Systems (India) Pvt. Ltd.
• Furukawa Co. Ltd.
• Fushun Yongmao Construction Machinery Co. Ltd.
• Fuwa Heavy Industry Co. Ltd.
• IHI Corp.
• Kato Works Co. Ltd.
• Kobe Steel Ltd.
• Mitsubishi Heavy Industries.
• Mitsui E&S Co. Ltd.
• Sany Heavy Industry Co. Ltd.
• Sichuan Construction Machinery (Group) Co. Ltd. (SCM).
• Tadano Ltd.
• Xuzhou Construction Machinery Group (XCMG).
• Zhejiang De-Ying Architectural Machinery Manufacture Co. Ltd.
• Zoomlion Heavy Industry Science & Technology Co. Ltd.

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