Global Tower Cranes Market is valued approximately at USD 5 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 6% over the forecast period 2021-2027. Tower Cranes are primarily used in the planning and design process for conducting countless operations to move heavy elements like steel and concrete at the site. Rapid technological advancements in the market and increasing demand from the real estate and construction activities are some factors contributing to the market growth. For instance: according to Savills India, the demand for real estate (data centers) is expected to grow by 15-18 Million Sq Ft, by the year end 2025. Also, the demand for residential construction sectors is expected to go to 20 million houses in the urban areas, by the year end 2022, in India. However, Heavy government implementations of rules and regulations due to COVID-19 and decline in the demand and supply of tower cranes impedes the growth of the market over the forecast period of 2021-2027. Also, growing urbanization and increasing investments in the renewable energy resources is likely to increase the growth of the market in the forecasting period.
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The regional analysis of global Tower Cranes market includes Asia Pacific, North America, Europe, Latin America and Rest of the World for analysis and estimation, Asia Pacific is the significant region in terms of largest market share, across the world owing to increasing infrastructural developments Whereas, Europe is anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as heavy investments in the market, from the private players would create lucrative growth prospects for the Tower Cranes market across European region.
Major market player included in this report are:
Manitowoc Company Inc
Action Construction Equipment Ltd
Zoomlion Heavy Industry Science & Technology Co Ltd
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Crane type:
By Lifting Capacity:
Rest of the World
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