Industry Background:
The increasing demand for ore extraction and handling equipment in the mining industry is the driving factor of crane and hoist market. Crane is a machine for lifting or lowering a load, and moving it horizontally, in which the hoisting mechanism is an essential part of the machine. It may be driven manually or by power and may be a fixed or a mobile machine, but does not comprise stackers, hoist trolleys, lift trucks, backhoes, power shovels, or excavators. Hoist is an apparatus for raising or lowering a load, but does not include a car or platform riding in guides or horizontal motion.This growth is primarily driven by Growing Demand for Lifting Loads in the Shipping Industry and Increasing Demand for Ore Extraction and Handling Equipment in the Mining Industry.
Globally, a noticeable market trend is evident Growing Demand for Material Handling Equipment in Aerospace & Defense Industry. Major Manufacturers, such as Konecranes (Finland), Terex (United States), Liebherr (Switzerland), Manitowoc (United States), Cargotec (Finland), Ingersoll Rand (Ireland), Columbus Mckinnon (United States), Kito Corporation (Japan), Komatsu Limited (Japan) and XCMG Group (China) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Key Developments in the Market:
On Jun 14, 2019 - Komatsu Ltd., through its wholly owned subsidiary in Australia, has acquired an Immersive Technologies Pty Ltd., a Western Australia-based mining workforce optimization company.
Market Drivers
- Growing Demand for Lifting Loads in the Shipping Industry
- Increasing Demand for Ore Extraction and Handling Equipment in the Mining Industry
Market Trend
- Growing Demand for Material Handling Equipment in Aerospace & Defense Industry
Restraints
- Absence of Skilled Manpower to Operate Cranes and Hoist
Opportunities
Increasing Demand in the Construction Industry
Challenges
Decreasing Prices of Oil and Gas
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Crane and Hoist Study Sheds Light on
The Crane and Hoist Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Crane and Hoist industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Crane and Hoist industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.