About Tower Crane
Tower crane refer to a vertical metallic structure with a horizontal boom that has to be mounted On-Site. It is used to lift concrete, steel, large tools like and generators and acetylene torches other materials. Market players are focusing on technological developments. For instance, Raimondi a manufacturer of heavy lifting machinery launched LR273 luffing jib crane with a lengthy 60-meter jib and 18-tonne maximum load capacity. Further, increasing demand of heavy lifting and material handling cranes from the numerous industry verticals such as automotive & railway, mining, construction, and others expected to drive the demand for tower cranes over the forecasted period.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Number of players are present in the market hence fragmented nature of the market. Market players are focusing on technological developments to manufacture cranes to lift heavy loads. Further emergence of crane control software generating lucrative opportunities for the companies involved in the tower crane market. Analyst at AMA Research estimates that China Manufacturers will contribute the maximum growth to Global Tower Crane market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Konecranes (Finland), Cargotec (Finland), Terex (United States), Tadano (Japan), Liebherr (Switzerland), Manitowoc (United States), Ingersoll Rand (Ireland), Mammoet (Netherlands), Favelle Favco BHD (Malaysia), ZPMC (China), Kito (Japan), XCMG (China) and Zoomlion (China) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are Columbus McKinnon (United States), Wolfkkran International AG (Switzerland), Yongmao Holdings Limited (Singapore), Fangyuan Group Co. Ltd. (China), Kroll Cranes (Denmark), Raimondi (Italy) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Tower Crane market by Type (Self-erecting Tower Cranes, Flat Top Tower Cranes, Hammerhead Tower Cranes and Luffing Jib Tower Cranes), Application (Dam Building, Bridge Building, Shipyards, Power Plants and High Rise Buildings) and Region.
On the basis of geography, the market of Tower Crane has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industry Vertical, the sub-segment i.e. Aerospace and Defense will boost the Tower Crane market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emphasizing On Development of Fuel-Efficient Tower Cranes and Emergence of Crane Control Software
Market Growth Drivers:
Growing Demand from Emerging Countries Owing To Rapid Industrialization and Increase in Demand of Tower Cranes from the Mining Industry for Ore Extraction
Challenges:
Development of Cranes to Lift High Loads
Restraints:
High Cost Associated With Tower Crane and Fluctuating Raw Material Prizes
Opportunities:
Rise in Demand for High-Capacity Tower Cranes from Shipping Industry and Increasing Demand from the Construction Industry
Market Leaders and their expansionary development strategies
In September 2021, Phoenix-based Stafford Crane Group has acquired Portuguese tower crane manufacturer Soima Cranes. With this acquisition, SCG gains control over design and production of its tower crane equipment and will be able to take its customer service in rental operations to the next level.
In November 2018, Terex, a manufacturer of lifting and material handling solutions launched a new tower crane CTL 272-18 with 270 ton-meter load moment, 61-meter maximum jib length, and the maximum full-length load of 2.6 tonnes.
Key Target Audience
Tower Crane Manufacturers, Association of Equipment Manufacturers, Distributors and Suppliers, Research & Consulting Services, Potential Investors, Government Organizations, Research Organizations and Consulting Companies, Standard Organizations, Forums, and Alliances and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.