The cranes market is poised to grow by USD 11.07 billion during 2020-2024, progressing at a CAGR of over 5% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled Global Cranes Market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Cranes Market Analysis Report by Product (mobile cranes, fixed cranes and marine and port cranes), Application (construction, industrial and utilities), and Geography (APAC, Europe, MEA, North America and South America),and the Segment Forecasts, 2020-2024".
The market is driven by the growth in end-user industries due to urbanization. In addition, the growth of construction industry is anticipated to boost the growth of the cranes market.
Rising urbanization, especially in developing countries has led to the development of end-user industries such as manufacturing, transportation and logistics, and utilities. It is estimated that by 2030, the number of megacities will increase significantly, especially in developing countries such as China, India, and South Africa. Cities are being constructed and expanded to accommodate the growing population. This will lead to the construction of hotels, railways, roads, hospitals, and residential buildings. Such activities increase the demand for construction and industrial machinery, which will positively impact the growth in the demand for cranes. Developing nations such as India, China, and South Africa, which are undergoing urbanization, are expected to rapidly drive the demand for cranes during the forecast period.
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Major Five Cranes Companies:
ABUS Kransysteme GmbH
ABUS Kransysteme GmbH has business operations under two segments, such as cranes and hoists. The company offers a range of overhead travelling cranes, jib cranes, lightweight mobile gantry, and HB-systems. Some of the major offerings of the company under this product category include the Single girder overhead travelling crane, Single girder crane EHB-X, Pillar jib crane VS, and ABUS LPK mobile gantry.
Columbus McKinnon Corp.
Columbus McKinnon Corp. operates its business through various segments, such as industrial products, crane solutions, and engineered products. The company offers a range of overhead bridge crane systems, jib cranes, enclosed track systems, and crane components. The complete crane kits are marketed under the Yale and Shaw-Box brands.
Eilbeck Cranes has business operations under various segments, such as overhead cranes, ex proof, winches & sheaves, machining, and service. The company offers a range of overhead cranes, jib cranes, and related accessories. Some of the major offerings of the company under this product category include the VS Pillar Jib Crane, VS Pillar Jib Crane, ABUS ELK Single Girder Overhead Travelling Cranes, and ABUS HB Light Crane System.
GH Cranes & Components
GH Cranes & Components operates its business under two segments, namely products and services. The company offers a range of overhead cranes, gantry cranes, jib cranes, and crane kits. Some of the major offerings of the company under this product category include the Single Girder Bridge Crane, Semi-Gantry Crane, Column Jib Crane, and Wall Jib Crane.
Gorbel Inc. has business operations under various segments, such as cranes, ergonomic lifting, fall protection, shopcrane, and rehabilitation. The company offers a range of workstation cranes, jib cranes, and gantry cranes. Some of the major offerings of the company under this product category include the Gorbel Workstation Cranes, Gorbel I-beam Jib Cranes, and Fixed and Adjustable Height Steel Gantry Cranes.
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Cranes Product Outlook (Revenue, USD Billion, 2020-2024)
- Mobile cranes
- Fixed cranes
- Marine and port cranes
Cranes Application Outlook (Revenue, USD Billion, 2020-2024)
Cranes Regional Outlook (Revenue, USD Billion, 2020-2024)
- North America
- South America
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