Industry Outlook and Trend Analysis
The global Tower Crane market was worth USD 6.78 billion in 2014 and is expected to reach approximately USD 9.93 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 4.34% during the forecast period. Tower cranes can lift an aggregate of around 20 tons and are for the most part used for the development of elevated structure ventures. The expansion in urban foundation ventures, elevated structure undertakings, and skyscraper private condo development extends crosswise over globe to incite market development amid the conjecture time frame.
End User Outlook and Trend Analysis
The infrastructure section is the leading segment trailed by the residential and commercial sectors. Major investments made by the governments of many nations across world are anticipated to result in this segment’s high market share amid the forecast period.
Regional Outlook and Trend Analysis
Geographically, the APAC region is anticipated to encounter substantial development in the following years. Rising investments in urban infrastructure projects across countries such as India, China, and Indonesia is foreseen to augment market development in APAC amid the forecast period.
Competition in the market is constantly rising as end users are concentrating more on producers that have the ability to manufacture technologically enhanced and eco-friendly tower cranes. The leading players in the market are Favelle Favco Group, Hankook Tower Crane, Linden Comansa America, Escorts Construction Equipment Limited, Zoomlion, Sarens, Abus Kransysteme and Terex.
The Tower Crane Market is segmented as follows-
By End User:
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?