PUNE, May 12, 2020 (GLOBE NEWSWIRE) -- The global fixed crane market is set to gain impetus from the rising investments by the governments, as well as private sectors in the development of new residential, commercial, and public infrastructure. This information is given by Fortune Business Insights™ in a recent report, titled, “Fixed Crane Market Size, Share & Industry Analysis, By Type (Overhead Crane, Tower Crane, and Others), By Application (Construction, Oil & Gas, Ship Building, Power & Utilities and Others) and Regional Forecast, 2019-2026.” The report further states that the fixed crane market size was USD 10.26 billion in 2018 and is projected to reach USD 15.77 billion by 2026, exhibiting a CAGR of 5.6% during the forecast period.
Highlights of the Report
- Thorough analysis of the fixed cranes market trends, growth drivers, and barriers.
- Accurate overview of the market correlating the historical information with dynamics.
- Profiles of all the companies and their current position in the market in terms of share.
- Analysis of the latest revenue sources for companies.
- Competitive landscape including investments, innovative product launches, partnerships, collaborations, mergers & acquisitions, and similar other strategies.
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An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
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Drivers & Restraints-
Increasing Usage of Rental Equipment Services to Boost Growth
Numerous private and government infrastructure development associations worldwide, such as the European Rental Association (ERA) and Construction Equipment Rental Association (CERA) are emphasizing on the promotion of rental equipment services. This is occurring as such services are more cost-effective, safer, and comfortable to operate. Also, renting equipment required for construction activities is beneficial as it lowers the cost of maintaining, warehousing, and buying the fixed cranes. A study conducted by the ERA found that the countries belonging to European Free Trade Association (EFTA) and EU-28 showcased positive growth in 2018 at a rate of 2.8%. It also contributed to almost 1.7% growth in the GDP of Europe. However, the high initial purchase cost may hamper the fixed cranes market growth in the near future.
Segment-
Power & Utilities Segment to Grow Steadily Backed by Investments by Reputed Players
Based on application, the market is fragmented into power & utilities, shipbuilding, oil and gas, construction, and others. The power & utilities segment held 24.2% fixed crane market share in 2018 owing to the rising investments from the private and government institutions. Several local and prominent players are also investing huge sums in this sector for widening their business operations.
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Regional Analysis-
Rapid Urbanization in the U.S. & Canada to Favor Growth in North America
Geographically, the market is segregated into Latin America, the Middle East and Africa, Asia Pacific, Europe, and North America. Amongst these, Asia Pacific generated USD 4.71 billion fixed cranes market revenue in 2018. This growth is attributable to the rising investments in reconstruction and construction activities in this region. In North America, the market is expected to grow significantly fueled by the initiative by the government in the U.S. to construct new metro-stations, railway stations, and airports. Besides, rapid urbanization in Canada and the U.S. would contribute to the growth.
Competitive Landscape-
Key Companies Aim to Gain Competitive Edge by Bagging New Contracts
Most of the companies operating in the fixed cranes market are mainly engaging in the strategy of new contracts and agreements to gain a competitive edge. They are trying to win new orders of their own unique products to be delivered for prominent projects. Below are a couple of the key industry developments:
- March 2020: Manitowoc exhibited its latest model of topless crane called Potain MDT 569 at CONEXPO 2020. It is considered to be one of the most versatile and high-capacity fixed cranes featuring optimized component weights and sizes. It would help in enhancing hassle-free assembly and transport.
- February 2020: Potain delivered its MD 3200 crane in North America to help the construction group AFDE in completing heavy lifting on the ‘Site C Clean Energy Project.’
Fortune Business Insights™ lists out the names of all the renowned companies operating in the fixed crane market. They are as follows:
- Weihua Overseas Business Co., Ltd.
- Sarens n.v./s.a.
- Manitowoc
- Terex Corporation
- SANY GROUP
- Zoomlion Heavy Industry Science & Technology Co., Ltd.
- XCMG Group
- GORBEL INC.
- GH CRANES & COMPONENTS
- EMH, Inc.
- ABUS Kransysteme GmbH
- KITO Corp.
- Columbus McKinnon Corporation
- FAVELLE FAVCO BERHAD
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Detailed Table of Content
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Consolidated SWOT Analysis of Key Players
- Porter’s Five Force Analysis
- Global Fixed Crane Market Analysis, Insights and Forecast, 2015-2026
- Key Findings
- Market Sizing Estimations and Forecasts – By Type (Value)
- Overhead Crane
- Tower Crane
- Others (Bulk Handling Crane, etc.)
- Market Sizing Estimations and Forecasts – By Application (Value)
- By Application
- Construction
- Oil & Gas
- Ship Building
- Power & Utilities
- Others (Mining, etc.)
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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