Pune, India, November 28, 2017 /MRFR Press Release/- Market research future published a half cooked research report on global all-terrain crane market. The all-terrain crane market is expected to grow at a CAGR of around 5% during the period 2017 to 2023.
Cranes are primarily used for lifting heavy loads and transporting them to other places. An all-terrain crane is a type of mobile crane. All-terrain cranes are principally used in civil engineering construction works and in heavy equipment manufacturing for material handling. Growing construction sector across the globe, drives the growth of the market. Increasing investments in power transmission and distribution (T&D) networks, also pours the market growth. Adoption of all terrain-cranes, is also expected to accelerate due to the expansion in cement plants and increased business potential of ship building/repair. Moreover, rising competition in the market is expected to further drive the crane rental rates resulting in overall growth of all terrain crane revenue share. The general construction and transportation sectors on the other side are back into force with a large number of projects coming in their way, which is expected to have a progressive impact on the all-terrain crane industry. Majorly developing economies contribute in this difference, where both construction and retrofit market are growing at significantly higher pace. Also the developed economies are expected to demand up gradation of all terrain cranes in the future. However, the high maintenance cost, and high initial investment, are the factors that may hamper the growth of the all-terrain market.
Hence, global all-terrain cranes market is expected to grow at a CAGR of 5% during the forecast period.
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Market Research Analysis
For this study, the global all-terrain cranes market has been divided on the basis of type, and application. On the basis of type, the market has been segmented as less than 200 Ton, 200 to 500 Ton, and more than 500 Ton. 200 to 500 Ton all-terrain cranes is projected to grow at the highest CAGR during the forecast period. 200 to 500 Ton all-terrain cranes cater to all major lifting operations and are versatile in performing safe on and off-road construction projects.
Based on applications, the market has been segmented as construction, industries, utilities and others. The construction segment accounted for the largest market share. Due to increasing population and urbanization, there has been a shift in the population in the urbanized areas, especially in developing nations. This transition leads to an increased demand for homes and residential complexes, driving the demand in the segment. Increased investment in new commercial constructions and infrastructure projects also increases the demand in this segment. Utility is another major application of the market. Increasing investments in power transmission and distribution (T&D) networks, is a factor driving the market for all-terrain cranes.
Scope of the Report
This study provides an overview of the global all-terrain crane market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global all-terrain crane market by its type, by application, and region.
The prominent players in the global all-terrain crane market include Liebherr Group (Switzerland), The Manitowoc Company, Inc. (U.S.), Terex Corporation (U.S.), Tadano Ltd. (Japan), Xuzhou Construction Machinery Group Co., Ltd. (China), KATO WORKS CO., LTD (Japan), Elliott Equipment Company (U.S.), Manitex International Inc. (U.S.), SANY GROUP (China), Altec Industries (U.S.), Bcker Maschinenwerke GmbH (Germany) and among others.