Tower Crane Market Research Report- Forecast 2030

Tower Crane Market Information: by Type (Flat Top, Hammerhead), Application (High Rise Building, Dam Building) and Region – Global Forecast till 2028

ID: MRFR/CO/3521-CR | October 2018 | Region: Global | 100 Pages         

Tower Crane Market

Tower Crane Market is projected to be worth USD 9,907.1 Million by 2028, registering a CAGR of 4.8% during the forecast period (2021 - 2028).

Segmentation
By Type Flat Top Hammerhead
By Application High Rise Building Dam Building
Key Players
Companies Profiled   Wolfkkran International AG   Yongmao Holdings Limited   XCMG Group (China)   Fangyuan Group Co. Ltd. (China)   LIEBHERR (Switzerland)   Manitowoc (U.S.)
Drivers
Market Driving Forces   Boom in population migration of people to cities and lack of housing structures in urban areas   Rapid urbanization land banking by governments government initiatives for infrastructure development and the expansion of the construction sector
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Tower Crane Market Overview


Tower crane market is projected to exhibit a 4.8% CAGR during the forecast period (2021 to 2028). Tower cranes are equipment that there are useful for lifting and handling products. They are one of the powerful pieces of equipment that is suitable for heavy-duty operations. They are sturdy to lift any type of crane. There is efficiency, precision and stability in this equipment. The use of these tower cranes is high in the construction industry. The construction of building and residences require more crane work.


 With the help of a tower crane transportation of construction materials to the top is possible. The crane tower can work in elevated form. Demand for such tower cranes is raising due to construction structures such as bridges, industries, dams and power plants. The lifting capacity of most of these tower cranes is up to 20 tons. The use of such tower cranes is high in residential and commercial buildings.


The worldwide budget for construction is rising by 6%. This will create more growth opportunities in the tower crane market. The new real estate projects in developing nations are another crucial driver of the market. The self-erecting and hammerhead crane towers are gaining more popularity. All these are the factor that contributes to immense market value for the tower crane market


Report Overview


The report provides an accurate overview of the market by correlating the historical data with key market dynamics. Our analysts make highly astute projections regarding the scope of the market and its future prospects. MRFR’s report includes a thorough analysis of the global tower crane market segmented according to type, application, and region. Trends and growth opportunities are highlighted coupled with upcoming investment opportunities. The market share of all prominent players and their current position in the market is discussed in minute detail. It analyzes new revenue sources for players and outlines the various strategies implemented by players.


Competitive Landscape


Notable players in the tower crane market include Wolfkkran International AG (Switzerland), Yongmao Holdings Limited (Singapore), XCMG Group (China), Shandong Dahan Construction Machinery Co., Ltd. (China), Fangyuan Group Co. Ltd. (China), Guangxi Construction Engineering Group Ltd. (China), Zoomlion Heavy Industry Science & Technology Co., Ltd. (China), Zhejiang Construction Machinery Group Co., Ltd. (China), LIEBHERR (Switzerland), Manitowoc (U.S.), Favelle Favco BHD (Malaysia), Terex Corporation (U.S.), Sichuan Construction Machinery (Group) Co. (China), HKTC (Korea), and Shandong Huaxia Group Co., Ltd (China).


The report offers comprehensive profiles on these market players and assesses their current standing in the market. Company history coupled with annual turnover, profit margins, segmental share, SWOT analysis, growth strategies, expansion techniques, and latest R&D initiatives are discussed in minute detail.


Segment Overview


By type, the market is self-erecting, flat top, hammerhead, and luffing jib tower cranes. By application, the market is segmented into dam building, bridge building, high rise building, power plants, and shipyards. The segments covered in the tower crane market report are analyzed with respect to four main regions – North America, South America, Europe, Asia Pacific (APAC), and the Middle East and Africa (MEA), with respective country-level market sizing. The report discusses in detail the various players residing in these regions and their respective strategies to climb up the market ladder.


Research Methodology


At MRFR, our research analysts conduct a thorough objective analysis of the market while creating market reports by adhering to a rigorous set of standards which allow a truly comprehensive view of the market. Use of primary research strategies such as interviews with top executives of crane manufacturers. Secondary research entails a thorough analysis of past and present trends in a forward-looking manner.


In addition, market size estimation and validation use both top-down & bottom-up approaches to obtain data from the value and supply chain. The balanced number of buyers and suppliers will result in a negligible demand-supply gap. Credible resources are accessed and verified by analysts to understand the nuances of market factors with consistency. Competent data analysts use strong analytical tools to ascertain accurate analysis of very relevant parameters in an effort to provide clients with a conclusive and dependable view of the future.Recent Development


September 2021 


Sany Group is launchings its new C series tower crane. SFT80 and SFT160 are the new launches in the market that are gaining more traction. These are cranes that are useful for plenty of work. The construction of prefabricated buildings is possible with this tower crane. The competition in the tower crane market is expected to increase due to these developments. 


There are new key player entries in the forecast period. The new entrances are expected to create more supply and demand in the market. Product innovation is expected to happen due to these reasons. 


Analysis Period



  • Base Year - 2019

  • Projection Period - From 2019 to 2026

  • Market Denomination - USD Million

  • Conversion Rate - Considered as per the respective financial years


Intended Audience



  • Tower Crane Manufacturers

  • Crane Manufacturers

  • Research Institute & Education Institute

  • Association of Equipment Manufacturers

  • Distributors and Suppliers

  • Research & Consulting Services


For the scope of research, the report offers a comprehensive analysis of the global tower crane market.


Type



  • Self-erecting

  • Flat Top

  • Hammerhead

  • Luffing Jib


Application



  • Dam Building

  • Bridge Building

  • High Rise Building

  • Power Plants

  • Shipyards


Region



  • North America

    • The U.S.

    • Canada

    • Mexico





  • South America

    • Brazil

    • Argentina

    • Colombia

    • Rest of South America





  • Europe

    • Germany

    • France

    • Italy

    • Russia

    • K.

    • Rest of Europe





  • Asia Pacific

    • Japan

    • China

    • India

    • Korea

    • Southeast Asia

    • Rest of Asia Pacific





  • The Middle East and Africa

    • Saudi Arabia

    • South Africa

    • UAE

    • Egypt

    • Nigeria





Report Scope:

Report Attribute/Metric Details
  Market Size   2028: USD 9,907.1 Million
  CAGR   4.8% CAGR (2022 to 2028)
  Base Year   2021
  Forecast Period   2022 to 2030
  Historical Data   2019 & 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Type, Application, Region
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   XCMG Group (China), Shandong Huaxia Group Co., Ltd (China), Shandong Dahan Construction Machinery Co., Ltd. (China), Manitowoc (U.S.), Yongmao Holdings Limited (Singapore), LIEBHERR (Switzerland), HKTC (Korea), Favelle Favco BHD (Malaysia), Guangxi Construction Engineering Group Ltd. (China), Sichuan Construction Machinery (Group) Co. (China), Zhejiang Construction Machinery Group Co., Ltd. (China), Zoomlion Heavy Industry Science & Technology Co., Ltd. (China), Wolffkran International AG (Switzerland), Terex Corporation (U.S.), and Fangyuan Group Co. Ltd. (China
  Key Market Opportunities   Rapid pace of urbanization and industrialization in emerging economies in the Asia Pacific
  Key Market Drivers

  • Boom in population, migration of people to cities, and lack of housing structures in urban areas
  • Rapid urbanization, land banking by governments, government initiatives for infrastructure development, and the expansion of the construction sector


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    Frequently Asked Questions (FAQ) :

    The global tower crane market is projected to grow at approximately 4.8% during the assessment period (2021-2028).

    The valuation of the global tower crane market is estimated to increase to USD 22,232.1 MN by the end of 2023.

    By type, the self-erecting segment and by applications, the high rise buildings segment holds the majority shares in the global tower crane market.

    Government initiatives for infrastructure development and land banking are the major tailwinds pushing the growth of the global tower crane market.

    Asia Pacific holds the largest share in the global tower crane market, followed by North America and Europe, respectively.

    XCMG Group (China), Shandong Huaxia Group Co., Ltd (China), Shandong Dahan Construction Machinery Co., Ltd. (China), Manitowoc (U.S.), Yongmao Holdings Limited (Singapore), LIEBHERR (Switzerland), HKTC (Korea), Favelle Favco BHD (Malaysia), Guangxi Construction Engineering Group Ltd. (China), Sichuan Construction Machinery (Group) Co. (China), Zhejiang Construction Machinery Group Co., Ltd. (China), Zoomlion Heavy Industry Science & Technology Co., Ltd. (China), Wolffkran International AG (Switzerland), Terex Corporation (U.S.), and Fangyuan Group Co. Ltd. (China), are some of the top players operating in the global tower crane market.