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M&A, Partnerships and Product Introductions - Pervasive Strategies of Rough Terrain Crane Vendors Ensure Market Sustenance
In a bid to meet the evolving demand from end-use industries, the rough terrain crane market manufacturers are engaged in strategic business developments to win over market competition.
- In January 2018, SANY America Heavy Port Machinery announced a strategic partnership with Equipment Depot as its primary distribution partner in America heavy duty equipment market.
- In June 2018, Manitowoc, a leading provider of rough terrain cranes unveiled a new line of rough terrain crane- Grove GRT9165 which has multiple features and low cost of ownership.
- In July 2018, TNT Cranes & Rigging, Inc., one of the premium provider of cranes in North America completed merger with Allison Crane & Rigging. The merger is aimed at strengthening crane offerings and market position.
- In August 2018, Cropac Equipment, a distributor of Terex cranes in Atlantic Canada announced the expansion of the Terex cranes offerings with the introduction of new models in the dealership network.
- In the second quarter of 2018, Manitex, an American provider of cranes and lifting equipment announced a strategic partnership with Tadano, a leading Japanese crane manufacturer. Tadano’s acquisition of about 15% share of Manitex will allow Manitex to access Tadano’s distribution network and accelerate company growth.
- In 2017, Liebherr re-entered the rough terrain crane market by introducing a 100- tonnes capacity LRT 1090-2.1 rough terrain crane in the U.S. market.
Rough Terrain Crane Rental Service Landscape Upgrades with New Fleet Introduction
Between renting and owning, end-users of rough terrain cranes show a greater propensity for rental services owing to the cost-intensive nature of the product. Further, construction activities majorly require temporary equipment solutions wherein rough terrain cranes are utilized for loading and unloading of different load capacities. Consistent entry of new competitors, increasing the cost of new rough terrain cranes and operating costs continue to challenge rental service providers to optimize rental rates in the rough terrain crane market.
Well aware of the steady demand for cranes and opportunities in the rental services landscape, rental stakeholders are improving their services by adopting new ways such as the introduction of new and efficient fleet and replacing or upgrading some of the older equipment. For instance, Maxim Crane Works L.P., the largest crane rental company in North America introduced three new Liebherr all-terrain cranes including two LTM 1500-8.1 and one LTM 1450-8.1 in September 2018.
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Rough Terrain Crane Manufacturers Deliver Longer Boom and Maximum Tip Length
Boom length and overall tip length of rough terrain cranes determine the operational capabilities of the equipment in terms of lifting performance and carrying operations. Manufacturers in the rough terrain crane marketplace have introduced multiple boom length options and tip length in a bid to meet growing demand from end-user industries.
Like any other heavy duty equipment, rough terrain crane landscape continues to witness product development and innovation to align with the emerging requirements of end users. For instance, Manitowoc has introduced rough terrain cranes with a boom length of 80 meters and a maximum tip height of 120 meters. Manitowoc rough terrain cranes have seven-section full power boom and suspension system with independent hydro-pneumatic suspension and hydraulic lockout. TIL has also launched longer booms in its rough terrain cranes to deliver maximum reach and optimum lifting abilities. In September 2018, Tadano launched rough terrain crane specific for Oceania market with a maximum boom length of 18.5 meters.
Competitive Landscape
In the section of the competitive landscape, the rough terrain crane market report provides a dashboard view of all rough terrain crane market players. In the company profile section, readers can find product offerings, services provided, market presence and notable developments of key players operating in rough terrain crane marketplace.
Few of the profiled players in the rough terrain crane market include Terex Corporation, Link-Belt Construction Equipment Company, L.P., Kato Works Co. Ltd., Sany Heavy Industry Co., Ltd., Tadano Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd, The Manitowoc Company, Inc., XCMG Construction Machinery Co., Ltd and TIL Limited (India).
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