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Rough Terrain Crane Market: Dynamics
The key driving factor for the global rough terrain crane market is the constantly growing populations, which have resulted in increased investments in construction and infrastructure sector across all major developing economies. The macroeconomic factor, such as growing urbanization & industrial activities, coupled with up gradation of existing infrastructure and an increase in demand for efficient & safe heavy construction machinery globally, is further augmenting the sales for rough terrain crane. The significant increase in sales of heavy construction machinery owing to the rise in the construction industry coupled with a growing automation in the machinery is highly anticipated to drive the global rough terrain crane market. Moreover, considerable growth in the Asian & Middle Eastern construction & infrastructure sector and technological advancement in traditional rough terrain crane will create a momentous opportunity for the global rough terrain crane market. Furthermore, the upsurge in working efficiency of the rough terrain crane is highly anticipated to boost the demand for rough terrain crane. As rough terrain cranes are designed to minimize the construction and infrastructure material transport time and provide ideal heavy material lifting options as per requirement, rough terrain cranes are gaining huge recognition across all regions. All the above mentioned major influencing factors are highly anticipated to drive the global rough terrain crane market over the forecast period. The key restraining factors such as high investment cost may hinder the global rough terrain crane market growth over the forecast period.
Rough Terrain Crane Market: Segmentation
The global rough terrain crane market is segmented on the basis of capacity, end-use sector and region.
Based on the capacity, the global rough terrain crane market is segmented as followings:
- Up to 25 Tons
- 26 Tons - 74 Tons
- 75 Tons - 100 Tons
- Above 101 Tons
Based on the end-use sector, the global rough terrain crane market is segmented as followings:
- Construction
- Oil & Gas
- Shipping & Port Building
- Power & Utilities
- Others
75 - 100 Tons of rough terrain crane is estimated to account for a significant market share over the forecast period as it caters to all major lifting operations and is versatile in performing both on-road and off-road construction projects. On the other hand, among end-use sector segments, the construction sector is anticipated to see rapid market growth over the forecast period, which is attributed to increasing the population and urbanization. Also, there has been a shift in the population towards urbanized areas, especially in developing economies.
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Rough Terrain Crane Market: Regional Outlook
The global rough terrain crane market is segmented into seven regions: North America, Latin America, Europe, CIS & Russia, Japan, APEJ (the Asia Pacific excluding Japan) and MEA. Among the above-mentioned countries, APEJ is estimated to account for a significant market share due to increase in construction activities in countries such as China, India, Indonesia and Australia, which is the major factor fuelling the growth of the APEJ market. Europe is anticipated to witness a high growth in the global rough terrain crane market owing to the increase in up gradation, repair & rehabilitation of the prevailing infrastructure and power grids & distribution networks. Moreover, Middle East & Africa is projected to showcase optimistic growth in the global rough terrain crane market due to the rise in construction activities in the commercial, residential and industrial sector along with a boost in the standard of living across the region. North America is one of the key developing regions that will generate generous opportunity in the global rough terrain crane market over the forecast period due to the rise in industrial output.
Rough Terrain Crane Market: Prominent players
Prominent players for the global rough terrain crane market are Liebherr Group, The Manitowoc Company, Inc., Terex Corporation, Tadano Ltd., Xuzhou Construction Machinery Group Co., Ltd., KATO Works Co., Ltd., TIL Limited, ENTREC Corporation, Manitex International Inc., SANY Group, Broderson Manufacturing Corp., Maxim Crane Works, L.P. and other key market players. The rough terrain crane market consists of well-diversified global and regional players with the global vendors ruling the market
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
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