The global crane market will grow from $26.6 billion in 2012 to $29.3 billion in 2013. Market revenue is forecast to increase at a five-year compound annual growth rate (CAGR) of 6.9% from 2013 to 2018, totaling $41.0 billion in 2018.
This report provides:
- An overview of the global market for cranes used for lifting and lowering heavy materials, and cranes most commonly used in the construction, manufacturing, and transportation industries.
- Analyses of global market trends, with data from 2012, estimates for 2013, and projection of compound annual growth rate (CAGR) for the period 2013 and 2018.
- Identification of crane types such as mobile (truck-mounted, floating, rough-terrain, railroad, all-terrain, crawler, aerial, and side-lift), marine and port, and fixed (telescopic, self-erecting, tower, level-luffing, overhead, gantry, jib, bulk-handling, deck, stacker, and loader).
- Discussion of the historic market for cranes according to different categories.
- Examinations of global demand, key developments, industry trends, and the dynamic growth of the Chinese crane market.
GLOBAL FORECAST OF CRANE MARKET REVENUES BY SEGMENT, 2012–2018
Source: BCC Research
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The global construction industry has seen many ups and downs in the last decade that have affected the market for construction equipment and material lifting equipment, of which cranes are an integral part. To assess the market, cranes have been broadly classified into three major types: mobile cranes, marine and port cranes, and fixed cranes.
As the name suggests, mobile cranes can be moved around; thus, they can be moved directly to a construction site or from one job site to another to lift and lower materials. Depending on the type of site, end-user industry, application, materials being lifted and the geography, these cranes are broadly classified into truck, all-terrain, rough-terrain, truck loader and crawler cranes.
Marine and port cranes find application in the marine industry and assist in lifting material containers from ships to the shore or stacking containers at ports. These cranes are also used on floating vessels, ships or boats to perform lifting operations onshore or offshore. These cranes are further sub classified into mobile harbor, gantry, offshore and ship cranes.
Fixed cranes are fixed to a base and are not movable. These cranes find application in various infrastructure activities and manufacturing sectors. These cranes are broadly classified into tower and industrial/overhead cranes.
Cranes vary as per their lifting capacity, outreach and height. Current market trends include a focus toward higher lifting capacity. As infrastructure becomes more complex, greater flexibility is also expected from material lifting equipment. The market is also focusing on “greener” fleets, advanced automation technology and fuel efficiency.
Global infrastructure and construction growth, emerging markets and global trade are the major drivers of this industry. China, the largest crane market globally, is highlighted at the end of the report. This report also highlights consolidation in the markets and some major deals that have been struck since 2012 that could alter the industry landscape.
STUDY GOALS AND OBJECTIVES
The goal of this report is to provide an up-to-date analysis of recent developments and current trends in the global crane marketplace. Identifying significant drivers of revenue growth in specific crane categories is an additional aim. The objective of this type of systematic research is to quantify the projected impact of both internal and external forces that are affecting the global crane industry today and that will affect the industry for the next several years.
REASONS FOR DOING THE STUDY
With the increase in infrastructure development in the emerging markets, global demand for cranes has also increased considerably over the last five to 10 years. China has seen the greatest growth among the developing economies and has become the largest market for cranes. Western markets have seen low single-digit growth due to the slow recovery from the global economic crisis of 2008–2009 and have also been impacted by the European debt crisis. While demand for modern infrastructure is being created in highly populated developing economies, in the Western world major projects that were put on hold due to the economic downturn have slowly begun to resume. This will affect the dynamics of the crane market, which is a part of the global construction and material lifting equipment market.
SCOPE OF REPORT
The scope of this report is broad and covers several types of cranes used globally; it is broken down by three major types and further by their subtypes, regional markets and major players in each of these submarkets. Revenue forecasts from 2013 to 2018 are given for each of these market segments and subsegments.
The report also includes a discussion of major players across each of the subsegments within each of the three major crane markets; it explains the major market drivers of the global crane industry, current trends within the industry and major end-user industries within the global crane market.
The report concludes with a special focus on China, the largest crane market. It covers the growth in the crane industry in the Chinese market, discusses the major players in the market, and the major drivers, trends and end-user industries.
This report is intended especially for manufacturers, suppliers, end users and others with a vital interest in specific crane equipment and market segments. The report should also be of interest to industries such as construction, infrastructure, energy, automotive, heavy metal and mining. In addition, because of this report’s business focus, it will be useful to sales executives and business managers as an up-to-date guide that includes the challenges, drivers and trends that are expected to be significant factors in the current and future market.
The findings and conclusions of this report are based on information gathered from both primary and secondary sources. Interviews were conducted with crane manufacturing companies, distributors and rental companies. Secondary sources include industry journals and publications, product literature, white papers and technical journals, and the financial reports of industry suppliers.
The base year for analysis and projection is 2012. With 2012 as a baseline, market projections were developed for 2013 to 2018. These projections are based on a combination of a consensus among the primary contacts combined with our understanding of the key market drivers, and their impact from historical and analytical perspectives. The analytical methodologies used to generate the market estimates are described in detail in the market analysis. All dollar projections presented in this report are in 2012 constant dollars.
This report has been developed by the market research analysts at BizImpact Knowledge Services LLP, a market research and services company. The project has been managed by Aneesh Kumar, a partner in the company, with input from various subject matter experts. Aneesh Kumar has more than seven years of experience in handling various custom research projects and has worked with a multinational company on various research assignments for global markets.
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The information developed in this report, is intended to be as reliable as possible at the time of publication and is of a professional nature. This information does not constitute managerial, legal or accounting advice; nor should it serve as a corporate policy guide, laboratory manual or an endorsement of any product, as much of the information is of a speculative in nature. The author assumes no responsibility for any loss or damage that might result from reliance on the reported information or from its use.
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