Global Crane And Hoist Market
Crane and Hoist Market Size And Forecast
According to Verified Market Research, Global Crane and Hoist Market was valued at USD 31.69 Billion in 2018 and is projected to reach USD 46.09 Billion by 2026, growing at a CAGR of 4.81 % from 2019 to 2026.
Global Crane and Hoist Market Outlook
Growing construction activities of high floor buildings together with rehabilitation of public places such as airports, metro stations, and schools are driving the growth of the market. Day by day size and height of machines and its component is increasing, as a result, it has become difficult to handle these things by the use of the traditional method. With the development of automation, the material handling problem has also been solved by the advent of crane and hoist. A crane and hoist act as an important unit to bring about increased production, lower shop cost, and better working conditions. The majority of operations in the construction industry, mining industry, and shipping industry has become dependent on the automation to obtain better work efficiency. The present trend toward precision handling of materials has created a demand for the simple crane. Much progress has been made toward automatic overhead material handling for the construction industry, production lines, warehouse, packing, shipping, and marine. However, rising carbon emission and lack of skilled manpower to operate cranes and hoists are hindering the growth of the market.
Global Crane and Hoist Market Competitive Landscape
The Global Crane and Hoist Market study report will provide a valuable insight with an emphasis on global market including some of the major players such as Konecranes, Terex, Liebherr, Manitowoc, Cargotec, Zoomlion, Ingersoll Rand, Columbus Mckinnon, Kito, and Tadano.
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