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Crane Market to reach $34.58 Bn by 2028: COVID Impact, Trends, and Forecast

Released Month: April 2021

Evolve Business Intelligence, today has published a new market research report on “The global cranes market size was valued at $20.46 Billion in 2020 and is expected to reach $34.58 Billion by 2028 growing at the CAGR of 6.61% from 2021 to 2028.

For more information on the report: https://evolvebi.com/product/crane-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

The COVID-19 pandemic has led to disruption in the supply chain leading to lower demand or supply shortages in the Crane market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is expected to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.

In terms of COVID 19 impact, the Crane market report also includes the following data points:

  • COVID19 Impact on Crane market size
  • End-User/Industry/Application Trend, and Preferences
  • Government Policies/Regulatory Framework
  • Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
  • Opportunity in the Crane market

Analyst View
According to Lekha, Principal Analyst, Evolve Business Intelligence, “In COVID-19 pandemic, the Crane market are negatively impacted since the overall construction equipment industry experienced a downfall in their production due to supply chain disruptions, unavailability of workers and raw materials, and cash flow constraints. Hence, this pandemic has temporary reduced the demand for cranes.”

Competitive Scenario
Some of the major Crane players holding a high market share include Cargotec, Konecranes, Manitowoc, and Terex. These players use collaboration and expansion as a key strategy to gain significant market share to compete with market leaders

Segmental Analysis
The Crane market is analyzed across the below-mentioned segments:

  • Product Type
    • Mobile Cranes
    • Marine and Port Cranes
    • Fixed Cranes
    • Others
  • Application
    • Construction and Infrastructure
    • Mining
    • Oil and Gas
    • Others

Report Coverage
The study also contains a comprehensive value chain, as well as details on the key factors affecting the market growth (drivers, constraints, and opportunities). Furthermore, the report includes 10 key players in the Crane market ecosystem that have been strategically profiled, along with the market ranking/share for major players. Under the company profile section, the company’s core competencies have been comprehensively analyzed, along with detailing the competitive landscape for the market players, and the strategies such as partnerships and collaboration, acquisitions, product launches and developments, contracts, and business expansion adopted by them to grow in the market.

The key players profiled in the report are:

  • Cargotec
  • Konecranes
  • Liebherr-International
  • Manitowoc
  • Terex
  • XCMG Group
  • American Crane and Equipment
  • Badger Equipment
  • Broderson
  • Kobelco Cranes

To request a free sample report, click on the “Request Sample PDF” button on https://evolvebi.com/product/crane-market-analysis-and-global-forecast-2021-2028-with-covid-impact-analysis/

Research Methodology
This research study makes substantial use of secondary sources, archives, and databases (such as annual reports, news releases, magazines, Trade maps, company websites, and other paid databases) to classify and gather information valuable for this analysis. The entire process involves a review of top industry participants’ financial records. Following the determination of the overall market size, the total market was divided into several segments and sub-segments, and this information was then verified through key industry specialists such as CEOs, directors, VPs, and marketing executives.

Report Objectives

  • To define, describe, and forecast the Crane market, in terms of value, segmented based on indication, type, technology, and geography
  • To forecast the market size across 4 key regions—Asia Pacific (APAC), North America, Europe, and Rest of the World (RoW)
  • To provide detailed information regarding drivers, restraints, and opportunities, in the Crane market
  • To provide an overview of the value chain analysis about the Crane industry
  • To strategically analyze each segment and subsegment concerning individual overall growth trends and their contribution to the overall Crane market
  • To analyze opportunities in the market by identifying high-growth segments of the Crane market
  • To profile key players in the Crane market and comprehensively analyze their core competencies
  • To analyze competitive developments such as partnerships, product launches and developments, contracts, and mergers and acquisitions carried out in the global Crane market

About EvolveBI
Evolve Business Intelligence is a market research, business intelligence, and advisory firm providing innovative solutions to challenging pain points of a business. Our market research reports include data useful to micro, small, medium, and large-scale enterprises. We provide solutions ranging from mere data collection to business advisory.

Evolve Business Intelligence is built on account of technology advancement providing highly accurate data through our in-house AI-modelled data analysis and forecast tool – EvolveBI. This tool tracks real-time data including, quarter performance, annual performance, and recent developments from fortune’s global 2000 companies.

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