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NEW YORK, July 13, 2022 /PRNewswire/ — The “Cranes Market by Product (mobile cranes, fixed cranes, and marine and port cranes), Application (construction, industrial, and utilities), and Geography (APAC, Europe, North Americaand South America) – Forecast and Analysis 2021-2025” report has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio is proudly partnering with more than 100 Fortune 500 companies for over 16 years. The potential growth difference for the cranes market between 2020 and 2025 is USD 11.9 billionas per the latest market analysis report by Technavio. The report has identified the market to witness an accelerating growth momentum at a CAGR of 5.61% during the forecast period. Technavio categorizes the global cranes market as a part of the global industrial machinery market. The growth in end-user industries due to urbanization is a major factor driving the global cranes market share growth. The volatility in raw material prices will be a major challenge for the global cranes market share growth during the forecast period.
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Market Segmentation Highlights
The cranes market report is segmented by Product (mobile cranes, fixed cranes, and marine and port cranes), Application (construction, industrial, and utilities), and Geography (APAC, Europe, North Americaand South America).
- Revenue-generating segment highlights: The cranes market share growth in the mobile cranes segment will be significant during the forecast period. The mobile cranes segment of the global cranes market includes all-terrain cranes, crawler cranes, and city cranes, among others. The increasing investments in the development of megacities are a major driver of this segment.
- Regional Analysis: APAC will be the leading region with 60% of the market’s growth during the forecast period. China and Japan are the key markets for the cranes market in APAC. Market growth in this region will be faster than the growth of the market in all other regions. The rising number of construction activities and the increasing use of cranes in the development of smart cities will fuel the cranes market growth in APAC over the forecast period.
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Vendor Landscape
- The crane market is fragmented and the vendors are deploying growth strategies such as product innovation to compete in the market.
- To make the most of the opportunities and recover from the post-pandemic impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
- The cranes market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Some Companies Mentioned with their Offerings
- ABUS Kransysteme GmbH: The company offers a range of overhead travelling cranes, jib cranes, lightweight mobile gantry, and HB-systems. Some of the major offerings of the company under this product category include the Single girder overhead travelling crane, Single girder crane EHB-X, Pillar jib crane VS, and ABUS LPK mobile gantry.
- Columbus McKinnon Corp.: The company offers a range of overhead bridge…
Full story available on Benzinga.com
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