Global Crane Market – Key Research Findings
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Top 3 Factors Shaping the Global Crane Market
The crane markets in emerging regions are expected to be driven by increasing investments in construction and mining. According to MEED (Middle East Economic Digest), the contribution of the construction sector to the GDP in UAE increased from 10.3% in 2011 to 11.1% in 2015. With the bourgeoning industrial sector, including mining, manufacturing, utilities, construction, and oil and gas, the demand for mobile cranes in these regions is expected to increase during the forecast period.
As such, many companies are entering the market in Asia Pacific and the Middle East and Africa with the hope of capitalizing on this demand and expanding their geographical footprint. For this, companies are focusing on developing products that comply with the respective safety and emission standards of the local markets.
Increasing investments made by governments as well as private sector companies in infrastructure development projects is the major factor driving the growth of the global crane market. Within these projects, the significant demand drivers going forward are urban infrastructure, road construction, irrigation, and mining operations.
Investments in infrastructure can be classified into investments for airports, ports, railways, roads, pipelines, waterways, irrigation, and urban infrastructure. In September 2016, the Liebherr Group supplied three mobile cranes during the expansion of the airport to the suburban railway line in Barcelona.
Mobile cranes are primarily used for high capacity lifting in greater height applications. However, the use of many other lifting equipment for these applications offer substantial limitations in lifting capacity, comfort, and difficulty in steering maneuverability. These limitations are overcome by mobile cranes due to the availability of large capacity cranes with enhanced driving comfort. Thus, the demand for these applications is mainly increasing the adoption of mobile cranes, thereby driving the global mobile crane market.
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Global Crane Market Structure Analysis