The surge in urbanization is a major factor influencing the demand for tower cranes in developing nations such as India, Vietnam, Brazil, and others.
PORTLAND, OR, UNITED STATES, August 12, 2021 /EINPresswire.com/ — Tower cranes are utilized for lifting and handling goods and materials. They are powerful equipment and can easily surpass the lifting capabilities of any other type of crane. In addition, it offers extremely high lifting capability and offers peak efficiency, stability, and precision.
The global tower crane market size is expected to reach $9.9 billion in 2028 from $6.6 billion in 2020, growing at a CAGR of 4.8% from 2021 to 2028. In 2020, Asia-Pacific dominated the market, in terms of revenue, accounting for a 46.4% share of the global tower crane market.
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Tower cranes are mostly fixed and offer heavy lifting and handling operations on very high heights. These cranes constitute of a vertical mast and an operating jib or arm, along with other components including, a counter jib, an operating cabin, slewing unit, hoist winch, and a hook, which assists in lifting and maneuvering heavy materials and goods efficiently. Tower cranes are mostly widely utilized in the construction of buildings and other structures owing to high demand for material handling and transportation on high elevations.
Top 10 Key Players
Action Construction Equipment Ltd.
ENG CRANES Srl
JASO Tower Cranes
Manitowoc Company, Inc.
Zoomlion Heavy Industry Science & Technology Co., Ltd.
Key Benefits for Stakeholders
The report provides an extensive analysis of the current and emerging global tower crane market trends and dynamics.
In-depth tower crane market analysis is conducted by constructing market estimations for the key market segments between 2019 and 2027.
Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
A comprehensive tower crane market opportunity analysis of all the countries is also provided in the report.
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Key Market Segments
By Lifting Capacity
Less than 5 ton
6 to 10 ton
More than 10 ton
By End-User Industry
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