Global Tower Crane Market Trends, Applications, Analysis, Growth, and Forecast: 2017 to 2026

The Tower Crane Market Report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2031.

The Tower Crane Market report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint.

The global tower crane market report has been segmented on the basis of type, application, and region.

This Tower Crane Market report is based on the synthesis, analysis, and interpretation of information gathered regarding the target market from various sources.

Our analysts have analyzed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market.

In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in the future.

Tower Crane Market Overview:

“The Tower Crane Market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”

Tower cranes are crucial equipment, and modern types of balance cranes offer ideal blends of lifting capacity and height and are used in various sectors for a range of applications.

A tower crane comprises a base, mast, and slewing unit, wherein the base is attached to the mast, which determines the height of the crane.

In addition, the mast is attached to the slewing unit, which allows the crane to rotate, and the slewing unit consists of gears and motors.

The equipment is mostly used for lifting and transporting heavy loads. The equipment generally comprises one or more simple machines so as to gain mechanical advantages that are beyond the normal human capability.

Tower cranes have many applications, including loading and unloading of heavy freight in the transport industry, and can also move larger volumes of materials in the construction industry and can be used to assemble large and heavy machinery in the manufacturing industry.

The growth of the global market is driven by various factors such as rising repair tasks and rehabilitation of new and existing infrastructure, increasing construction and infrastructure projects in private and public sectors, etc.

In addition, robust development of residential and commercial complexes along with increasing urbanization and growing global population are other factors expected to fuel the growth of the global market.

Furthermore, the growth of some other major industries such as oil & gas, and marine & seaports is expected to drive the growth of the global market.

Asia Pacific region accounted for the largest revenue share in the global market in 2016 and is expected to continue to remain dominant over the forecast period.

In terms of CAGR, the market in the Asia Pacific is projected to be comparatively higher, followed by North America and Europe markets.

This is attributed to robust growth in construction activities in various economies of the region, including China, India, Japan, and Indonesia.

Moreover, increasing spending capacity, growing urbanized population, increase in industrialization, etc. are the major factors expected to fuel the growth of the market in the region.

Tower Crane Market Segmentation:

Segmentation by Product:

• Fast-erecting
• HammerHead Cranes
• Luffing Jib Cranes
• Self-Erecting Cranes
• Mobile Cranes

Segmentation by Capacity:

• Up to 5 Tons
• 5 to Tons
• 10 to 20 Tons
• 20 to 50 Tons
• Above 50 Tons

Segmentation by Design:

• Top Slewing
• Bottom Slewing

Segmentation by End-Use:

• Building & Construction
• Residential
• Infrastructure
• Civic Infrastructure
• Marine & Sea Ports
• Mining
• Others

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa