Global Crane & Hoist Market 2018-2023 - Leading Players are Expanding Their Existing Portfolio or Adding New Offerings
DUBLIN, July 13, 2018 /PRNewswire/ --
The "Crane and Hoist Market by Crane Type (Mobile Crane, Fixed Crane), Hoist Type (Wire Rope, Roller Load Chain, Welded Link Load Chain), Crane Operation (Hydraulic, Electric, Hybrid), Hoist Operation, Industry, Geography - Global Forecast to 2023" report has been added to ResearchAndMarkets.com's offering.
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The cranes market is expected to be valued at USD 32.93 Billion in 2017 and is projected to reach USD 44.70 Billion by 2023, at a CAGR of 5.22% between 2017 and 2023. The hoists market is expected to be valued at 1.82 USD Billion in 2017 and is projected to reach USD 2.65 Billion by 2023, at a CAGR of 6.41% between 2017 and 2023.
The growth of the crane and hoist market is propelled by the increasing demand for construction machinery in the construction industry and in the mining industry for ore extraction. The increasing demand for lifting loads in the shipping industry and for material handling equipment in the aerospace & defense industry is a key opportunity for the players in the crane and hoist market. The crane and hoist market has been segmented on the basis of type, operations, industry, and geography.
The major restraint for the crane and hoist market is the lack of skilled manpower to operate crane and hoist. The demand for skilled technicians has been on the rise for years. However, most industries face a shortage of qualified engineers and maintenance staff to properly support and maintain equipment. The use of a large number of components in a crane necessitates the requirement for highly skilled labors to mount components and harness cables and operate different crane and hoist to lift and lower different weights.
The cranes market for hydraulic cranes by operations held the largest market share in 2016. Hydraulic cranes are widely used for hoisting and moving heavy materials in shipyards, warehouses, and industrial workshops. Moreover, hydraulic cranes are used in transport, manufacturing, and construction industries. The retraction length of hydraulic cylinders is 20-40% of the fully extended length.
The cranes market in Asia Pacific held the largest market share in 2016. Asia Pacific being the most rapidly growing market offers a huge opportunity for agricultural equipment manufacturers owing to the enormous development in the farm machinery segment. This is driven by the increased demand for the mechanization of farms to address the needs of the growing population. Several governments provide support to increase the productivity in the agriculture sector through the automation of farming methods. India and China are the major markets for cranes in Asia Pacific. Moreover, the rapid development of industries such as construction, agriculture, infrastructure, and mining drives the market for cranes in India and Australia.
The market for wire rope hoists held the largest market share in 2016. Wire rope medium changes according to the load capacity of the hoists, and these hoists are powered electrically or pneumatically, and are mounted overhead on the bridge beam with the help of a trolley. Wire ropes are widely used in the production environment because they offer fast lifting time. They are normally used to lift objects weighing below 10 tons.
In the hoists market, Asia Pacific held the largest market share in 2016. The need for increasing the production output without compromising on quality standards has affected the manufacturing sector in China. Manufacturers and suppliers are facing challenges in terms of the increasing labor cost and higher lead time caused by manual processes. Hence, companies are automating their processes, thereby driving the hoists market in China.
Top companies such as Konecranes (Finland), Cargotec (Finland), Terex (US), Tadano (Japan), Liebherr (Switzerland), Manitowoc (US), Ingersoll Rand (Ireland), Mammoet (Netherlands), ZPMC (China), Kito (Japan), XCMG (China), Zoomlion (China), and Columbus McKinnon (US) are adopting the strategy of product launches for improving their position in the crane and hoist market by either expanding their existing portfolio or adding new offerings.
In January 2017, Columbus McKinnon has acquired STAHL Crane Systems (Germany), a manufacturer of explosion-protected hoists and crane components. This acquisition allows the company to focus on its growth in non-US markets and to expand its market in Europe. Columbus McKinnon has also acquired Magnetek (US), a leading designer and manufacturer of digital power and motion control solutions for material handling, elevator, and mining applications.
Liebherr has adopted the organic growth strategy to grow in the industrial lifting equipment market. The company launched several new products between FY2015 and FY 2016. The company focuses on innovation and new technologies; the company has invested USD 600.5 Million, 6.33% of its total revenue in R&D. In 2005, Liebherr has acquired the Shriro tower crane division from the Shriro group in Hong Kong. With this acquisition, Liebherr-Singapore became responsible for the Liebherr tower crane business throughout Asia.
Key Topics Covered
1 Introduction
1.1 Study Objectives
1.2 Definition
1.3 Scope of the Study
1.3.1 Markets Covered
1.3.2 Years Considered for Study
1.4 Currency
1.5 Stakeholders
2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data from Primary Sources (Cranes)
2.1.2.2 Key Data from Primary Sources (Hoists)
2.2 Secondary And Primary Research
2.2.1.1 Key Industry Insights
2.2.1.2 Breakdown of Primaries
2.3 Market Size Estimation
2.3.1 Bottom-Up Approach
2.3.2 Top-Down Approach
2.4 Market Breakdown And Data Triangulation
2.5 Research Assumptions
3 Executive Summary
4 Premium Insights-Cranes And Hoists Market
4.1 Lucrative Opportunities in Cranes Market
4.2 Lucrative Opportunities in Hoists Market
4.3 Cranes Market for Aerospace & Defense Industry, By Region
4.4 Hoists Market, By Industry
4.5 Mobile Cranes Market, By Type
4.6 Cranes Market in North America, By Industry And Country
4.7 Cranes Market, By Geography
4.8 Hoists Market, By Geography
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increasing Demand for Lifting Loads in the Shipping Industry
5.2.1.2 Rising Demand for Ore Extraction And Handling Equipment in the Mining Industry
5.2.2 Opportunities
5.2.2.1 Increasing Demand for Material Handling Equipment in Aerospace & Defense Industry
5.2.2.2 Rising Demand in the Construction Industry
5.2.3 Challenges
5.2.3.1 Declining Prices of Oil And Gas
5.2.3.2 Lack of Skilled Manpower to Operate Cranes And Hoist
5.3 Value Chain Analysis
6 Cranes Market, By Type
6.1 Introduction
6.2 Mobile Cranes
6.2.1 Crawler Cranes
6.2.2 Rough Terrain Cranes
6.2.3 All-Terrain Cranes
6.2.4 Truck Loader Cranes
6.2.5 Ship Cranes
6.2.6 Mobile Harbor Cranes
6.2.7 Automatic Stacking Cranes
6.3 Fixed Cranes
6.3.1 Industrial Cranes
6.3.2 Tower Cranes
6.3.3 Ship-To-Shore Cranes
6.3.4 Gantry Cranes
7 Cranes Market, By Operations
7.1 Introduction
7.2 Hydraulic
7.3 Electric
7.4 Hybrid
8 Cranes Market, By Industry
8.1 Introduction
8.2 Construction
8.3 Aerospace & Defense
8.4 Shipping & Material Handling
8.5 Mining
8.6 Automotive & Railway
8.7 Marine
8.8 Energy & Power
8.9 Others
9 Regional Analysis: Cranes Market
9.1 Introduction
9.2 North America
9.2.1 Us
9.2.2 Canada
9.2.3 Mexico
9.3 South America
9.3.1 Chile
9.3.2 Brazil
9.3.3 Peru
9.3.4 Argentina
9.4 Europe
9.4.1 Germany
9.4.2 Uk
9.4.3 France
9.4.4 the Netherlands
9.4.5 Rest of Europe
9.5 Asia Pacific (Apac)
9.5.1 China
9.5.2 Japan
9.5.3 India
9.5.4 Australia
9.5.5 Rest of Apac
9.6 Rest of the World (Row)
9.6.1 Middle East
9.6.2 Africa
10 Hoists Market, By Type
10.1 Introduction
10.2 Wire Rope
10.3 Roller Load Chain
10.4 Welded Link Load Chain
10.5 Others
11 Hoists Market, By Operations
11.1 Introduction
11.2 Pneumatic
11.3 Electric
11.4 Hydraulic
12 Hoist Market, By Industry
12.1 Introduction
13 Hoist Market, By Region
13.1 Introduction
14 Competitive Landscape
14.1 Overview
14.2 Ranking Analysis of Cranes Manufacturers
14.3 Ranking Analysis of Hoists Manufacturers
14.4 Competitive Scenario
14.4.1 Product Launches
14.4.2 Mergers And Acquisitions
14.4.3 Business Expansions
14.4.4 Orders
15 Company Profiles
15.1 Konecranes
15.2 Terex
15.3 Liebherr
15.4 Manitowoc
15.5 Cargotec
15.6 Zoomlion
15.7 Ingersoll Rand
15.8 Columbus Mckinnon
15.9 Kito
15.10 Tadano
15.11 Other Key Players
15.11.1 Komatsu
15.11.2 Xcmg
15.11.3 Mammoet
15.11.4 Palfinger
15.11.5 Zpmc
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