Jul 10, 2020   SOURCE: BusinessWire

Global $29.2 Bn Mobile and Tower Cranes Market, 2020-2027 - ResearchAndMarkets.com

The "Mobile and Tower Cranes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Mobile and Tower Cranes Market to Reach US$29.2 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Mobile and Tower Cranes estimated at US$25.1 Billion in the year 2020, is projected to reach a revised size of US$29.2 Billion by 2027, growing at a CAGR of 2.2% over the period 2020-2027.

Mobile Cranes, one of the segments analyzed in the report, is projected to grow at a 2.4% CAGR to reach US$17.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Tower Cranes segment is readjusted to a revised 1.8% CAGR for the next 7-year period. This segment currently accounts for a 40.6% share of the global Mobile and Tower Cranes market.

The U.S. Accounts for Over 27.1% of Global Market Size in 2020, While China is Forecast to Grow at a 4.1% CAGR for the Period of 2020-2027

The Mobile and Tower Cranes market in the U.S. is estimated at US$6.8 Billion in the year 2020. The country currently accounts for a 27.06% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$5.7 Billion in the year 2027 trailing a CAGR of 4.1% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.4% and 1.5% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.9% CAGR while Rest of European market (as defined in the study) will reach US$5.7 Billion by the year 2027.

The publisher brings years of research experience to this 9th edition of the report. The 275-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others:

  • ELMAK
  • Favelle Favco Group
  • Fushun Yongmao Construction Machinery Co. Ltd.
  • Hyva Cranes
  • Konecranes
  • Liebherr Group
  • Manitex International, Inc.
  • Manitowoc Co. Inc.
  • Sany Heavy Industry Co. Ltd.
  • Tadano Faun GmvH
  • Terex Corporation
  • WOLFFKRAN International AG
  • Zoomlion Heavy Industry Science & Technology Co. Ltd.

Total Companies Profiled: 38

For more information about this report visit https://www.researchandmarkets.com/r/hi1v2q