$ 33.0 Billion Crane and Hoist Market by 2026
CHICAGO, May 26, 2021 / PRNewswire / – According to the new market research report on the “Cranes and Hoists Market by Type (Mobile Cranes, Fixed Cranes), Operations (Hydraulic, Electric, Hybrid), Industry (Construction, Shipping & Handling, Automotive & Rail, Mining, Aerospace & Defense, Energy & Energy) – Global Forecast to 2026 “, published by MarketsandMarkets ™, the market size for cranes and hoists is expected to increase from 26.0 billion USD in 2021 to 33.0 billion USD by 2026; it is expected to grow at a CAGR of 4.8% from 2021 to 2026. The key factors for the growth of large demand of the construction industry market, the expansion of the mining industry, increased use in the construction industry. shipping industry.
Request the PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=31538625
“Mobile crane segment by type captured the largest market size of the overall crane and hoist market in 2020”
The mobile crane segment held the largest share of the global crane and hoist market in 2020. The growth of the mobile crane segment is mainly driven by their characteristics such as high mobility, high traveling speed and the requirement of less time to install them. construction sites. The use of mobile cranes in the mining, construction, aerospace, shipping and material handling industries has grown in popularity, where lifting and lowering activities require large movements of objects. , materials or equipment.
“Operationally, the hydraulic operations segment captured the largest market size of the overall crane and hoist market in 2020”
The hydraulic operations segment held the largest share of the global cranes and hoists market in 2020. The growth of the hydraulic cranes market is driven by their increasing demand in construction and material handling business. The use of hydraulic technology ensures efficient use of energy and reduces energy requirements. Hydraulic cranes are widely used for lifting and moving heavy materials in warehouses and industrial workshops. In addition, hydraulic cranes are used in the transportation, manufacturing and construction industries. The retraction length of hydraulic cylinders is 20 to 40% of the fully extended length. Therefore, telescopic hydraulic cylinders are ideal for limited mounting space and long stroke is required. The use of hydraulic cranes is increasing due to space constraint in different industries, such as construction and shipping and handling, and assembly lines. The COVID-19 pandemic has affected the growth of the overall crane market, hence hampering the growth of the hydraulically operated crane market.
“From an industry perspective, the construction segment is expected to grow at the highest rate from 2021 to 2026”
The construction industry has undergone substantial changes in recent years due to the global recession, which has led to downsizing of the industry in developed markets. However, construction investment in most emerging markets continued to grow at a moderate pace despite the global crisis. Earth moving equipment is mainly used for construction work such as digging earth, lifting, weight loading and unloading and leveling. Applications of cranes in earth moving equipment include heavy loads, high cycles and precise movements. The COVID-19 pandemic has affected the global construction industry with delayed projects and reduced investment in the infrastructure sector. With the development of COVID-19 vaccination, real estate and infrastructure projects across the world are expected to slowly accelerate and lead to the growth of the construction industry. China has already launched the “New Infrastructure” campaign to offset the economic impact of the COVID-19 pandemic. These factors are expected to lead to a high growth rate of the construction industry crane market.
Browse the detailed table of contents on “Cranes and hoists market“
187 – Tables
64 – Figures
Inquiry before buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=31538625
“APAC to register highest CAGR from 2021 to 2026”
APAC is expected to hold the largest share of the cranes and hoists market and is expected to experience the highest rate during the forecast period. Asia Pacific is the fastest growing market and offers great opportunities for the construction industry, which is driven by the growing population. The construction and material handling industries have grown rapidly and as a result have propelled the crane market into India, China, and Australia. The growing awareness of automation and the growing importance of leading economies such as China and Japan on the construction and material handling industries are some of the major factors contributing to the larger market share of the APAC region. In addition, the rapid growth of the automotive, construction and aerospace and defense industries in emerging economies, such as China and India, also supports the growth of crane market in APAC region
The main players in the crane and hoist market are Konecranes (Finland), Liebherr (Germany), Tadano (Japan), Terex (United States), Zoomlion (China), Ingersoll Rand (United States), Palfinger (Austria), Columbus mckinnon (United States), Kito (Japan), Kobelco (Japan), Sumitomo Heavy Industries (Japan), ABUS Kransysteme (Germany).
Hydraulics Market with COVID-19 Impact Analysis, by Components (Engines, Pumps, Cylinders, Valves, Filters, Accumulators, Transmissions, Others), Type (Mobile Hydraulics and Industrial Hydraulics), End User and Region – Global Forecast until 2025
Automated Material Handling Equipment Market by Product (Robots, ASRS, Conveyors & Sorting Systems, Cranes, WMS, AGV), System Type (Unit Load, Bulk Load), Industry (Automotive, Metals & Heavy Machinery, E-commerce) and region – Global forecast to 2026
About MarketsandMarkets ™
MarketsandMarkets ™ provides quantified B2B research on 30,000 high growth niche opportunities / threats that will impact 70% to 80% of global business revenues. Currently serving 7,500 clients worldwide, including 80% of global Fortune 1000 companies as clients. Nearly 75,000 senior executives from eight industries around the world approach MarketsandMarkets ™ for their perspectives on revenue decisions.
Our 850 full-time analysts and SMEs at MarketsandMarkets ™ follow high-growth global markets by following the Growth Engagement Model – GEM. GEM aims to proactively collaborate with clients to identify new opportunities, identify the most important clients, write “Attack, Avoid and Defend” strategies, identify additional revenue streams for the company and its competitors. MarketsandMarkets ™ now offers 1,500 MicroQuadrants (Positioning of key players among leaders, emerging companies, innovators, strategic players) per year in high growth emerging segments. MarketsandMarkets ™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them launch their innovations / disruptions early in the market by providing them with research ahead of the curve.
MarketsandMarkets’ flagship competitive intelligence and market research platform ‘Knowledge Store’ connects over 200,000 markets and entire value chains for a better understanding of unfulfilled information as well as market size and forecast niche markets.
Mr. Aashish Mehra
MarketsandMarkets ™ INC.
630 Dundee Road
Northbrook, IL 60062
United States: + 1-888-600-6441
E-mail: [email protected]
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/crane-hoists-market.asp
Visit our website: https://www.marketsandmarkets.com
Content source: https://www.marketsandmarkets.com/PressReleases/crane-hoists.asp
SOURCE Markets and Markets