Tower Crane Market Analysis By 2028
The intelligence report by Allied Market Research is the solid outcome of deep study and arduous assessment of numerous dynamics modeling the growth of the Tower Crane market. Allied Market Research fosters a highly efficient team of experts, strategists, analysts, and industry specialists who provide proper frameworks and approaches to make efficient decisions. Their systematic analysis and insights help executives steer through their critical priorities with utmost confidence.
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 46.4% share of the global tower crane market. The meticulous scrutiny of the countless forces influencing the dynamics of the market, guides business ventures in understanding various consumer schemes & proposals. The clients then happen to utilize perspectives to perk up customer experience in the fast-paced business milieu.
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The frontrunners in the industry
The major market players analyzed in the global Tower Crane market report comprise Action Construction Equipment Ltd., ENG CRANES Srl, JASO Tower Cranes, Liebherr-International AG, Manitowoc Company, Inc., SANY Global, Sarens n.v./s.a., Terex Corporation, WOLFFKRAN International AG, and Zoomlion Heavy Industry Science & Technology Co., Ltd. These players have brought forth an array of different stratagems, which take in new alliances, development, partnership, joint collaboration, and others to sustain their stand in the sector.
Analysis of the Covid-19 scenario-
Outbreak of the Covid-19 pandemic has had a preposterous impact on the lives of people. Most of the business verticals across the world were highly affected. The Tower Crane market report doles out a compact overview of the Covid-19 impact on the industry. Moreover, it takes in a micro- and macro-economic impact assessment. The report further cites the market extent and share as one of the major impacts of the pandemic. At the same time, it offers a detailed overview of the influence of COVID-19 on the Tower Crane market supply chain.
Last but not the least; the market report focuses on the key approaches incorporated by the industry players throughout the global health crisis. In a nutshell, the Tower Crane market report offers an overview of pre- as well as post-Covid-19 impact exploration.
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Tower Crane Market Segments
- Luffing Jib
- Hammer Head
- Flat Top
By Lifting Capacity
- Less than 5 ton
- 6 to 10 ton
- More than 10 ton
By End User Industry
- Building Construction
- Infrastructural Construction
Key Findings Of The Study
- By type, the flat top segment dominated the tower crane market share in 2020.
- By lifting capacity, the 6 to 10-ton segment is expected to generate high revenue, globally.
- By application, the construction segment garnered major share of the tower crane market in 2020.
- By region, Asia-Pacific dominated the market in 2020.
- By region, LAMEA is expected to witness a high growth rate during the forecast period.
The major queries answered in the report are given below:
- Who are the frontrunners active in the global Tower Crane market?
- What is the dominant scenario of the market?
- What are the existing drifts & leanings that would possibly determine the global Tower Crane market study in the next few years?
- What are the driving factors, limitations, and opportunities in the industry?
- What are the probable forecasts for the future that would help in coming up with further strategic steps to propel the growth of the market?
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