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Technavio’s market research analyst predicts that the mobile crane market in APAC will grow at a CAGR of more than 10% by 2020. Much of this growth can be attributed to the rapidly growing urban population in APAC, which leads to a rise in demand for public infrastructure and housing units.
Growing focus on the development and upgradation of existing infrastructure is the key driver for the growth of this market. Recently, it has been observed that the government in this region is planning to invest more than USD 1 trillion for the development of infrastructure projects. This increase in investment is anticipated to foster market growth during the forecast period.
The market for mobile cranes in APAC is anticipated to exhibit a great growth potential during the forecast period and is characterized by the presence of numerous international and local vendors. Since the level of competition in this market is high, vendors have to invest heavily in the R&D of new mobile cranes as it will help them to augment their revenue generating capacity.
The key companies in this market are -
The other prominent vendors analyzed in this market study are ACE Cranes, Guangxi LiuGong Machinery, IHI Construction Machinery, KATO Works, Kobelco Cranes, Kone Cranes, Link Belt, Manitowoc, Palfinger, Tadano, Terex, and UNIC.
Among all the countries in APAC, China is estimated to be the largest market for mobile cranes during the forecast period. The government of China’s focus on increasing the quality of the country’s existing infrastructure is a significant factor that results in this region’s high growth potential during the forecast period.
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Industry Overview
PART 06: Market landscape
PART 07: Key leading countries
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: Explore Technavio
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