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Tower Crane Market by End-user and Geography - Forecast and Analysis 2022-2026

  • Published: Apr 2022
  • Pages: 137
  • SKU: IRTNTR73244
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The tower crane market share is expected to increase by USD 1.06 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.87%.

This tower crane market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers tower crane market segmentation by end-user (infrastructure, residential, and commercial) and geography (APAC, North America, Europe, Middle East and Africa, and South America). The tower crane market report also offers information on several market vendors, including Action Construction Equipment Ltd., Fangyuan Group Co. Ltd., FMGru srl, Hyundai Everdigm Corp., Konecranes Plc, Liebherr International AG, Linden Comansa S.L., Muhibbah Engineering (M) Bhd, Raimondi Cranes SpA, SANY Group, Shandong Dahan Construction Machinery Co. Ltd., Sichuan Construction Machinery Group Co. Ltd., Terex Corp., The Manitowoc Co. Inc., Toppower General Trading LLC, WOLFFKRAN International AG, Xuzhou Construction Machinery Group Co. Ltd., Yongmao Construction Machinery Co. Ltd., Zhejiang Huba Construction Machinery Co. Ltd., and Zoomlion Heavy Industry Science and Technology Co. Ltd. among others.

What will the Tower Crane Market Size be During the Forecast Period?

Tower Crane Market Size

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Tower Crane Market: Key Drivers, Trends, and Challenges

The increasing demand for high-rise buildings is notably driving the tower crane market growth, although factors such as extremely volatile construction industry may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the tower crane industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Tower Crane Market Driver

One of the key factors driving the global tower crane market growth is the increasing demand for high-rise buildings due to rapid urbanization. According to the United Nations (UN), by 2050, urbanization and the growth of the global population could increase the urban populations by another 2.5 billion, with close to 90% of the increase concentrated in Asia and Africa. Tower cranes are used for construction in closed and compact spaces and high-rise buildings due to their operational efficiencies. For instance, Mosaic Construction, which is based in Australia, received a new Potain Hup 32-27, a self-erecting crane that was sent to Cyan, a residential construction project in Caloundra, Queensland. Moreover, rapid growth in urbanization, especially in developing countries, will lead to a rise in the number of megacities, which will drive the market growth during the forecast period.

Key Tower Crane Market Trend

Introduction of luffing jib tower cranes is one of the key tower crane market trends that is expected to impact the industry positively in the forecast period. Luffing jib tower cranes are used in large projects and to install industrial equipment, which requires large lifting capacity, high landing accuracy, and high safety. These cranes provide extended reach and require room for slewing motions and improve operational efficiency when a number of cranes are working on high-rise buildings and power plant sites at the same time. Many prominent vendors such as WOLFFKRAN, Liebherr Group, Zoomlion Heavy Industry Science and Technology, and Terex offer luffing jib tower cranes. 

Key Tower Crane Market Challenge

One of the key challenges to the global tower crane market growth is the extremely volatile construction industry. The growth of the global tower crane market relies on construction activities, which are extremely volatile. Hence, multiple subfactors such as oil prices and high-interest rates will have an impact on the global tower crane market. For instance, in 2022, the oil price increased due to the war between Russia and Ukraine. During the COVID-19 period, the market was severely affected due to the fall of the construction industry. Hence, the volatility of the construction industry could affect the growth of the global tower crane market during the forecast period.

This tower crane market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global tower crane market as a part of the global construction machinery and heavy trucks market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the tower crane market during the forecast period.

Who are the Major Tower Crane Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, including:

 

  • Action Construction Equipment Ltd.
  • Fangyuan Group Co. Ltd.
  • FMGru srl
  • Hyundai Everdigm Corp.
  • Konecranes Plc
  • Liebherr International AG
  • Linden Comansa S.L.
  • Muhibbah Engineering (M) Bhd
  • Raimondi Cranes SpA
  • SANY Group
  • Shandong Dahan Construction Machinery Co. Ltd.
  • Sichuan Construction Machinery Group Co. Ltd.
  • Terex Corp.
  • The Manitowoc Co. Inc.
  • Toppower General Trading LLC
  • WOLFFKRAN International AG
  • Xuzhou Construction Machinery Group Co. Ltd.
  • Yongmao Construction Machinery Co. Ltd.
  • Zhejiang Huba Construction Machinery Co. Ltd.
  • Zoomlion Heavy Industry Science and Technology Co. Ltd.

 

This statistical study of the tower crane market encompasses successful business strategies deployed by the key vendors. The tower crane market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

  • Action Construction Equipment Ltd. - The company offers tower cranes that are rugged, dependable, and cost-effective for big civil construction and erection jobs.
  • Action Construction Equipment Ltd. - Under the cranes segment, the company offers cranes for different processes and discrete industries like oil and gas, power, civil engineering, construction, and petrochemical industries to lift and transport heavy materials.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The tower crane market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Tower Crane Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the tower crane market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Tower Crane Market?

Tower Crane Market Market segmentation by region

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45% of the market's growth will originate from APAC during the forecast period. China and Japan are the key markets for tower cranes in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The significant increase in investments in infrastructure projects by governments and private companies will facilitate the tower crane market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

The industrial activities in the region were adversely affected in 2020, owing to the outbreak of the COVID-19 pandemic. Stringent lockdowns and social distancing regulations pushed many infrastructure development projects to come to a temporary halt. However, in 2021, after the vaccination drive government lifted the lockdown and travel restrictions. After this, most construction activities resumed back to normal with proper COVID-19 precautions. Moreover, governments across the region are expected to pour investments into infrastructure development, which is expected to drive the growth of the market in focus during the forecast period.

What are the Revenue-generating End-user Segments in the Tower Crane Market?

Tower Crane Market Segmentation

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The tower crane market share growth by the infrastructure segment will be significant during the forecast period. The growth is attributed to the significant increase in the investments in multiple construction projects in countries such as India, China, Singapore, Hong Kong, and Thailand.

This report provides an accurate prediction of the contribution of all the segments to the growth of the tower crane market size and actionable market insights on post COVID-19 impact on each segment.

 

Tower Crane Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 5.87%

Market growth 2022-2026

$ 1.06 billion

Market structure

Fragmented

YoY growth (%)

5.26

Regional analysis

APAC, North America, Europe, Middle East and Africa, and South America

Performing market contribution

APAC at 45%

Key consumer countries

US, China, Japan, Germany, and UK

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Action Construction Equipment Ltd., Fangyuan Group Co. Ltd., FMGru srl, Hyundai Everdigm Corp., Konecranes Plc, Liebherr International AG, Linden Comansa S.L., Muhibbah Engineering (M) Bhd, Raimondi Cranes SpA, SANY Group, Shandong Dahan Construction Machinery Co. Ltd., Sichuan Construction Machinery Group Co. Ltd., Terex Corp., The Manitowoc Co. Inc., Toppower General Trading LLC, WOLFFKRAN International AG, Xuzhou Construction Machinery Group Co. Ltd., Yongmao Construction Machinery Co. Ltd., Zhejiang Huba Construction Machinery Co. Ltd., and Zoomlion Heavy Industry Science and Technology Co. Ltd.

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

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What are the Key Data Covered in this Tower Crane Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive tower crane market growth during the next five years
  • Precise estimation of the tower crane market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the tower crane industry across APAC, North America, Europe, Middle East and Africa, and South America
  • A thorough analysis of the market's competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of tower crane market vendors

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1 Executive Summary

  • 1.1 Market overview
    • Exhibit 01: Executive Summary – Chart on Market Overview
    • Exhibit 02: Executive Summary – Data Table on Market Overview
    • Exhibit 03: Executive Summary – Chart on Global Market Characteristics
    • Exhibit 04: Executive Summary – Chart on Market by Geography
    • Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
    • Exhibit 06: Executive Summary – Chart on Incremental Growth
    • Exhibit 07: Executive Summary – Data Table on Incremental Growth
    • Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

  • 2.1 Market ecosystem
    • Exhibit 09: Parent market
    • Exhibit 10: Market Characteristics

3 Market Sizing

  • 3.1 Market definition
    • Exhibit 11: Offerings of vendors included in the market definition
  • 3.2 Market segment analysis
    • Exhibit 12: Market segments
  • 3.3 Market size 2021
    • 3.4 Market outlook: Forecast for 2021-2026
      • Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
      • Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
      • Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

    4 Five Forces Analysis

    • 4.1 Five forces summary
      • Exhibit 17: Five forces analysis - Comparison between2021 and 2026
    • 4.2 Bargaining power of buyers
      • Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026
    • 4.3 Bargaining power of suppliers
      • Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026
    • 4.4 Threat of new entrants
      • Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026
    • 4.5 Threat of substitutes
      • Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026
    • 4.6 Threat of rivalry
      • Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026
    • 4.7 Market condition
      • Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

    5 Market Segmentation by End-user

    • 5.1 Market segments
      • Exhibit 24: Chart on End-user - Market share 2021-2026 (%)
      • Exhibit 25: Data Table on End-user - Market share 2021-2026 (%)
    • 5.2 Comparison by End-user
      • Exhibit 26: Chart on Comparison by End-user
      • Exhibit 27: Data Table on Comparison by End-user
    • 5.3 Infrastructure - Market size and forecast 2021-2026
      • Exhibit 28: Chart on Infrastructure - Market size and forecast 2021-2026 ($ million)
      • Exhibit 29: Data Table on Infrastructure - Market size and forecast 2021-2026 ($ million)
      • Exhibit 30: Chart on Infrastructure - Year-over-year growth 2021-2026 (%)
      • Exhibit 31: Data Table on Infrastructure - Year-over-year growth 2021-2026 (%)
    • 5.4 Residential - Market size and forecast 2021-2026
      • Exhibit 32: Chart on Residential - Market size and forecast 2021-2026 ($ million)
      • Exhibit 33: Data Table on Residential - Market size and forecast 2021-2026 ($ million)
      • Exhibit 34: Chart on Residential - Year-over-year growth 2021-2026 (%)
      • Exhibit 35: Data Table on Residential - Year-over-year growth 2021-2026 (%)
    • 5.5 Commercial - Market size and forecast 2021-2026
      • Exhibit 36: Chart on Commercial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 37: Data Table on Commercial - Market size and forecast 2021-2026 ($ million)
      • Exhibit 38: Chart on Commercial - Year-over-year growth 2021-2026 (%)
      • Exhibit 39: Data Table on Commercial - Year-over-year growth 2021-2026 (%)
    • 5.6 Market opportunity by End-user
      • Exhibit 40: Market opportunity by End-user ($ million)

    6 Customer Landscape

    • 6.1 Customer landscape overview
      • Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

    7 Geographic Landscape

    • 7.1 Geographic segmentation
      • Exhibit 42: Chart on Market share by geography 2021-2026 (%)
      • Exhibit 43: Data Table on Market share by geography 2021-2026 (%)
    • 7.2 Geographic comparison
      • Exhibit 44: Chart on Geographic comparison
      • Exhibit 45: Data Table on Geographic comparison
    • 7.3 APAC - Market size and forecast 2021-2026
      • Exhibit 46: Chart on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 47: Data Table on APAC - Market size and forecast 2021-2026 ($ million)
      • Exhibit 48: Chart on APAC - Year-over-year growth 2021-2026 (%)
      • Exhibit 49: Data Table on APAC - Year-over-year growth 2021-2026 (%)
    • 7.4 North America - Market size and forecast 2021-2026
      • Exhibit 50: Chart on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 51: Data Table on North America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 52: Chart on North America - Year-over-year growth 2021-2026 (%)
      • Exhibit 53: Data Table on North America - Year-over-year growth 2021-2026 (%)
    • 7.5 Europe - Market size and forecast 2021-2026
      • Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
      • Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
      • Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)
    • 7.6 Middle East and Africa - Market size and forecast 2021-2026
      • Exhibit 58: Chart on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 59: Data Table on Middle East and Africa - Market size and forecast 2021-2026 ($ million)
      • Exhibit 60: Chart on Middle East and Africa - Year-over-year growth 2021-2026 (%)
      • Exhibit 61: Data Table on Middle East and Africa - Year-over-year growth 2021-2026 (%)
    • 7.7 South America - Market size and forecast 2021-2026
      • Exhibit 62: Chart on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 63: Data Table on South America - Market size and forecast 2021-2026 ($ million)
      • Exhibit 64: Chart on South America - Year-over-year growth 2021-2026 (%)
      • Exhibit 65: Data Table on South America - Year-over-year growth 2021-2026 (%)
    • 7.8 US - Market size and forecast 2021-2026
      • Exhibit 66: Chart on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 67: Data Table on US - Market size and forecast 2021-2026 ($ million)
      • Exhibit 68: Chart on US - Year-over-year growth 2021-2026 (%)
      • Exhibit 69: Data Table on US - Year-over-year growth 2021-2026 (%)
    • 7.9 China - Market size and forecast 2021-2026
      • Exhibit 70: Chart on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 71: Data Table on China - Market size and forecast 2021-2026 ($ million)
      • Exhibit 72: Chart on China - Year-over-year growth 2021-2026 (%)
      • Exhibit 73: Data Table on China - Year-over-year growth 2021-2026 (%)
    • 7.10 Japan - Market size and forecast 2021-2026
      • Exhibit 74: Chart on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 75: Data Table on Japan - Market size and forecast 2021-2026 ($ million)
      • Exhibit 76: Chart on Japan - Year-over-year growth 2021-2026 (%)
      • Exhibit 77: Data Table on Japan - Year-over-year growth 2021-2026 (%)
    • 7.11 Germany - Market size and forecast 2021-2026
      • Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
      • Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
      • Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)
    • 7.12 UK - Market size and forecast 2021-2026
      • Exhibit 82: Chart on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 83: Data Table on UK - Market size and forecast 2021-2026 ($ million)
      • Exhibit 84: Chart on UK - Year-over-year growth 2021-2026 (%)
      • Exhibit 85: Data Table on UK - Year-over-year growth 2021-2026 (%)
    • 7.13 Market opportunity by geography
      • Exhibit 86: Market opportunity by geography ($ million)

    8 Drivers, Challenges, and Trends

    • 8.1 Market drivers
      • 8.2 Market challenges
        • 8.3 Impact of drivers and challenges
          • Exhibit 87: Impact of drivers and challenges in 2021 and 2026
        • 8.4 Market trends

          9 Vendor Landscape

          • 9.1 Overview
            • 9.2 Vendor landscape
              • Exhibit 88: Overview on Criticality of inputs and Factors of differentiation
            • 9.3 Landscape disruption
              • Exhibit 89: Overview on factors of disruption
            • 9.4 Industry risks
              • Exhibit 90: Impact of key risks on business

            10 Vendor Analysis

            • 10.1 Vendors covered
              • Exhibit 91: Vendors covered
            • 10.2 Market positioning of vendors
              • Exhibit 92: Matrix on vendor position and classification
            • 10.3 Action Construction Equipment Ltd.
              • Exhibit 93: Action Construction Equipment Ltd. - Overview
              • Exhibit 94: Action Construction Equipment Ltd. - Business segments
              • Exhibit 95: Action Construction Equipment Ltd. - Key offerings
              • Exhibit 96: Action Construction Equipment Ltd. - Segment focus
            • 10.4 Fangyuan Group Co. Ltd.
              • Exhibit 97: Fangyuan Group Co. Ltd. - Overview
              • Exhibit 98: Fangyuan Group Co. Ltd. - Business segments
              • Exhibit 99: Fangyuan Group Co. Ltd. - Key offerings
              • Exhibit 100: Fangyuan Group Co. Ltd. - Segment focus
            • 10.5 Liebherr International AG
              • Exhibit 101: Liebherr International AG - Overview
              • Exhibit 102: Liebherr International AG - Product / Service
              • Exhibit 103: Liebherr International AG - Key news
              • Exhibit 104: Liebherr International AG - Key offerings
            • 10.6 Muhibbah Engineering (M) Bhd
              • Exhibit 105: Muhibbah Engineering (M) Bhd - Overview
              • Exhibit 106: Muhibbah Engineering (M) Bhd - Business segments
              • Exhibit 107: Muhibbah Engineering (M) Bhd - Key offerings
              • Exhibit 108: Muhibbah Engineering (M) Bhd - Segment focus
            • 10.7 Terex Corp.
              • Exhibit 109: Terex Corp. - Overview
              • Exhibit 110: Terex Corp. - Business segments
              • Exhibit 111: Terex Corp. - Key news
              • Exhibit 112: Terex Corp. - Key offerings
              • Exhibit 113: Terex Corp. - Segment focus
            • 10.8 The Manitowoc Co. Inc.
              • Exhibit 114: The Manitowoc Co. Inc. - Overview
              • Exhibit 115: The Manitowoc Co. Inc. - Business segments
              • Exhibit 116: The Manitowoc Co. Inc. - Key news
              • Exhibit 117: The Manitowoc Co. Inc. - Key offerings
              • Exhibit 118: The Manitowoc Co. Inc. - Segment focus
            • 10.9 WOLFFKRAN International AG
              • Exhibit 119: WOLFFKRAN International AG - Overview
              • Exhibit 120: WOLFFKRAN International AG - Business segments
              • Exhibit 121: WOLFFKRAN International AG - Key offerings
              • Exhibit 122: WOLFFKRAN International AG - Segment focus
            • 10.10 Xuzhou Construction Machinery Group Co. Ltd.
              • Exhibit 123: Xuzhou Construction Machinery Group Co. Ltd. - Overview
              • Exhibit 124: Xuzhou Construction Machinery Group Co. Ltd. - Product / Service
              • Exhibit 125: Xuzhou Construction Machinery Group Co. Ltd. - Key offerings
            • 10.11 Zhejiang Huba Construction Machinery Co. Ltd.
              • Exhibit 126: Zhejiang Huba Construction Machinery Co. Ltd. - Overview
              • Exhibit 127: Zhejiang Huba Construction Machinery Co. Ltd. - Business segments
              • Exhibit 128: Zhejiang Huba Construction Machinery Co. Ltd. - Key offerings
              • Exhibit 129: Zhejiang Huba Construction Machinery Co. Ltd. - Segment focus
            • 10.12 Zoomlion Heavy Industry Science and Technology Co. Ltd.
              • Exhibit 130: Zoomlion Heavy Industry Science and Technology Co. Ltd. - Overview
              • Exhibit 131: Zoomlion Heavy Industry Science and Technology Co. Ltd. - Business segments
              • Exhibit 132: Zoomlion Heavy Industry Science and Technology Co. Ltd. - Key news
              • Exhibit 133: Zoomlion Heavy Industry Science and Technology Co. Ltd. - Key offerings
              • Exhibit 134: Zoomlion Heavy Industry Science and Technology Co. Ltd. - Segment focus

            11 Appendix

            • 11.1 Scope of the report
              • 11.2 Inclusions and exclusions checklist
                • Exhibit 135: Inclusions checklist
                • Exhibit 136: Exclusions checklist
              • 11.3 Currency conversion rates for US$
                • Exhibit 137: Currency conversion rates for US$
              • 11.4 Research methodology
                • Exhibit 138: Research methodology
                • Exhibit 139: Validation techniques employed for market sizing
                • Exhibit 140: Information sources
              • 11.5 List of abbreviations
                • Exhibit 141: List of abbreviations

              Research Framework

              Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

              TechnavioINFORMATION SOURCES

              Primary sources

              • Manufacturers and suppliers
              • Channel partners
              • Industry experts
              • Strategic decision makers

              Secondary sources

              • Industry journals and periodicals
              • Government data
              • Financial reports of key industry players
              • Historical data
              • Press releases
              Technavio

              TechnavioDATA ANALYSIS

              Data Synthesis

              • Collation of data
              • Estimation of key figures
              • Analysis of derived insights

              Data Validation

              • Triangulation with data models
              • Reference against proprietary databases
              • Corroboration with industry experts
              Technavio

              TechnavioREPORT WRITING

              Qualitative

              • Market drivers
              • Market challenges
              • Market trends
              • Five forces analysis

              Quantitative

              • Market size and forecast
              • Market segmentation
              • Geographical insights
              • Competitive landscape
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              Tower Crane Market market growth will increase by $1.06 bn during 2022-2026.
              The tower crane market market is expected to grow at a CAGR of 5.87% during 2022-2026.
              Technavio has segmented the tower crane market market by end-user (Infrastructure, Residential, and Commercial) and geography (APAC, North America, Europe, Middle East and Africa, and South America).
              Action Construction Equipment Ltd., Fangyuan Group Co. Ltd., FMGru srl, Hyundai Everdigm Corp., Konecranes Plc, Liebherr International AG, Linden Comansa S.L., Muhibbah Engineering (M) Bhd, Raimondi Cranes SpA, SANY Group, Shandong Dahan Construction Machinery Co. Ltd., Sichuan Construction Machinery Group Co. Ltd., Terex Corp., The Manitowoc Co. Inc., Toppower General Trading LLC, WOLFFKRAN International AG, Xuzhou Construction Machinery Group Co. Ltd., Yongmao Construction Machinery Co. Ltd., Zhejiang Huba Construction Machinery Co. Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd. are a few of the key vendors in the tower crane market market.
              APAC will register the highest growth rate of 45% among the other regions. Therefore, the tower crane market market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
              The key factors driving the tower crane market market growth are:
              • increasing demand for high-rise buildings
              • Introduction of luffing jib tower cranes
              The tower crane market market vendors should focus on grabbing business opportunities from the infrastructure segment as it accounted for the largest market share in the base year.
              • What are the key global market and the regional market share?
              • What are the revenue-generating key market segments?
              • What are the key factors driving and challenging this market’s growth?
              • Who are the key market vendors and their growth strategies?
              • What are the latest trends influencing the growth of this market?
              • What are the variables influencing the market growth in the primary regions?
              • What are the factors influencing the growth of the parent market?
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