Tower Crane Market was valued at US$ 5.32 Bn. in 2021 and expected to grow at a CAGR of 8.2% during the forecast period (2022-2029)

Tower Crane Market Overview :

The market overview of the Tower Crane Market industry focuses on the detailed dynamics of the market, including aspects such as industry rivalry. The report provides comprehensive market revenue forecasts at the global, regional, segment, and national levels.

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Tower Crane Market Report Scope and Research Methodology :

The research methodology employed in the report on the Tower Crane market incorporates both primary and secondary research methods. Primary research involves data collection directly from the market via surveys, interviews, and observations. In contrast, secondary research entails gathering data from published sources, such as industry reports, company websites, and news articles.

The analysis provided in the report serves as a guide for stakeholders, investors, market players, and followers, as well as new entrants, by providing them with an overall view of the Tower Crane market for formulating investment approaches and marketing tactics. The report utilizes a bottom-up approach to estimate the size of the Tower Crane market, which involves aggregating data from individual segments to arrive at a total market size estimate.

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Tower Crane Market Regional Insights :

The market is segmented by region into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa. Additionally, the report identifies the top countries in each region and provides market forecasts for each one.

Segmentation :

The flat-top and hammer-head segments of the global tower crane market are based on product type. The market for flat-top towers, which was estimated at US$ 9.2 million in 2021, is the largest in the world. Compact heads and mobile cabs are features of flat-top cranes. Due to their excellent design, they are also less expensive and simpler to install. They are also quick, safe, and much easier to erect. These elements get more and more attention from the world market.

The global market for tower cranes is divided into three categories based on lifting capacity: below 10 MT, between 10 and 50 MT, and above 50 MT. The segment with a market share of between 10 and 50 MT accounted for nearly half of all sales globally in 2021. The weight is lifted by flat-top, hammerhead tower cranes, which have a maximum lifting capacity of around 18 MT. It is appropriate for oil and gas, mining, and port operations, among other activities, hence this market is anticipated to expand at a CAGR of 6.9% over the course of the forecast year.

The global tower crane market is divided into two end-user segments, construction and building and harbour and ports. With a share of 52% in 2021, the construction and building segment dominated the market. Tower cranes are mostly used to hoist massive steel components, acetylene torches, and generators on construction sites. It contributes to a reduction in labour costs and time. Tower cranes are quite popular in the building and construction industry because to these uses.

Key Players :

• XCMG Group
• Shandong Huaxia Group Co Ltd
• Shandong Dahan Construction Machinery Co
• Manitowoc
• Yongmao Holdings Limited
• LIEBHERR
• HKTC
• Favelle Favco BHD
• Guangxi Construction Engineering Group Ltd
• Sichuan Construction Machinery Co
• Zhejiang Construction Machinery Group Co., Ltd.
• Zoomlion Heavy Industry Science & Technology Co., Ltd
• Wolffkran International
• Terex Corporation
• Fangyuan Group Co. Ltd

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Key questions answered in the Tower Crane Market are:

• What is Tower Crane?
• What are the factors driving the Tower Crane Market growth?
• What are the factors are limiting the Tower Crane Market growth?
• What was the Tower Crane market size in 2021?
• Which trends are expected to generate additional revenue for the Tower Crane market growth?
• What are the recent industry trends that can be implemented to generate additional revenue streams for the Tower Crane Market?
• What growth strategies are the players considering to increase their foothold in the Tower Crane Market?
• Who held the largest market share in the Tower Crane Market?

Key Offerings:

• Past Market Size and Competitive Landscape (2018 to 2021)
• Past Pricing and price curve by region (2018 to 2021)
• Market Size, Share, Size & Forecast by different segment | 2022−2029
• Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation – A detailed analysis by segment with their sub-segments and Region

Competitive Landscape – Profiles of selected key players by region from a strategic perspective

• Competitive landscape – Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER’s analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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