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Covina, United States: Tower Crane Market, By Product (Fast-Erecting, Hammer Head Cranes, Luffing Jib Cranes, Self-Erecting Cranes, and Mobile Cranes), By Capacity (Up to 5 Tons, 5 to 10 Tons, 10 to 20 Tons, 20 to 50 Tons, and Above 50 Tons), By Design (Top Slewing and Bottom Slewing), By End-Use (Building and Construction, Residential, Infrastructure, Civic Infrastructure, Marine and Sea Ports, Mining, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) – Trends, Analysis and Forecast till 2029
Tower cranes are a contemporary type of balance crane that are employed in the construction of big structures and are fixed to the ground on a concrete platform. The primary driving force for the target market is the increase in repair and rehabilitation projects for both new and existing infrastructure. For instance, the global infrastructure asset base, which consists of 43,000 airports, 33 million kilometres (km) of roads, and 1.2 billion fixed-line connections, has been built over the past several decades thanks to investments totaling trillions of US dollars, according to data from The World Economic Forum Organization published in 2014. A tower crane, on the other hand, takes more time to erect. However, these devices are user-friendly, energy-efficient, and have the advantage of an effective load carrying capacity, which is generating profitable chances for the expansion of the target market.
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Key Segmentation of the Tower Crane market:
The global Tower Crane market accounted for US$ 4.3 billion in 2020 and is estimated to be US$ 7.16 billion by 2030 and is anticipated to register a CAGR of 5.4%. The global Tower Crane market is segmented based on product, capacity, design, end user, and region.
The Tower Crane Market Report mentions the following promising regions:
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The prominent player operating in the global Tower Crane market includes HKTC, Kroll Cranes A/S, Liebherr, Linden Comansa, Manitowoc, Raimondi, Sany Group, Terex Corporation, XCMG, Zoomlion Heavy Industry Science & Technology Company Ltd.
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