Tower crane is considered as a centerpiece
equipment in the construction industry. It is a modern crane that consists of
various basic parts. It consists of three main sections: base, tower mast and
slewing unit. It is used for the task of heavy lifting in constructional
purposes. It offers the facility of movement from all the directions. It can do
several movements such as jack- operation, slewing, self-erection, wire
twisting, climbing frame, smooth hoisting, self-climbing, and trolley
movement.
According to study, “Global
Tower Crane Market Information: by Type (Flat Top, Hammerhead),
Application (High Rise Building, Dam Building) and Region - Global Forecast
Till 2023” the key companies operating in the global tower crane market are
Manitowoc, Favelle Favco Berhad, Zoomlion Heavy Industry Science &
Technology, Liebherr Group, Terex Corp., Sarens n.v./s.a., Maxim Crane Works,
L.P., Mediaco, Action Construction Equipment Ltd., GRT Tower Cranes, Tiong Woon
Corporation Holding Ltd., Mammoet, E-Cranes, Construcciones Metalicas Comansa
S.A, Anupam Industries Limited. The key companies are involved in new product
introduction strategies to provide differentiated machines and address
fluctuating customer demand. Players are also integrating advanced technical
features into the new products to provide high performance & productivity
to application industries. Additionally, companies are proposing enhanced
customer support through sales representatives, distributors, and company sales
offices.
Based on product, tower crane market is
segmented into fixed and mobile. The fixed segment is sub-segmented into loader
crane, telescopic crane, stacker crane, hammerhead crane, self-erecting tower
crane, gantry crane, bulk handling crane, deck crane, jib crane, and level
luffing crane. The mobile segment is sub-segmented into railroad crane, harbor
crane, truck mounted crane, all terrain crane, carry deck crane, floating
crane, aerial crane, side lifter crane, crawler crane, pick & carry crane,
and telescopic crane. Based on capacity, market is segmented into up to 5 tons,
5 to 10 tons, 10 to 20 tons, 20 to 50 tons ad above 50 tons. Based on design,
market is segmented into top slewing and bottom slewing. Top slewing segment
dominate the market due to their suitability for medium to high-rise building
projects & longer duration needs. In addition, based on end-use, market is
segmented into building & construction, infrastructure, residential, marine
& sea ports, civic infrastructure, mining and others.
The tower crane market is driven by rise in
demand for tower crane rental units, followed by increase in global population
& rapid urbanization, growth in government support in the construction
sector, increase in development of high-rise commercial & residential
structures and rise in rate of operational efficiency. However, fluctuating
prices of raw materials and lack of availability of skilled labor may impact
the market. Moreover, rapid industrialization & urbanization in emerging
economies is a key opportunity for market.
Based on geography, the North-America region
dominates the tower crane market, followed by European region owing to increase
in construction of high-rise buildings and growth in demand for better
infrastructure in the regions. The Asian-Pacific region is estimated to witness
higher growth rate due to rise in investments in residential as well as
non-residential sectors over the forecast period. It is predictable that future
of the market will be bright on account of several ongoing & upcoming
infrastructure development projects.
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Ankur Gupta, Head Marketing &
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