The COVID-19 pandemic has disrupted the world and affected many industries. Get Detailed Impact Analysis of COVID-19 on the Tower Crane Market
PORTLAND, OR, USA, Jan 9, 2022 /EINPresswire.com/ – Tower cranes are mostly stationary and offer heavy lifting and handling operations at very high heights. These cranes consist of a vertical mast and an operating boom or arm, as well as other components including a counter-jib, operating cabin, slewing unit, winch lifting hook and hook, which help lift and maneuver heavy materials and goods efficiently. Tower cranes are mainly used in the construction of buildings and other structures due to the high demand for handling and transporting materials at high altitudes.
According to a new report released by Allied Market Research, titled “Tower Cranes Market by Type, Lifting Capacity, and Application: Global Opportunity Analysis and Industry Forecast, 2020-2027,” the Global Tower Crane Market Size round is expected to reach $ 9.9 billion. in 2028 compared to $ 6.6 billion in 2020, growing at a CAGR of 4.8% from 2021 to 2028.
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In addition, Asia-Pacific is the biggest contributor to the tower crane market. China holds the majority of the world share in the production and consumption of tower cranes. The Chinese company Zoomlion Heavy Industry Science & Technology Co., Ltd. is the largest tower crane manufacturer in the region. In addition, despite the pandemic, China recorded positive sales in 2020, compared to declining sales of tower cranes across the world. This is mainly due to the early response to the spread of COVID-19 infections and the provision of healthcare facilities for infected patients.
According to demand, the building construction industry is the main contributor to the growth in demand for tower cranes. Rapid urbanization and the need for high rise buildings especially to cope with increasing urban population is expected to drive the growth of tower crane market.
Key market players
Action Construction Equipment Ltd.
ENG GRUES Srl
JASO tower cranes
Liebherr International AG
Manitowoc Company, Inc.
SANY in the world
Sarens nv / sa
Zoomlion Heavy Industry Science & Technology Co., Ltd.
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The report provides in-depth analysis of current and emerging trends and dynamics of the global Tower Cranes market.
An in-depth analysis of the tower cranes market is performed by building market estimations for key market segments between 2019 and 2027.
Thorough market analysis is performed by tracking the positioning of key products and monitoring the major competitors within the framework of the market.
A comprehensive analysis of the Tower Cranes market opportunities of all the countries is also provided in the report.
The forecast analysis of the global tower cranes market from 2020 to 2027 is included in the report.
Major market players are presented in this report and their strategies are thoroughly analyzed which helps to understand the competitive outlook of the industry.
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Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
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