One of the most important markets for lattice cranes is the offshore oil and gas industry. Demand for lattice cranes market is rising as a result of increased oil exploration. In 2018, it’s anticipated that firms like Equinor and others will drill appraisal and exploration wells. The demand for heavy lifting equipment is anticipated to increase significantly as a result of these projects, offering significant opportunity for lattice crane manufacturers.
Global Shift towards Renewable Sources of Energy to Become Major Drivers
There is a shift witnessed from non-renewable energy sources to renewable offshore sources such as wind power. This has further risen the number of wind turbines being build, thereby increasing the demand for heavy lifting equipment such as lattice cranes. For instance, Liebherr has delivered lattice cranes for the wind farm foundation installation vessel built by China Merchants Heavy Industry. The lattice cranes by Liebherr would also be used for the installation of monopiles, mono buckets, and jackets for wind turbines.
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Leading Regions across the Globe Project Elevating Demand for Lattice Cranes
The market for lattice cranes is spread across seven major regions in the world, where the demand for lattice cranes is analyzed on from a global perspective. The increasing demand for lattice cranes is observed in leading and developed regions that are involved in oil production and the ones that are focusing on investing in offshore renewable energy sources.
Crane rental companies are increasingly placing orders for state-of-the-art lattice cranes provided by key manufacturers to enable business expansions in the local market. For example, a crane rental company in Russia, TOPKRAN, placed an order for the mobile and crawler cranes provided by Liebherr which included a lattice cranes, and telescopic cranes with 220 to 1350 tonnes of lifting capacity. The order was worth 42 million euros, and was a part of TOPKRAN’s aim to expand its fleet with the increasing demand from the Russian market.
Moreover, major projects in Europe, such as Grand Paris, in France illustrate the demand growth projected by the European country. The major growth drivers in France also include the upcoming civil projects and the massive 2024 Olympics. Player such as Sarens focus on harnessing these opportunities as it plans to increase the local fleet by 20 percent in the next five years and focus on the emphasize on services in France.
Companies Providing Lattice Cranes to Accelerate Business with Increasing Product Demand
The key providers of lattice cranes are harnessing the increasing demand for lattice cranes market from the end user segments. With the increasing demand, there is a scope of development for the manufacturers of lattice cranes. The major players contributing their product offerings to the lattice cranes market include Link-Belt Cranes, Terex Corporation, PLM Cranes B.V., Prangl Gesellschaft GmbH, Kobe Steel, Ltd., Sarens N.V./ S.A., Patrick Fabricating and Welding, The Liebherr Group, Techcrane International, LLC., Manitowoc Crane Group, Gulf Crane Services & Manufacturing, and TTS Group ASA.
Link-Belt Cranes, provider of lattice cranes market introduced its new lattice crawler crane. The new 348 Series 2 lattice cranes are equipped with a dynamic control. The lattice cranes have various attributes and features that would make it an ultimate choice for marine and oil rig end use segments.
The Ramagundam Fertilizer Plant chose Sarens for supplying lifting heavy equipment for assisting the construction of the plant. The company has imported a Demag lattice boom crawler crane for the project that involves the construction of a new urea and ammonia plant.
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Terex Corporation received an order for its lattice cranes for renovating the motorway bridge on the A1 at Eppelborn, Germany. Terex Corporatino was considered by for this purpose by the crane operating company, Steil Kranarbeiten, as the company offers effective lattice cranes.
The research study on lattice cranes market highlights a detailed assessment of the overall market. It comprises of in-depth insights, historical and factual data, and industry-validated and statistically-supported data that provides a better understanding of the lattice cranes market. The lattice cranes market report includes predictions using adequate set of assumptions and methodologies. The research report on lattice cranes market provides evaluations and data based on regions, technology, market segments, and applications.
The report on the market of lattice cranes comprises a thorough market analysis on:
- Segments of lattice cranes market
- Lattice cranes Market Influencers
- Lattice cranes Market Size
- Supply and Demand
- Latest trends and challenges in the lattice cranes market
- Major manufacturers of Lattice cranes
- Value Chain
- Technology
Geographical assessment includes:
- North America Market of Lattice cranes focusing on Canada and US.
- Latin America Lattice cranes Market comprising Mexico, Brazil, and Rest of Latin America.
- Western Europe Lattice cranes Market that includes Germany, Italy, U.K, France, Nordic countries, Netherlands, Spain, Luxembourg, Belgium, and Rest of Western Europe.
- Eastern Europe Market of Lattice cranes including Poland, Russia, and Rest of Eastern Europe.
- Asia Pacific Market of Lattice cranes including China, India, ASEAN, Australia & New Zealand.
- Japan Lattice cranes Market
- Middle East and Africa Lattice cranes Market-GCC, South Africa, and Rest of MEA.
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The lattice cranes market research study is a glance of first-hand information gained by analyzing the market in a qualitatively and quantitatively. This data is obtained with the help of research analysts, experts in the industry and participants across the value chain. The detailed assessment of the trends in the parent market, macro-economic metrics, factors governing the market, and market attractiveness according to segments are all included in the report. The lattice cranes market study also hints the influence of the several factors on the regions and market segments.
The report on lattice cranes market illustrates:
- Detailed overview of Parent Market
- Changing Dynamics of Lattice cranes Market
- Thorough Market Classification
- Market Valuation with respect to Volume and Value: Current, Historical and Projected Data
- Latest industrial trends and developments
- Competitive Landscape
- Major Players- Strategies and Product offerings
- Geographies and Potential and Niche Segments that exhibit promising growth
- Neutral perspective of Market Performance
- Necessary information for Companies to help improve and sustain their presence in the market
Lattice Cranes Market Division Showcasing Prominent Segments in the Market
The lattice cranes market is classified according to key metrics including capacity and application.
Based on capacity, the lattice cranes market is segmented into three key segments up to:
- 500mt
- Between 500-3000mt
- Above 3000mt
According to the application, the lattice cranes market is segmented into
- Oil rig cranes
- Marine Cranes
- Others.
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