Tower Crane Market Key Players Analysis and Their Business Strategies Till 2031

Due to COVID-19’s recessionary effects on the construction industry, demand for tower cranes decreased in 2020, which slowed down sales of both new and rented tower cranes. The building industry has, with the exception of a few nations, picked up its pace again after the second quarter of the fiscal year. The market for tower cranes has a bright prognosis for both short- and long-term growth notwithstanding the industry’s current recovery mode. Till 2031, the tower crain market is anticipated to expand at a CAGR of 4.8%.

The research report analyzes demand for tower crane. The global tower crane market has been analyzed upon covid-19 impact, macroeconomic factors, market trends & market background. As per FMI’s research scope, the market has been analyzed on the basis of applications, customers & regions. The report gives us qualitative and quantitative information on various players in this market. Also, this report tracks the market by both supply side and demand side.

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Key Takeaways from Tower Cranes Market Study

• Following negative returns amid COVID-19, the tower crane market is forecast to register a little below 4% Y-o-Y growth in 2021
• The U.S. will continue accounting for maximum sales in North America, holding over 85% of regional market share
• The U.K. market is likely to register 3.7% Y-o-Y growth in 2021 backed by recovering construction activities
• The demand from Germany and France will account for considerable sales within Europe
• China will emerge dominant in East Asia, while Japan and South Korea markets will continue exhibiting growth at a positive pace

Tower Crane Market Segment Analysis:

By Lifting Capacity

• Up to 5 Tons
• 5 to 10 Tons
• 10 to 20 Tons
• 20 to 30 Tons
• 50 to 250 Tons

By Design

• Top Slewing
• Bottom Slewing

By Product Types

• Self-Erecting
• Hammer Head Cranes
• Luffing Jib Cranes
• Mobile Cranes

By End-Use

• Building & Construction
• Civic infrastructure
• Marine & Sea Ports
• Mining
• Others

By Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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Product Synopsis

A recent market study published by FMI on the Tower Crane market includes global industry analysis for 2016-2020 & opportunity assessment for 2021-2031, and delivers a comprehensive assessment of the most important market dynamics. After conducting thorough research on the historical and current growth parameters of the Tower Cranes market, the growth prospects of the market are obtained with maximum precision.

Competitive Landscape

The tower crane market is moderately competitive, with presence of large number of players operating in the market. Some of the players are focusing to carve a niche for specific demography. The market has been benefiting from robust partnerships with high focus on innovations. This has led to a series of tower crane launches in the last few years.

For instance:

• In 2020, Potain launched a tower crane focusing on home building and high-rise.
• Comansa has recently launched the largest crane, called 21CM750, manufactured at its plant in Hangzhou

Some of the leading companies operating in the market are:

• Zoomlion Heavy Industry Science & Technology Company Ltd.
• Xuzhou Construction Machinery Group Co., Ltd.
• Liebherr
• Terex Corporation
• Manitowoc
• Sany Group
• Action Construction Equipments
• Konecranes
• Raimondi
• Comanasa S.A.

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