Technavio analysts forecast the global wireless crane control systems (WCCS) market to grow at a CAGR of over 3% during the forecast period, according to their latest market research report.
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Technavio analysts forecast the global wireless crane control systems market to grow at a CAGR of over 3% by 2022. (Graphic: Business Wire)
The growth of crane rental services is one of the major trends being witnessed in the global wireless crane control systems market 2018-2022. Growing industrialization and investment in various infrastructural projects such as AI Maktoum Airport in Dubai, South-to-North Water Transfer Project in China, Crossrail Project in the UK, and the Rashtriya Rajmarg Zila Sanjoyokta Pariyojna in India have increased the demand for crane rental services.
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According to Technavio analysts, one of the key factors contributing to the growth of the global wireless crane control systems market is the operational benefits of WCCS:
Global wireless crane control systems market: Operational benefits of WCCS
WCCS is rapidly replacing wired control systems. The hassle-free means of data transfer has made WCCS adaptable. WCCS reduces the need for copper wires, thereby saving costs as the price of copper wires is increasing.
According to a senior analyst at Technavio, "Wired control systems involve high maintenance costs and encounter problem such as wear-and-tear, digging, and rodent damage. WCCS minimizes these drawbacks as these systems are easy to program and can be modified whenever required."
Global wireless crane control systems market: Segmentation analysis
The global wireless crane control systems market research report provides market segmentation by product (push button and joystick), by application (construction industry, automotive industry, mining industry, oil and gas industry, and others), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, push button and joystick, the push button segment held the largest market share in 2017, contributing to over 71% of the market. Rise in safety requirements by end-user industries to reduce casualties in the workplace is driving the global WCCS market by push button.
The APAC region held the largest share of the market in 2017, accounting for more than 38% share, followed by EMEA and APAC respectively. The growth of the region is attributed to the growing construction, automotive, and oil and gas industries. Moreover, the growth of the Chinese and Indian automotive industries in term of revenue will drive the APAC region.
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Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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