Technavio's global rough-terrain crane market research report projects the market to grow at a CAGR of about 3% during the forecast period.
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Technavio has released a new market research report on the global rough-terrain crane market for the period 2018-2022. (Graphic: Business Wire)
The popularity of high-capacity rough-terrain cranes will be one of the major trends in the global rough-terrain crane marketduring 2018-2022. Over the last two years, there has been an increase in the demand for high-capacity rough-terrain cranes due to the growth of industrial and energy applications. The rough-terrain cranes are ideally suited for applications that involve the lifting and maneuvering of heavy modular components. Many manufacturing vendors such as Manitowoc and Tadano offer rough-terrain cranes with capacities over 120 tons.
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According to Technavio analysts, one of the key drivers for the global rough-terrain crane market is the rapid growth of utilities infrastructure:
Global rough-terrain crane market: Rapid growth of utilities infrastructure
Over the last few years, the growth of the global utilities infrastructure has been promoting the growth of the global rough-terrain crane market. The developed markets such as the US and Western Europe are witnessing rapid growth in the renewable utilities infrastructure. For instance, in 2017, the US witnessed substantial investments in wind power, solar power, and hydropower infrastructure.
According to a seniorresearch analyst at Technavio, "In 2017, several emerging economies in APAC such as China and India made investments in the utilities sector. The Chinese government is investing in domestic and overseas renewable infrastructure as a part of its 13th Five-Year Plan. During 2016-2020, China is planning to reduce its energy intensity by 15%."
Global rough-terrain crane market: Segmentation analysis
This global rough-terrain crane market analysis report provides market segmentation by lifting capacity (50-80 tons, below 50 tons, and above 80 tons) and by region (the Americas, APAC, and EMEA). This report also provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major segments based on lifting capacity, the 50-80 tons segment held the largest rough-terrain crane market share in 2017, contributing to around 45% of the market. This segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for more than 52% share. It was followed by APAC and EMEA respectively. The Americas is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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