China Crane Market Report 2021: Market Size will be Valued at $245 Billion by 2027

Dublin, Oct. 28, 2021 (GLOBE NEWSWIRE) -- The "China Crane Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.

China crane market size will be valued at USD 245 billion, growing at a compound annual growth rate (CAGR) of 3.21% by volume during 2021-2027

The report considers the present scenario of the China crane market and market dynamics for the forecast period 2021-2027. It covers a detailed overview of several growth enablers, restraints, and trends in the market. The study includes the volume and value sales with a segment analysis of the China crane market.

The rental market in the China crane industry is gaining high momentum as increasing proportions are being bought by crane rental companies from domestic players in China. The shift in intelligent systems driven by IoT and data analysis for service, networking, and sustainability, the crane market is transitioning to a more innovative industry.

The increasing demand for cranes is attributed to investments by favorable government policies and foreign multinationals are doubling down on their investments in China.

VENDOR LANDSCAPE

Vendors in the China crane industry are innovating new technologies to grow in the market. Manufacturers and end-use industries are focusing on developing more fuel-efficient, technologically sophisticated machinery to enhance construction to create heavy demand in the China crane industry.

Players holding the majority of the market share have their manufacturing facilities in China. They rely primarily on local distributors and dealers for the sale of cranes. Vendors are investing in developing smart crane technology that enables automated safety features, telematics, IoT, and remote monitoring capabilities.

WHY SHOULD YOU BUY THIS REPORT?

This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:

• Volume (Unit sales)

• Crane Type

• Application

• Gross Power

• Value (USD)

• Crane Type

• Application

• Gross Power

• Gain competitive intelligence about the economic scenario, advantages in China major projects and investments, market dynamics, market share

• Examples of latest technologies

• Get presentation-ready format and easy-to-interpret data

• Enable decision-makers to make informed and profitable choices

• Gain expert quantitative and qualitative analysis on value/volume growth projections of the China crane market share

• Complete supply chain analysis

• Get COVID-19 impact analysis of the market

• Company Profile of 10 key vendors and 5 other prominent vendors

CHINA CRANE MARKET OUTLOOK

• In China, the demand for mobile cranes is rising substantially as China's mobile crane market is the world's largest market for mobile cranes.

• In recent years, the contractors are changing from smaller tower cranes to medium ones of 18t - 20t capacity, which in turn, the tower cranes are gaining high traction in China.

• Demand for large-tonnage crawler cranes and truck cranes is rising to rush to construct wind power.

• The crane industry is expected to be pushed by China's ambitious project of investing heavily in infrastructure growth, including railways, roads and highways, airports, and ports.

KEY HIGHLIGHTS FROM THE REPORT

• The China crane market is expected to show incremental growth of 37,817 units from 2020-2027.

• The increasing demand for cranes is attributed to investments by favorable government policies, and foreign multinationals are doubling down on their investments in China.

Major Vendors

• XCMG Group

• SANY Group

• Zoomlion

• Manitex

• Tadano

• Manitowoc

• Kobelco Construction Machinery

• Konecranes

• Liebherr

• Terex Corporation

Other Prominent Vendors

• Link-Belt Cranes

• Kato Works Co. Ltd.

• American Crane & Equipment Corp. (ACE)

• China Communications Construction

• FUWA Heavy Industry Machinery

For more information about this report visit https://www.researchandmarkets.com/r/82h1oa

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