The France crane market size will be valued at USD 1.5 billion and to reach a volume of 5566 units by 2027, growing at a compound annual growth rate (CAGR) of 3.67% by volume during 2021-2027
The increasing demand for cranes is attributed to investments by developed countries, favorable government policies and FDIs, upcoming industrial developments in the construction industries, and government initiatives such as Grand Paris Project and the upcoming 2024 Olympic games. By switching to intelligent systems driven by IoT and data analysis for service, networking and sustainability, the crane market is transitioning to a more innovative industry.
During the forecast period, the increase in private and government investments in new development and construction projects to provide improved infrastructural facilities is expected to boost the crane market growth in France. Vendors such as KOBELCO have developed a new crawler crane equipped with a system for improving fuel consumption and reducing CO2 emissions. Players in the crane industry in France are focusing on innovative technologies to intensify the competition.
For instance, Palfinger Marine, an Austrian deck equipment manufacturer, has been awarded a contract to supply 71 fixed boom cranes to build the 500-MW Fecamp offshore wind farm in French waters.
FRANCE CRANE MARKET OUTLOOK
In 2021, France crane market reached a volume of 4483 units and is expected to reach 5566 units by 2027.
Cranes have intelligent service panels that help operators diagnose and rectify problems more rapidly, fueling the usage of cranes across France.
The Grand Paris Project and the 2024 Olympic Games in Paris are likely to drive the crane industry.
Several proposals to develop and modernize major airports in France, with an estimated expenditure of USD 1.3 billion, are expected to boost the crane industry.
In France, the rental business is growing rapidly. With most OEMs offering rental services in this space, most of the crane rental market in France is dominated by unorganized players.
KEY HIGHLIGHTS FROM THE REPORT
In 2019, France imported USD 539 million in cranes, making it the world's fourth-largest importer.
The 101-200 tons crane market in France was estimated at 1,691 units in 2020 and is expected to reach 2,122 units by 2027, growing at a CAGR of 3.53% during the period.
Over the previous 3-4 years, the French market for cranes has grown, fueled by government initiatives such as the Macron law.
Cranes used in the construction industry accounted for the largest share of around 50.1%.
FRANCE CRANE MARKET - SEGMENTATION ANALYSIS
The mobile crane market in France by value is expected to reach USD 502 million by 2027, growing at a CAGR of 4.04% during the forecast year.
The demand for crawler cranes is largely driven due to increased investment in both building and civil engineering. The crawler crane industry in France by value is expected to reach USD 63.1 million by 2027.
Truck cranes are smaller, less versatile, and used for lifting lighter loads (load capacity limit of about 45 tons) and are highly demanded in the France market.
France fixed crane industry is expected to reach USD 962.7 million by 2027, growing at a CAGR of 3.27%.
Tower cranes are used to build tall structures such as skyscrapers. The construction sector in France is driving demand for tower cranes, and the France tower crane market is expected to reach USD 318.8 million by 2027.
Manitex International, Inc.
Kobelco Construction Machinery (KCME)
Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
Other Prominent vendors
American Crane & Equipment Corp. (ACE)
Zoomlion Heavy Industry
Broderson Manufacturing Corp
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For more information about this report visit https://www.researchandmarkets.com/r/xaaybx
View source version on businesswire.com: https://www.businesswire.com/news/home/20211021005477/en/
Laura Wood, Senior Press Manager
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