Market Revenue Crane Industry worth 3.2 billion USD by 2022

Crane Industry worth 3.2 billion USD by 2022
Crane industry the economic meltdown of last decade increased costs
of production leading to reduces profit margins for many companies.
Technological advancements in higher capacity cranes led to increased
competition among top players thus eliminating some mid-sized
companies and small players.
Global crane market constitutes a major part of the global construction equipment industry. They can
be categorized into marine cranes, mobile cranes and fixed cranes on the basis of their outreach, load-
lifting capabilities and lift height. Global crane market is undergoing a change owing to growth of
emerging economies and increase in demand for infrastructure industry. Cranes are used to transport
different types of load at construction sites and have widespread applications in upcoming modern
infrastructure projects. Global mobile crane market is expected to witness a steady growth over 7%
in the next seven years on account of increasing government investments in construction projects.
Transformation of urban areas into smart cities is expected to drive growth in the crane market in the
forecast period. Incorporating efficient systems such as traffic management system and smart grids
will have a positive impact on the development leading to augmented demand for mobile cranes in
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