Market Revenue Crane Industry worth 3.2 billion USD by 2022 | Page 3

presence in EMEA, APAC and Americas with AAC dominating the market with the largest market share
followed by EMEA and Americas. Key factors that contribute towards the growth in these regions is
high demand for construction projects and industrial development attributed to large infrastructure
projects with a market share of over 47% In APAC, cranes, lifting and handling equipment market has
observed a market growth of over 5% in the past few years.
In 2013, China dominated the market with largest share with approximately 55% followed by Japan,
South Korea, India and Australia. China’s GDP growth rate is observed to be above the average growth
rate of developing economies. Rise in the demand is expected owing to policies adopted by the
Chinese government that account for short term quantitative easing, adjustments in liquidity and
expenditure on state owned companies. This in turn is expected to stimulate growth in the economy
due to which the demand for crane industry is expected to grow.
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Price and cost efficiency play a major role but the competitive advantage in the crane industry lies in
technological superiority. Indian manufacturers are associated with international majors in
technology. Increasing number of international firms are expected to enter the Indian market, with
investments soaring up in the construction segments. In North America, US is expected to record a
market growth of over 6% majorly with 85% market share attributed to recovery in the construction
industry. In the Latin American cranes industry, Brazil accounted for the highest share in the past few
years, followed by Mexico, Argentina and Colombia. Key market players include, Manitowoc,
Konecranes, XCMG Group., Liebherr-International, and Terex. Other prominent Vendors include
Badger Equipment, American Crane, Broderson, Link-Belt Construction, Kobelco Cranes and IHI
Construction Machinery.
Market Segment:
Geographically, this report is segmented into several key Regions, with production, consumption,
revenue (million USD), market share and growth rate of Crane in these regions, from 2012 to 2022
(forecast), covering
• North America
• Europe
• China