A crane is a mechanical system built to lift and move loads via a hook suspended from a movable arm. Construction industry often uses cranes that are needed for anchoring or subject to ballast. Almost in all designs, the moment is generally several times greater at the base than at the top of crane. The main intention behind this arrangement is to have the center of gravity of the system located at the base and so the center of mass enables the system to remain in balance.
In the cranes tower, the load lifted must be movable and this action is done by a trolley along the boom to reach the counterweight in the counter boom at a fixed distance in regards to the tower. This mode of operation limits the weight which can be lifted by making it dependent on the distance and this limitation is related to the balance generated by the counterweight, ballast and load.
The key driving factors responsible for the growth of tower crane market includes rising demand for fuel-efficient and advanced tower crane with cost-effective performance and greater safety. Companies involved in construction sector globally are now switching to fuel-efficient equipment as it enhances fuel savings rendering into low carbon emission. Additionally, government policies with reference to carbon emission level are anticipated to augment the use of advanced tower cranes during the forecast period.
On the basis of application, the global tower crane market is segmented into road building, mining and construction. Construction sector witnesses a double-digit growth during the forecast period owing to increase in construction activities. On the basis of end-user, the global tower crane market is segmented into infrastructure sector, residential sector and commercial sector. Infrastructure sector dominates the global market during the forecast period followed by residential and commercial sectors. Huge investments by governments made in urban infrastructure projects also contribute to the growth of segment.
On the basis of geographic segmentation, the global tower crane market spans North America, Latin America, Europe, Southeast Asia, China and India. Southeast Asia is expected to witness a higher CAGR growth during the assessment period owing to growth in construction and mining activities. North America and Europe is anticipated to grow at a higher CAGR owing to use of advanced techniques for construction in residential as well as commercial sectors.
The key players in the global tower crane market professional survey report include Liebherr, WOLFFKRAN, Terex, HKTC, XCMG Group, Zoomlion, Shandong Dahan Construction Machinery, Weihai Guheng, Jianglu Machinery & Electronics, SY group, Guangxi Corporation, Huaxia, Fushun Yongmao, Weihai Huata, and Sichuan Construction Machinery.