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(Construction.IndustryNews247.Com, April 27, 2018 ) The use of mobile cranes in construction sector is predicted to account for the highest share during the forecast period. The construction sector of all the regions are experiencing a huge growth particularly, in the emerging economies worldwide. Also, the governments of developed nations are investing in renovation of their ageing infrastructure. For instance, the US president announced an initiative named as ‘Rebuild America’ to reconstruct the old infrastructure including roads, airports, rails and ports.
According to a new market research study titled ‘Mobile Crane Market to 2025 – Global Analysis and Forecasts by Crane Type and Application’, the global mobile crane market was valued at US$ 8.32 Bn in 2016 and is estimated to reach US$ 9.82 Bn by 2025. The report highlights the trends prevalent in the global Mobile Crane market and the factors driving the market along with those that act as deterrents to its growth.
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Mobile Crane market by crane type is segmented into All-Terrain Cranes, Crawler Cranes, Truck Cranes, Rough Terrain Cranes and others. On the basis of applications, the mobile crane market is segmented into construction, oil & gas, power & utilities, shipping & port building and others. The mining industry utilizes this massive equipment for the extraction of raw materials in an open cast mining environment. Despite of the sluggish growth of Mobile Crane market in past few years, it is predicted to showcase some growth in its development in the following years. The growth in mining industry is highly influenced by the collaborations and partnerships initiated in Mobile Crane market.
Since the turn of century, escalation in infrastructure investment is considered to be one of the most critical sources of rising consumer demand. This rise in the investment and the desire of the potential investors to capitalize into this industry has grown stronger over the years. The specialist investors across the globe in recent years have come up with a wide array of developed as well as developing infrastructure such as the water companies of UK and airports in Australia comprising of broad range of energy, telecom and port infrastructure in between. Also, the government across the globe are taking up initiatives to boost the growth of investment in infrastructural development. Owing to several developing countries in the Asia Pacific region coupled with the rapidly increasing population and significant investments made by the governments of various economies for their infrastructure development, the demand for mobile cranes is expected to increase in the APAC region. The developing economies including China, India and Southeast Asian countries are witnessing a growth in FDIs for the development of infrastructure in the region. This is due to various government’s approach to attract FDIs. This would further propel the demand for heavy construction machineries including mobile cranes. Also, owing to massive industrialization in the region, the demand for equipment with high capacity lifting is increasing in the region.
The overall Mobile Crane market size has been derived using both primary and secondary source. The research process begins with an exhaustive secondary research using internal and external sources to obtain qualitative and quantitative information related to the market. Also, primary interview were conducted with industry participants and commentators in order to validate data and analysis.
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The participants who typically take part in such a process include industry expert such as VPs, business development managers, market intelligence managers and national sales managers, and external consultant such as valuation experts, research analysts and key opinion leaders specializing in the Mobile Crane market.
The key players profiled in the Mobile Crane market report are:
Terex Corporation XCMG Construction Machinery Co., Ltd. Kobelco Construction Machinery Co., Ltd. The Manitowoc Company, Inc. Liebherr-International S.A. Tadano Ltd. Zoomlion Heavy Industry Science and Technology Co. Ltd. Sany Heavy Industry Co., Ltd. Kato Works Co. Ltd. Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
The Insight Partners
Sameer Joshi
+91 9666111581
sam@theinsightpartners.com
Source: EmailWire.Com
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