Fixed Crane Market to Reach USD 15.77 billion by 2026; Increasing Usage of Telematics to Accelerate Growth

The global fixed crane market size is projected to reach USD 15.77 billion by 2026. It is set to gain traction from the ever-increasing utilization of telematics in the construction equipment sector. Telematics possess numerous benefits, such as improved productivity, asset allocation, reduced fuel consumption, and easy repair & maintenance schedules. Many fixed crane manufacturers worldwide are equipping their systems with telematics as they are aiding the users in gaining real-time operational data for ensuring maximum efficiency. Fortune Business Insights™ provided this information in a recent report, titled, “Fixed Crane Market Size, Share & Industry Analysis, By Type (Overhead Crane, Tower Crane, and Others), By Application (Construction, Oil & Gas, Ship Building, Power & Utilities and Others) and Regional Forecast, 2019-2026.” The report further mentions that the market stood at USD 10.26 billion in 2018. However, it is likely to exhibit a CAGR of 5.6% during the forecast period between 2019 to 2026.

Manitowoc to Introduce Potain Hup M 28-22 at Dach + Holz International

In January 2020, the Manitowoc Company, a provider of comprehensive, advanced, and innovative lifting solutions, based in the U.S., declared that it would utilize its opportunity at the Dach + Holz International 2020 to unveil its Potain Hup M 28-22 crane. It is a self-erecting model that is specially designed to cater to the needs of the German market. It consists of 80 km/h transport axle that makes it suitable for road transport. In Bauma, in April 2019, the concept of this model was first previewed. It also has exclusive remote control software called Potain Smart Set-up that makes it easy to dismantle and erect.

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Rising Demand for Commercial & Residential Infrastructure to Boost Growth

Nowadays, the governments and private sectors are investing hefty amount of money in the construction of public infrastructure, as well as residential and commercial buildings. In 2018, the Institute of Civil Engineers based in London, stated that the construction market worldwide is anticipated to reach approximately USD 8 trillion by the end of 2030. It will be mainly driven by India, China, and the U.S. Besides, in the Latin American and Asian countries, rapid urbanization is set to propel the demand for residential infrastructure. Coupled with this, the increasing foreign direct and regional investments would aid the fixed cranes market growth in the near future. However, the availability of cost-effective equipment may hinder the market growth.

Key Companies Focus on Winning Contracts from Others to Strengthen Position

The market houses numerous big, medium, and small companies that are currently engaging in bagging new contracts from other industry giants to deliver their state-of-the-art fixed cranes for helping in the construction of various projects. Manitowoc, for instance, is opting for strategic developments to enhance consumer satisfaction and the value addition of stakeholders.

Fortune Business Insights™ presents a list of all the companies operating in this market. They are as follows:

• SANY GROUP


• Sarens n.v. /s.a.


• Manitowoc


• Terex Corporation


• Zoomlion Heavy Industry Science & Technology Co., Ltd.


• XCMG Group


• ABUS Kransysteme GmbH


• GORBEL INC.


• GH CRANES & COMPONENTS


• EMH, Inc.


• KITO Corp.


• Columbus McKinnon Corporation  


• Weihua Overseas Business Co., Ltd.


• FAVELLE FAVCO BERHAD

Significant Industry Developments-

• February 2020: Sarens, a producer of heavy lifting and engineered transport equipment headquartered in Belgium, delivered its four innovative cranes to HZI-Makyol for its energy-from-waste (EfW) power plant in Istanbul.


• February 2020: Potain, the Manitowoc brand of tower cranes, introduced its latest hydraulic luffing jib crane called MRH 175. It will be exhibited at the CONEXPO 2020.


• October 2019: The engineers of Sarens developed the next-generation system to install various props for the Lee Tunnel project. The project is owned by Thames Tideway and is worth £627 million.

Further Report Findings-

• Asia Pacific held USD 4.71 billion in terms of market revenue in 2018 owing to the rising investments in the construction and reconstruction activities.


• The market in North America is anticipated to grow considerably backed by the development of new public transport infrastructure.


• Based on application, the power & utilities segment held 24.2% fixed cranes market share in 2018 stoked by the surging investments by local and government agencies to widen their business operations.

This market can be segmented in the following way: