The Reports and Insights, a leading market research company, has recently releases report titled “Tower Crane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032.” The study provides a detailed analysis of the industry, including the global Tower Crane Market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Tower Crane market?

The global tower crane market was valued at US$ 20.4 Billion in 2023, and is expected to register a CAGR of 4.6% over the forecast period and reach US$ 30.6 Bn in 2032.

What is Tower Crane?

A tower crane is a heavy-duty construction crane typically mounted at the top of tall structures or buildings to assist in lifting and moving materials and equipment during construction. These cranes are characterized by their vertical mast and horizontal jib, which can rotate 360 degrees, allowing them to cover a wide area. Tower cranes are essential for high-rise construction projects, as they can lift heavy loads to great heights with precision and efficiency, helping to streamline the construction process.

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What are the growth prospects and trends in the Tower Crane industry?

The tower crane market growth is driven by various factors and trends. The tower crane market is a vital component of the construction industry, propelled by the need for tall buildings and urban infrastructure expansion. These cranes play a crucial role in lifting heavy materials to considerable heights, aiding in the efficient execution of construction projects. The market comprises diverse types of tower cranes, including flat top, hammerhead, and luffing jib cranes, each serving specific construction requirements. Factors like technological innovations, urbanization, and the development of the construction sector in emerging markets are key drivers of growth in the tower crane market. Hence, all these factors contribute to tower crane market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Crane Type

  • Hammerhead Tower Cranes
  • Luffing Jib Tower Cranes
  • Self-Erecting Tower Cranes
  • Flat Top Tower Cranes

By Capacity

  • Up to 5 Tons
  • 5 to 20 Tons
  • 20 to 50 Tons
  • Above 50 Tons

By End-Use Industry

  • Residential Construction
  • Commercial Construction
  • Infrastructure
  • Industrial

By Region:

  • North America
  • Asia-Pacific
  • Europe
  • Latin America
  • Middle East
  • Africa

Who are the key players operating in the industry?

The report covers the major market players including: 

  • Liebherr Group
  • Manitowoc Cranes, LLC
  • Terex Corporation
  • Zoomlion Heavy Industry Science and Technology Co., Ltd.
  • XCMG Group
  • COMANSA
  • Wolffkran International AG
  • Favelle Favco Group
  • Potain (Manitowoc)
  • Yongmao Holdings Limited
  • Raimondi Cranes
  • Linden Comansa
  • Saez Cranes
  • Peiner SMAG Machinery (PSM)
  • WOLFFKRAN International AG

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