Tower Crane Market Revenue to Exceed USD 8 billion by 2019

Global Tower Crane Market 2015 – 2019 is a new report available at ReportsnReports.com. The analysts estimate the increase in urban infrastructure projects, high rise building projects, and high rise residential apartment construction projects across globe to impel market growth.

January 4, 2016 /MarketersMedia/ —

According to the Global Tower Crane Market 2015 – 2019 report, the market is driven by many growth factors, one of which is the growth of high-rise building construction worldwide. Growing populations and the migration of people to urban areas have led to an increase in demand for new cities with efficient transport infrastructure facilities, which have resulted in a significant rise in the number of urban infrastructure projects across different countries. This has escalated demand for tower cranes. Consequently, this market is expected to generate revenue of more than USD 8 billion by 2019.

Browse data exhibits spread through 75 pages and in-depth TOC on “Global Tower Crane Market 2015-2019” at http://www.reportsnreports.com/reports/450189-global-tower-crane-market-2015-2019.html.

The growth of equipment rentals is one of the major trends. With the construction equipment industry being capital-intensive, many small firms are unable to invest heavily in advanced tower cranes; however, many vendors offer equipment on a rental basis. This is expected to lead to increased adoption of tower cranes.

Geographically, the APAC region is estimated to account for more than 45% of the total market share by 2019. Increasing investments in urban infrastructure projects across countries such as China, India, and Indonesia is expected to augment market growth in APAC during the forecast period.

End-user segmentation of the tower crane market: Infrastructure sector, Residential sector and Commercial sector
In this market analysis, the market research analyst has estimated the infrastructure segment to be the largest segment during the forecast period followed by the residential and commercial sectors. Huge investments made by the governments of several countries across world are expected to result in this segment’s high market share during the forecast period.

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Competitive landscape and key vendors
Competition in the market is continually increasing as end users are focusing more on manufacturers that have the ability to manufacture technologically advanced, eco-friendly tower cranes. The provision of financing options such as flexible monthly down payments, availability of rental services for customers who cannot afford expensive tower cranes, and lease of equipment on monthly, yearly, and daily basis is a critical factor that enhances vendor competition in this market during the forecast period.

The following companies are the key players in the Global Tower Crane Market: Favelle Favco, Liebherr, Saren Group, Terex and Zoomlion.

Other Prominent Vendors in the market are: Natraj Associates, ABUS Crane system, Shandong Dahan Construction Machinery, Linden Comansa America, KRHI, Hankook Tower Crane, Escorts Construction Equipment, Manitowoc Cranes, Jayem Manufacturing, Action Construction Equipment, and Jinan Dongyue Tower Crane Manufacturers.

Further, the report states that changing customer needs are one of the major challenges. Regardless of the customer usage of tower cranes, manufacturers are required to create features such as reduced carbon emissions, equipment suited for light construction work, and fuel efficiency, which are value additions to all customers.

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