Asia-Pacific mobile cranes market is estimated to grow at a CAGR of 6.7% during the forecast period. Rising smart city initiatives are expected to offer an opportunity for market growth. As per the German Asia-Pacific Business Association, nearly 500 smart city pilot projects have already been running in China. Smart city initiatives are also growing in Japan, as the country’s government has upheld Society 5.0 which aims to promote the development of social values through digital implementations. Further, as per the Ministry of Housing and Urban Affairs, Government of India (Smart Cities Mission), in India, the total investment in the Smart Cities Mission is expected to be over $27 billion through 5,151 projects.
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This leads to increasing demand for tower cranes that are regarded as a new kind of balance crane. While fixed to the ground, this kind of crane will normally provide the best lifting and height capabilities. These cranes are also used while constructing tall buildings. These cranes require little setup and can deal with a range of terrain and particular site concerns as well as they are easy to get to the job site.
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Scope of the Asia-Pacific Mobile Cranes Market
Market Coverage
· Market number available for 2019-2026
· Base year- 2019
· Forecast period- 2020-2026
· Segment Covered- By Product Type and Application
· Regions Covered- China, India, Japan, and Rest of Asia-Pacific
· Competitive Landscape- Liebherr-International AG, Tadano Ltd., Sumitomo Heavy Industries, Ltd., and Konecranes
Recent Strategic Initiatives in the Asia-Pacific Mobile Cranes Market
· In February 2020, Tadano declared the release of three Rough Terrain Cranes for the international markets. Such cranes are designed for Asia, African, Central & South America, the Middle East, and Oceania markets. The names of these cranes include GR-1000EX-4, GR-900EX-4, and GR-700EX-4. GR-1000EX-4 has a maximum lifting capacity of 100 tons, GR-900EX-4 has a maximum lifting capacity of 90 tons, and GR-700EX-4 has a maximum lifting capacity of 70 tons. Such products have been designed to improved work area and performance as well as enhance safety and comfort in the workplace.
· In August 2019, Tadano Ltd. acquired the Demag Mobile Cranes business, which will bring together two crucial companies in the lifting equipment industry. This will increase the capability of Tadano group to deliver a premier choice to its customers. It widens its penetration into several markets across the globe, adds lattice boom crawler cranes to its entire product range, and augments the capacity range of its all-terrain cranes.
Asia-Pacific Mobile Cranes Market-Segmentation
By Product Type
· Truck Mounted Crane
· Crawler Crane
· Trailer Mounted Crane
By Application
· Construction
· Industrial
· Utility
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
