With the emergence and long-term Impact of COVID-19, Global Crane and Hoist Market to reach USD xx billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Crane and Hoist Market points towards a potential rise to USD xx billion by 2030. Crane and hoist are essential mechanical equipment designed to lift and move heavy loads, playing a crucial role in various industries and construction projects. A crane is a complex machine equipped with cables, pulleys, and a hoist, allowing for the vertical and horizontal movement of loads. The hoist is the component responsible for lifting and lowering the load, typically using a drum or a lift wheel with a chain or wire rope.
The key factors driving the market are rising investment in infrastructure projects, growing mining industry, expansion of manufacturing and industrial sectors, and growing oil and gas exploration activity that is anticipated to support the market growth.
Geographically, the global Crane and Hoist market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). North America dominated the market in 2022 owing to the rising demand from the automotive and construction industries, the growing energy & power industry, and increasing investments in renewable energy generation. Whereas, the Asia Pacific is expected to grow with the highest CAGR over the forecast period, owing to factors such as the growing investment in infrastructure development, increasing construction projects, and growing demand in the mining, and oil and gas industries.
The global Crane and Hoist market is highly competitive owing to the presence of several key players such as Tadano Ltd. (Japan) The Manitowoc Company, Inc. (US) Zoomlion Heavy Industry Science & Technology Co., Ltd. (China) Terex Corporation (US) PALFINGER AG (Austria) Columbus McKinnon Corporation (US) KOBE STEEL, LTD. (Japan) XCMG Group (China) Sumitomo Heavy Industries, Ltd. (Japan) ABUS Kransysteme GmbH (Germany), and others.
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Key findings of the study suggest:
- Global Crane and Hoist Market is anticipated to grow with a healthy growth rate of more than xx% over the forecast period 2023-2030.
- In the Type segment, Mobile emerged out as the leading market segment in 2022.
- North America is anticipated to drive regional growth owing to rising demand from the automotive and construction industries in the region.
- Asia Pacific is expected to grow at higher rate owing to growing investment in infrastructure development in the region.
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- Mobile
- Fixed
By Operation:
- Hydraulic
- Electric
- Hybrid
By Industry:
- Construction
- Shipping & Material Handling
- Automotive & Railway
- Aerospace & Defense
- Energy & Power
- Mining
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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