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Tower Crane Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

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    Report

  • 143 Pages
  • May 2023
  • Region: Global
  • IMARC Group
  • ID: 5820806
Description Jump to:
The global tower crane market size reached US$ 7.0 Billion in 2022. Looking forward, the publisher expects the market to reach US$ 9.6 Billion by 2028, exhibiting a growth rate (CAGR) of 5.1% during 2023-2028.

A tower crane is a machine capable of lifting heavy goods, such as steel, concrete, large tools like acetylene torches and generators, and other building materials with minimum human assistance. It comprises a base, mast, slewing unit, working and machinery arm, hook and trolley, and operator cab. It is also equipped with a maximum load limit and a load-moment limit switch to prevent the tower crane from overloading. In addition, it is fixed to the ground on a concrete slab and sometimes attached to the sides of different structures.

Tower Crane Market Trends:

With the rising technological advancements and improvements, tower cranes have become safer and more compact. This, in confluence with the increasing automation in the construction sector, represents one of the key factors impelling the growth of the market. Moreover, governing authorities of numerous countries are increasingly focusing on infrastructure development, which involves the construction of basic foundational services, such as buildings, bridges, dams, pipelines, road networks, ports, railways, and aqueducts. This, coupled with the rising utilization of tower cranes at construction sites of the residential, commercial, and industrial sectors, is positively influencing the market. Apart from this, the integration of anti-collision devices in tower cranes helps prevent collision with nearby structures, buildings, trees, and other tower cranes working in close vicinity. Remote crane operation also allows users to move from a dangerous and harsh working environment to the safety of a control room, which is propelling the market growth. Furthermore, the rising urbanization has accelerated the construction of high-rise and tall buildings around the world. These factors collectively are projected to strengthen the growth of the market in the upcoming years.

Key Market Segmentation:

The publisher provides an analysis of the key trends in each sub-segment of the global tower crane market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, lifting capacity and end use industry.

Breakup by Type:

  • Self-Erecting
  • Luffing Jib
  • Hammer Head
  • Flat Top

Breakup by Lifting Capacity:

  • Less than 5 Ton
  • 6 to 10 Ton
  • More than 10 Ton

Breakup by End Use Industry:

  • Building Construction
  • Infrastructural Construction
  • Energy
  • Others

Breakup by Region:

North America

  • United States
  • Canada

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others

Europe

  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others

Latin America

  • Brazil
  • Mexico
  • Others

Middle East and Africa


Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being Action Construction Equipment Ltd., Eng Cranes Srl, Favelle Favco Berhad (Muhibbah Engineering), HKTC, JASO Tower Cranes, Liebherr, Sany Heavy Industry Co. Ltd, Shandong Huaxia Group Co. Ltd., Terex Corporation, WOLFFKRAN International AG, Yongmao Holdings Limited and Zoomlion Heavy Industry Science and Technology Co. Ltd.

Key Questions Answered in This Report:

  • What was the size of the global tower crane market in 2022?
  • What is the expected growth rate of the global tower crane market during 2023-2028?
  • What are the key factors driving the global tower crane market?
  • What has been the impact of COVID-19 on the global tower crane market?
  • What is the breakup of the global tower crane market based on the type?
  • What is the breakup of the global tower crane market based on the lifting capacity?
  • What is the breakup of the global tower crane market based on end use industry?
  • What are the key regions in the global tower crane market?
  • Who are the key players/companies in the global tower crane market?

Table of Contents

1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Tower Crane Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Self-Erecting
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Luffing Jib
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Hammer Head
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Flat Top
6.4.1 Market Trends
6.4.2 Market Forecast
7 Market Breakup by Lifting Capacity
7.1 Less than 5 Ton
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 6 to 10 Ton
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 More than 10 Ton
7.3.1 Market Trends
7.3.2 Market Forecast
8 Market Breakup by End Use Industry
8.1 Building Construction
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Infrastructural Construction
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Energy
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Others
8.4.1 Market Trends
8.4.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 Action Construction Equipment Ltd.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.2 Eng Cranes Srl
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.3 Favelle Favco Berhad (Muhibbah Engineering)
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 HKTC
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.5 JASO Tower Cranes
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Liebherr
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.6.3 SWOT Analysis
14.3.7 Sany Heavy Industry Co. Ltd
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Shandong Huaxia Group Co. Ltd.
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.9 Terex Corporation
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.9.3 Financials
14.3.9.4 SWOT Analysis
14.3.10 WOLFFKRAN International AG
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.11 Yongmao Holdings Limited
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 Zoomlion Heavy Industry Science and Technology Co. Ltd.
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
List of Figures
Figure 1: Global: Tower Crane Market: Major Drivers and Challenges
Figure 2: Global: Tower Crane Market: Sales Value (in Billion US$), 2017-2022
Figure 3: Global: Tower Crane Market Forecast: Sales Value (in Billion US$), 2023-2028
Figure 4: Global: Tower Crane Market: Breakup by Type (in %), 2022
Figure 5: Global: Tower Crane Market: Breakup by Lifting Capacity (in %), 2022
Figure 6: Global: Tower Crane Market: Breakup by End Use Industry (in %), 2022
Figure 7: Global: Tower Crane Market: Breakup by Region (in %), 2022
Figure 8: Global: Tower Crane (Self-Erecting) Market: Sales Value (in Million US$), 2017 & 2022
Figure 9: Global: Tower Crane (Self-Erecting) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 10: Global: Tower Crane (Luffing Jib) Market: Sales Value (in Million US$), 2017 & 2022
Figure 11: Global: Tower Crane (Luffing Jib) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 12: Global: Tower Crane (Hammer Head) Market: Sales Value (in Million US$), 2017 & 2022
Figure 13: Global: Tower Crane (Hammer Head) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 14: Global: Tower Crane (Flat Top) Market: Sales Value (in Million US$), 2017 & 2022
Figure 15: Global: Tower Crane (Flat Top) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 16: Global: Tower Crane (Less than 5 Ton) Market: Sales Value (in Million US$), 2017 & 2022
Figure 17: Global: Tower Crane (Less than 5 Ton) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 18: Global: Tower Crane (6 to 10 Ton) Market: Sales Value (in Million US$), 2017 & 2022
Figure 19: Global: Tower Crane (6 to 10 Ton) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 20: Global: Tower Crane (More than 10 Ton) Market: Sales Value (in Million US$), 2017 & 2022
Figure 21: Global: Tower Crane (More than 10 Ton) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 22: Global: Tower Crane (Building Construction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 23: Global: Tower Crane (Building Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 24: Global: Tower Crane (Infrastructural Construction) Market: Sales Value (in Million US$), 2017 & 2022
Figure 25: Global: Tower Crane (Infrastructural Construction) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 26: Global: Tower Crane (Energy) Market: Sales Value (in Million US$), 2017 & 2022
Figure 27: Global: Tower Crane (Energy) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 28: Global: Tower Crane (Other End Use Industries) Market: Sales Value (in Million US$), 2017 & 2022
Figure 29: Global: Tower Crane (Other End Use Industries) Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 30: North America: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 31: North America: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 32: United States: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 33: United States: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 34: Canada: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 35: Canada: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 36: Asia-Pacific: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 37: Asia-Pacific: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 38: China: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 39: China: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 40: Japan: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 41: Japan: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 42: India: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 43: India: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 44: South Korea: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 45: South Korea: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 46: Australia: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 47: Australia: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 48: Indonesia: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 49: Indonesia: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 50: Others: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 51: Others: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 52: Europe: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 53: Europe: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 54: Germany: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 55: Germany: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 56: France: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 57: France: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 58: United Kingdom: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 59: United Kingdom: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 60: Italy: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 61: Italy: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 62: Spain: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 63: Spain: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 64: Russia: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 65: Russia: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 66: Others: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 67: Others: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 68: Latin America: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 69: Latin America: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 70: Brazil: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 71: Brazil: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 72: Mexico: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 73: Mexico: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 74: Others: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 75: Others: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 76: Middle East and Africa: Tower Crane Market: Sales Value (in Million US$), 2017 & 2022
Figure 77: Middle East and Africa: Tower Crane Market: Breakup by Country (in %), 2022
Figure 78: Middle East and Africa: Tower Crane Market Forecast: Sales Value (in Million US$), 2023-2028
Figure 79: Global: Tower Crane Industry: SWOT Analysis
Figure 80: Global: Tower Crane Industry: Value Chain Analysis
Figure 81: Global: Tower Crane Industry: Porter's Five Forces Analysis
List of Tables
Table 1: Global: Tower Crane Market: Key Industry Highlights, 2022 and 2028
Table 2: Global: Tower Crane Market Forecast: Breakup by Type (in Million US$), 2023-2028
Table 3: Global: Tower Crane Market Forecast: Breakup by Lifting Capacity (in Million US$), 2023-2028
Table 4: Global: Tower Crane Market Forecast: Breakup by End Use Industry (in Million US$), 2023-2028
Table 5: Global: Tower Crane Market Forecast: Breakup by Region (in Million US$), 2023-2028
Table 6: Global: Tower Crane Market: Competitive Structure
Table 7: Global: Tower Crane Market: Key Players

Companies Mentioned

  • Action Construction Equipment Ltd.
  • Eng Cranes Srl
  • Favelle Favco Berhad (Muhibbah Engineering)
  • HKTC
  • JASO Tower Cranes
  • Liebherr
  • Sany Heavy Industry Co. Ltd
  • Shandong Huaxia Group Co. Ltd.
  • Terex Corporation
  • WOLFFKRAN International AG
  • Yongmao Holdings Limited and Zoomlion Heavy Industry Science and Technology Co. Ltd.

Methodology

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Table Information

Report AttributeDetails
No. of Pages143
PublishedMay 2023
Forecast Period2022 - 2028
Estimated Market Value ( USD ) in 2022 $ 7 Billion
Forecasted Market Value ( USD ) by 2028 $ 9.6 Billion
Compound Annual Growth Rate5.4%
Regions CoveredGlobal
No. of Companies Mentioned11

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About the Tower Crane Market

Tower cranes are a type of crane used in the construction industry for lifting and moving materials. They are typically used in the construction of tall buildings, bridges, and other large structures. Tower cranes are typically mounted on a concrete base, and can be either fixed or mobile. They are typically operated by a crane operator, who is responsible for controlling the crane's movements and ensuring the safety of the workers and the materials being lifted. Tower cranes are an important part of the cranes and lifting equipment market, as they are used in a wide variety of construction projects. They are used to lift and move large and heavy materials, such as steel beams, concrete, and other building materials. Tower cranes are also used to move materials between different levels of a building, and to move materials from the ground to the top of a building. The tower crane market is highly competitive, with a number of manufacturers offering a wide range of products. Some of the leading companies in the market include Liebherr, Terex, Manitowoc, Zoomlion, and XCMG. Show Less Read more

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