Grab Crane Market to be dominated by Construction segment through 2028.

Infrastructure Development and Port and Shipping Industry Expansion to drive Global Grab Crane Market in the forecast period, 2023-2028.

According to TechSci Research report, “Global Grab Crane Market - By Region, Competition, Forecast & Opportunities, 2028”, Global Grab Crane Market is anticipated to grow at a 6.85% CAGR in the forecast period, 2024-2028. Infrastructure Development: Increased infrastructure development projects, such as ports, shipping terminals, and construction sites, drive the demand for grab cranes. These cranes are essential for handling materials like bulk cargo, construction debris, and more.

Growing Construction Industry: The construction industry's growth, particularly in emerging economies, requires efficient material handling equipment like grab cranes to move and transport heavy materials on construction sites.

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Based on End-User, Commercial Segment to Dominate the Market, the market's largest contribution will be the Construction Segment. Grab cranes are used in the construction industry for a variety of tasks, such as loading and unloading materials, handling concrete, and demolishing buildings. The construction segment is expected to be the second-largest end-user of grab cranes in the forecast period, due to the increasing demand for these cranes in the construction of skyscrapers, bridges, and other infrastructure projects.

Based on Region, Asia Pacific region is expected to dominate the market for Grab Crane during the forecast period. The Asia-Pacific region is expected to witness the fastest growth rate in the Grab Crane market, with China being the largest market. The rising demand for oil & gas and offshore renewable energy, especially in the Asia-Pacific region, is expected to gain considerable momentum. Countries such as China and India are some of the significant markets for offshore renewable energy developments in the region, along with substantial installations from offshore wind energy. In April 2021, Red Rock Marine AS signed a contract to deliver a 30T compact telescopic Grab Crane for the OHT offshore wind foundation installation vessel, Alfa Lift. The ship is currently being built at China's China Merchant Heavy Industry shipyard.

In December 2021, Huisman has been awarded a contract from COSCO Shipping (Qidong) Offshore to design and construct two 2,000 tonne capacity leg encircling cranes (LEC). The crane will be built at Huisman’s production facility in Zhangzhou, China. The cranes will be commissioned at COSCO’s shipyard in Qidong, China. Hence, owing to the above points, Asia-Pacific is expected to be the fastest-growing market for Grab Crane market during the forecast period.

Major companies operating in the Global Grab Crane market are:

• Liebherr Group
• Kenz Figee Group
• Heila Cranes SpA
• Huisman Equipment B.V.
• Cargotec Corporation
• Sparrows Offshore Group Limited
• Konecranes
• NOV Inc.
• The Manitowoc Company, Inc.
• Seatrax, Inc.

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“The global Grab Crane market is driven by several key factors that shape its growth and development. The global grab crane market is influenced by several key drivers that propel its growth and significance in various industries. These drivers collectively contribute to the market's expansion and evolution. First and foremost, the ongoing infrastructure development projects worldwide have a substantial impact on the grab crane market. Infrastructure development encompasses the construction of ports, bridges, roads, and other critical facilities, necessitating efficient material handling equipment like grab cranes for the movement of heavy and bulk materials. The thriving construction industry plays a pivotal role in the market's growth. As urbanization and population growth persist, there is a continuous demand for commercial and residential structures, which rely on grab cranes for material handling, contributing to the market's growth.

Furthermore, the expansion of the port and shipping industry significantly drives the demand for grab cranes. As international trade and cargo volumes increase, ports require efficient cargo handling solutions to expedite loading and unloading operations, enhancing overall productivity. In mining and quarrying, grab cranes are indispensable for excavating and transporting raw materials, such as minerals and ores, driving the market's growth further. Technological advancements, including automation features, enhanced safety systems, and improved control mechanisms, make grab cranes more attractive to industries seeking advanced material handling solutions. Moreover, global trade expansion, government initiatives to enhance transportation and infrastructure, and the need for waste management solutions all contribute to the grab crane market's positive trajectory. In conclusion, the global grab crane market is bolstered by a confluence of factors, including infrastructure development, construction industry growth, expansion of the port and shipping sector, technological innovations, and supportive government policies. These drivers collectively fuel the market's expansion and position grab cranes as essential equipment in various industries.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.

Grab Crane Market – Global Industry Size, Share, Trends, Opportunity, and ForecastSegmented by Type (Mobile, Compact, Boom, Telescopic), By Lifting Capacity (less than 50 Tonne, 50-100 Tonne, 100-500 Tonne, Above 500 Tonne), By End-users (Marine, Mining, Construction, Logistics), By Region, Competition, 2018-2028”, has evaluated the future growth potential of global Grab Crane market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision-makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in the global Grab Crane market.

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