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.
Browse over XX market data Figures
spread through 180 Pages and an in-depth TOC on "Grab Crane Market.
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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