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Albany, NY -- (SBWIRE) -- 02/14/2014 -- This report provides detailed market analysis, information, trends, issues and insights into the global cranes, lifting and handling equipment market, including:The regional and global cranes, lifting and handling equipment market’s growth prospects by category,Analysis of the Asia-Pacific, Middle East, North American, Latin American and European markets separately with country level data.
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Critical insight into the impact of the market through comparative analysis of country level data,Profiles of key companies operating in the cranes, lifting and handling equipment industry.
The global cranes, lifting and handling equipment market valued US$109.5 billion in 2011, of which the Asia-Pacific region constituted a 44.4% share, making it the largest regional market for cranes, lifting and handling equipment in the world. In the same year, Europe and North America were the second and third-largest regional markets, with 37.7% and 10.1% shares respectively. The continuing economic uncertainty in Europe and sluggish growth in the US are expected to reduce the market shares of these western regions. Growing economies such as China and India in particular are also expected to reduce the market shares of western regions, as rapid development of infrastructural, industrial, residential and commercial sectors in these regions are expected to increase the demand for construction equipment. The market shares of the European and North American regions are expected to be 32.6% and 8.5% respectively in 2016, a decline from shares in 2011, while the Asia-Pacific region is forecast to increase its share to 50.9% in the same year.
This report provides a comprehensive analysis of the cranes, lifting and handling equipment market globally:
Historical (2007-2011) and forecast (2012-2016) valuations of the cranes, lifting and handling equipment market in Asia-Pacific, the Middle East, Europe, North America and Latin America
Market values provided for Cranes and overhead lifting equipment, Mobile lifting frames, Overhead traveling cranes, Self-propelled lifting equipment (railed), Tower and pedestal jib cranes, Transporter, gantry and bridge cranes, Lifting trucks, Self-propelled forklift trucks, Self-propelled trucks with lifting or handling capability, Other forklift trucks, Lift and skip hoists, Electrical Lift and skip hoist, Non-electrical Lift and skip hoists, Winches, Elevators and conveyors, Pneumatic Elevators and conveyors, Continuous action Elevators and conveyors, Parts and accessories, Crane and forklift parts, Lift, skip hoist and escalator parts, Buckets, shovels, grabs and grips
Breakdown of values at the country level (44 countries)
Analysis of key events and factors driving the cranes, lifting and handling equipment market globally
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The global cranes, lifting and handling equipment market valued US$109.5 billion in 2011, of which the Asia-Pacific region constituted a 44.4% share, making it the largest regional market for cranes, lifting and handling equipment in the world.
In terms of growth, the global cranes, lifting and handling equipment market recorded a CAGR of 0.88% during the review period. The key contributor to this marginal growth rate was the decline in yearly growth rate by 18.5% in 2009.
The past decade witnessed unprecedented growth in the Chinese construction industry, increasing the demand for the cranes and material handling equipment. In response to the global financial crisis, the Chinese government introduced a CNY4.0 trillion (US$580 billion) stimulus package in 2008, with a large portion of this investment assigned to the development of public infrastructure.
Asia is a highly price-sensitive market. High import duties and registration laws relating to the import of new cranes led to the widespread use of second-hand cranes in Asia, particularly in India, Pakistan, Malaysia, Indonesia, Thailand, Taiwan and the Philippines.
The adoption of environmentally-friendly technologies and practices among manufacturing and distribution industries is increasing. The hydrogen fuel cell system is emerging as an alternative to traditional batteries. Hydrogen fuel-powered forklifts not only help to improve productivity but also have a lower carbon footprint.
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Driven by huge investment in industrial, commercial and residential construction projects in Asia, the global cranes, lifting and handling equipment market is estimated to record a CAGR of 6.54% over the forecast period, which is significantly higher than the CAGR of 0.88% recorded during the review period.
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