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Study: Rough-Terrain Crane Sales Grew at 3.7% in 2018


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December 26, 2018 - A study by Fact.MR says that year-end totals will show that more than 4,700 rough-terrain cranes will have been sold in 2018, and the market has grown 3.7% over 2017.

The report says the growth came from a steady stream of construction projects in the pipeline, an improving landscape for rough-terrain crane rental, and demand from industries ranging from civil construction to government projects.

“After a significant period of stabilizing demand, the rough-terrain crane market is coming to the fore and witnessing a steady progress. As the governments emphasize on capacity expansion of the utilities sector and infrastructure development, demand for rough terrain cranes has witnessed a constant upward trend in the past decade and a market of nearly US$ 2,400 million is anticipated in 2018,” says a senior analyst at Fact.MR.

According to the study, the sales of rough-terrain cranes with up to 35-tonne (38.5-U.S.-ton) lifting capacity will have witnessed a surge of nearly 60 units in 2018, compared to 2017.

Increasing demand for compact yet efficient heavy-duty equipment in the construction sector has led to the significant adoption of up to 35-tonne (38.5-U.S.-ton) RT cranes.

 

Demand for Rough-Terrain Cranes of 35-50 Tonnes is Rising

 

The study predicts that RT cranes with 35- to 50-tonne (38.5- to 55-U.S.-ton)  lifting capacity is witnessing a rapid adoption on the back of increasing demand for greater lifting capacity.

Although the units sold remains greater for lower-capacity RT cranes, in terms of value the RT cranes market will garner increased revenues from the higher-capacity cranes, owing to higher equipment pricing.

On the same lines, 35- to 50-tonne (38.5- to 55-U.S.-ton) rough-terrain cranes will occupy almost US$ 100 million more than up-to-35-tonne (up-to-38.5-U.S.-ton) RT cranes in 2018.

The RT crane market continues to witness growing demand in the oil & gas industry. The Fact.MR study finds that the oil & gas industry will hold more than one third sale of RT cranes in 2018. The higher demand can be attributed to increasing efforts of rental companies and original manufactures for market share expansion.

Demand for RT cranes in the construction sector is expected to follow the oil & gas industry, with steady development in the construction sector across global countries will lead to sales of over 1,080 units in 2018. Growing government emphasis on renewable energy generation is expected to be the prime factor responsible for the rapid growth of RT cranes market in wind farms, at more than 4% over 2017.

 

Japan Held Nearly One Third of Global Rough-Terrain Market 2017

 

The study estimates that Japan with the headquarters of leading manufacturers in the rough- terrain crane market will occupy nearly one third of the market share in 2018. Manufacturers such as Tadano and Kobelco are making greater strides in the RT crane market by capacity expansion and increasing global footprints.

The study shows that APEJ (Aisa Pacific Except Japan) closely follows Japan in terms of rough terrain crane sales. A significant focus on the infrastructure development in APEJ countries has led to a generation of over one fourth of the total sales in 2018.

Considering the cost-intensive nature of rough-terrain cranes, rental services are thriving as users continue to prefer renting over owning. Further, identifying the emerging opportunities of increasing investments in non-residential infrastructure and government work, companies are improving distribution tie-ups with rental companies.

These insights come from a study of the Rough Terrain Crane Market by Fact.MR.

https://www.factmr.com/report/2205/rough-terrain-crane-market

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