Global Tower Crane Market is segmented on the basis of product type as Up rotation, Down rotation, and others. A particular engine that is generally outfitted with a hoist rope, wire ropes or chains, and sheaves is known as a crane. The main function performed by these machines is to haul up and lower the materials and to shift them in a horizontal manner. They elevate overloaded things and ship them to the desired place. The transport industry make use of them for carrying out the loading and unloading of goods, the construction sector employ them for the transfer of materials, and the manufacturing industry assembles and brings together the heavy equipments with the assistance of it.
Tower crane is basically a more enhanced form of balance crane but it usually comprises of similar components. They are attached and set to ground particularly on a concrete slab. They offer us the most apt blend of height and lifting capacity. The prime utilization of these tower cranes lies in construction sector. The most striking aspect that is associated with these tower cranes is that they offer cost effective performance and high level of safety. However, they need to be appropriately employed as they can give rise to numerous critical mishaps including property damage and bodily harm. Before designing a particular crane, certain aspects have to be considered. Primarily, the crane must have the capability to raise the weight of the load, it should not tumble or collapse and lastly it must not rupture.
It has been observed that the demand for fuel-efficient and modern tower cranes is tremendously increasing around the world. Most of the construction companies are opting for fuel-efficient equipments as they facilitate fuel savings and emit less carbon and that is why the leading manufacturers are putting more efforts in enhancing tower cranes. The key factors responsible for boosting up the market growth entails rising urban infrastructure projects, augmenting building projects, as well as residential apartment construction projects across the globe. Besides that, many strict government policies concerning carbon emission levels have been initiated that has eventually contributed in compelling the overall market growth.
Tower Crane Market is segmented on the basis of applications as applications as Residential Buildings, Industrial Buildings, Transportation, Dams, Power Plants, and Others. Among all the applications, the segment of Residential Buildings and Industrial Buildings has acquired the largest share in the market. Tower Crane Market is segmented on the basis of geographical location as North America, China, Europe, Japan, India, and Southeast Asia.
As far as the geographical location is concerned, Asia Pacific is the dominating region. It is currently covering the largest share in the market and it is estimated that the region will show a robust growth in the near future, the reason being rise in the investments in urban infrastructure projects especially in the countries like China and India. In contrast, North America is also displaying a huge growth due to rise in the industrialization, technological advancements, and presence of leading companies in the particular region. The key players operating in the Tower Crane Market include Potain, ELECTROMECH, G.C. SpA, Liebherr Manitowoc, Wiibert, Orlaco, MTC Tower Cranes, Terex, Wolffkran, Anupam Industries Limited, XCMG, Eurocrane, Muhibbah, and Konecranes.
Research Support Specialist, USA