Global self-erecting tower cranes market expected to grow significantly due to increasing construction activities
From GlobeNewswire: 2025-01-09 07:37:00
The global Self Erecting Tower Cranes Market is forecasted to grow significantly from 2021 to 2031, with key applications in residential and commercial construction. These cranes offer efficiency and safety benefits, reducing labor costs and increasing site safety. Demand is rising, especially in developing countries, due to their cost-effectiveness compared to traditional tower cranes.
The market analysis reveals that self-erecting tower cranes are essential for short-duration construction projects that require frequent material handling and equipment erection. With different lifting capacities available, manufacturers are sourcing specific materials to meet market demands. The market is driven by urbanization and increased construction activities worldwide, with Asia Pacific leading in investments in the construction sector.
Asia Pacific leads the global self-erecting tower crane market, followed by North America and Europe. The region is expected to experience the highest growth rate during the forecast period. Market segmentation includes applications in residential construction, commercial construction, and public infrastructure, with the public infrastructure segment holding the largest market share in 2023.
India is a key player in the self-erecting crane market due to increasing investments in infrastructure development projects. The government’s focus on infrastructure development and residential building projects, coupled with advanced construction technology, is driving market growth. Key players are innovating and expanding their product offerings to maintain a competitive edge in the market.
Recent developments in the self-erecting crane market include strategic partnerships and new product launches to cater to the growing demand. For more insights and to stay updated on market trends, customization options are available for tailored research reports. The market is evolving rapidly, offering new opportunities for stakeholders across the supply chain to capitalize on the growing demand for self-erecting tower cranes.
Read more at GlobeNewswire: Self Erecting Tower Cranes Market Size to Hit $ 1.35