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Industrial Crane Market is Booming Market to Grow at Healthy CAGR forecast by 2026

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Global industrial crane market is set to witness a stable CAGR in the forecast period of 2020 to 2026. Crane is a machine that is specially designed to carry heavy materials from one place to another.

They usually consist of chain, wire ropes, sheaves and hoist rope. They are widely used in industries like railways, metal production, construction, petrochemical, construction, mining etc. Due to rapid industrialization and urbanization there is growth in the industrial crane market.

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Key Market Competitors: Global Industrial Crane Market

Few of the major competitors currently working in the industrial crane market are Konecranes, Sumitomo Heavy Industries Material Handling Systems Co., Ltd., GORBEL INC., North American Industries, ElectroMech, Terex Corporation., Street Crane Company Limited, Kundel Industries, American Crane, Uesco Cranes, Whiting Corporation, Asian Cranes & Elevators, Lampson International LLC, Liebherr Group, JCB, Manitowoc, XCMG Group, Zoomlion Heavy Industry Science&Technology Co., Ltd.

Segmentation: Global Industrial Crane Market

  • By Configuration (Single Girder Cranes, Double Girder Cranes, Gantry Cranes, Jib Cranes, Shipyard Cranes, Stacker Crane, Others)
  • By Hoist Arrangement (Top Running Type, Under Hung Type)
  • By Movability (Mobile Cranes, Fixed Cranes, Others)
  • By End- Use Industries (Metal Production Industries, Waste Management Industries, Ports & Ship Terminals Industries, Railway, Manufacturing Industries, Construction & Infrastructure Industries, Petrochemical Industries, Others Industries)
  • By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)

Competitive Analysis: Global Industrial Crane Market

Global industrial crane market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of industrial crane market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

Market Drivers:

  • Rapid industrialization and urbanization is driving the growth of this market
  • Growth in construction and mining industry is driving the market growth

Market Restraints:

  • High maintenance cost is restraining the market growth
  • Lack of trained and skilled professional is another factor restraining the market.

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Key Insights in the report:

  • Complete and distinct analysis of the market drivers and restraints
  • Key Market players involved in this industry
  • Detailed analysis of the Market Segmentation
  • Competitive analysis of the key players involved

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