The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
The Asia Pacific crane market is expected to exhibit a CAGR of 6.18% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
A crane is a type of construction machine that is used for lifting and transporting heavy loads. It consists of a hoist rope, wire ropes, and sheaves that assist in raising or lowering the loads and move them horizontally. Earlier, cranes were manually powered by workers and used pulleys and ropes to lift objects. Nowadays, advanced cranes utilize hydraulic and internal combustion engine systems, which provide greater lifting capabilities.
The Asia Pacific crane market is primarily driven by increasing construction and infrastructural activities. Consequently, several countries, including China, India and Australia, are witnessing an escalated demand for cranes. The use of cranes across a wide range of industries like power, oil and gas, civil engineering, construction, and petrochemical is propelling the growth of the market. Besides this, the ongoing construction of smart cities in emerging regions, particularly in India and China, have also escalated the market growth. Apart from this, there have been developments in crane technologies are projected to positively impact the growth of the market.
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific crane market, along with forecasts at the regional and country level from 2022-2027. Our report has categorized the market based on product type and application.
Breakup by Product Type:
Breakup by Application:
Breakup by Country:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
|Base Year of the Analysis||2021|
|Segment Coverage||Product Type, Application, Country|
|Countries Covered||China, Japan, India, South Korea, Australia, Indonesia, Others|
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The Asia Pacific crane market was valued at US$ 20.43 Billion in 2021.
We expect the Asia Pacific crane market to exhibit a CAGR of 6.18% during 2022-2027.
The introduction of advanced cranes, that utilize hydraulic and internal combustion engine systems
to provide greater lifting capabilities, is primarily driving the Asia Pacific crane market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulations across several Asia Pacific nations resulting in temporary halt in construction
and infrastructural activities, thereby negatively impacting the crane market.
Based on the product type, the Asia Pacific crane market has been segmented into mobile cranes,
marine and port cranes, and fixed cranes. Currently, mobile cranes represent the largest market
Based on the application, the Asia Pacific crane market can be bifurcated into construction and
infrastructure, mining, oil and gas, and others. Among these, the construction and infrastructure
sector currently accounts for the majority of the total market share.
On a regional level, the market has been classified into China, Japan, India, South Korea, Australia,
Indonesia, and Others, where China currently dominates the market.
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