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The Asia Pacific crane market is currently witnessing moderate growth. 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. Looking forward, the market is expected to continue its moderate growth during the forecast period (2021-2026).
IMARC Group provides an analysis of the key trends in each sub-segment of the Asia Pacific crane market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on region, product type and application.
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The competitive landscape of the industry has also been examined along with the profiles of the key players.
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