According to the latest report by IMARC Group, titled "India Crane Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the India crane market to grow at a CAGR of 6.44% during 2022-2027. A crane refers to a mechanical lifting device that is mainly utilized for lifting and carrying heavy machines and materials. It is generally equipped with wire ropes, a winder and sheaves that assist in carrying heavy weight loads in an efficient manner. Additionally, it utilizes a lever, pulley and hydraulic cylinder that aid in balancing, supporting and lifting the loads. Some of the popular crane variants include truck-mounted, rough terrain, hammerhead and level luffing. It is widely adopted across multiple industrial verticals and is extensively available in various forms across India that differ on the basis of the size and carrying capacity.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
India Crane Market Trends:
The market in India is primarily driven by significant growth in the construction industry. Along with this, increasing investments by private and public firms in infrastructural development projects, including restoration and new construction projects across the country, are creating a positive market outlook. Moreover, the rising adoption of cranes across the manufacturing sector for lifting and transporting a bulk of manufactured goods that are beyond the capability of manual labor is contributing to the growth of the market across the globe. Since cranes can operate efficiently even in unfavorable terrains and weather conditions while providing high-intensity output, this is providing a boost to the market growth. Furthermore, continual technological advancements and the widespread integration of advanced features with cranes are favorably impacting the product uptake in the country. Other factors, including rapid industrialization, the emergence of crane rental or leasing services on a monthly or weekly basis, and extensive research and development (R&D) activities conducted by key players, are also positively influencing the market across India
- On the basis of the product type, the market has been segregated into mobile, marine and port cranes, and fixed cranes.
- Based on the application, the market has been classified into construction and infrastructure, mining, oil and gas, and others.
- On the basis of the region, the market has been divided into North India, West and Central India, South India, and East India.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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