INDIA CRANE MARKET SIZE WILL BE VALUED AT USD 1.3 BILLION AND TO REACH A VOLUME OF 15,665 UNITS BY 2027, GROWING AT A COMPOUND ANNUAL GROWTH RATE (CAGR) OF 5.56% BY VOLUME DURING 2021-2027

India Crane Market Research Report includes segments by Crane Type (Mobile Crane (Crawler Cranes, Rough Terrain Cranes, All Terrain Cranes, Truck Mounted Cranes and Others), and Fixed Cranes (Overhead Cranes and Tower Cranes), Application (Construction, Mining, Transport/Port, Manufacturing, and Others), and Gross Power (Less than 20 Tons, 20-100 Tons, 101-200 Tons, and Greater than 201 Tons)

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Most Exhaustive Report

78 Pages

9 Tables

54 Charts

1 Regions

1 Countries

13 Companies

4 Market Segment

INDIA CRANE MARKET REPORT SCOPE

Report Attribute Details
Market Size (Revenue) USD 1.3 BILLION (2027)
Market Size (Unit Shipment) 15,665 UNITS (2027)
CAGR (Volume) 5.56 (2021-2027)
Base Year 2020
Historic Year 2018-2019
Forecast Year 2021-2027
Crane Type Mobile Crane (Crawler Cranes, Rough Terrain Cranes, All Terrain Cranes, Truck Mounted Cranes and Others), and Fixed Cranes (Overhead Cranes and Tower Cranes)
Application Construction, Mining, Transport/Port, Manufacturing, and Others
Gross Power Less than 20 Tons, 20-100 Tons, 101-200 Tons, and Greater than 201 Tons

INDIA CRANE MARKET INSIGHTS

  • In 2019, India became the 15th leading exporter of cranes in the worldThis position will improve in the forecast period as the government plans to spend money on infrastructure to grow the country's manufacturing sector.  

  • Automated safety features added recently in the products will provide players a significant edge over other players.  

  • In India, the rental business is rising rapidly. With most OEMs offering rental services in this space, the major part of the rental equipment market in India is dominated by unorganized players. 

  • The government of India has gradually liberalized the foreign investment provisions. The current Foreign Investment Regulations allow 100% foreign investment in most sectors open to private investment in India.   

                                     INDIA-CRANE-MARKET

INDIA CRANE MARKET SEGMENTATION ANALYSIS  

  • A rough terrain crane is preferred due to its compact frame. They are suitable for navigating through and lifting in confined areas.  

  • The construction of the "Gujarat International finance Tec-city (GIFT city)" boosts the development of new projects in the region. Thereby driving demand for tower cranes as they are commonly used to build tall structures such as skyscrapers.  

  • According to the organization for economic cooperation and development (OECD) construction industry will stabilize and register an annual growth of more than 1% in 2021. It will be supported by investments in the transport, renewable energy, telecommunication, and manufacturing sectors and will propel growth in the Indian crane market.  

KEY HIGHLIGHTS FROM THE REPORT

  • Over the last three to four years, the Indian crane market has witnessed growth fueled by government initiatives such as the Macron Law. 

  • India’s exports slowed down because of the pandemic in July 2020. But there will be growth in coming years due to the recovery of the US, Japan, and China markets which are the crucial trade partners of India. 

  • India offers inexpensive startup costs and operating expenses compared with other countries such as Germany, Italy, the US, and Japan, which drives the crane market in the country.  

VENDOR LANDSCAPE

The vendor's ability to finance the purchasing of parts and components required to manufacture is inspired by purchasing power of contractors. New advancements in technology and facilities are expected to boost the production and product portfolio for the vendors operating in India The investment ratio of 51:49 joint venture between Tadano and Escorts will enable both partners to improve their current and future capabilities in the segment worldwide. One of the prominent vendors, Kobelco, strengthened its profit margins in the construction equipment business with Kobelco Construction Machinery and Kobelco Cranes.  

TARGET AUDIENCE:

  • Top-level management personnel of existing operators/vendors 

  • Potential new entrants to the market 

  • Consultants/consultancies/advisory firms 

  • Professional landscaping service providers/contractors 

  • Corporate and governments bodies 

WHY SHOULD YOU BUY THIS REPORT?

This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:

  • Volume (Unit sales)
    • Crane Type
    • Application
    • Gross Power
  • Value (USD)     
    • Crane Type
    • Application
    • Gross Power                                   
  • Gain competitive intelligence about the economic scenario, advantages in India major projects and investments, dynamics, and market share
  • Examples of latest technologies
  • Get presentation-ready format and easy-to-interpret data.
  • Enable decision-makers to make informed and profitable choices
  • Gain expert quantitative and qualitative analysis on value/volume growth projections of India crane market share
  • Complete supply chain analysis
  • Get COVID-19 impact analysis of the market.
  • Company Profile of 9 key vendors and 5 other prominent vendors

KEY VENDORS

Major Vendors: Tadano Escorts India Pvt. Ltd, Action Construction Equipment Limited (ACE), TIL Tractors Limited, Manitowoc, SANY, Kobelco Construction Equipment India (KCEI)Konecranes, Liebherr, and Terex Corporation. 

Other Prominent Vendors: Zoomlion Heavy Industry, Broderson Manufacturing Corp.Comlift Hydraulics India Pvt Ltd, and Santek Equipments Pvt. Ltd 

Distributors: Komatsu India Pvt. Ltd., Sanghvi Movers Limited (SML), Unicon, and Jainex  

Frequently Asked Questions

The India crane market size will be valued at USD 1.3 billion and to reach a volume of 15,665 units by 2027.
Urbanization, high population, and government initiatives are going to drive market demand in India crane market.
The key players in India crane industry are Tadano Escorts India Pvt. Ltd, Action Construction Equipment Limited (ACE), TIL Tractors Limited, Manitowoc, SANY, Kobelco Construction Equipment India (KCEI), Konecranes, Liebherr, and Terex Corporation.
The key opportunities in the mobile crane industry in India are its widespread acceptability in a variety of end-use industries like construction, mining, and transportation. Mobile cranes are also predicted to rise in popularity in the crane rental industry due to their multiple benefits, including mobility, less installation and setup time.
The Mobile crane segment accounted for the highest share in India crane industry.
The different types of cranes covered in this report are crane type (mobile crane (crawler cranes, rough terrain cranes, all-terrain cranes, truck-mounted cranes, and others), and fixed cranes (overhead cranes and tower cranes)
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