Japan Crane Market - Strategic Assessment & Forecast 2021-2027

The Japan crane market size will be valued at USD 20.4 billion and to reach a volume of 11187 units by 2027, growing at a compound annual growth rate (CAGR) of 3.25% by volume during 2021-2027. Japan is the third-largest economy in the world. The manufacturing and service industries are the major contributors to GDP. The country has witnessed a steady growth in the nominal GDP over the last few years. However, in 2020, the Japanese economy shrank by 4.8% due to disruption in the supply chain. Japan is an export-oriented market, but its exports fell by 19.2% in July 2020. However, export has shown some growth in Q1 of 2021 due to the recovery of China and the US market, which are the crucial trade partners of Japan. The Japanese government has also introduced a sustainable recovery plan from the negative impact of the pandemic and planned to invest $708 billion in green and digital technology. The economic package is expected to maintain employment, support business, and drive economic recovery. The government also launched wind power generation plans in different regions of the country under green technology programs.

These wind power generation plants' construction requires overhead and jib cranes. Hence, the demand for a crane with automated and fuel-efficient technology is expected to rise due to the government's focus on green and digital technology.​

MARKET OUTLOOK

Japan's crane market was valued at 9233 units in 2021 and is expected to reach 11187 units by 2027, growing at a CAGR of 3.25% from 2021 to 2027. The mobile crane had the highest market share in 2020. The increase in government investments in various infrastructure development projects such as the redevelopment of Shibuya, Taranomon, new Shinagawa station will increase the demand for mobile Cranes and hoists market in Japan. The rise of infrastructure investment and the mining sector will positively impact the demand for cranes in Japan. The rise of technological advancement in the construction industry will drive demand for customize automated cranes. The demand for mobile cranes is largely driven to address high-end works for urban and infrastructure development.

JAPAN CRANE MARKET - SEGMENTATION ANALYSIS

• The mobile crane industry in Japan by value is expected to reach USD 9,465.5 million by 2027, growing at a CAGR of 3.89%.
• The demand for crawler cranes is largely driven due to increased investment in both commercial buildings and oil & gas extraction projects.
• Truck-mounted cranes are used for loading and moving equipment on the job site. Japan truck mounted crane industry is expected to reach 1,049 units by 2027.
• Japan’s crane industry by industrial is expected to reach USD 4,701 million by 2027, growing at a CAGR of 5.36%.

KEY HIGHLIGHTS FROM THE REPORT

• Increasing urban infrastructure development and high growth in tourism are further expected to propel the demand for cranes.
• The Japanese crane industry is expected to show an incremental growth of 2,138 units during the period (2020- 2027).
• The demand for mini/compact cranes is expected to further increase in the coming years.
• Japan’s crane lifting capacity of 20 tons-100 tons market revenue is expected to reach USD 7,823 million by 2027, growing at a CAGR of 3.80%.

VENDOR LANDSCAPE

Major Japanese manufacturers have a broad presence in major regions, with extensive dealer networks and sales support. Japan is an export-oriented country. Japan manufacturers cranes and exports them across the globe. One of the key vendors, Tadano, manufactures construction cranes, truck loader cranes, and aerial work platforms worldwide. The company focuses on technology and quality innovations by creating a global R&D cooperation network and opening R&D centers.

WHY SHOULD YOU BUY THIS REPORT?

This report is among the few in the market that offers an 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 Japan's major projects and investments, dynamics, and market share
• Examples of the 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 the Japan crane market share
• Complete supply chain analysis
• Get COVID-19 impact analysis of the market
• Company Profile of 10 key vendors and 5 other prominent vendors

KEY VENDORS

Major Vendors: Tadano, Manitex International, Inc., Manitowoc, SANY, Kobelco Construction Machinery (KCME), Konecranes, Liebherr, Xuzhou Construction Machinery Group Co., Ltd. (XCMG), Terex Corporation, and Cargotec.

Other Prominent Vendors: American Crane & Equipment Corp. (ACE), Zoomlion Heavy Industry, Broderson Manufacturing Corp, Link-Belt Cranes, and Kato Works.