“Reaching New Heights: Exploring the Tower Crane Market and Its Growth Potential” | Allied Market Research
Tower Crane Market by Type (Self-erecting, Luffing Jib, Hammer Head, and Flat Top), Lifting Capacity (Less than 5 ton, 6 to 10 ton, and More than 10 ton)
PORTLAND, UNITED STATES, April 6, 2023 /EINPresswire.com/ — The tower crane market is a rapidly growing industry driven by the increase in construction activities across the globe. Tower cranes are used in construction sites for lifting heavy equipment, materials, and prefabricated building components to high elevations. In this blog, we will explore the tower crane market and its growth prospects.
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Market Overview:
According to a report by Allied Market Research, the global tower crane market size is expected to reach $9,907.1 million in 2028, from $6,683.2 million in 2020, growing at a CAGR of 4.8% from 2021 to 2028. The market growth is driven by several factors, such as the increase in construction activities, the rise in urbanization, and the demand for efficient and safe lifting equipment.
Types of Tower Cranes:
The tower crane market is segmented into several types, such as hammerhead tower cranes, flat top tower cranes, luffing jib tower cranes, and self-erecting tower cranes.
Hammerhead tower cranes are the most common type of tower crane used in construction sites. They are named for their distinctive shape, which resembles a hammerhead. Hammerhead tower cranes are known for their high lifting capacity and can lift up to 20 metric tons.
Flat top tower cranes are similar to hammerhead tower cranes but have a flat top. They are designed to have a lower profile, making them ideal for construction sites with height restrictions.
Luffing jib tower cranes are used in construction sites with limited space. They are known for their ability to move the jib vertically and horizontally, making them ideal for construction Equipment with a lot of obstacles.
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Self-erecting tower cranes are becoming increasingly popular, as they can be quickly and easily assembled without the need for a separate crane. Self-erecting tower cranes are typically used in smaller construction sites or for residential construction.
Construction Process:
The tower crane construction process typically involves several steps, such as site preparation, tower assembly, jib assembly, and electrical installation.
Site preparation: The first step in the tower crane construction process is preparing the site. This involves leveling the ground, laying a foundation, and preparing the site for the tower crane.
Tower assembly: The tower is assembled on-site using pre-fabricated sections. The tower is assembled vertically, with each section being bolted together.
Jib assembly: Once the tower is assembled, the jib is attached to the tower. The jib is the horizontal arm of the tower crane that extends out over the construction site.
Electrical installation: The tower crane is then wired with electrical cables, which power the motors that control the movement of the crane.
End-Use Industries:
The tower crane market is used in various end-use industries, such as residential, commercial, and infrastructure. The residential sector is one of the major end-users of tower cranes, due to the increase in urbanization and the demand for residential buildings.
The commercial sector is another major end-user of tower cranes, due to the increase in construction activities and the rise in commercial buildings, such as offices, shopping malls, and hotels.
The infrastructure sector is also a major end-user of tower cranes, as tower cranes are used in the construction of large-scale infrastructure projects, such as bridges, highways, and airports.
Regional Analysis:
The tower crane market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa, and South America. The Asia-Pacific region is expected to dominate the market during the forecast period, due to the increase in construction activities, the rise in urbanization, and the demand for efficient and safe lifting equipment. Moreover, the growth in the construction industry in countries such as China, India, and Japan is driving the demand for tower cranes in the regi
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Key Players
Action Construction Equipment Ltd.
ENG CRANES Srl
JASO Tower Cranes
Liebherr-International AG
Manitowoc Company, Inc.
SANY Global
Sarens n.v./s.a.
Terex Corporation
XCMG
Zoomlion Heavy Industry Science & Technology Co., Ltd.
David Correa
Allied Analytics LLP
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