Global cranes market: $109 billion valuation in 2011

London 1/22/2013 01:53 PM GMT (TransWorldNews)

The global cranes, lifting and handling equipment market valued US$109.5 billion in 2011, of which the Asia-Pacific region constituted a 44.4% share, making it the largest regional market for cranes, lifting and handling equipment in the world. In the same year, Europe and North America were the second and third-largest regional markets, with 37.7% and 10.1% shares respectively. The market shares of the European and North American regions are expected to be 32.6% and 8.5% respectively in 2016, a decline from shares in 2011, while the Asia-Pacific region is forecast to increase its share to 50.9% in the same year.

In terms of growth, the global cranes, lifting and handling equipment market recorded a CAGR of 0.88% during the review period. The key contributor to this marginal growth rate was the decline in yearly growth rate by 18.5% in 2009. The global cranes, lifting and handling equipment market is expected to record a CAGR of 6.54% over the forecast period, in anticipation of the growing global construction industry and the improved performance of the global economy following the easing of the economic crisis in Europe.

Cranes and overhead lifting equipment was the largest category in the market. The category valued US$28.7 billion in 2011, constituting a 26.2% share in the global market.

Regional Market

Asia-Pacific
The Asia-Pacific cranes, lifting and handling equipment market valued US$48.6 billion in 2011, out of which China constituted the largest share with 53.5%. It was followed by Japan, which constituted the second-largest share in the region with 22.6% and recorded a high CAGR of 11.27% during the review period, outperforming all other regional cranes, lifting and handling equipment markets.

Cranes and overhead lifting equipment, elevators and conveyors, and parts and accessories constituted a 71.9% share of the total market value in 2011. Overall, the cranes, lifting and handling equipment market in the Asia-Pacific region is expected to record a CAGR of 9.51% over the forecast period.

Europe
The European cranes, lifting and handling equipment market valued US$41.2 billion in 2011 and covered the markets of 26 European countries. Germany constituted the largest share with 17.7%, followed by France, the UK, Italy and the Netherlands, with shares of 11.1%, 10.1%, 9.8% and 8.0% respectively.

All of the market categories are expected to grow together and are estimated to be in the CAGR range of 3–5% over the forecast period. Cranes and overhead lifting equipment, parts and accessories, and lifting trucks will continue to be the largest categories, accounting for a forecast combined share of 72.5% in 2016.

North America
The North American cranes, lifting and handling equipment market valued US$11.0 billion in 2011. The US was a key market with a 78.9% share in the same year. The demand for cranes, lifting and handling equipment from the construction industry declined in the country, as a result of the recession, causing the total North American cranes, lifting and handling equipment market to record a CAGR of -8.03%.

Latin America
The Latin American cranes, lifting and handling equipment market valued US$4.5 billion in 2011, with Brazil accounting for the largest share with 44.6%. Mexico and Argentina followed with shares of 33.2% and 12.7% respectively.

Key Highlights

• The global cranes, lifting and handling equipment market valued US$109.5 billion in 2011, of which the Asia-Pacific region constituted a 44.4% share, making it the largest regional market for cranes, lifting and handling equipment in the world.

• In terms of growth, the global cranes, lifting and handling equipment market recorded a CAGR of 0.88% during the review period. The key contributor to this marginal growth rate was the decline in yearly growth rate by 18.5% in 2009.

• The past decade witnessed unprecedented growth in the Chinese construction industry, increasing the demand for the cranes and material handling equipment. In response to the global financial crisis, the Chinese government introduced a CNY4.0 trillion (US$580 billion) stimulus package in 2008, with a large portion of this investment assigned to the development of public infrastructure.

• Asia is a highly price-sensitive market. High import duties and registration laws relating to the import of new cranes led to the widespread use of second-hand cranes in Asia, particularly in India, Pakistan, Malaysia, Indonesia, Thailand, Taiwan and the Philippines.

• The adoption of environmentally-friendly technologies and practices among manufacturing and distribution industries is increasing. The hydrogen fuel cell system is emerging as an alternative to traditional batteries. Hydrogen fuel-powered forklifts not only help to improve productivity but also have a lower carbon footprint.

• Driven by huge investment in industrial, commercial and residential construction projects in Asia, the global cranes, lifting and handling equipment market is estimated to record a CAGR of 6.54% over the forecast period, which is significantly higher than the CAGR of 0.88% recorded during the review period.

Report Scope

This report provides a comprehensive analysis of the cranes, lifting and handling equipment market globally:

• Historical (2007-2011) and forecast (2012-2016) valuations of the cranes, lifting and handling equipment market in Asia-Pacific, the Middle East, Europe, North America and Latin America
• Market values provided for Cranes and overhead lifting equipment, Mobile lifting frames, Overhead traveling cranes, Self-propelled lifting equipment (railed), Tower and pedestal jib cranes, Transporter, gantry and bridge cranes, Lifting trucks, Self-propelled forklift trucks, Self-propelled trucks with lifting or handling capability, Other forklift trucks, Lift and skip hoists, Electrical Lift and skip hoist, Non-electrical Lift and skip hoists, Winches, Elevators and conveyors, Pneumatic Elevators and conveyors, Continuous action Elevators and conveyors, Parts and accessories, Crane and forklift parts, Lift, skip hoist and escalator parts, Buckets, shovels, grabs and grips
• Breakdown of values at the country level (44 countries)
• Analysis of key events and factors driving the cranes, lifting and handling equipment market globally

Reasons to Buy

• Identify and evaluate market opportunities using our standardized valuation and forecasting methodologies
• Assess market growth potential at a micro-level via review data and forecasts at category and country level
• Understand the latest industry and market trends
• Formulate and validate business strategies by leveraging our critical and actionable insight
• Assess business risks, including cost, and competitive pressures



Click for Report details:Global Cranes, Lifting and Handling Equipment - Market Opportunity and Environment, Analyses and Forecasts to 2016



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