Worldwide Truck Mounted Crane Industry to 2027 - Impact of COVID-19 on the Market - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 21, 2020--
The “Truck Mounted Crane - Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.
We bring years of research experience to this 9th edition of our report. The 188-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.
Global Truck Mounted Crane Market to Reach $3.2 Billion by 2027
Amid the COVID-19 crisis, the global market for Truck Mounted Crane estimated at US$2.2 Billion in the year 2020, is projected to reach a revised size of US$3.2 Billion by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027. Construction, one of the segments analyzed in the report, is projected to record a 6.4% CAGR and reach US$624.6 Million by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Industries segment is readjusted to a revised 6.3% CAGR for the next 7-year period.
The U.S. Market is Estimated at $590.7 Million, While China is Forecast to Grow at 8.9% CAGR
The Truck Mounted Crane market in the U. S. is estimated at US$590.7 Million in the year 2020. China, the world’s second largest economy, is forecast to reach a projected market size of US$685.1 Million by the year 2027 trailing a CAGR of 8.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.2% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.
Utilities Segment to Record 5.2% CAGR
In the global Utilities segment, USA, Canada, Japan, China and Europe will drive the 4.8% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$765.6 Million in the year 2020 will reach a projected size of US$1.1 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$436.4 Million by the year 2027, while Latin America will expand at a 6.4% CAGR through the analysis period.
Competitors identified in this market include, among others:
- Altec Industries, Inc.
- Bocker Maschinenwerke GmbH
- Elliott Equipment Company
- Kato Works Co., Ltd.
- Liebherr-International AG (Liebherr Group)
- Link-Belt Cranes
- Manitex International, Inc.
- Manitowoc Co., Inc.
- MPG Makina Produksiyon Grubu
- Ormig SpA
- Sany Group Co., Ltd.
- Tadano Ltd.
- Terex Corporation
- Xuzhou Construction Machinery Group Co., Ltd.
Key Topics Covered:
I. INTRODUCTION, METHODOLOGY & REPORT SCOPE
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Global Competitor Market Shares
- Truck Mounted Crane Competitor Market Share Scenario Worldwide (in %):2019 & 2025
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
- Total Companies Profiled: 47
For more information about this report visit https://www.researchandmarkets.com/r/l9uyth
View source version on businesswire.com:https://www.businesswire.com/news/home/20201221005327/en/
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INDUSTRY KEYWORD: CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Research and Markets
Copyright Business Wire 2020.
PUB: 12/21/2020 05:46 AM/DISC: 12/21/2020 05:46 AM