Loader cranes find applications in the construction, forestry, waste management, oil and gas industries, etc. Loader cranes are curtail load handling equipment. One of the major advantages of loader cranes is that they facilitate the transfer of goods without the intervention of a second equipment. The global Loader Cranes market is estimated to be pegged at around US$ 3,673.2 million in 2018 and is expected to register a CAGR of 4.6% over the forecast period (2018–2026).
New York, NY -- (SBWIRE) -- 03/30/2019 -- Loader cranes find applications in the construction, forestry, waste management, oil and gas industries, etc. Loader cranes are curtail load handling equipment. One of the major advantages of loader cranes is that they facilitate the transfer of goods without the intervention of a second equipment. The global Loader Cranes market is estimated to be pegged at around US$ 3,673.2 million in 2018 and is expected to register a CAGR of 4.6% over the forecast period (2018–2026).
Factors Influencing the Global Loader Cranes Market
Investments in Public and Private Sector Construction Projects Are Primarily Responsible for Driving Growth in the Loader Crane Market
Increasing investments made by governments as well as private sector companies in infrastructural development projects is the major factor driving the growth of the global loader crane market. Governments across these emerging regions are launching multiple construction projects in order to strengthen transport and commercial infrastructure in respective regions. This is expected to, in turn, provide opportunities for public-private partnership construction projects in the region. As, a, result, will impact on global loader crane market.
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Increasing Demand for High Capacity Lifting Is Fueling the Demand for Loader Cranes
Loader cranes are primarily used for high capacity lifting in tall height applications. Use of other lifting equipment for these applications creates significant limitations in terms of lifting capacity, poor driving comfort and difficulty in steering maneuverability. These limitations are overcome by loader cranes as large capacity cranes offer enhanced driving comfort. Thus, demand for such applications is primarily increasing the adoption of loader cranes, thereby driving the global loader crane market. The construction industry in the U.S., Europe, China and India is anticipated to witness growth in large public infrastructural programs, which will create more opportunities for the Public-Private Partnerships to fund new projects. Developing regions must channelized efforts towards strengthening intra-region trade. This is expected to further benefit the construction sector in the region and create opportunities for growth for loader crane market.
Global Loader Cranes Market Segmentation and Forecast
The global Loader Cranes market is segmented on the basis of lifting moment, boom length, platform, end user and region. On the basis of lifting moment, the global Loader Cranes market is segmented into upto 50 kNm, 51 to 150 kNm , 151 to 250 kNm, 251 to 400 kNm, 401 to 600 kNm and above 600 kNm . On the basis of boom length, the global Loader Cranes market is segmented into less than 11m, 11 to 20m and more than 20 m. On the basis of platform, the global loader crane market is segmented into light commercial vehicles, intermediate commercial vehicles, heavy commercial vehicles and others. The global Loader Cranes market by end user is segmented into construction, forestry, agriculture, oil & gas, manufacturing, transport & logistics, waste management and others. Key regions covered in the report include North America, Latin America, Europe, SEA, China, Japan and Middle East and Africa (MEA).
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Global Loader Cranes Market Analysis, by Region
From a regional perspective, the Loader Cranes market in China is projected to witness relatively faster growth over the forecast period. The Europe Loader Cranes market is estimated to account for a share of around 22.8% in the global market, by value, by 2028 end. The market in South East & Asia is expected to register a CAGR of around 6.4% in terms of value over the forecast period. In Loader Cranes market, North America is expected to reach US$ 657.1 Mn by the end of 2028. The Loader Cranes market in Middle East & Africa (MEA) is expected to expand at a CAGR of around 5.5% over the forecast period.
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Key Players Dominating the Global Loader Cranes Market
Some of the players reported in this study on the global Loader Cranes market are PALFINGER AG, Cargotec (Hiab), Fassi Gru S.p.A., ATLAS Group, Tadano Ltd., Cormach S.r.l., PM Group S.p.A., Next Hydraulics s.r.l., Hyva Group, Prangl GmbH, Zoomlion Heavy Industry Science & Technology Co., Ltd., XCMG