Global Loader Crane Market Revenue to Record Robust Growth in the Years After the End of COVID-19 Crisis

(MENAFN- MENAFNAuthors)

While construction and industrial activities continue to flourish, manufacturers are increasingly becoming aware of benefits associated with loader crane in terms of efficient loading, unloading, and goods transferring operations, without the intervention of an additional equipment. Moreover, the versatility and flexibility of loader crane, makes it a preferred choice for many end user industries such as construction, forestry, agriculture, oil and gas, manufacturing industry, transport and logistics, and waste management.

Persistence Market Research (PMR) projects that increasing demand from construction, logistics and, building activities will continue to create an overall positive growth scenario for the loader crane market in the near future. PMR, in its recently released intelligence, forecasts steady growth for the loader crane market over the next eight years.

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During 2018-2026, the global revenue of loader crane market is anticipated to expand at a steady CAGR of 4.6% and reach a valuation of US$ 2,083.6 Mn by the end of 2026. With more than 40% value share, the building and construction segment is expected to remain the largest revenue generator in the loader cranes market throughout the forecast period. Booming industrial and infrastructural development, owing to increasing investments made by governments as well as private sector companies in emerging economies will create growth opportunities for the loader crane market. Rapid growth in the residential sector in urban as well as semi-urban areas in this region will contribute significantly to the market growth

Since, lifting limitations associated with conventional cranes including lifting capacity, poor driving comfort, and difficulty in steering maneuverability looms large, high capacity lifting offered by loader crane, will drive the adoption in the coming years. Additionally, since government support through loans, increased foreign direct investment (FDI), and investments and subsidies is increasing, urban infrastructural projects are gathering pace, especially in Asian countries, further driving the demand for loader cranes.

The global loader cranes market is a highly consolidated one, with top three players including Palfinger, Hiab and Fassi holding close to 70% of total market share. Emphasis on product innovation along with focus on sales through indirect distribution channels are two major differentiating factors that would enable organized players to strengthen their positions in the global and regional loader cranes markets. Some key players are also making significant investments in R&D to introduce new products and expand their offerings across the globe.

 

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