Global tower crane sales are set to be valued at US$ 19.3 Bn in 2021, with a stable long-term projection, according to latest insights from Future Market Insights (FMI), an ESOMAR-certified research and consulting firm. The report estimates global tower crane market to grow at nearly 4.8% during 2021-2031. The report offers analysis in 20+ high-growth markets, providing detailed insights on tower cranes market growth will evolve in the next decade.

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Demand for tower crane waned in 2020, due to the recessionary effects of COVID-19 on the construction activities, resulting in retardation of new and rental sales of tower cranes However, barring a few countries, the construction activities has resumed at a healthy rate post Q2 of the financial year. With the sector undergoing a recovery mode, the immediate as well as long-term growth outlook of Tower Cranes the market remains positive.

The research report analyzes demand for tower crane. The global tower crane market has been analyzed upon covid-19 impact, macroeconomic factors, market trends & market background. As per FMI’s research scope, the market has been analyzed on the basis of applications, customers & regions. The report gives us qualitative and quantitative information on various players in this market. Also, this report tracks the market by both supply side and demand side.

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Key Takeaways from Tower Cranes Market Study

• Following negative returns amid COVID-19, the tower crane market is forecast to register a little below 4% Y-o-Y growth in 2021
• The U.S. will continue accounting for maximum sales in North America, holding over 85% of regional market share
• The U.K. market is likely to register 3.7% Y-o-Y growth in 2021 backed by recovering construction activities
• The demand from Germany and France will account for considerable sales within Europe
• China will emerge dominant in East Asia, while Japan and South Korea markets will continue exhibiting growth at a positive pace

Tower Crane Market

By Lifting Capacity

• Up to 5 Tons
• 5 to 10 Tons
• 10 to 20 Tons
• 20 to 30 Tons
• 50 to 250 Tons

By Design

• Top Slewing
• Bottom Slewing

By Product Types

• Self-Erecting
• Hammer Head Cranes
• Luffing Jib Cranes
• Mobile Cranes

By End-Use

• Building & Construction
• Civic infrastructure
• Marine & Sea Ports
• Mining
• Others

By Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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