The global tower crane rental market is projected to top US$ 6.49 Bn in 2021, according to a recent market analysis by ESOMAR-certifies consulting firm Future Market Insights (FMI). With a favorable demand outlook, the market is estimated to grow at a 5.7% CAGR, reaching 54,685 units in terms of volume.
Demand for tower crane rental plummeted in 2020 due to the onset of the COVID-19 pandemic. However, considering the recovery of the construction sector, sales prospects of tower crane rentals are projected to be bright over the forecast period, as the market experienced year-over-year growth by 4.8% between 2020 and 2021.
The global construction industry has witnessed substantial growth in the past few years and the trend is expected to persist over the forecast period. Growth in the construction can be attributed to increasing government investments and rising per capita expenditure in home ownership and renovation. As infrastructure projects are rising globally, it is translating into high demand for tower crane rentals in the market.
Owing to high demand for tower crane rentals, key players operating in the market are focusing on enhancing their strategic partnerships with regional and local end-use industries to gain a competitive edge in the market. Besides this, players are offering customized fleet solutions, technologically advanced equipment, and robust aftersales services, which is further propelling demand for tower crane rentals in the market.
As per FMI’s in-depth regional analysis, China is projected to dominate the East Asia tower crane rentals market. Rapid adoption of technologically advanced equipment and machinery, along with increasing development of residential and commercial projects in the country will continue fostering sales of tower crane rentals over the forecast period.
“Public Private Partnerships (PPP) for infrastructural development in various countries are positively shaping the demand outlook for tower crane rentals. In addition to this, collaborative efforts to offer personalized crane rental solutions by key market players will continue augmenting market growth in forthcoming years,” says the FMI analyst.
Key Takeaways:
- In terms of design type, the top slewing segment is projected to hold 60.4% of the total tower crane rental market share.
- Based on end-use, applications of tower crane rentals are anticipated to continue rising in the construction sector, accounting for 59.3% of the total market share.
- OEMs are expected to remain the most-preferred vendors for tower crane rental services, capturing 40.2% of the total market share.
- China is anticipated to emerge as an attractive market, commanding 76.1% of the East Asian tower crane rental market share.
- Germany is projected to lead the European tower crane rental market, growing at a 4.5% CAGR.
- India will continue experiencing high demand for tower crane rentals, capturing 43.1% of the South Asia Pacific market share.
- Japan and South Korea will collectively account for 8% of the global tower crane and rental market share.
Competitive Landscape
Key players operating in the global tower crane rental market are Konecranes, Liebherr, Mammoet, Maxim Crane Works, L.P., Morrow Equipment Company, Morwest Crane & Services, Bigge Crane and Rigging Co., Stafford Crane Group, Leavitt Cranes, United Crane & Rigging, Locabens Equipamentos, Grumont Equipamentos Ltda, JASO Group, and Arcomet.
As per FMI’s market survey, top 5 players comprising Al Faris, Kanamoto Co., Ltd., Konecranes, Mammoet and Uperio Group are estimated to account for 41% of the total market share over the forecast period.
As a part of their growth strategies, leading players are investing in intensive research and development to offer innovative and safe tower crane rental options suitable for various end-use applications. Besides this, strategic collaboration, partnerships, mergers and acquisitions will remain prominent growth strategies among key players.
Access Full Report: https://www.futuremarketinsights.com/reports/tower-crane-rental-market
Market Analysis Research Report on “Global Eye Tracking Software Market” has been added to orbis research database.The Global Eye Tracking Software Market status, future forecast, growth opportunity, key market and key players.
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As India braces for the exponential growth of internet users—approximately 650M by 2020—we look at the opportunities for fast moving consumer goods (FMCG) brands in India.
As India is going through a digital evolution, it is estimated that by 2020, internet users in India will be around 650 million, which is half the population of the country.
Apart from these, the influence of the internet on FMCG purchases is growing rapidly and much faster than the industry imagined.
In its research report, Google stated that with the growing influence of digital on FMCG in India and its estimated impact by 2020, FMCG companies must rethink their digital strategies and digital media allocation to improve their go-to-market plans.
Some of the key findings stated by researchers in Google:
Digitally influenced FMCG consumption will grow to $45B (4a0% of a $115B market) by 2020.
Pet food additives market is expected to grow at a growth rate of 6.80% in the forecast period of 2020 to 2027.Additive is a term applied to a variety of ingredients that are manufactured to add the basic ingredients.
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Pet food additives are derived from animal source and plants and can be chemically synthesized.Pet Food Additives Market study by DBMR gives insights with respect to the market components affecting the market, extension, division and overlays shadow upon the principle business players including the great cantered scene and examples beating the years.This Report encases broad examination accessible and is assessed through volume and data supported on three systems including top associations wages.
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Further, division of the market is pondered unequivocally to give critical data for useful market theories.Get Sample Copy of this Report @ https://www.databridgemarketresearch.com/request-a-sample/?dbmr=global-pet-food-additives-marketCompanies Mentioned: Bill Barr & Company, Bentoli, inc, Caldic B.V, Camlin Fine science ltd, Denes Natural Pet care ltd, DSM, Kemin Industries, inc, Trouw Nutrition USA, llc.Market Segmentation:Pet food additives market is segmented on the basis of additives, functionality and pet type.
Global Ball Mill (Mining) Market by Manufacturers, Countries, Type and Application, Forecast to 2023 Report “ Provides In-Depth Analysis Of Parent Market Trends, Macro-Economic Indicators And Governing Factors Along With Market Attractiveness As Per Segments.Introduction:A ball mill is a type of grinder used to grind materials into extremely fine powder for use in mineral dressing processes, paints, pyrotechnics, ceramics and selective laser sintering.
Scope of the GlobalBall Mill (Mining) Market ReportThis report focuses on the Ball Mill (Mining) in global market, especially in North America, Europe and Asia-Pacific, South America, Middle East and Africa.
This report categorizes the market based on manufacturers, regions, type and application.Request a Sample of this Report @ http://www.orbisresearch.com/contacts/request-sample/2199757The worldwide market for Ball Mill (Mining) is expected to grow at a CAGR of roughly -0.2% over the next five years, will reach 460 million US$ in 2023, from 460 million US$ in 2017, according to a new GIR (Global Info Research) study.As Chinese overall economic downward trend in the past few years, and international economic situation is complicated, in the next few years there will be many uncertainties for Ball Mill industry.
Attracted by the market profits, more and more companies have entered into Ball Mill industry, the competition between manufacturers at home and abroad is fierce for the time being.
Currently, the Chinese Ball Mill industry tries to transit to high-end Ball Mill field actively, as well as extends downstream industry chain.
Although sales of Ball Mill brought a lot of opportunities, the study group recommends the new entrants just having money but without technical advantage and downstream support do not enter into the Ball Mill field abruptly.
With the days, mobile app development and downloads are increasing.
There are many mobile app developers who developed amazing apps for clients to stay ahead in this competitive market.
In a research report, it is shown that more than 5 million apps available on the Google play store and Apple Store both.
A few years ago, mobile apps have been native, users had to install the app into their smartphones to work.
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