Crane Market Expanding at a steady h 3.8% CAGR during 2022-2029
In the current market scenario, rising number of construction projects in South East Asian and Latin American countries, and tie-ups with prominent sales channel partners and manufacturing entities for long-term supply, will drive the global crane market . Further, integration of smart solutions and automation in cranes are expected to enhance sales during the forecast period. Strong customer relationships with dealers/distributors and other stakeholders in the distribution channel, reinforced through local market presence, has been at the forefront among the various policies and plans adopted by prominent players in the global crane market. Value of the global crane market was approximately US$ 43.9 Bn in 2022, which is projected to increase 1.5X by 2029. Insights Gathered from Crane Market Study The integration of cranes with IoT is expected to allow key players to increase sales during the forecast period, especially through contracts from leading companies