Growing urbanization, rapid industrialization, increasing investment in real estate as well as developing commercial and residential infrastructure are some of the key growth drivers of the crane market in China. China being one of the fastest-growing economies in the world with large-scale capital investment coupled with swift growth in productivity, remains one of the key destinations for construction and infrastructure development. This factor will spur the growth of the crane market over the coming years. However, China's economy has witnessed a slowdown in the first three quarters of 2020, due to the outbreak of the COVID-19 pandemic. Though the economic scenario in China is expected to recover steadily in the next few years, the crane market in China is also likely to recover gradually over the years to come.
According to 6Wresearch, the China Crane Market size is likely to witness growth during 2020-2026. This growth is primarily attributed to government initiatives towards developing the transportation and commercial sector. For instance, the Chinese government has allocated a budget for the construction of 450 new airports by 2035 in the country to transform itself into an aviation power over the coming years. Additionally, the Chinese government with its vision to connect with other developed countries is increasing investment in international projects, for instance, the Belt and Road Initiative (BRI, or B&R) is a worldwide expansion strategy implemented by the Chinese government in 2013. This plan includes infrastructure development and investment across 70 countries and international organizations in Asia, Europe, and Africa. These initiatives would spur the demand for cranes in China during the forecast period.
In terms of regions, Beijing dominates the China crane market due to vast infrastructure projects and tremendous infrastructure spending in the region. Further, based on the crane type, the mobile crane dominates the overall China crane market due to the increasing number of construction projects in the country. Additionally, the industrial and commercial application is the key revenue-generating segment in China crane market.
The China crane market report thoroughly covers the market by types, applications, and regions. China's crane market outlook report provides an unbiased and detailed analysis of the on-going China crane market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies accordingly to the current and future market dynamics.
China Crane Market is anticipated to witness prominent growth in the foreseeable future on the back of technological up-gradation such as the installation of the digital system in cranes which tends to improve safety and productivity at the time of the operation of the vehicle with extensive efficiency which is expected to increase the deployment for the cranes in the country in the coming years. Additionally, the transport industry is expected to lead the overall China crane market in terms of driving sales revenues owing to the rise in the usage of the crane machine in performing loading and unloading tasks at a wide range which is anticipated to benefit the growth of the China crane market during the forecast period.
Key Highlights of the Report:
- China Crane Market Overview
- China Crane Market Outlook
- China Crane Market Forecast
- Historical Data of China Crane Market Revenues & Volume for the Period 2016-2019.
- China Crane Market Size and China Crane Market Forecast of Revenues and Volume, Until 2026.
- Historical Data of China Crane Market Revenues and Volume, By applications, for the Period 2016-2019
- Market Size & Forecast of China Crane Market Revenues and Volume, By applications, Until 2026
- Historical Data of China Crane Market Revenues and Volume, By types, for the Period 2016-2019
- Market Size & Forecast of China Crane Market Revenues and Volume, By types, Until 2026
- Historical Data of China Crane Market Revenues and Volume, By regions, for the Period 2016-2019
- Market Size & Forecast of China Crane Market Revenues and Volume, By regions, Until 2026
- Market Drivers and Restraints
- China Crane Market Trends and Industry Life Cycle
- Porter's Five Force Analysis
- Market Opportunity Assessment
- China Crane Market Share, By Players
- China Crane Market Share, By Regions
- China Crane Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
The China crane market report provides a detailed analysis of the following market segments:
- By Types:
- Mobile Crane
- Fixed Crane
- Marine and Offshore Crane
- By Applications:
- Industrial Applications
- Marine and offshore
- Mining and Excavation
- Other Applicants