China Crane Market (2020-2026) | Industry, Value, Revenue, Outlook, Size, Forecast, Growth, Share, Analysis, Companies, Trends & COVID-19 IMPACT

Market Forecast By Types (Mobile Crane, Fixed Crane, Marine, and Offshore Crane), By Applications (Industrial Applications, Marine and offshore, Mining and Excavation, Construction) and Competitive Landscape

Product Code: ETC002119	Publication Date: Apr 2020	Updated Date: Aug 2023	Product Type: Report
Publisher: 6Wresearch	No. of Pages: 70	No. of Figures: 35	No. of Tables: 5

China Crane Market Shipment Analysis

China Crane Market registered a growth of 190.99% in value shipments in 2022 as compared to 2021 and a decrease of -8.72% CAGR in 2022 over a period of 2017. In Crane Market China is becoming less competitive as HHI index in 2022 was 2033 while in 2017 it was 1253. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market.

China has reportedly relied more on domestic production to meet its growing demand in Crane Market. India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Crane Market in 2022 was 0.03 while in 2017 it was 0.02. Germany, Luxembourg, Japan, Czechia and South Korea were among the top players of the market in 2022, where Germany acquired the largest market share of 34.78% with a shipment value of 7.4 million USD in 2022 Germany also offered the product below the average market price thus having a competitive advantage over others In 2017 Sweden had the largest market share of 24.44% with the shipment value of 11.98 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Sweden offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the China Crane Market in 2017.

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