China Cranes Market Outlook (2023-2029) | Companies, Revenue, Trends, COVID-19 IMPACT, Analysis, Growth, Share, Size, Industry, Forecast & Value

China Cranes Market | Country-Wise Share and Competition Analysis

In the year 2021, Germany was the largest exporter in terms of value, followed by Austria. It has registered a growth of 164.52% over the previous year. While Austria registered a growth of 440.65% as compared to the previous year. In the year 2017, Sweden was the largest exporter followed by Belgium. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, China has a Herfindahl index of 1253 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of 2886 which signifies high concentration in the market.

China Cranes Market - Export Market OpportunitiesTopics Covered in the China Cranes Market

China Cranes Market report thoroughly covers the market by product type and by end user. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

China Cranes Market Synopsis

China Cranes Market is projected to grow in the forthcoming years owing to several major growth drivers such as infrastructure development in the country, rapid urbanization, and growth of manufacturing, automotive, energy, and petrochemicals industries. Additionally, the government has implemented various initiatives to stimulate economic growth in the country, such as the Belt and Road Initiative and Made in China 2025. Moreover, the country’s impressive economic growth has led to massive development projects across the country. From high-rise buildings to extensive transportation networks, these projects require robust lifting equipment like cranes to handle heavy loads efficiently. The increasing adoption of advanced technologies is one of the major trends in the China Cranes Industry. However, the China cranes market faces certain challenges such as strict government regulations regarding environmental protection and safety standards. Additionally, the competition within the industry is fierce as both domestic manufacturers and international players are competing for market share.

According to 6Wresearch, the China Cranes Market is expected to grow steadily during the forecast period 2023-2029. The market is growing substantially, driven by various factors that present both opportunities and challenges for industry players. Some of the key drivers of this growth are rapid urbanization and industrialization across China. In addition to infrastructure development, other factors such as increased investment in renewable energy projects, expansion of ports and airports, and rising e-commerce activities are also fueling the demand for cranes in China and further boosting market growth. The country's focus on sustainable development has led to a surge in wind power installations, which require heavy-duty cranes for installation purposes. However, intense competition from domestic manufacturers as well as international players puts pressure on pricing strategies. Despite these challenges, several trends are shaping the cranes market in China such as increasing preference for electric-powered cranes due to their environmental benefits and lower operating costs. Automation and remote-controlled technologies are also gaining traction as they enhance efficiency and productivity while reducing human error.

COVID-19 Impact on the China Cranes Market

The outbreak of the COVID-19 pandemic has presented various challenges for the China cranes market growth, such as supply chain disruptions, reduced workforce availability, and financial constraints. However, some key players have shown resilience and adaptability in implementing safety measures while prioritizing employee health and well-being. Additionally, remote monitoring capabilities enabled by technological advancements were crucial during this time. As lockdown restrictions eased, construction activities resumed, leading to a gradual recovery in the market benefiting from government stimulus packages focusing on infrastructure development. An increased emphasis on sustainable practices led to the adoption of eco-friendly crane technologies.

Leading players in the China Cranes Market

The China Cranes Market is extremely competitive with the presence of various key players dominating the China Cranes Market Share. Some of the leading players in the market include;

• XCMG Group
• Sany Group
• Zoomlion Heavy Industry Science & Technology Co., Ltd
• Yutong Group
• XGC (Xuzhou Construction Machinery Group) Heavy Industry Co., Ltd
• LiuGong Machinery Co., Ltd
• Terex Corporation

The Future of the China Cranes Market

The future of the China cranes market looks promising, with many factors contributing to its predicted growth. Particularly, investments in infrastructure projects, the expansion of industries such as manufacturing and transportation, as well as technological advancements in automation and digitization are anticipated to drive demand. Nonetheless, there are several challenges still remain that must be addressed for long-term success. This includes maintaining a qualified workforce and competing in a highly competitive market by innovating products and providing outstanding after-sales services.

Market Analysis by Product Types

According to Vasudha, Senior Research Analyst, 6Wresearch, the mobile crane segment is expected to be the prominent driver of crane market of China due to its versatility, ease of transportation, and suitability for various construction applications.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• China Cranes Market Outlook
• Market Size of China Cranes Market, 2022
• Forecast of China Cranes Market, 2029
• Historical Data and Forecast of China Cranes Revenues & Volume for the Period 2019 - 2029
• China Cranes Market Trend Evolution
• China Cranes Market Drivers and Challenges
• China Cranes Price Trends
• China Cranes Porter's Five Forces
• China Cranes Industry Life Cycle
• Historical Data and Forecast of China Cranes Market Revenues & Volume By Product Type for the Period 2019 - 2029
• Historical Data and Forecast of China Cranes Market Revenues & Volume By Mobile for the Period 2019 - 2029
• Historical Data and Forecast of China Cranes Market Revenues & Volume By Fixed for the Period 2019 - 2029
• Historical Data and Forecast of China Cranes Market Revenues & Volume By Marine for the Period 2019 - 2029
• Historical Data and Forecast of China Cranes Market Revenues & Volume By End-User for the Period 2019 - 2029
• Historical Data and Forecast of China Cranes Market Revenues & Volume By Construction for the Period 2019 - 2029
• Historical Data and Forecast of China Cranes Market Revenues & Volume By Mining for the Period 2019 - 2029
• Historical Data and Forecast of China Cranes Market Revenues & Volume By Industrial for the Period 2019 - 2029
• Historical Data and Forecast of China Cranes Market Revenues & Volume By Oil & Gas for the Period 2019 - 2029
• Historical Data and Forecast of China Cranes Market Revenues & Volume By Others for the Period 2019 - 2029
• China Cranes Import Export Trade Statistics
• Market Opportunity Assessment By Product Type
• Market Opportunity Assessment By End-User
• China Cranes Top Companies Market Share
• China Cranes Competitive Benchmarking By Technical and Operational Parameters
• China Cranes Company Profiles
• China Cranes Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Product Type

• Mobile
• Fixed
• Marine

By End-User

• Construction
• Mining
• Industrial
• Oil & Gas
• Others