Malaysia crane market is likely to witness tremendous growth as a result of rising disposable income, developing commercial infrastructure, growing tourism sector as well as rising construction activities over the past few years. However, the Malaysia 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 Malaysia is expected to recover steadily in the next few years, the crane market in Malaysia is also likely to recover gradually over the years to come.
According to 6Wresearch, the Malaysia Crane Market size is likely to witness growth during 2020-2026. This growth is primarily attributed to government initiatives towards infrastructural development activities along with the commencement of new projects including the expansion of the railway network and construction of hospitals in the country. For instance, the government has revived the mega project of construction of a 640 km East Coast rail link to be completed by 2026. Additionally, the government has also invested $382 million for constructing new hospitals in 2020. Further, the launch of the National industry 4.0 Policy by the government will enhance the productivity of the manufacturing sector in the country. These initiatives will spur the growth of the crane market during the forecast period.
In terms of crane type, the mobile crane dominates the overall Malaysian crane market due to growing industrialization and construction projects in the country. Additionally, the industrial and commercial application is the key revenue-generating segment in the Malaysia crane market. Further, the demand for tower cranes is rising as a result of the rising housing construction projects in the country.
The Malaysia crane market report thoroughly covers the market by types, applications, and regions. Malaysia's crane market outlook report provides an unbiased and detailed analysis of the on-going Malaysia 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.
Malaysia crane market is projected to register sound revenues in the coming timeframe on the back of the rise in the commercialization of essential minerals and other natural resources such as coal, rock salt, and clay extract by using a crane machine which makes the task much easier and low time consuming and is expected to shape the crane market in the coming years... Further, the manufacturing sector is gaining traction in the country as a result of increased foreign investment coupled with the domestic investment to spur domestic production. Hence, for the efficient assembling of heavy equipment to keep the manufacturing sector growth in good terms and to ensure greater productivity, the adoption of cranes is expected to be witnessed at an increased level and would instigate the growth of the Malaysia crane market in the coming years.
Key Highlights of the Report:
- Malaysia Crane Market Overview
- Malaysia Crane Market Outlook
- Malaysia Crane Market Forecast
- Historical Data of Malaysia Crane Market Revenues & Volume for the Period 2016-2019.
- Malaysia Crane Market Size and Malaysia Crane Market Forecast of Revenues and Volume, Until 2026.
- Historical Data of Malaysia Crane Market Revenues and Volume, By Applications, for the Period 2016-2019
- Market Size & Forecast of Malaysia Crane Market Revenues and Volume, By Applications, Until 2026
- Historical Data of Malaysia Crane Market Revenues and Volume, By Types, for the Period 2016-2019
- Market Size & Forecast of Malaysia Crane Market Revenues and Volume, By Types, Until 2026
- Historical Data of Malaysia Crane Market Revenues and Volume, By Regions, for the Period 2016-2019
- Market Size & Forecast of Malaysia Crane Market Revenues and Volume, By Regions, Until 2026
- Market Drivers and Restraints
- Malaysia Crane Market Trends and Industry Life Cycle
- Porter's Five Force Analysis
- Market Opportunity Assessment
- Malaysia Crane Market Share, By Players
- Malaysia Crane Market Share, By Regions
- Malaysia Crane Market Overview on Competitive Benchmarking
- Company Profiles
- Key Strategic Recommendations
The Malaysia 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