Dublin, Nov. 01, 2021 (GLOBE NEWSWIRE) -- The "India Crane Market - Strategic Assessment & Forecast 2021-2027" report has been added to ResearchAndMarkets.com's offering.
India crane market size will be valued at USD 1.3 billion, growing at a compound annual growth rate (CAGR) of 5.56% by volume during 2021-2027
The impact of low interest rates on the construction industry has been significant. Buyers of construction equipment in India have boosted their confidence in renewing their fleets. Furthermore, since 2017, public investment has increased. The Indian government is also taking a lot of initiatives to fund the infrastructure of the country. Additionally, the country's well-developed administration and independent judicial system and its large geography make it a resource repository.
The vendor's ability to finance the purchasing of parts and components required to manufacture is inspired by purchasing power of contractors. New advancements in technology and facilities are expected to boost the production and product portfolio for the vendors operating in India. The investment ratio of 51:49 joint venture between Tadano and Escorts will enable both partners to improve their current and future capabilities in the segment worldwide.
INDIA CRANE MARKET INSIGHTS
In 2019, India became the 15th leading exporter of cranes in the world. This position will improve in the forecast period as the government plans to spend money on infrastructure to grow the country's manufacturing sector. Automated safety features added recently in the products will provide players a significant edge over other players.
In India, the rental business is rising rapidly. With most OEMs offering rental services in this space, the major part of the rental equipment market in India is dominated by unorganized players.
KEY HIGHLIGHTS FROM THE REPORT
Over the last three to four years, the Indian crane market has witnessed growth fueled by government initiatives such as the Macron Law. India's exports slowed down because of the pandemic in July 2020. But there will be growth in coming years due to the recovery of the US, Japan, and China markets which are the crucial trade partners of India.
INDIA CRANE MARKET SEGMENTATION ANALYSIS
A rough terrain crane is preferred due to its compact frame. They are suitable for navigating through and lifting in confined areas. The construction of the Gujarat International finance Tec-city (GIFT city) boosts the development of new projects in the region. Thereby driving demand for tower cranes as they are commonly used to build tall structures such as skyscrapers.
WHY SHOULD YOU BUY THIS REPORT?
This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:
Volume (Unit sales)
Gain competitive intelligence about the economic scenario, advantages in India major projects and investments, dynamics, and market share
Examples of latest technologies
Get presentation-ready format and easy-to-interpret data.
Enable decision-makers to make informed and profitable choices
Gain expert quantitative and qualitative analysis on value/volume growth projections of India crane market share
Complete supply chain analysis
Get COVID-19 impact analysis of the market.
Company Profile of 9 key vendors and 5 other prominent vendors
Segmentation by Crane Type
Rough Terrain Cranes
Truck Mounted Cranes
Segmentation by Application
Segmentation by Gross Power
Less than 20 Tons
Greater than 201 Tons
Tadano Escorts India Pvt. Ltd
Action Construction Equipment Limited (ACE)
TIL Tractors Limited
Kobelco Construction Equipment India (KCEI)
Other Prominent Vendors
Zoomlion Heavy Industry
Broderson Manufacturing Corp
Comlift Hydraulics India Pvt Ltd
Santek Equipments Pvt. Ltd
Komatsu India Pvt. Ltd.
Sanghvi Movers Limited (SML)
For more information about this report visit https://www.researchandmarkets.com/r/mqaz7s
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