Crane and Hoist Market 2017

DUBLIN, Jan. 9, 2018 /PRNewswire/ --

The "Crane and Hoist Market by Crane Type (Mobile Crane, Fixed Crane), Hoist Type (Wire Rope, Roller Load Chain, Welded Link Load Chain), Crane Operation (Hydraulic, Electric, Hybrid), Hoist Operation, Industry, Geography - Global Forecast to 2023" report has been added to Research and Markets' offering.

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Market Dynamics

Drivers

  • Increasing Demand for Lifting Loads in the Shipping Industry
  • Rising Demand for Ore Extraction And Handling Equipment in the Mining Industry

Opportunities

  • Increasing Demand for Material Handling Equipment in Aerospace & Defense Industry
  • Rising Demand in the Construction Industry

Challenges

  • Declining Prices of Oil And Gas
  • Lack of Skilled Manpower to Operate Cranes And Hoist

The cranes market is expected to be valued at USD 32.93 Billion in 2017 and is projected to reach USD 44.70 Billion by 2023, at a CAGR of 5.22% between 2017 and 2023.The hoists market is expected to be valued at 1.82 USD Billion in 2017 and is projected to reach USD 2.65 Billion by 2023, at a CAGR of 6.41% between 2017 and 2023. The growth of the crane and hoist market is propelled by the increasing demand for construction machinery in the construction industry and in the mining industry for ore extraction. The increasing demand for lifting loads in the shipping industry and for material handling equipment in the aerospace & defense industry is a key opportunity for the players in the crane and hoist market. The c....

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