Crane After market Size By Type (Replacement Parts, Services), By Application (Mobile Crane, Crawler Crane, Rough Terrain Crane, Truck Loader Crane, Fixed Crane [Monorail Crane, Tower Crane, Stiffleg Crane, Gantry Crane]) & Global Forecast Report, 2023 - 2032
Published on: 2024-07-08 | No of Pages : 240 | Industry : Construction
Publisher : MRA | Format : PDF&Excel
Crane After market Size By Type (Replacement Parts, Services), By Application (Mobile Crane, Crawler Crane, Rough Terrain Crane, Truck Loader Crane, Fixed Crane [Monorail Crane, Tower Crane, Stiffleg Crane, Gantry Crane]) & Global Forecast Report, 2023 - 2032
Crane After market Size By Type (Replacement Parts, Services), By Application (Mobile Crane, Crawler Crane, Rough Terrain Crane, Truck Loader Crane, Fixed Crane [Monorail Crane, Tower Crane, Stiffleg Crane, Gantry Crane]) & Global Forecast Report, 2023 - 2032
Crane AfterMarket Size
Crane Aftermarket size exceeded USD 7 billion in 2022 and is projected to expand at over 6% CAGR from 2023 to 2032. Rapid urbanization and a rising focus on infrastructure development will complement the business trends.
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Over the last decade, there has been a dynamic surge in investments in urban development projects from private as well as public organizations. Governments across the globe are prioritizing the development of urban infrastructure projects including commercial spaces such as airports and malls for economic growth. This is accelerating the need for cranes and crane spare parts.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Crane Aftermarket Size in 2022 | 7 Billion (USD) |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6% |
| 2032 Value Projection | 15 Billion (USD) |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 998 |
| Segments covered | Type, and Region |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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Fierce competition between OEMs and local vendors is expected to introduce new challenges for industry players. A solid footprint of several local manufacturers that are producing and supplying replacement spare parts & accessories at an affordable rate would raise business competition. Crane spare parts produced by OEMs are typically more expensive with longer delivery times, which is not the case with local providers. The increasing popularity of local vendors and the growing number of local businesses could slightly impact crane aftermarket trends.
Crane AfterMarket Analysis
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The replacement parts segment is set to exhibit nearly 5% growth rate up to 2032. Increasing demand for aftermarket replacement parts can be attributed to the rising deployment of cranes across a range of industrial applications. Rapid industrialization has propelled the need for heavy-duty equipment that can cater to longer operational hours in harsh environments such as extreme climatic conditions. Working in such environmental conditions can lead to frequent wear and tear of parts such as shafts, gears, and motors. Crane operators prefer aftermarket replacement parts as they are cheaper and available in a wide variety of options.
According to the crane aftermarket market analysis report, the fixed cranes segment is anticipated to reach USD 4 billion by 2032. Fixed cranes are extensively deployed across mining, oil & gas, and offshore container sites. These cranes feature advanced proximity sensors which ensure smooth operations. Fixed cranes such as tower cranes, gantry cranes, monorail cranes, and stiffleg cranes are each designed for unique utility purposes.
For instance, monorail cranes are widely deployed across manufacturing and automotive facilities to relocate materials within limited spaces. High exposure to operation-intensive environments consisting of hoists, tracks & electric systems, and trolleys will drive the demand for aftermarket parts.
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Asia Pacific crane aftermarket is predicted to record a CAGR of more than 7% through 2032. The ongoing expansion of telecom networks across APAC and rapid penetration of communication equipment will increase the need for cranes. Countries like India and China have witnessed significant infrastructure development and substantial investments by respective governments. The constantly increasing population across these countries is compelling the need for a robust urban infrastructure.
According to the World Bank, urban cities in India will accommodate 600 million people by 2036, accounting for 40% of the nation’s population. This is estimated to fuel urban infrastructure initiatives in the country, showcasing lucrative opportunities for industry players.
Impact of COVID-19 Pandemic
The COVID-19 pandemic introduced several challenges in the crane aftermarket. Due to significant economic losses, disrupted global trade, and supply chain challenges, several manufacturing, and industrial businesses ceased their operations. The pandemic further exacerbated raw material shortages and inflation resulting in a fiercely competitive environment.
Supply chain bottlenecks along with restricted production capacities caused inflation and a shortage of steel. According to the Institute of Supply Management, steel prices continued to escalate between August 2020 and October 2021 for 14 consecutive months. High volatility in raw material costs affected the production of crane components such as bar stocks, coils, and sheet plates.
Crane AfterMarket Share
Some of the leading companies in the global market include
- Altec Industries
- Bonfiglioli
- Columbus Mckinnon Corporation
- Hiab
- Kato Works Co. Ltd.
- Kobelco Construction Machinery
- Konecranes
- Manitex International
- Manitowoc
- Palfinger AG
- Sany Group
- Tadano Ltd.
- Terex Corporation
- XCM
- Zoomlion.
These participants are mainly focusing on product innovation and development initiatives.
This market research report on crane aftermarket includes in-depth coverage of the industry with estimates & forecasts in terms of revenue in USD from 2018 to 2032 for the following segments
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Market, By Type
- Replacement Parts
- Gears
- Shafts
- Controls
- Motors
- Brakes
- Others
- Service
Market, By Application
- Mobile Crane
- All terrain crane
- Replacement parts
- Gears
- Shafts
- Controls
- Motors
- Brakes
- Others
- Services
- Replacement parts
- Crawler crane
- Replacement parts
- Gears
- Shafts
- Controls
- Motors
- Brakes
- Others
- Services
- Replacement parts
- Rough terrain crane
- Replacement parts
- Gears
- Shafts
- Controls
- Motors
- Brakes
- Others
- Services
- Replacement parts
- Truck loader crane
- Replacement parts
- Gears
- Shafts
- Controls
- Motors
- Brakes
- Others
- Services
- Replacement parts
- All terrain crane
- Fixed Crane
- Monorail crane
- Replacement parts
- Gears
- Shafts
- Controls
- Motors
- Brakes
- Others
- Services
- Replacement parts
- Tower crane
- Replacement parts
- Gears
- Shafts
- Controls
- Motors
- Brakes
- Others
- Services
- Replacement parts
- Stiffleg crane
- Replacement parts
- Gears
- Shafts
- Controls
- Motors
- Brakes
- Others
- Services
- Replacement parts
- Gantry crane
- Replacement parts
- Gears
- Shafts
- Controls
- Motors
- Brakes
- Others
- Services
- Replacement parts
- Monorail crane
The above information has been provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- MEA
- Saudi Arabia
- UAE
- South Africa
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Scope & definitions
1.2 Methodology and forecast parameters
1.3 COVID-19 impact
1.4 Data Sources
1.4.1 Secondary
1.4.2 Primary
1.5 Glossary
Chapter 2 Executive Summary
2.1 Crane aftermarket industry 360º synopsis, 2018– 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM)
2.3 Regional trends
2.4 Type trends
2.5 Application trends
Chapter 3 Crane Aftermarket Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.2.1 North America
3.2.2 Europe
3.2.3 Asia Pacific
3.2.4 LAMEA
3.3 Impact of Russia-Ukraine conflict
3.4 Crane aftermarket industry ecosystem analysis
3.4.1 Raw material supplier
3.4.2 Manufacturers
3.4.3 Distribution channel analysis
3.4.4 Profit margin analysis
3.4.5 Vendor matrix
3.5 Technology & innovation landscape
3.6 Patent analysis
3.7 Investment portfolio
3.8 Key initiatives & news
3.9 Regulatory landscape
3.9.1 North America.
3.9.2 Europe
3.9.3 Asia Pacific
3.9.4 LAMEA
3.10 Industry impact forces
3.10.1 Growth drivers
3.10.1.1 Growing residential & commercial construction globally
3.10.1.2 Rising adoption of cranes and lifting equipment in application industries
3.10.1.3 Growing demand for rental crane machines in North America and Asia Pacific
3.10.1.4 The growing presence of established crane & parts manufacturers in Europe & Asia
3.10.1.5 Increasing demand for aftermarket crane products services in MEA and Latin America
3.10.1.6 Transformation of the construction industry globally
3.10.2 Industry pitfalls & challenges
3.10.2.1 Presence of several local players offering low cost products
3.10.2.2 Impact of COVID-19 pandemic
3.11 Growth potential analysis
3.12 Porter’s analysis
3.12.1 Supplier power
3.12.2 Buyer power
3.12.3 Threat of new entratnt
3.12.4 Threat of substitute
3.12.5 Internal rivalry
3.13 PESTEL analysis
3.13.1 Political
3.13.2 Economical
3.13.3 Social
3.13.4 Technological
3.13.5 Environmental
3.13.6 Legal
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competive analysis of major market players
4.3.1 Columbus Mckinnon Corporation
4.3.2 Liebherr Group
4.3.3 Sany Group
4.3.4 XCMG
4.3.5 Manitowoc Corporation
4.3.6 Tadano Corporation
4.4 Competive analysis of innovative players
4.4.1 Zoomlion Heavy Industry Science and Technology Co., Ltd.
4.4.2 Konecranes
4.4.3 Altec Industries
4.4.4 Terex Corporation
4.5 Competitive positioning matrix
4.6 Strategic outlook matrix
Chapter 5 Crane Aftermarket, By Type
5.1 Key trends, by type
5.2 Replacement parts
5.2.1 Market estimates and forecast, 2018– 2032
5.2.2 Gears
5.2.2.1 Market estimates and forecast, 2018– 2032
5.2.3 Shafts
5.2.3.1 Market estimates and forecast, 2018– 2032
5.2.4 Controls
5.2.4.1 Market estimates and forecast, 2018– 2032
5.2.5 Motors
5.2.5.1 Market estimates and forecast, 2018– 2032
5.2.6 Brakes
5.2.6.1 Market estimates and forecast, 2018– 2032
5.2.7 Others
5.2.7.1 Market estimates and forecast, 2018– 2032
5.3 Service
5.3.1 Market estimates and forecast, 2018– 2032
Chapter 6 Crane Aftermarket, By Application
6.1 Key trends, by application
6.2 Mobile cranes
6.2.1 Market estimates and forecast, 2018– 2032
6.2.2 All terrain cranes
6.2.2.1 Market estimates and forecast, 2018– 2032
6.2.2.2 Replacement parts
6.2.2.2.1 Market estimates and forecast, 2018– 2032
6.2.2.2.2 Gears
6.2.2.2.2.1 Market estimates and forecast, 2018– 2032
6.2.2.2.3 Shaft
6.2.2.2.3.1 Market estimates and forecast, 2018– 2032
6.2.2.2.4 Control
6.2.2.2.4.1 Market estimates and forecast, 2018– 2032
6.2.2.2.5 Motors
6.2.2.2.5.1 Market estimates and forecast, 2018– 2032
6.2.2.2.6 Brakes
6.2.2.2.6.1 Market estimates and forecast, 2018– 2032
6.2.2.2.7 Others
6.2.2.2.7.1 Market estimates and forecast, 2018– 2032
6.2.2.3 Service
6.2.2.3.1 Market estimates and forecast, 2018– 2032
6.2.3 Crawler Cranes
6.2.3.1 Market estimates and forecast, 2018– 2032
6.2.3.2 Replacement parts
6.2.3.2.1 Market estimates and forecast, 2018– 2032
6.2.3.2.2 Gears
6.2.3.2.2.1 Market estimates and forecast, 2018– 2032
6.2.3.2.3 Shaft
6.2.3.2.3.1 Market estimates and forecast, 2018– 2032
6.2.3.2.4 Control
6.2.3.2.4.1 Market estimates and forecast, 2018– 2032
6.2.3.2.5 Motors
6.2.3.2.5.1 Market estimates and forecast, 2018– 2032
6.2.3.2.6 Brakes
6.2.3.2.6.1 Market estimates and forecast, 2018– 2032
6.2.3.2.7 Others
6.2.3.2.7.1 Market estimates and forecast, 2018– 2032
6.2.3.3 Service
6.2.3.3.1 Market estimates and forecast, 2018– 2032
6.2.4 Rough terrain cranes
6.2.4.1 Market estimates and forecast, 2018– 2032
6.2.4.2 Replacement parts
6.2.4.2.1 Market estimates and forecast, 2018– 2032
6.2.4.2.2 Gears
6.2.4.2.2.1 Market estimates and forecast, 2018– 2032
6.2.4.2.3 Shaft
6.2.4.2.3.1 Market estimates and forecast, 2018– 2032
6.2.4.2.4 Control
6.2.4.2.4.1 Market estimates and forecast, 2018– 2032
6.2.4.2.5 Motors
6.2.4.2.5.1 Market estimates and forecast, 2018– 2032
6.2.4.2.6 Brakes
6.2.4.2.6.1 Market estimates and forecast, 2018– 2032
6.2.4.2.7 Others
6.2.4.2.7.1 Market estimates and forecast, 2018– 2032
6.2.4.3 Service
6.2.4.3.1 Market estimates and forecast, 2018– 2032
6.2.5 Truck Loader Cranes
6.2.5.1 Market estimates and forecast, 2018– 2032
6.2.5.2 Replacement parts
6.2.5.2.1 Market estimates and forecast, 2018– 2032
6.2.5.2.2 Gears
6.2.5.2.2.1 Market estimates and forecast, 2018– 2032
6.2.5.2.3 Shaft
6.2.5.2.3.1 Market estimates and forecast, 2018– 2032
6.2.5.2.4 Control
6.2.5.2.4.1 Market estimates and forecast, 2018– 2032
6.2.5.2.5 Motors
6.2.5.2.5.1 Market estimates and forecast, 2018– 2032
6.2.5.2.6 Brakes
6.2.5.2.6.1 Market estimates and forecast, 2018– 2032
6.2.5.2.7 Others
6.2.5.2.7.1 Market estimates and forecast, 2018– 2032
6.2.5.3 Service
6.2.5.3.1 Market estimates and forecast, 2018– 2032
6.3 Fixed Cranes
6.3.1 Market estimates and forecast, 2018– 2032
6.3.2 Monorail cranes
6.3.2.1 Market estimates and forecast, 2018– 2032
6.3.2.2 Replacement parts
6.3.2.2.1 Market estimates and forecast, 2018– 2032
6.3.2.2.2 Gears
6.3.2.2.2.1 Market estimates and forecast, 2018– 2032
6.3.2.2.3 Shaft
6.3.2.2.3.1 Market estimates and forecast, 2018– 2032
6.3.2.2.4 Control
6.3.2.2.4.1 Market estimates and forecast, 2018– 2032
6.3.2.2.5 Motors
6.3.2.2.5.1 Market estimates and forecast, 2018– 2032
6.3.2.2.6 Brakes
6.3.2.2.6.1 Market estimates and forecast, 2018– 2032
6.3.2.2.7 Others
6.3.2.2.7.1 Market estimates and forecast, 2018– 2032
6.3.2.3 Service
6.3.2.3.1 Market estimates and forecast, 2018– 2032
6.3.3 Tower cranes
6.3.3.1 Market estimates and forecast, 2018– 2032
6.3.3.2 Replacement parts
6.3.3.2.1 Market estimates and forecast, 2018– 2032
6.3.3.2.2 Gears
6.3.3.2.2.1 Market estimates and forecast, 2018– 2032
6.3.3.2.3 Shaft
6.3.3.2.3.1 Market estimates and forecast, 2018– 2032
6.3.3.2.4 Control
6.3.3.2.4.1 Market estimates and forecast, 2018– 2032
6.3.3.2.5 Motors
6.3.3.2.5.1 Market estimates and forecast, 2018– 2032
6.3.3.2.6 Brakes
6.3.3.2.6.1 Market estimates and forecast, 2018– 2032
6.3.3.2.7 Others
6.3.3.2.7.1 Market estimates and forecast, 2018– 2032
6.3.3.3 Service
6.3.3.3.1 Market estimates and forecast, 2018– 2032
6.3.4 Stiffleg cranes
6.3.4.1 Market estimates and forecast, 2018– 2032
6.3.4.2 Replacement parts
6.3.4.2.1 Market estimates and forecast, 2018– 2032
6.3.4.2.2 Gears
6.3.4.2.2.1 Market estimates and forecast, 2018– 2032
6.3.4.2.3 Shaft
6.3.4.2.3.1 Market estimates and forecast, 2018– 2032
6.3.4.2.4 Control
6.3.4.2.4.1 Market estimates and forecast, 2018– 2032
6.3.4.2.5 Motors
6.3.4.2.5.1 Market estimates and forecast, 2018– 2032
6.3.4.2.6 Brakes
6.3.4.2.6.1 Market estimates and forecast, 2018– 2032
6.3.4.2.7 Others
6.3.4.2.7.1 Market estimates and forecast, 2018– 2032
6.3.4.3 Service
6.3.4.3.1 Market estimates and forecast, 2018– 2032
6.3.5 Gantry cranes
6.3.5.1 Market estimates and forecast, 2018– 2032
6.3.5.2 Replacement parts
6.3.5.2.1 Market estimates and forecast, 2018– 2032
6.3.5.2.2 Gears
6.3.5.2.2.1 Market estimates and forecast, 2018– 2032
6.3.5.2.3 Shaft
6.3.5.2.3.1 Market estimates and forecast, 2018– 2032
6.3.5.2.4 Control
6.3.5.2.4.1 Market estimates and forecast, 2018– 2032
6.3.5.2.5 Motors
6.3.5.2.5.1 Market estimates and forecast, 2018– 2032
6.3.5.2.6 Brakes
6.3.5.2.6.1 Market estimates and forecast, 2018– 2032
6.3.5.2.7 Others
6.3.5.2.7.1 Market estimates and forecast, 2018– 2032
6.3.5.3 Service
6.3.5.3.1 Market estimates and forecast, 2018– 2032
Chapter 7 Crane Aftermarket, By Region
7.1 Key trends, by region
7.2 North America
7.2.1 Market estimates and forecast, 2018– 2032
7.2.2 Market estimates and forecast, by type, 2018– 2032
7.2.3 Market estimates and forecast, by application, 2018– 2032
7.2.4 U.S.
7.2.4.1 Market estimates and forecast, 2018– 2032
7.2.4.2 Market estimates and forecast, by type, 2018– 2032
7.2.4.3 Market estimates and forecast, by application, 2018– 2032
7.2.5 Canada
7.2.5.1 Market estimates and forecast, 2018– 2032
7.2.5.2 Market estimates and forecast, by type, 2018– 2032
7.2.5.3 Market estimates and forecast, by application, 2018– 2032
7.3 Europe
7.3.1 Market estimates and forecast, 2018– 2032
7.3.2 Market estimates and forecast, by type, 2018– 2032
7.3.3 Market estimates and forecast, by application, 2018– 2032
7.3.4 UK
7.3.4.1 Market estimates and forecast, 2018– 2032
7.3.4.2 Market estimates and forecast, by type, 2018– 2032
7.3.4.3 Market estimates and forecast, by application, 2018– 2032
7.3.5 Germany
7.3.5.1 Market estimates and forecast, 2018– 2032
7.3.5.2 Market estimates and forecast, by type, 2018– 2032
7.3.5.3 Market estimates and forecast, by application, 2018– 2032
7.3.6 France
7.3.6.1 Market estimates and forecast, 2018– 2032
7.3.6.2 Market estimates and forecast, by type, 2018– 2032
7.3.6.3 Market estimates and forecast, by application, 2018– 2032
7.3.7 Italy
7.3.7.1 Market estimates and forecast, 2018– 2032
7.3.7.2 Market estimates and forecast, by type, 2018– 2032
7.3.7.3 Market estimates and forecast, by application, 2018– 2032
7.3.8 Russia
7.3.8.1 Market estimates and forecast, 2018– 2032
7.3.8.2 Market estimates and forecast, by type, 2018– 2032
7.3.8.3 Market estimates and forecast, by application, 2018– 2032
7.4 Asia Pacific
7.4.1 Market estimates and forecast, 2018– 2032
7.4.2 Market estimates and forecast, by type, 2018– 2032
7.4.3 Market estimates and forecast, by application, 2018– 2032
7.4.4 China
7.4.4.1 Market estimates and forecast, 2018– 2032
7.4.4.2 Market estimates and forecast, by type, 2018– 2032
7.4.4.3 Market estimates and forecast, by application, 2018– 2032
7.4.5 India
7.4.5.1 Market estimates and forecast, 2018– 2032
7.4.5.2 Market estimates and forecast, by type, 2018– 2032
7.4.5.3 Market estimates and forecast, by application, 2018– 2032
7.4.6 Japan
7.4.6.1 Market estimates and forecast, 2018– 2032
7.4.6.2 Market estimates and forecast, by type, 2018– 2032
7.4.6.3 Market estimates and forecast, by application, 2018– 2032
7.4.7 South Korea
7.4.7.1 Market estimates and forecast, 2018– 2032
7.4.7.2 Market estimates and forecast, by type, 2018– 2032
7.4.7.3 Market estimates and forecast, by application, 2018– 2032
7.5 Latin America
7.5.1 Market estimates and forecast, 2018– 2032
7.5.2 Market estimates and forecast, by type, 2018– 2032
7.5.3 Market estimates and forecast, by application, 2018– 2032
7.5.4 Brazil
7.5.4.1 Market estimates and forecast, 2018– 2032
7.5.4.2 Market estimates and forecast, by type, 2018– 2032
7.5.4.3 Market estimates and forecast, by application, 2018– 2032
7.5.5 Mexico
7.5.5.1 Market estimates and forecast, 2018– 2032
7.5.5.2 Market estimates and forecast, by type, 2018– 2032
7.5.5.3 Market estimates and forecast, by application, 2018– 2032
7.6 MEA
7.6.1 Market estimates and forecast, 2018– 2032
7.6.2 Market estimates and forecast, by type, 2018– 2032
7.6.3 Market estimates and forecast, by application, 2018– 2032
7.6.4 Saudi Arabia
7.6.4.1 Market estimates and forecast, 2018– 2032
7.6.4.2 Market estimates and forecast, by type, 2018– 2032
7.6.4.3 Market estimates and forecast, by application, 2018– 2032
7.6.5 UAE
7.6.5.1 Market estimates and forecast, 2018&nd