Latest News- All-Terrain Crane Market: Less than 200 tons is expected to lead the Capacity segment during 2024-2028

The All-Terrain Crane Market is being driven by Growing construction industry

The All-Terrain Crane Market is expected to grow at a CAGR of 4.36% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 3823.3 million. All-terrain cranes are essential equipment in construction projects, particularly in sites with limited space. Navigating these cranes through tight spaces can be a challenge for end-users. To address this issue, Japanese crane manufacturer Tadano has collaborated with software development company HeavyGoods to create an online software application. This app, which is now available, enables users to simulate all-terrain crane maneuvers directly on Google Maps or using their own drone aerial imagery. By utilizing this technology, construction projects can enhance efficiency and safety, making the use of all-terrain cranes more effective in confined areas. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Capacity
  • Less than 200 tons
  • 200-500 tons
  • More than 500 tons
• Application
  • Construction
  • Industrial
  • Utilities
• Geography
  • APAC
    • China
    • Japan
  • Europe
    • Germany
    • France
  • North America
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Growing construction industry
• Increasing demand of all-terrain cranes from mining and power resource industry
• Growing demand from utilities sector

However, the market also witnesses some limitations, which are as follows:

• Volatility in raw material prices
• Stringent emission norms
• Challenge from rentals

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Market Scope in All-Terrain Crane Market Research Report

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Research Analysis Overview

The All-Terrain Crane Market encompasses cranes equipped with advanced features such as all-wheel drive and four-wheel steering for enhanced maneuverability. Ground pressure control, torque and traction control, and sophisticated suspension systems ensure optimal performance on various terrains. Tire technology, axle configuration, load moment indicators, wind sensors, and boom oscillation control contribute to improved stability and safety. Crane control systems, operator interfaces, jobsite safety protocols, lifting plans, work area clearance, and access control ensure efficient and safe crane operations. Environmental regulations, crane maintenance logs, service intervals, fault diagnostics, remote monitoring, data analytics, crane simulation, virtual reality training, and augmented reality guidance are essential for optimizing crane performance and reducing downtime.

Market Research Overview

The All-Terrain Crane market is a significant segment of the larger industrial machinery and supplies and components market. This market caters to companies manufacturing hydraulic systems, outrigger systems, boom lengths, and lifting capacities for all-terrain cranes. The market's growth is driven by the increasing demand for terrain adaptability and off-road mobility in various industries. Key factors influencing the market's expansion include the growing industrial output in process and discrete industries, particularly in developing countries, leading to capacity additions in energy, chemicals and petrochemicals, pulp and paper products, and processed food and beverages sectors. Technavio projects the global industrial machinery and supplies and components market to grow due to the combined revenue generated by manufacturers of machinery and components used in industrial environments. The market's size is determined by the demand for advanced features such as load charts and stability control systems in all-terrain cranes.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/