DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/6pxkm3/global_crane) has announced the addition of the "Global Crane Market 2012-2016" report to their offering.
This report forecasts the Global Crane market to grow at a CAGR of 7.16 percent over the period 2012-2016. One of the key factors contributing to this market growth is the increasing civil engineering and construction activities in the APAC region. The Global Crane market has also been witnessing the development of next-generation cranes. However, the increasing total cost of ownership could pose a challenge to the growth of this market.
The key vendors dominating this market space are Liebherr Group, Cargotec Oy, Terex Corp., and XCMG Group.
The other vendors mentioned in the report are Zoomlion Heavy Industry Science and Technology Development Co. Ltd., Konecranes Oyj, Manitowoc Co. Inc., Shanghai Zhenhua Heavy Industries Co. Ltd., Tadano Ltd., Sany Heavy Industry Co. Ltd., Kato Works Co. Ltd., Kobelco Construction Machinery Co. Ltd., Columbus McKinnon Corp., Palfinger AG, Sennebogen Maschinenfabrik GmbH, Link-Belt Construction Equipment Co., Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd., Furukawa Unic Corp., Fuwa Heavy Industry Machinery Co. Ltd., and Favelle Favco Group.
Commenting on the report, an analyst from the Engineering team said: 'The growth of the Global Crane lies behind the increase in technological innovation across the globe. Several manufacturers are developing technologically advanced cranes which have better control systems and are more efficient. For instance, some manufacturers are developing cranes that are equipped with an electrical variable frequency drive (VFD) system. This system has the capability to control the rotational speed of an alternating current motor. Moreover, a VFD crane only requires a low start current and does not require a peak start current, which makes this crane more precise and accurate than any other cranes such as electrohydraulic cranes, making them an attractive option for end-users. Thus, the development of next-generation cranes will lead to the growth of Global Crane market during forecast period.'
For more information visit http://www.researchandmarkets.com/research/6pxkm3/global_crane.
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