LONDON--(BUSINESS WIRE)--According to the global telescopic crane market research report by Technavio, the market will register a CAGR of almost 5% during the period 2019-2023.
A key driver for the global telescopic crane market is the flexible applicability of telescopic cranes. Telescopic cranes have a wide range of applications ranging from the construction sector to rescue operations. These cranes are increasingly used in the construction sector in several significant construction projects. Additionally, they are also being employed in the energy and power distribution sector and in the installation of wind turbines, maintenance of refineries, and establishing power plants.
This global telescopic crane market research report provides an analysis of the most important trends expected to impact the market outlook during the period 2019-2023. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
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In this report, Technavio highlights the increasing adoption of telescopic cranes for rescue operations as one of the key trends in the global telescopic crane market:
Global telescopic crane market: Increasing adoption of telescopic cranes for rescue operations
Telescopic cranes are finding significant non-traditional applications such as rescue operations owing to the various innovations as well as technological advancements in crane technology. Telescopic cranes can help in shortening rescue/recovery times while exposing fewer rescuers to site dangers. This has resulted in an increased adoption of telescopic cranes for rescue operations as their heavy lifting and moving capabilities can increase their effectiveness during such operations.
“Kenya acquired the telescopic boom crane offered by China Road and Bridge Corporation in 2017. The corporation is an engineering, procurement, and construction contractor. The telescopic boom will be used for recovering stalled or derailed vehicles on the Mombasa-Nairobi standard gauge railway. Many countries are increasingly emphasizing on research and development projects in the field of rescue,” says a senior research analyst at Technavio.
Global telescopic crane market: Segmentation analysis
This telescopic crane market analysis report segments the market by end-user (construction, industrial, and utilities) and geography (the Americas, APAC, and EMEA).
The construction segment held the largest telescopic crane market share in 2018, accounting for nearly 45% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
EMEA led the market in 2018 with more than 41% of the market share, followed by the Americas and APAC respectively. The EMEA region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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