What is Global Luffing Jib Tower Cranes Market?
The Global Luffing Jib Tower Cranes Market is an expansive and dynamic sector that focuses on the production, distribution, and use of luffing jib tower cranes. These cranes are a specific type of crane used in construction and other heavy-duty industries, characterized by their 'luffing' or adjustable jib. The jib, or the arm of the crane, can be moved up and down, allowing for more flexibility and precision in lifting and moving heavy loads. The global market for these cranes is vast and varied, with numerous manufacturers, suppliers, and users contributing to its growth and development. The market is driven by various factors such as the increasing demand for construction and infrastructure projects, technological advancements in crane design and functionality, and the growing need for efficient and safe lifting solutions in various industries. However, the market also faces several challenges such as high initial investment costs, maintenance issues, and safety concerns. Despite these challenges, the Global Luffing Jib Tower Cranes Market continues to show promising growth and potential, making it a significant area of interest for market researchers and industry stakeholders.
Max. Load Capacity Below 30t, Max. Load Capacity 30-50t, Max. Load Capacity Above 50t in the Global Luffing Jib Tower Cranes Market:
The Global Luffing Jib Tower Cranes Market is segmented based on the maximum load capacity of the cranes. These segments include cranes with a maximum load capacity of below 30t, between 30-50t, and above 50t. Cranes with a maximum load capacity of below 30t are typically used for smaller-scale projects and tasks. They are compact, easy to maneuver, and ideal for use in tight spaces or areas with limited access. On the other hand, cranes with a maximum load capacity of 30-50t are more robust and versatile. They can handle larger and heavier loads, making them suitable for medium to large-scale projects. Lastly, cranes with a maximum load capacity of above 50t are the most powerful and durable. They are designed for heavy-duty tasks and large-scale projects, capable of lifting and moving extremely heavy loads. Each of these segments plays a crucial role in the overall market, catering to different needs and requirements of various industries and applications.
High Rise Buildings, Bridge Building, Others in the Global Luffing Jib Tower Cranes Market:
The Global Luffing Jib Tower Cranes Market finds its usage in various areas including high rise buildings, bridge building, and others. In high rise buildings, these cranes are used for lifting and moving heavy materials and equipment to great heights. They offer a safe and efficient solution for transporting goods vertically, which is a common requirement in high rise construction. In bridge building, luffing jib tower cranes are used for lifting and placing large and heavy bridge components. They provide the necessary power and precision for such complex and demanding tasks. Other areas where these cranes are used include shipyards, power plants, and industrial factories. In these settings, the cranes are used for various tasks such as loading and unloading heavy cargo, assembling large machinery, and performing maintenance and repair work. The versatility and functionality of luffing jib tower cranes make them an essential tool in these and many other areas.
Global Luffing Jib Tower Cranes Market Outlook:
The global Luffing Jib Tower Cranes market, as per the recent data, was valued at US$ 191 million in 2022. The market is expected to grow and reach a value of US$ 210.8 million by 2029. This indicates a Compound Annual Growth Rate (CAGR) of 1.4% during the forecast period from 2023 to 2029. The market is dominated by the top five manufacturers who collectively hold a significant market share of about 75%. This shows the concentration of the market and the strong presence of these leading players. In terms of geographical distribution, China is the largest market for luffing jib tower cranes, accounting for about 65% of the total market share. This is followed by Europe, which holds about 30% of the market share. These figures highlight the significant role of these regions in the global Luffing Jib Tower Cranes market.
| Report Metric | Details |
| Report Name | Luffing Jib Tower Cranes Market |
| Accounted market size in 2023 | US$ 191 million |
| Forecasted market size in 2030 | US$ 210.8 million |
| CAGR | 1.4% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Zoomlion, SCM, Fushun Yongmao, XCMG, DAHAN, Manitowoc, Liebherr, WOLFFKRAN, Terex, FAVCO, HKTC |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
