Elevating Potential: Crane Aftermarket Projected to Surpass US$13.29 Billion by 2033, Unveils Latest Research by Future Market Insights

Aug 04, 2023

The global crane aftermarket is predicted to register a CAGR of 6% over the forecast period, as per FMI’s analysis. The industry’s market size is anticipated to rise from US$ 7.42 billion in 2023 to US$ 13.29 billion by 2033 end.

The world’s rising energy demand, which is driving up the requirement for reliable power grids, is predicted to drive the crane aftermarket. Many nations have made commitments in recent years to provide significant financial and non-financial resources for the modernisation and growth of electricity grids as well as for the revitalization of the distribution infrastructure.

Additionally, it is anticipated that the substantial investments to support the development of reliable energy transmission and distribution (T&D) networks while modernising the current networks will drive the crane aftermarket. Due to the rapid adoption of cranes in the manufacturing and industrial sectors, the market is also anticipated to expand steadily.

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The escalating deployment of monorail cranes and gantry cranes in factory set-up applications and heavy material handling is expected to push the market expansion. Further, the increasing demand for crawler cranes to steer rough and inaccessible surfaces and lift tremendously heavy loads is projected to enhance market scope over the forecast period.

Key Highlights of the Crane Aftermarket:

A Glimpse of the Current Market Competition Scenario

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Crane Aftermarket:

1) https://www.globenewswire.com/news-release/2023/02/14/2608030/0/en/Crane-Aftermarket-is-expected-to-cross-a-valuation-of-USD-13-29-billion-by-2033-According-to-Recent-Research-Study-by-Future-Market-Insights-Inc.html#:~:text=The%20industry’s%20market%20size%20is,demand%20for%20robust%20power%20grids.

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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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