Global Industrial Indoor Overhead Cranes Market 2018-2022 | Growth Analysis and Forecast | Technavio
LONDON--(BUSINESS WIRE)--Oct 8, 2018-- global industrial indoor overhead cranes market research report forecasts the market to grow at a CAGR of almost 4% during the forecast period.
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Technavio has published a new market research report on the global industrial indoor overhead cranes market for the period 2018-2022. (Graphic: Business Wire)
The growing demand for crane rentals will be one of the major trends in the during 2018-2022. The demand for industrial equipment has increased due to the growing industrialization and investments in various infrastructural projects. Crane rentals provide several advantages such as safety, reduction in time and cost, and no maintenance issues. Hence, the demand for crane rentals has been increasing.
According to Technavio analysts, one of the key drivers for the global industrial indoor overhead cranes market is the increased capital investment in oil and gas storage:
Global industrial indoor overhead cranes market: Increasing capital investment in oil and gas storage
Oil and gas storage is becoming a strategic tool to get profitable returns in the global market owing to the volatility in prices of crude oil and the depletion of crude oil reserves. The oil is purchased at low prices and stored until the prices increase before selling. Consumers are expected to pay a higher price for oil and gas in the future due to the rising shortage of oil and gas. This has led to an increase in the need for storage in the oil and gas sector.
According to a senior research analyst at Technavio, “Some of the countries that use the storage services market due to the increasing oil production and declining oil prices are Saudi Arabia, the US, and Russia. During the forecast period, the demand for industrial indoor overhead cranes is expected to increase because of the increasing investments in oil and gas storage as overhead cranes have applications such as transportation and organization of bulky loads.”
Global industrial indoor overhead cranes market: Segmentation analysis
The global industrial indoor overhead cranes market analysis report provides market segmentation by product (double girder cranes and single girder cranes), by application (industrial sector and warehousing and workshop sector), and by region (the Americas, APAC, and EMEA). This market forecast report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the double girder cranes segment held the largest industrial indoor overhead cranes market share in 2017, contributing to almost 70% of the market. This product segment will dominate the global market throughout the forecast period.
APAC held the largest share of the market in 2017, accounting for more than 36% share. It was followed by EMEA and the Americas respectively. APAC is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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INDUSTRY KEYWORD: ENERGY OIL/GAS CONSTRUCTION & PROPERTY OTHER CONSTRUCTION & PROPERTY
SOURCE: Technavio Research
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PUB: 10/08/2018 01:59 PM/DISC: 10/08/2018 01:59 PM