Rough Terrain Crane Market

Rough terrain cranes are mobile cranes used to lift or move heavy material from one place to another on paved or rough or uneven ground. Rough terrain cranes are built on body which has four rubber tires and is capable to climb over uneven ground or surface such as mountainous, marshy, or flat surface, and is able to maintain its grip even on any rugged or difficult terrain. These cranes find their applications for maintenance in mining and petrochemical industries for material handling and lifting materials. These are extensively used by many industries due to the off-road, powerful, and robust capabilities. These are used across various industrial sectors such as civil, construction, maritime, petrochemical, commercial, and renewable energy.

COVID-19 Impact Analysis

• COVID-19 pandemic has shut down the production of rough terrain cranes attributed to the lockdown in countries worldwide this has hampered the growth of rough terrain cranes from the last few months and is likely to grow in 2021.
• COVID -19 has already affected the sales of rough terrain cranes in the second and third quarter of 2020 and is anticipated to grow in year 2021.
• The major demand for rough terrain cranes was previously noticed from countries including the U.S., Germany, UK, and China which are negatively affected by the spread of the coronavirus thereby declining the demand for rough terrain cranes.
• Further potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves rough terrain cranes manufacturers can afford a full lockdown only for a few months after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce the expenses. Whereas few players also adopted employee lay-offs to sustain during the COVID -19 health crisis.
• Rough terrain cranes manufacturers are expected to focus on protecting their workforce operations and supply chains to respond to ward immediate crisis and find new ways of working after COVID -19 for instance provision of sanitizers maintaining social distancing as well as ensuring the vaccination of every employee in the company can assist in promoting the health and safety of the workforce.

Top Impacting Factors

The rough terrain crane is extensively used in the constructional sector. There is an increase in the demand for homes and residential complexes owing to the rise in population across the globe and the shift of rural populations to urban areas. The market for rough terrain crane is anticipated to experience growth due to increase in construction activities in countries such as China, Japan, India, and Indonesia.

Also, there is an increase in the number of applications of rough terrain crane across the world, due to industrialization, and rapid development of infrastructure, and renovation, and upgradation of existing infrastructure, and increase in investments in power transmission and distribution (T&D) networks, which in turn drives the growth of the rough terrain crane market.

Emerging economies in the Asia-Pacific region have registered a growth in infrastructural projects. For example, in India, the introduction of schemes such as Pradhan Mantri Awas Yojana (PMAY), and Pradhan Mantri Gramin Awas Yojana and the development of smart cities has led to increase in construction activities, hence uplifting the growth of the rotary laser level market.

New Product Launches

• In 2020, Tadano, one of the leading players in the market, launched three rough terrain cranes.
• In June 2018, Manitowoc Company, one of the leading players in the market, announced a new line of rough terrain crane- Grove GRT9165.
• In July 2018, TNT Cranes & Rigging, Inc. merged with Allison Crane & Rigging to strengthen market position.

Key Benefits of the Report

• This study presents the analytical depiction of the rough terrain cranes along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the rough terrain cranes market share.
• The current market is quantitatively analyzed to highlight the rough terrain cranes market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed rough terrain cranes market analysis based on competitive intensity and how the competition will take shape in coming years

 Rough Terrain Crane Market Report Highlights