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Prefabricated Buildings Market Upcoming Trends, Growth Drivers and Challenges – Forecast to 20239/23/2020
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The India pre-engineered buildings market is predicted to touch USD 3.56 billion at an 11.63% CAGR over the forecast period (2016-2020), reveals the latest Market Research Future (MRFR) report. Pre-engineered buildings, simply put, are factory-built steel buildings that are shipped to the site and also bolted together. Pre-engineered buildings are ideally suited to warehouses and industrial buildings as the technology is affordable, fast to erect, and can be dismantled and carried to another site.
Various factors are pushing the growth of the India pre-engineered buildings market. These factors, in accordance to the Market Research Future (MRFR) report, include a growing number of infrastructural development projects, huge investments made in the construction sector, burgeoning construction sector, the inflow of foreign investment, and technological advancements. Additional factors pushing the market growth include scope for customization, sustainable, green practices, booming logistics and e-commerce sectors, and low ecological impact. On the contrary, lack of workforce, coupled with project execution criticalities are factors that may impede the India pre-engineered buildings market growth over the forecast period. ALSO READ: https://www.marketwatch.com/press-release/construction-equipment-rental-market-2020-global-size-share-growth-trends-key-players-merger-acquisition-growth-factors-regional-analysis-and-industry-forecast-to-2023-2020-09-04?mod=mw_quote_news Market Segmentation The Market Research Future report offers a wide segmental analysis of the India pre-engineered buildings market based on products, material, and application. Based on material, the India pre-engineered buildings market is segmented into aluminum, steel, and others. Of these, the steel segment is predicted to have the largest share in the market over the forecast period. Steel has a couple of benefits in the construction sector, such as speed of construction, reduced wastage, and high level of quality control. All these factors are likely to drive the demand for steel. Based on products, the India pre-engineered buildings market is segmented into roofs and floors, columns and beams, walls, and others. Of these, the roofs and floors segment is predicted to dominate the market over the forecast period. Pre-fabricated roofs and floors are made off-site through advanced technology and need less time and maintenance. Based on application, the India pre-engineered buildings market is segmented into industrial, commercial, and residential. Of these, the residential segment is predicted to have the maximum share in the market over the forecast period. This is owing to rapid urbanization and increasing population. Regional Analysis The India pre-engineered buildings market is experiencing robust growth owing to the growing popularity of pre-engineered building systems and infrastructure development in the industrial sector. Various sectors, such as capital goods, FMCG, pharma, logistics, power, and automotive, are offering substantial growth opportunities for pre-engineered buildings in India. The major demand for such buildings in India is owing to economic growth, increasing population, and the growing construction industry. The escalated amount of investments made in India has motivated the region’s construction sector. Moreover, the inflow of foreign investment is predicted to augment market demand. Everest Industries, a leading building solutions company in Noida, is instrumental in popularizing the PEB concept in India and has been associated with the construction of various projects such as the Ro-Ro Ferry Terminal in Gujarat as well as the Goa Shipyard. The introduction of pre-engineered buildings has enhanced the country’s construction market. Moreover, the approval of FDIs, coupled with the Make in India campaign that has been initiated by the government of India, has boosted the demand for infrastructure from every sector in the country. Optimal use of PEB in India is seen in sports facilities, warehouses, industrial sheds, and others. Key Players Leading players profiled in the India pre-engineered building market include SML Group (India), Tiger Steel Engineering (India), Smith Structures Private Ltd. (India), Pennar Engineered Building Systems Ltd. (India), LLOYD Insulations Ltd. (India), Multicolor Steels Pvt. Ltd. (India), Everest Industries (India), Jindal Buildsys Ltd. (India), Era Infra Engineering Ltd. (India), Interarch Building Products Pvt. Ltd. (India), and Tata Bluescope Steel Ltd. (India). FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/india-pre-engineered-buildings-market-2565 The call for conventional formworks and props is anticipated to push the market for precast concrete. Reports that judge the construction industry has been offered by Market Research Future, which generates reports on industry verticals that judge the market development and possibilities. A valuation of USD 103,666.1 million is projected to be achieved by the market, with a 5.36% CAGR by 2023.
The amplified building of structures that have recurring designs & elements, like schools and apartments is expected to spur the precast concrete market. Moreover, the inclination towards construction methods that raise the dependence on contemporary construction techniques is expected to bolster the precast concrete market. The preference for cost-efficient, eco-friendly, and fresh building techniques is projected to encourage the precast concrete market globally. ALSO READ: https://www.globenewswire.com/news-release/2019/06/12/1867486/0/en/Precast-Concrete-Market-Global-Industry-Analysis-by-Business-Methodologies-Financial-Overview-and-Growth-Prospects-Predicted-by-2023.html Segmental Analysis The segmental evaluation of the precast concrete market is conducted on the basis of product, end-user, application, and region. Based on the products, the precast concrete market comprises of columns and beams, floors & roofs, stairs and landing, and walls. The walls segment is sub-segmented into sandwich walls (thermal walls) and solid walls. Based on the applications, the precast concrete market is segmented into architectural components, structural components, bridge components, and others. The structural components segment is credited for the principal share of 39.11% in the international precast concrete market. The end-use based segmentation of the precast concrete market comprises of non-residential, residential, and agriculture. On the basis of regions, the precast concrete market is segmented into Asia Pacific, North America, Europe and other regions in the world. Detailed Regional Analysis The regional study of the precast concrete market comprises of Asia Pacific, North America Europe, along with the other regions in the World. The Asia Pacific region controls the precast concrete market with a share of 43.45 % in the year 2017. It was accountable for 448.89 million tonnes in 2017 and is expected to develop at the top CAGR of 5.52 % from 2018 to 2023. The North American region stood in the succeeding position with the subsequent principal market portion, which amounted to 25.09% in 2017. The North American region’s precast concrete market is motivated by more than a few factors like consumer fondness for green buildings and continued investments in commercial real estate. Meanwhile, the precast concrete components are preferred over other building materials because of their toughness and longer lifespan. Competitive Analysis As the companies are making their customers an important focal point for strategy formulation, they are creating a strong competitive advantage in today’s turbulent market. The market competitors are making decisions that are improving business performance and supervise risk. The change in the ways consumers interrelate with market companies is also opening up new business models. The strategic intent in the market of players is enhancing the operations in the market overall. Furthermore, the market leaders are considering streamlining all aspects of operations at a macro and micro level in the global market. The fastest-growing companies are initiating a dramatic growth phase in the market in recent times. The extensive set of capabilities developed by market players is aiding in accelerating and delivering sustainable growth. The high-growth aspirations currently in place are inspiring a profound level of development in the market. Moreover, the companies are also well equipped to effectively implement their growth strategy over the long term. The influential players shaping the precast concrete market globally are Jensen Precast (US), Molin Concrete Products Company, Inc. (US), Tindall Corporation (US), Coltman Precast Concrete Limited (UK), Coreslab Structures (US), CRH(US), HeidelbergCement AG (Germany), Metromont Corporation (US), SMEET (Qatar), Taiheiyo Cement (Tokyo), SKANSKA AB (Sweden), and Larsen & Toubro Limited (India) are among others. FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/precast-concrete-market-4850 The need to ensure clean drinking water to individuals is one of the top issues on the global mandate. The insights into the industry of construction are advanced by Market Research Future, which concentrates on reports on industry verticals that review the market options for growth. The market is expected to observe a superlative expansion in the forthcoming period.
The rise in the spread of water-borne diseases is expected to motivate the demand for water treatment systems market 2020. Moreover, the use of water treatment systems is expected to surge with diversification and expansion of industrial activities. The use of treated waters in photovoltaic power generation facilities is anticipated to motivate the point-of-use water treatment systems market significantly in the coming years. ALSO READ: https://www.marketwatch.com/press-release/pet-lidding-films-market-to-touch-usd-9954-million-at-67-cagr-industry-growth-size-share-trends-competitive-analysis-key-players-and-regional-forecast-to-2025-2020-09-03?mod=mw_quote_news Segmental Analysis The segmental insights into the water treatment systems (point of entry) market are conducted on the basis of application, technology, and region. On the basis of the technology, the water treatment systems market is segmented into reverse osmosis, filtration, sedimentation, water softener, distillation, and others. On the basis of applications, the water treatment systems market is segmented into industrial, commercial, and infrastructure. On the basis of the region, the water treatment systems market is segmented into North America, Europe, APAC, and other global regions. Detailed Regional Analysis The regional examination of the water treatment systems market covers regions such as North America, Europe, APAC and other global regions. As per the report, the APAC region is dominating the Water Treatment Systems market with its swift growing market. Moreover, the APAC region is one of the prime customer bases for water treatment systems, particularly in nations like China and India. The speedy industrialization in the region, combined with the increased occurrence of water-borne diseases, is expected to stimulate the market in the coming period. Competitive Analysis The need to keep the market practices in sync with the environmental concerns that are looming is expected to promote the overall sustainability of the market. The ability to successfully satisfy the demand forces will require the industry to excel in several areas. the variation of the workforce can enable the successful implementation of growth strategies in the market. It is also noted that the cooperation by the governments around the world in terms of relaxation of several barriers and the institution of constructive strategies is expected to put the market on a track for unparalleled development. The upturn in the performance of domestic markets is expected to have a favorable impression on the growth of the market. The limitations in the market are constantly being studied so that breakthroughs to remove them can be undertaken. The notable competitors functioning in the water treatment systems (point of entry) market are Watts Water Technologies, Inc., 3M Company, Honeywell International Inc., Culligan International, Calgon Carbon Corporation, Pentair PLC., Best Water Technology AG, The Dow Chemical Company, and Danaher Corporation. Industry Updates: Jan 2020 DuPont has devised a new type of water treatment plant, in a bid to take in hand the increasing water deficiency in India. This problem is also emphasized by the need of domestic users and industry needing much larger quantities. The treatment plant devised by Dupont, which is almost the size of a heavy hauler truck, can supply to four villages with approximately 60,000 inhabitants. Jan 2020 Shinsan Co., Ltd., a Korean water treatment firm, has declared that it will launch its water treatment system in China, a gigantic market in that field. Its water purification system has combined U/F (Ultra Filtration) systems and R/O (Reverse Osmosis). FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/water-treatment-systems-market-1568 The global plastic decking market 2020 had reached a valuation close to USD 2 Billion in the year 2015 and can cross USD 5 Billion by 2022, estimates Market Research Future (MRFR). MRFR also predicts that the market can clinch a growth rate of roughly 11% by 2022.
ALSO READ: http://www.digitaljournal.com/pr/4501198 Top Growth Boosters and Main Restraints The surface of the plastic decking is designed in such a way that it is viewed as a high-quality wood and no painting is required. Plastic decking is lightweight and does not rot easily, especially compared to traditional wooden decking. In addition, no maintenance costs are incurred after installation and the chances of fading over time are much lower than wooden decking. These factors have nurtured the demand for plastic decking in recent years, inducing massive market growth across the globe. The plastic decking market size is expanding favorably on the back of increasing urbanization, rising industrialization along with the mounting demand for modern constructions. On top of this, technological advancements, evolving lifestyles, replacement of traditional materials used in decking with the modern versions can stimulate the growth of the global plastic decking market in the foreseeable future. Several companies in the market are launching the latest and innovative designs at minimum costs. Case in point, in the year 2017, AZEK building products developed a product called AZEK Deck Designer Tool that assists homeowners and contractors in visualizing their desired deck designs. This next-gen technology allows them to view their design in different high-quality 3D environments and also get a list of needed tools. Market Segmentation MRFR has segmented the global plastic decking market with respect to composite, end-users and material. The composite-based market segmentation includes capped composite decking and uncapped composite decking. The end-users in the worldwide market are residential and non-residential. Residential areas include housing societies and others and the residential segment holds the biggest share of the market. The material-based segmentation comprises low-density polyethylene (LDPE), high-density polyethylene (HDPE), polypropylene (PP), polyvinyl chloride (PVC), and others. Regional Analysis The regional segmentation of the plastic decking market includes North America, Europe, Asia Pacific (APAC), and rest of the world (RoW). North America is the most profitable market for plastic decking on account of the surging demand for low maintenance building products along with the presence of a large number of renowned vendors. The region consists of some of the strongest economies, like the United States of America (USA) and Canada, which are highly lucrative markets for plastic decking. APAC can record the fastest growth rate in the coming years, with maximum market growth expected to be in China and India. The chief reasons for the strong market growth in the region include the expanding population, increasing disposable income and mounting demand for residential buildings. The non-residential buildings are also growing in number in cities, particularly in Japan. The country has a lot of potential and can surge at a rapid pace in the near future. The European market is expanding quite significantly owing to the high population density, and the various business activities. Russia is one of the leading markets for plastic decking in the region, with other important economies in the region being Germany, the United Kingdom (UK) and France. The RoW segment includes nations like the Middle East and Africa (MEA). The MEA market will perform poorly owing to the presence of countries with low economic status, lack of awareness and education, abysmal skilled labor, and low technological advancements. However, the resurgence and of new architectural buildings, primarily in the Arab countries can foster the growth of the plastic decking market in the region during the review timeline. Significant Companies Significant companies with great impact on the growth of the global plastic decking market are UPM Kymmene Corporation (Finland), Cardinal Building Products (USA), Advanced Environmental Recycling Technologies Inc. (USA), Azek Building Products Inc. (USA), CertainTeed Corporation (USA), Fiberon LLC (USA), Universal Forest Products Inc. (USA), TAMKO Building Products Inc. (USA), DuraLife Decking & Railing Systems (USA), Green Bay Decking LLC (USA), to name a few. FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/plastic-decking-market-1872 The global plasterboard market is projected to display a CAGR of 5.5%, holding a substantial value of USD 29.7billion during the assessment period. According to the research conducted by Market Research Future Reports (MRFR), the construction industry is gaining momentum, which is estimated to drive the global plasterboard market 2020. Besides, the growing demand from the end-user sector is another crucial factor leading to market expansion. Further, there are various initiatives taken by the government of various countries to enhance their infrastructure and real-estate sectors which directly augments the market. Moreover, the increasing preference of consumers for dry construction methods over wet construction methods is further likely to augment the market. Besides, the increasing concern towards the protection of the environment is further projected to enhance market strength. Also, the no recycling availability of construction material is anticipated to influence the market considerably during the assessment period.
ALSO READ: https://www.benzinga.com/pressreleases/19/10/ab14600718/drywall-and-gypsum-board-market-2019-latest-trend-size-trending-shares-upcoming-advancement-growt However, the expansion of the market is projected to be hindered by the saturated demands with fewer demands for new construction. On the contrary, the new construction projects in the developing economies are anticipated to offer a conducive environment of growth along with lucrative market opportunities for the global plasterboard industry. Also, the outbreak of COVID-19 is predicted to bring a substantial impression on the market. The data experts at MRFR are evaluating the market. We will provide an impact analysis report on COVID-19. Market Segmentation The worldwide plasterboard market can be segmented on the grounds of end-user industry, form, type, and region. On the basis of end-user industry, the worldwide plasterboard market can be distinguished into residential and non-residential. On the basis of form, the worldwide plasterboard market can be distinguished into square-edged and tapered-edged. On the basis of type, the worldwide plasterboard market can be distinguished into fire-resistant plasterboard, damp-proof plasterboard, impact-resistant plasterboard, moisture-resistant plasterboard, insulated plasterboard, sound-insulated plasterboard, thermal plasterboard, and standard plasterboard. On the basis of region, the worldwide plasterboard market can be distinguished into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). Regional Analysis The global market for plasterboard market is predicted to grow significantly during the assessment period. Regions such as North America, Europe, Asia-Pacific, and the Rest of the World (RoW) have been evaluated thoroughly. As per the study, the worldwide market is speculated to be dominated by North America. North America held the largest market share in 2018. It has been speculated that North America will retain the position till 2025. On the other hand, the APAC region is predicted to magnify at the swiftest speed during the assessment period. The region is witnessing a rise in industrialization, urbanization which is likely to propel the market significantly. Besides, the regional market is strengthening at a fast pace. Further, the presence of developing countries like India and China are projected to play a crucial role in developing the market. However, the market is estimated to show a downfall due to the disruption of COVID-19. Several regions were under the observation of lockdown, which brought an impact on daily operations. The halt caused brought a significant impact on the market, thereby trembling the global market. Key Players The renowned organization of the global plasterboard marker are Etex Group (Belgium), Armstrong World Industries Inc. (US), Saint-Gobain SA (France), USG Corporation (US), Gypsum Management and Supply, Inc. (the US), Georgia Pacific LLC (US), KNAUF Gips KG (Germany), Boral Limited (Australia), Fletcher Building Limited (New Zealand), National Gypsum Company (US), LafargeHolcim Ltd (Switzerland), Associated Tube Group (Canada), Marmon/Keystone Canada Inc. (US), EVRAZ PLC (Russia), Sandvik AB (Sweden), WELDED TUBE OF CANADA CORP. (US), Welded Tubes, Inc. (US), Tenaris SA (US). FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/plasterboard-market-1976 Pervious pavement, also known as, permeable pavement or porous pavement is a paving surface with high porosity that allows stormwater to seep through the surface into the ground. A pervious pavement combines a series of plastic grids with a fill material such as gravel, limestone, or sod to create a durable surface, while being both recyclable and cost efficient. Pervious pavements have various advantages over conventional pavements, enabling higher utilization of the same in modern sustainable construction.
ALSO READ: http://www.digitaljournal.com/pr/3455328 According to the report published by Market Research Future, the pervious pavement market is expected to flourish with a significant CAGR during the forecast timeline. Factors such as easier installation of permeable pavements and higher durability promote notable growth in the pervious pavement market. In addition, higher recyclability, its environment-friendly nature, and government initiatives towards sustainable construction heavily drive the global pervious pavement market. Adversely, high price volatility and a demand supply gap in the raw materials used in a porous pavement are hindering growth within the pervious pavement market. A permeable pavement has high durability and can sustain under heavy weight, while being easy to remove. This enables the use of pervious pavements as temporary roads and prevents soil damage at construction sites occurring because of heavy machinery and vehicles. In addition, use of permeable pavements also reduces the concentration of some pollutants in stormwater, either physically, chemically, or biologically. Segmental Analysis According to the MRFR report, the market has been segmented on the basis of material, design, and region. On the basis of material, the market has been segmented into pervious concrete, porous asphalt, and interlocking concrete pavers. On the basis of design, the pervious pavement market has been segmented into hydrological and structural. Detailed Regional Analysis The pervious pavement market has been regionally segmented into North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). Although Europe is projected to dominate the pervious pavement market, it is estimated to grow at a lower rate than other regional segments due to low construction demands and sub-performing economic conditions. Alternatively, North America is projected to grow at an accelerated rate due to the presence of many manufacturers and a high number of end-use industries. In addition, increasing installations of porous pavements in parking lots and commercial areas with low speed and light traffic loads are driving major growth to the pervious pavement market in North America. The Asia Pacific (APAC) is estimated to originate as a lucrative market for pervious pavements, globally. Owing to the factors of improving economic conditions, rise in rain harvesting projects, flourishing modern construction in the region, growing adoption of sustainable construction, and rapid urbanization, the pervious pavement market is expected to garner substantial growth during the forecast period. Competitive Analysis The global pervious pavement market emerges as highly competitive and diversified due to the presence of many well-established players who boast a regional as well as a global presence. The MRFR report has listed many key players in the pervious pavement market including CEMEX S.A.B. de C.V. (Mexico), LafargeHolcim (Switzerland), CRH plc (Ireland), Sika AG (Switzerland), BASF SE (Germany), Balfour Beatty plc (U.K.), Boral Limited (Australia), UltraTech Cement Limited (India), Chaney Enterprise (U.S.), and Raffin Construction Co. (U.S.). Industry Updates: 21 Feb 2019: Victorian government has handed out grants worth $1.5 million for innovative road surface projects in Australia. Road infrastructure company Downer claims usage of materials such as glass and printer cartridge toner to manufacture asphalt. The company claims to be able to produce an asphalt made from 99% recyclable materials. 1 March 2018: A research team based in Washington State University has published their study of permeable pavements developed using recycled carbon fiber. Use of recyclable carbon fiber in pervious pavements could solve a high-tech waste issue, while addressing the environmental challenge of storm-water runoff. FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/pervious-pavement-market-2421 Automotive Parking Sensors Market Growth Drivers, Opportunities and Forecast Analysis to 20259/22/2020 The global automotive over the air updates market is expected to exhibit a strong 15% CAGR over the forecast period from 2018 to 2025, according to the latest research report from Market Research Future (MRFR). The global automotive over the air updates market is analyzed fully in the report, which takes a look at the comprehensive performance figures of the market over the last few years to present a detailed review of the market’s key drivers, leading players, and dominant segments.
ALSO READ: https://www.marketwatch.com/story/automotive-electronic-control-unit-market-2020-size-trends-investments-share-key-players-merger-acquisition-growth-factors-regional-analysis-and-industry-forecast-to-2023-2020-09-02 The automotive over the air updates market has rapidly risen in stature to become a key component of the global automotive industry over the last few years. The growing use of electronics in vehicles and the growing demand for automated electronic monitoring of the vehicle have led to a growing demand from the global automotive over the air updates market. The growing demand for autonomous and connected vehicles is likely to be a key driver for the global automotive over the air updates market over the forecast period, as autonomous and connected cars rely heavily on their software programming to ensure steady performance and safety of the car’s occupants. On the other hand, the difficulties in building a suitable software architecture for over the air updates in the automotive sector have held the market back. The risk of cybercrimes through automotive software systems is also quite high, which is likely to be a key restraint for the global automotive over the air updates market over the forecast period. Developing secure architecture of automotive over the air updates is likely to be a key avenue for players in the global automotive over the air updates market over the forecast period. Competitive Analysis: Leading players in the global automotive over the air updates market include Infineon Technologies AG, Garmin Ltd., Denso Corporation, Continental AG, Airbiquity Inc., Microsoft Corporation, NVIDIA Corporation, Delphi Automotive, Robert Bosch GmbH, and HARMAN International. In May 2019, General Motors announced that it is working on building a comprehensive software platform for its cars that can be regularly updated over the air. GM’s platform is expected to be incorporated into their automobiles by 2023. Segmentation: The global automotive over the air updates market is segmented on the basis of technology, application, propulsion, vehicle type, and region. On the basis of technology, the global automotive over the air updates market is segmented into firmware over-the-air technology (FOTA) and software over-the-air technology (SOTA). On the basis of application, the global automotive over the air updates market is segmented into electronic control unit (ECU), infotainment, safety & security, telematics control unit (TCU), and others. On the basis of propulsion, the market is segmented into ICE and electric vehicles. The electric vehicles segment is further sub-segmented into battery electric vehicles (BEV), hybrid electric vehicles (HEV), and plug-in hybrid electric vehicles (PHEV). On the basis of vehicle type, the global automotive over the air updates market is segmented into passenger cars and commercial vehicles. Regional Analysis: Asia Pacific is expected to dominate the global automotive over the air updates market over the forecast period due to the growing automotive industry in the region. The growing demand for automotive electronics in the region is also likely to be a key driver for the automotive over the air updates market in the region over the forecast period, as the growing disposable income of consumers in this region has driven the demand for premium facilities in automobiles, including advanced automotive electronics and telematics. Moreover, the increasing demand for electric vehicles in China is also likely to be a major driver for the automotive over the air updates market in Asia Pacific over the forecast period. China has been a leader in developing electric vehicle technology in recent years, leading to growing demand for advanced software support for automotive operations. North America and Europe are also likely to be major players in the global automotive over the air updates market over the forecast period due to the presence of several leading market players in the region. FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/automotive-over-the-air-updates-market-7606 The recent report by Market Research Future (MRFR) asserts that the global overhead cranes market 2020 is slated to acquire a considerable market valuation of USD 3.957 billion by 2025, at a moderate 5% CAGR over the review period.
ALSO READ: https://www.marketwatch.com/press-release/water-and-wastewater-pipe-market-2020-size-share-industry-trends-predictionopportunity-assessment-worldwide-growth-leading-players-industry-analysis-and-regional-forecast-to-2024-2020-07-07 Drivers and Restraints The market for overhead cranes worldwide is mainly driven by an upsurge in investment by governments for the expansion of numerous infrastructure wherein these cranes are reliable and proficient. Moreover, handling heavy loads is a crucial task in different industrial applications. Therefore, multiple forklifts are replaced by overhead cranes to decrease labor cost and human intervention which consequently increases workplace safety. these cranes are flexible to operate in any industrial application. Moreover, automated systems used in the overhead cranes improve work precision, reduces operational time, and reduces product damage. All these influential factors are primarily driving the growth of the overhead cranes market across the globe. On the other hand, the shortage of skilled operators and high lead time in the supply chain are some of the significant factors that are restraining the growth of the overhead cranes market. Market Segmentation The global market for overhead cranes is segmented on the basis of product, and end-users. On the basis of the product, the overhead cranes market is bifurcated Single Girder Overhead Cranes and Double Girder Overhead Cranes. Single girder overhead cranes depployed when hook height is not an issue. Single girder cranes provide the same stability and strength as double girder cranes. They are reasonable as well. Single girder cranes can be rented too, which impedes the growth of this segment. The more significant segment within this market is that of double girder cranes, which offer exceptional hook height and can be used for all undertakings single girder cranes are used for as well. Favored within the mining and aerospace sector and the development of these industries is also driving the growth of the overhead cranes market. The global overhead cranes market is segmented into metal and mining, paper, automotive, utility, aerospace, and others. The automotive industry is rising at a remarkable rate and has a highly automated production procedure. The aerospace industry is growing, and concurrent with that growth is a rising demand for overhead cranes. The utility is a growing segment for the overhead crane market as governments are progressively investing in enhancing efficiency. This creates an increasing demand for overhead cranes within the utility sector, especially the power sector. Regional Overview The geographical overview global market has been conducted in four major regions, that is Europe, North America, the Asia Pacific, and the rest of the world ( comprising Latin America and the Middle East and Africa). More than 20% of the economy of North America relies on manufacturing. North America has some of the world’s most automated industries, and this is growing the overhead crane market within the region. Additionally, North America is home to the largest aviation industry in the world, which has a massive demand for overhead cranes, further driving the growth of this market. Europe has the world’s second-largest industrial output and an exceedingly automated manufacturing industry. This aids in expanding the overhead crane market within the region, particularly in Germany and the UK. Asia-Pacific is the largest and fastest-growing regional market for the global overhead cranes market. Asia-Pacific is correspondingly the largest producer of goods worldwide owing to manufacturing giants such as Japan, China, and South Korea. India’s rapidly improving manufacturing industry is slated to become one of the most lucrative, which is attracting FDI. These factors are driving the overhead crane market in the region. Competitive Landscape The top market players identified by MRFR in the global market are Columbus McKinnon Corporation (US),Sumitomo Heavy Industries Material Handling Systems Co., Ltd (Japan), Weihua Group (China), ABUS Kransysteme GmbH (Germany), EMH, Inc (US), Ergonomic Partners (US), Eilbeck Cranes (Australia), Terex Cranes (US), Konecranes Plc (Finland), Cargotec (Finland), among others. FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/overhead-cranes-market-8265 |