India tower crane market forecast & opportunities, 2024 - TechSci Research

2014-2024 INDIA TOWER CRANE MARKET COMPETITION, FORECAST & OPPORTUNITIES

PUBLISHED : MARKET

AUGUST

2019

INTELLIGENCE

.

CONSULTING

Table of Contents Contents

S. No. 1.

Product Overview

2.

Research Methodology

3.

Executive Summary

4.

Voice of Customer

5.

4.1.

Factors Influencing Purchase Decision

4.2.

Aided/Unaided Brand Recall

4.3.

Usage Analysis

4.4.

Challenges/Issues Faced Post Purchase

4.5.

Unmet Needs at the Time of Purchase

India Tower Crane Market Outlook 5.1.

Market Size & Forecast 5.1.1.

5.2.

5.3. 6.

By Value & Volume

Market Share & Forecast 5.2.1.

By Product Type (Flat Top, Hammerhead, Luffing Jib, Self-Erecting)

5.2.2.

By Design (Top Slew ing Crane, Bottom Slew ing Crane)

5.2.3.

By Lifting Capacity (Below 5T, 6 to 20T, 21 to 50T, Above 50T)

5.2.4.

By Application (Construction, Mining, Shipyards, Utility, Others)

5.2.5.

By Region (North; West; South; East)

5.2.6.

By Company Share (2014 to 2018 & 2024)

Market Attractiveness Index

India Flat Top Tower Crane Market Outlook 6.1.

Market Size & Forecast 6.1.1.

By Value & Volume ÂŠ TechSci Research

2

Table of Contents Contents

S. No. 6.2.

7.

Market Share & Forecast 6.2.1.

By Design

6.2.2.

By Lifting Capacity

6.2.3.

By Application

India Hammerhead Tower Crane Market Outlook 7.1.

Market Size & Forecast 7.1.1.

7.2.

8.

Market Share & Forecast 7.2.1.

By Design

7.2.2.

By Lifting Capacity

7.2.3.

By Application

India Luffing Jib Tower Crane Market Outlook 8.1.

Market Size & Forecast 8.1.1.

8.2.

9.

By Value & Volume

Market Share & Forecast 8.2.1.

By Design

8.2.2.

By Lifting Capacity

8.2.3.

By Application

India Self-Erecting Tower Crane Market Outlook 9.1.

Market Size & Forecast 9.1.1.

9.2.

By Value & Volume

Market Share & Forecast ÂŠ TechSci Research

3

Table of Contents Contents

S. No.

10.

9.2.1.

By Design

9.2.2.

By Lifting Capacity

9.2.3.

By Application

Page No.

Market Dynamics 10.1.

Drivers

10.2.

Challenges

11.

Market Trends And Developments

12.

Policy And Regulatory Landscape

13.

India Economic Profile

14.

Competitive Landscape 14.1.

Manitowoc Cranes

14.2.

Action Construction Equipment Limited (ACE)

14.3.

Zoomlion India Private Limited

14.4.

Liebherr India Private Limited

14.5.

Sany Heavy Industries India Pvt Ltd.

14.6.

Kroll Cranes

14.7.

Everest Cranes

14.8.

Mechatro Cranes

15.

Strategic Recommendations

16.

About Us & Disclaimer

ÂŠ TechSci Research

4

Product Overview

Product Definition Tower Crane: A fixed crane which is to be mounted on site and looks like a metallic structure with one horizontal arm that can turn up to 360 degree.

Product Type Flat Top Tower Crane: A crane having compact head and movable cab and is best suited tower crane for congested work sites as it doesnâ&#x20AC;&#x2122;t have the apex on the crane. Jib of this type of crane is pre-assembled or can be installed directly. Hammerhead Tower Crane: Hammerhead cranes are reliable for precise, accurate handling of a wide variety of heavy materials. The way hammerhead crane can be used for work in any site and for transporting volume of material, makes it versatile. Luffing Jib Tower Crane: Luffing jib cranes can be placed on fixing angles or ballast bases and can be erected and climbed to greater heights.

Self Erecting Tower Crane: A crane that can be easily inserted on a site with restricted space in a short period of time. This crane is ideally suited for light frame structure. A self erecting tower crane is normally operated using a crane remote control, though in some cases an operator cab may be fitted to the tower section.

ÂŠ TechSci Research

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Research Methodology Market Profiling •In-depth secondary research was used to determine top players in the India tower crane market, overall market size and segmental market size.

Data Collection

Research & Intelligence

Data Filter & Analysis

Actionable Insights

Business Solution

Formulating Questionnaire •In order to conduct industry experts interviews, TechSci formulated a detailed questionnaire.

Developing List of Respondents •List of industry players and industry specialists was developed.

❑

Identifying Key Opinion Leaders

❑ ❑

Questionnaire Design In-depth Interviews

A Primary Research

B Desk Research

Data Collection •TechSci conducted interviews with industry experts, industry players, for data collection and verification.

C

❑

Market Participants

❑

Key Strengths

❑

Recent Developments

❑

Market Changing Aspects/Dynamics Government Policies

❑ ❑

Company Analysis

Final Conclusion

Data Validation

•Data obtained as a result of primary and secondary research was validated through rigorous triangulation. Data Analysis •The data was scrutinized using MS-Excel and statistical tools such as Time Series Analysis, etc., to obtain qualitative and quantitative insights about the India tower crane market.

Primary Research ❑ ❑

LinkedIn TechSci Internal database

Secondary Research ❑ ❑ ❑ ❑ ❑ ❑

Company Websites Company Annual Reports White Paper Study Financial Reports Investor Presentations Regulatory Body, Associations, etc.

Paid Sources ❑ ❑

Factiva Hoovers

6

Research Methodology

Baseline Methodology:

For the study, TechSci Research has gathered information through primary research surveys with leading tower crane companies operating in India. We also put through an exhaustive search of credible paid databases, such as Businessweek, Factiva, Hoovers, etc., including our internal database. Our team of analysts has then prudently evaluated all the collected information and presented the same in chronological order to depict a meaningful and clear picture of India tower crane market. While compiling the data, we have also cross checked all the collected information from multiple sources and data warehouses, so as to present the most accurate and precise information of the concerned industry.

Market Size Calculation Technique: Primary Research For the preparation of India tower crane market report, bottom-up model has been used, which has been later cross validated by using top-down approach. TechSci interviewed senior managers and regional managers of prominent tower crane companies using Delphi technique for calculating the size of India tower crane market. Respondents were also asked about the current and future growth rates, market share by product type, by design, etc. All the information gathered was carefully analyzed. Data points which exhibited high deviations from the majority estimates were eliminated as outliers and the remaining refined data points were put together to arrive at the volume data.

ÂŠ TechSci Research

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Primary Research – Few of the Companies Interviewed S. No.

Company Names

1.

Manitowoc

2.

ACE

3.

Zoomlion

4.

Liebherr

S. No.

Company Names

5.

Everest

6.

Mechantro Cranes

7.

SANY Group

Secondary Research: We have also put through an exhaustive search of credible paid databases, such as Factiva, Hoovers, etc., in addition to our internal database. Further analysis of credible publications, white papers, companies’ annual reports, investor presentations, news articles, etc., was done to cross validate the end findings derived from primary research. Forecasting Technique: The team has done forecasting on the basis of econometric and judgemental analysis in addition to statistical techniques, such as averaging, and geometric mean. During primary interviews, questions regarding historical trends of tower crane market during the last five years were put forward. Respondents were asked about the current and future growth rates, market share by product type, in India. In order to forecast India tower crane market, following forecast techniques have been used:

•

Time Series Analysis

•

Econometric and Judgmental Analysis

•

Moving Average © TechSci Research

8

INDUSTRY BRIEF

According to TechSci Research report, “India Tower Crane Market By Product Type, By Design, By Lifting Capacity, By Application, Competition, Forecast & Opportunities, 2024”, India tower crane market is anticipated to grow at a CAGR of around 16% during the forecast period, owing to technological advancements, development in infrastructure, and rising number of construction projects, which are to be completed in short span of time. Moreover, increasing disposable income, demand for high rise buildings and several public projects, are further anticipated to boost India tower crane market during the forecast period.

India tower crane market can be segmented based on product type, by design, by lifting capacity, by application, by region and by company. In terms of product type, flat top tower is leading the market as it is convenient to use during construction of high rise buildings. Among designs, top sewling dominates the market, as major tower cranes fall in this category. Tower cranes are majorly used for construction purposes, this is the reason construction application segment holds the largest share in India tower crane segment. Manitowoc Cranes, Action Construction Equipment Limited (ACE), Zoomlion India Private Limited, Liebherr India Private Limited, and Sany Heavy Industries India Pvt Ltd.are some of

the leading players operating in India tower crane market.

“Western region of India dominates India tower crane market backed by the presence of leading players and early adoption of advanced technologies in the region. The demand for tower crane is anticipated to increase in western region in the coming years, on account of growing demand for high rise buildings, lot of corporate offices, several public private partnership projects and increasing scope of high infrastructure

projects in this part of India.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

9

S A M P L E D ATA - S N A P S H O T India Tower Crane Market Size, By Value (USD Million) & By Volume (Unit),2014-2024F

2014

CAGR 2014-2018

CAGR 2019E-2024F

By Value: xx% By Volume:xx%

By Value: xx% By Volume: xx%

2015

2016

2017

2018

2019E

2020F

2021F

2022F

2023F

2024F

India Self Erecting Tower Crane Market Share, By Lifting Capacity, By Volume, 2014-2024F

2014

2015

2016

2017

2018

2019E

2020F

2021F

2022F

2023F

2024F

Upto 6 t

10.00%

7 t- 20 t

20.00%

21 t- 50 t

30.00%

Above 50 t 40.00%

40.00%

India Luffing Jig Tower Crane Market Share, By Application, By Volume, 2014-2024F

Construction

2014

2015

2016

2017

2018

2019E

2020F

2021F

2022F

2023F

2024F

5.00%

Utility

10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00% 10.00%

Mining

15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00% 15.00%

Shipyards

20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00% 20.00%

Others

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REPORT ORDERING

Report Name: INDIA TOWER CRANE MARKET COMPETITION, FORECAST & OPPORTUNITIES 2014-2024

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About Us & Disclaimer About Us: TechSci Research is a global market research and consulting company with offices in US, India and the UK. TechSci Research provides market research reports in a number of areas to organizations. The company uses innovative business models that focus on improved productivity, while ensuring creation of high-quality reports. The proprietary forecasting models use various analyses of both industry-specific and macroeconomic variables on a state-by-state basis to produce a unique ‘bottom-up’ model of a country, regional and global industry prospects. Combined with the detailed analysis of company activity and industry trends, the result is a uniquely rich evaluation of the opportunities available in the market.

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Disclaimer: The contents of this report are based on information generally available to the public from sources believed to be reliable. No representation is made that it is timely, accurate or complete. TechSci Research has taken due care and caution in compilation of data as this has been obtained from various sources including which it considers reliable and first hand. However, TechSci Research does not guarantee the accuracy, adequacy or completeness of any information and it is not responsible for any errors or omissions or for the results obtained from the use of such information and especially states that it has no financial liability whatsoever to the subscribers / users of this report. The information herein, together with all estimates and forecasts, can change without notice. All the figures provided in this document are indicative of relative market size and are strictly for client’s internal consumption. Usage of the same for purpose other than internal will require prior approval of TechSci Research.

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