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Market Size
- Report ID: GMI4665
- Published Date: Dec 2022
- Report Format: PDF
Crane AfterMarket Size
Crane Aftermarket size exceeded USD 7 billion in 2022 and is projected to expand at over 6% CAGR from 2023 to 2032. Rapid urbanization and a rising focus on infrastructure development will complement the business trends.
Over the last decade, there has been a dynamic surge in investments in urban development projects from private as well as public organizations. Governments across the globe are prioritizing the development of urban infrastructure projects including commercial spaces such as airports and malls for economic growth. This is accelerating the need for cranes and crane spare parts.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Crane Aftermarket Size in 2022: | 7 Billion (USD) |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 6% |
| 2032 Value Projection: | 15 Billion (USD) |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 250 |
| Tables, Charts & Figures: | 998 |
| Segments covered: | Type, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Fierce competition between OEMs and local vendors is expected to introduce new challenges for industry players. A solid footprint of several local manufacturers that are producing and supplying replacement spare parts & accessories at an affordable rate would raise business competition. Crane spare parts produced by OEMs are typically more expensive with longer delivery times, which is not the case with local providers. The increasing popularity of local vendors and the growing number of local businesses could slightly impact crane aftermarket trends.
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Crane Aftermarket Scope
