Wednesday, February 27, 2013

The global cranes, lifting and handling equipment market valued US$109.5 billion in 2011

The global cranes, lifting and handling equipment market valued US$109.5 billion in 2011, of which the Asia-Pacific region constituted a 44.4% share, making it the largest regional market for cranes, lifting and handling equipment in the world. In the same year, Europe and North America were the second and third-largest regional markets, with 37.7% and 10.1% shares respectively. The continuing economic uncertainty in Europe and sluggish growth in the US are expected to reduce the market shares of these western regions. Growing economies such as China and India in particular are also expected to reduce the market shares of western regions, as rapid development of infrastructural, industrial, residential and commercial sectors in these regions are expected to increase the demand for construction equipment. The market shares of the European and North American regions are expected to be 32.6% and 8.5% respectively in 2016, a decline from shares in 2011, while the Asia-Pacific region is forecast to increase its share to 50.9% in the same year.

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