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.
To Know More - Global Cranes, Lifting and Handling Equipment - Market Opportunity and Environment, Analyses and Forecasts to 2016
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