Overview and Scope
A crane rail is a crane system of high-strength steel specifically built for use in projects for bridge building, regular maintenance, and tunneling. It is commonly employed in commercial and construction settings where big objects must be lifted and moved.
Sizing and Forecast
The crane rail market size has grown strongly in recent years. It will grow from $50.9 billion in 2023 to $55.68 billion in 2024 at a compound annual growth rate (CAGR) of 9.4%. The growth in the historic period can be attributed to increased marketing and advertising, aging population, consumer awareness, minimally invasive procedures, fda approvals..
The crane rail market size is expected to see strong growth in the next few years. It will grow to $76.75 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to advancements in energy sources, rising beauty consciousness, expanding middle-class population, demand for non-invasive procedures, regulatory support.. Major trends in the forecast period include technological advancements, combination therapies, personalization and customization, sustainability and eco-friendly practices, integration of artificial intelligence (ai)..
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Segmentation & Regional Insights
The crane rail market covered in this report is segmented –
1) By Product: Gantry Cranes, Overhead Cranes, As/Rs Systems, Portal Cranes, Stacker Or Reclaimer Cranes, Stadium Roofs, Rail-Mounted Tower Cranes
2) By Material: Steel, Aluminum, Other Materials
3) By Weight Carrying Capacity: Below 70 Kg/M Rail, 70 To 90 Kg/M Rail, 90 To 120 Kg/M Rail, Above 120 Kg/M Rail
4) By Application: Industrial Sector, Marine Sector, Logistic Sector, Mining Sector, Other Applications
Asia-Pacific was the largest region in the crane rail market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global crane rail market during the forecast period. The regions covered in the crane rail market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The surge in manufacturing operations worldwide is expected to propel the growth of the crane rail market going forward. The rise in manufacturing operations worldwide refers to a significant increase in manufacturing activities in terms of the production of goods, expansion of manufacturing facilities, and investment in new manufacturing technologies across the globe. Crane rails help move heavy loads and equipment around manufacturing facilities, increasing manufacturing operations’ productivity. For instance, in August 2022, EUROSTAT, a Luxembourg-based statistical office of the European Union, in 2021, the production of manufactured goods in the European Union rose by 8% compared to 2020. Additionally, the value of EU production sold rose to €5,209 compared to €4,581 in 2020, and there is a growth of 14% in the value of traded goods. Therefore, the surge in manufacturing operations worldwide is driving the growth of the crane rail market.
Key Industry Players
Major companies operating in the crane rail market report are EVRAZ plc, ArcelorMittal S.A., Atlantic Track & Turnout Co. Inc., Steel Authority of India Limited, L.B. Foster Company, Nippon Steel & Sumitomo Metal Corporation, British Steel Corporation plc, Harmer Steel Ltd., Jindal Steel & Power Ltd., Gantrex India Crane Rails Private Limited, Metinvest Holding Company LLC, Bemo Rail BV, Gantrail Group, North American Rail Products Inc., Özkan Steel A.Ş., China Baowu Steel Group Co. Ltd., HBIS Group Co. Ltd., POSCO, JFE Holdings Inc., Tata Steel Limited, Nucor Corporation, Hyundai Steel Company, Voestalpine AG, SSAB AB, Gerdau S.A., VAE Metall GmbH, Steel Dynamics Inc., Maanshan Iron and Steel Company Limited, Celsa Group, Hebei Iron and Steel Group Co. Ltd.
The crane rail market report table of contents includes:
1. Executive Summary
- Crane Rail Market Characteristics
- Crane Rail Market Trends And Strategies
- Crane Rail Market – Macro Economic Scenario
- Global Crane Rail Market Size and Growth
.
- Global Crane Rail Market Competitive Benchmarking
- Global Crane Rail Market Competitive Dashboard
- Key Mergers And Acquisitions In The Crane Rail Market
- Crane Rail Market Future Outlook and Potential Analysis
- Appendix
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