CHICAGO, Sept. 28, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this France crane market report.
The France crane market is expected to grow at a CAGR of over 3.67% during the period 2021−2027.
Key Highlights Offered in the Report:
The crane market in France is expected to reach revenues of USD 1.5 billion by 2027.
The French economy witnessed a contraction of 4.4% in GDP in 2020. However, the French government's recovery plan, France Relance, and other infrastructure projects such as The Grand Paris Express will raise construction activity and will further boost the crane market.
Foreign direct investment into France declined by 39% in 2020 due to the outbreak of the COVID-19 pandemic. Also in April 2020, the Eurozone construction production declined by over 30% compared to January 2020.
With a population of over 67 million people and direct access to more than 500 million consumers in the European Market, France is Europe's 2nd largest economy. In ease of doing business, France ranked 32nd of 190 countries.
The Grand Paris Project, the 2024 Olympic Games and increasing focus on wind power projects are likely to drive the crane market in the forecast period.
Availability of a wide range of technologically advanced cranes, increased automated safety features and other advanced technologies such as SMARTCrane and Remote Monitoring provides significant growth opportunities for OEMs in the market.
The market is highly competitive characterized by the presence of several OEMs including Tadano, Manitex International, Manitowoc, SANY Group, Kobelco Construction Machinery Europe B.V, Konecranes, Liebherr Group, Terex Corporation, Cargotec, XCMG Group and others.
The France crane market is expected to grow significantly at a CAGR of 3.67% during the forecast period with high demand in 101-200 tons lifting capacity segment.
Market Size & Forecast by Volume | 2021−2027
Market Size & Forecast by Revenue | 2021−2027
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by crane type, application, and gross power output
Competitive Landscape – 10 key vendors and 5 other vendors
Mobile crane accounts for 30.7% of the overall crane market in 2020. The demand for mobile cranes is largely driven to address high-end works for urban and infrastructure development. Their ability to navigate around job sites and carry heavy weight makes mobile cranes a very popular addition to many projects.
The port of Le Havre, France's leading container port, already has over 200 hectares of logistics parks and 435,000 square meters of warehouse space, and it is expanding its foreign trade (import/export) area. About four of the world's largest gantry cranes recently arrived at the Port du Havre, France as part of the ongoing efforts design to expand the capabilities of France's leading container port for foreign trade to accommodate the world's largest container ships.
The <20 tons crane-lifting capacity market in France is expected to reach 787 units by 2027, growing at a CAGR of 3.61% during the forecast period. This category of cranes is largely used for landscaping, excavating, demolishing, disaster management, and material handling in cities and farms. Therefore, construction projects will drive up the demand for these cranes.
France Crane Market by Crane Type
Rough Terrain Cranes
Truck Mounted Cranes
France Crane Market by Application
France Crane Market by Gross Power
Less than 20 HP
Greater than 200 HP
France Crane Market – Dynamics
According to the pre-COVID-19 scenario, improving infrastructure was a top priority for governments of European countries. This has been one of the most important factors in the expansion of the crane market. In recent years, infrastructure development has progressed at several levels. Long term infrastructure plans were prioritized by the French government. During the forecast period, increased private and government investments in new development and construction projects will provide improved infrastructural facilities that are expected to boost the growth of the crane market. The expanding global population and the requirement for new residential and commercial constructions to meet the population demand contribute to the potential of the crane market. The rapid growth of the construction and infrastructure sector as a result of numerous renovations, the need for improved structures across industry verticals such as manufacturing, oil and gas, and telecommunication.
Key Drivers and Trends fueling Market Growth:
The grand Paris project, a 20-year endeavor driving crane sales
The wind power industry in France is expected to play a key role in crane sales
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