The rough-terrain (RT) crane market will see nearly a 4% increase in sales by the end of this year, according to a post at oilandgas360.com. Over 4,700 units are expected to be sold, including revenue of nearly $2.4 billion in the United States alone. The oil and gas industry will account for about a third of this growth.
Various factors have contributed to the increase including consistent generation of construction projects, new opportunities for rough-terrain rental providers, and increased demand from governmental projects. Examples are capacity expansion in the utilities sector and development of various infrastructure projects. Additionally, the renewable energy market has provided an increased demand for RT cranes in the construction of wind farms.
Lower lifting capacity cranes (less than 35 tonnes – 77,161 lbs.) continue to account for most of the RT crane units sold; however, higher lifting capacity cranes (35 to 50 tonnes – 77,161 to 110,230 lbs.) generated nearly $100 million more in sales revenue versus their lower capacity counterparts in 2018.
Another note of interest is that crane manufacturers in Japan will hold nearly a third of the RT crane market share this year. Companies include Tadano and Kobelco.
Crane rental companies continue to see increased business as end users show a preference of renting versus purchasing RT cranes. This is primarily due to the cost of owning and maintaining an RT crane.
Read the whole story at oilandgas360.com by clicking here.