CHICAGO, Sept. 27, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this Japan crane market report.
The Japan crane market is expected to grow at a CAGR of over 3.35% during the period 2021-2026.
Key Highlights Offered in the Report:
The crane market in Japan is expected to reach revenues of USD 20.4 billion by 2027.
- Japan is the third-largest economy in the world. In 2020, the Japanese economy shrank by 4.8% due to disruption in the supply chain. Japanese export was negatively impacted and fell by 19.2% in July 2020. However, export has shown growth in Q1 of 2021 due to the recovery of China and US markets, which are the crucial trade partners of Japan.
- To mitigate the negative impact on the economy, the Japanese government has planned to invest USD 708 billion in green and digital technology. The economic package is expected to maintain employment, support business, and drive economic recovery.
- FDI inflow remains low as compared to other developed economies in 2020. However, the Japanese government offers several nations, local tax incentives for attracting FDI with the US and France being major investors in Japan. The manufacturing and service industries are the main sectors to attract FDI.
- The government is investing in various infrastructure and renewable energy projects such as the Linear Motor Car project, Redevelopment of Shibuya, and Gotoh Nagasaki Wind power Generation projects are expected to drive the demand for cranes in Japan
- Japan is the leading exporter of construction equipment in the world. Japanese manufacturers have a strong dealer network across the globe. Japan's crane export rose by 11.8% in 2019. The demand for cranes and construction equipment is expected to increase due to the rise in infrastructure development projects across the globe.
- Japan is facing a drop in the working-age population. Therefore, the demand for automation technologies such as remote control and smart crane technology are on the rise
- Tadano, Kobelco, Konecranes, Liebherr, Terex corporation, Manitex International, Manitowoc, Sany, XCMG and others are the major vendors of the crane in the Japanese market.
Key Offerings:
- Market Size & Forecast by Volumes | 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
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Japan Crane Market - Segmentation
- The mobile crane market in Japan is expected to reach 5,991 units by 2027, growing at a CAGR of 3.41%. The demand for mobile cranes is largely driven to address high-end urban and infrastructure development. In addition, there is a lot of construction activities in many small and big towns around Tokyo, which support the market. Purchases by rental companies also contributed to the market expansion.
- The crane market by construction accounted for 48.5% of the overall crane market in 2020. Civil engineering activities in the country are growing due to government active investments. Local government investment spending, private investment, and ongoing infrastructure projects all boost activities (redevelopment of Shibuya, Redevelopment of Taranomon, New Shinagawa Station etc.).
- The 20 tons-100 tons lifting capacity crane market in Japan is expected to reach 4,295 units by 2027, growing at a CAGR of 3.34%. This category of cranes is widely used in construction of commercial building, bridges and maintenance. Japan government planned to invest in development of infrastructure projects and zero carbon building projects to achieve the goal of carbon neutral by 2050.
Japan Crane Market by Crane Type
- Mobile Crane
- Crawler Cranes
- Rough Terrain Cranes
- All-Terrain Cranes
- Truck Mounted Cranes
- Others
- Fixed Cranes
- Overhead Cranes
- Tower Cranes
Japan Crane Market by Application
- Construction
- Mining
- Transport/Port
- Manufacturing
- Others
Japan Crane Market by Gross Power
- Less than 20 Tons
- 20-100 Tons
- 101-200 Tons
- Greater than 200 Tons
Japan Crane Market - Dynamics
In recent years, the volume of construction and infrastructure projects in Japan has been increasing. As Japan is recovering from the pandemic, construction, and infrastructure projects are expected to re-commence. The demand for new buildings and infrastructure in the Tokyo area is rising and the government plans to redevelop the Kansai and Kinki areas in Western Japan. Due to preparation for the Osaka Expo in 2025, the demand for infrastructure development is expected to grow. The Japanese government recently updated its public projects for the rehabilitation of various infrastructural developments under the Basic Plan of National resilience. The government attracts private sector partners who can provide financing for infrastructure investment, management skills, and expertise to address the challenges of natural disasters.
Key Drivers and Trends fueling Market Growth:
- Rising investments in infrastructure and renewable energy sources.
- Increased construction equipment demand
- Rise in investment in healthcare and disaster management projects
- High demand for the latest technology in the construction industry
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Why Should You Buy This Research?
This report is among the few in the market that offers outlook and opportunity analysis forecast in terms of:
- Volume (Unit sales)
- Crane Type
- Application
- Gross Power
- Value (USD)
- Crane Type
- Application
- Gross Power
- Gain competitive intelligence about the economic scenario, advantages in Japan major projects and investments, dynamics, and market share
- Examples of latest technologies
- Get presentation-ready format and easy-to-interpret data
- Enable decision-makers to make informed and profitable choices
- Gain expert quantitative and qualitative analysis on value/volume growth projections of the Japan crane market share
- Complete supply chain analysis
- Get COVID-19 impact analysis of the market
Major Vendors
- Tadano
- Manitex International, Inc.
- Manitowoc
- SANY
- Kobelco Construction Machinery (Japan)
- Konecranes
- Liebherr
- Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
- Terex Corporation
- Cargotec
Other Prominent vendors
- American Crane & Equipment Corp. (ACE)
- Zoomlion Heavy Industry
- Broderson Manufacturing Corp
- Link-Belt Cranes
- Kato Works
Explore our industrial machinery profile to know more about the industry.
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