Aug 18, 2023

Crane Rail Global Market Report 2023

Major players in the crane rail market are EVRAZ plc, ArcelorMittal S.A., Atlantic Track & Turnout Co., Steel Authority of India Limited, L.B. Foster, Nippon Steel & Sumitomo Metal Corporation (NSSMC), British Steel Corporation PLC, Harmer Steel Ltd.

New York, Aug. 02, 2023 (GLOBE NEWSWIRE) -- announces the release of the report "Crane Rail Global Market Report 2023" - , Jindal Steel & Power Ltd., Gantrex India Crane Rails Private Limited, Metinvest Holding LLC, Bemo Rail BV, Gantrail, North American Rail Products Inc., and Özkan Steel.The global crane rail market is expected to grow from $46.38 billion in 2022 to $50.90 billion in 2023 at a compound annual growth rate (CAGR) of 9.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The crane rail market is expected to reach $70.54 billion in 2027 at a CAGR of 8.5%.The crane rail market consists of sales of light crane rails, heavy crane rails, and specialized crane rails.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.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.Asia-Pacific was the largest region in the crane rail market in 2022.Asia-Pacific is expected to be the fastest-growing region in the forecast period.The regions covered in crane rail report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main products of crane rail are gantry cranes, overhead cranes, AS/RS systems, portal cranes, stacker or reclaimer cranes, stadium roofs, and rail-mounted tower cranes.Gantry cranes refer to large, powerful cranes designed with a large steel frame, or gantry, which spans an area and provides stability for the crane, which is used in industrial and shipping settings to lift and move heavy loads.They are made of steel, aluminum, and others with carrying capacities of below 70 kg/m rail, 70 to 90 kg/m rail, 90 to 120 kg/m rail, and above 120 kg/m rail weight, used for the industrial sector, marine sector, logistic sector, mining sector, and others.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.Technological innovations are a key trend gaining popularity in the crane rail market.Companies operating in the crane rail market are developing innovative products with advanced technologies to sustain their position in the market.For instance, in September 2022, Hiab, a Sweden-based machinery manufacturing and load-handling solution manufacturer, launched an advanced HIAB railway border crane range having a SPACEevo control system.This new rail series help to comply with complex railway regulations and changing requirements by offering a broad range of equipment to maintain the infrastructure.These crane rail series have a SPACEevo control system, which enables rapid movements with precision and safety in delicate operations. The SPACEevo control system for the cranes combines the highest level of safety with accurate and quick movements.In March 2020, Quattro Group Limited, a UK-based business and knowledge processing services provider acquired Road Rail Cranes Ltd for an undisclosed amount.This acquisition broadens, diversifies, and enriches Quattro’s product portfolio by adding new cranes to the rail fleet, expanding its customer base, and delivering tailored and innovative solutions.Road Rail Cranes Ltd. is a UK-based alternative and lifting solution provider company operating in the crane rail market.The countries covered in the crane rail market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The crane rail market research report is one of a series of new reports that provides crane rail market statistics, including the crane rail industry global market size, regional shares, competitors with a crane rail market share, detailed crane rail market segments, market trends, and opportunities, and any further data you may need to thrive in the crane rail industry. This crane rail market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.Read the full report: ReportlinkerReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.__________________________