The crane aftermarket in MEA has witnessed considerable growth due to the increasing use of cranes to facilitate construction activities in both the hospitality and real estate sectors.
The wide adoption of cranes in the manufacturing and industrial sectors has supported developments in crane aftermarket over the past several years. The increasing use of gantry and monorail cranes in heavy material handling and factory applications has furthermore supported the demand for the equipment.
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Europe crane aftermarket has emerged as a profitable revenue terrain due to the increase in construction of residential buildings in countries like the Netherlands and Germany. The improved economic conditions in those regions along with the constant demand for advanced residential solutions had amplified the demand for cranes in recent times. The crane rental service providers in Europe are focusing on regularly maintaining the quality and the performance of the equipment.
The recent coronavirus outbreak has adversely affected the crane aftermarket. With the governments across the globe imposing strict lockdowns that restricts the movement of the consumer, with an aim to control the spread of the disease, the global economic development has witnessed a considerable fall. However, the businesses are expected to witness steady growth from 2021, after the impact of COVID-19 reduces.
Some of the prominent crane aftermarket companies include Sany, Zoomilion, Altec, Konecranes, XCMG, Elliott Equipment Company, and Palfinger, among various others. These market players have entered into strategic alliances and mergers to seek investments in order to expand their business in the crane aftermarket industry. In 2019, Elliott Equipment Company reportedly announced its partnership with Beacon Funding- a construction equipment financing entity. The partnership aimed at helping the customers of Elliott to leverage the benefits of the financial services offered by Beacon.
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In terms of the application spectrum, the crawler crane segment has gained considerable momentum owing to the ability of these cranes to navigate tough, inaccessible surfaces and lift heavy loads. Crawler cranes are known to offer improved height capabilities along with detachable boom lifts for several performance ranges in all-terrain conditions and narrow spaces.
The crane aftermarket companies have stressed on constantly developing advanced solutions to best suit the changing preferences of its customers as well as to ensure efficiency in working. In April 2018, Swedish company Scanreco introduced SCAN500 Mini Transmitter remote control that addresses the demands of the OEM and aftermarket system integrator for heavy-duty cranes. The controller comprises an ergonomically designed touchscreen display solution for enhanced equipment performance with reduced operator fatigue.
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Mammoet- a Dutch company that specializes in engineered heavy-lifting and facilitate the transport of over-sized and heavy objects is reportedly expanding its services offered to include the rental of crawler cranes in the Mid-Atlantic region with a fleet of more than 40 cranes, ranging in capacity from 100 to 300 U.S. tons. The project aims at extending their solutions to construction entities, bridge contractors, civil contractors, and other potential customers.
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