January 22, 2013 03:08 ET

Market Research Report -- CAGR of 6.54% Through 2016 for Global Cranes, Lifting and Handling Equipment

ROCKVILLE, MD--(Marketwire - Jan 22, 2013) - has announced the addition of the market research report "Global Cranes, Lifting and Handling Equipment - Market Opportunity and Environment, Analyses and Forecasts to 2016" to their product offering.

The global cranes, lifting and handling equipment market valued US$109.5 billion in 2011, of which the Asia-Pacific region constituted a 44.4% share, making it the largest regional market for cranes, lifting and handling equipment in the world. In the same year, Europe and North America were the second and third-largest regional markets, with 37.7% and 10.1% shares respectively. The market shares of the European and North American regions are expected to be 32.6% and 8.5% respectively in 2016, a decline from shares in 2011, while the Asia-Pacific region is forecast to increase its share to 50.9% in the same year.

In terms of growth, the global cranes, lifting and handling equipment market recorded a CAGR of 0.88% during the review period. The key contributor to this marginal growth rate was the decline in yearly growth rate by 18.5% in 2009. The global cranes, lifting and handling equipment market is expected to record a CAGR of 6.54% over the forecast period, in anticipation of the growing global construction industry and the improved performance of the global economy following the easing of the economic crisis in Europe.

Cranes and overhead lifting equipment was the largest category in the market. The category valued US$28.7 billion in 2011, constituting a 26.2% share in the global market.

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