Japan Crane Market Size, Share, and COVID-19 Impact Analysis, By Type (Mobile Crane, Fixed Crane, Marine, Off-shore Crane, Others), By Power (Up to 5MT, 5 to 50 MT, 50 to 250 MT, 250 to 500 MT, 500 to 1500 MT, 1500 to 3000 MT), By Application (Construction, Mining, Marine, Offshore, Utility, Manufacturing, Transport, Shipping, Oil & Gas/Energy, Industrial Applications, Others) and Japan Crane Market Insights Forecasts to 2030

Industry: Machinery & Equipment

RELEASE DATE Feb 2023

REPORT ID SI1503

PAGES 201

REPORT FORMAT

The Japan Crane Market Size is expected to be worth USD 20.6 billion and have a volume of 14672 units by 2030, with a compound annual growth rate (CAGR) of 3.27% by volume between 2021 and 2030. Japan is the world's leading exporter of construction equipment. Japanese manufacturers have a large dealer network all over the world. Crane exports from Japan increased by 11.8% in 2019. The rise in infrastructure development projects around the world is expected to increase demand for cranes and construction equipment.

Japan Crane Market

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Market Overview

Cranes are machines that are used to transport loads horizontally. It is mostly employed for lifting and moving heavy objects. It has wire ropes, sheaves, and hoist ropes installed to support the raising or lowering of heavy cargo. The primary components of the construction are disrupted down into its constituent parts, including the hydraulic system, the electrical system, the boom system, the turntable assembly, the operator cabin, and the chassis.

Japan's crane industry is expanding as a result of rising demand from the building industry. Various industries, including complicated manufacturing, telecommunication worksites, and shipbuilding, are likely to benefit from improving designs and high load-lifting capabilities. The demand for effective infrastructure has been amplified by the rise in electric vehicles and the adoption of smart cities, which are countering rising pollution levels, global warming, and awareness of greenhouse gas emissions. These factors have led to a steady growth in the construction and renovation of infrastructure.

In addition, the Japanese government announced a sustainable recovery plan for the pandemic's negative effects and announced plans to invest USD 700 billion in digital and green technology. The economic program is anticipated to keep businesses operating, boost employment, and fuel economic recovery. As part of its green technology initiatives, the government also launched wind power generation schemes in various parts of the nation.

Report Coverage

This research report categorizes the market for Japan Crane Market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the Japan Crane Market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segments of the Japan Crane Market.

Driving Factors

The crane market in Japan was valued at 9478 units in 2021 and is expected to grow to 14672 units by 2030, at a CAGR of 3.25%. The expansion of the mining industry and infrastructure investment will increase demand for cranes in Japan. Increased government investments in distinct infrastructure development projects, such as the redevelopment of Shibuya, Taranomon, and the new Shinagawa station, will increase demand for cranes and hoists in Japan. The demand for customized autonomous cranes will increase as technology advances in the construction sector. The need for mobile cranes is mostly driven by high-end infrastructure and urban development projects.

As Japan is an export-oriented nation, prominent Japanese manufacturers are widely present in important geographic areas and have significant dealer networks and sales assistance. Since Japan is the world's third-largest economy, it also manufactures cranes and exports them around the world. Tadano, one of the key vendors, manufactures construction cranes, truck loader cranes, and aerial work platforms all over the world. By establishing a global R&D cooperation network and opening R&D centres, the company focuses on technology and quality innovations.

Restraining Factors

Japan's crane market's growth is largely constrained by high investment costs and equipment maintenance expenses. Due to their exorbitant price, cranes deter other manufacturers, companies, and OEMs from investing in expensive equipment. Thus, buyers are choosing secondhand equipment, which is impeding the growth of the industry. Furthermore, governmental bodies such as the International Organization for Standardization (ISO), the Occupational Safety and Health Administration (OSHA), and others enact various safety standards. However, the number of injuries sustained while working on floating structures remains high, owing to the manufacturer's and workers' disregard for safety precautions.

COVID 19 Impacts

During the COVID-19 pandemic, Japan had a significant impact on the crane industry. Initially, business expansion was hampered by strict lockdowns, a labour shortage, and delays in manufacturing activities. Many construction and transportation operations and projects were halted due to movement restrictions. However, in the post-pandemic era, the sector has expanded dramatically, fueled by rising smart city projects and government emphasis on infrastructure development, which has increased the use of cranes. Under green technology programs, the government also launched wind power generation plans in various regions of the country. Overhead and jib cranes are required for the construction of these wind power generation plants. As a result of the government's emphasis on green and digital technology, demand for a crane with automated and fuel-efficient technology is also expected to rise.

Market Segmentation

In 2022, the mobile crane segment is witnessing a higher growth rate over the forecast period.

Based on type, the Japan Crane Market is segmented into mobile cranes, fixed cranes, marine, off-shore cranes, and others. Among these, the mobile crane segment is witnessing a higher growth rate over the forecast period. The market for mobile cranes is divided into all-terrain cranes, rough-terrain cranes, crawler cranes, truck-mounted cranes, and other mobile cranes. All-terrain cranes are made to function in a range of weather conditions. Due to the country's expanding industrial sector and growing construction industry, all-terrain cranes are predicted to gain significant traction in Japan. In recent years, it has been more and more common to establish smart cities, which has led to a surge in demand for all-terrain cranes in the building, mining, and power sectors.

In 2022, the 1500 to 3000 MT segment is witnessing significant CAGR growth over the forecast period.

On the basis of power, the Japan Crane market is segmented into less than Up to 5MT, 5 to 50 MT, 50 to 250 MT, 250 to 500 MT, 500 to 1500 MT, and 1500 to 3000 MT. Among these, the 1500 to 3000 MT segment is witnessing significant CAGR growth over the forecast period. Mobile cranes with this capacity that are temporarily mounted are required for performing complex tasks in a variety of industries, particularly construction. They are also used in railway and transportation for accident recovery and maintenance.

In 2022, the construction segment is dominating the market with the largest market share of 60% over the forecast period.

Based on application, the Japan Crane market is segmented into construction, mining, marine, offshore, utility, manufacturing, transport, shipping, oil & gas/energy, industrial applications, and others. Among these, the construction segment dominates the market with the largest market share of 60% over the forecast period owing to the increasing demand for fixed cranes. As these structures are anchored to the ground, they have excellent stability and a high load capacity at greater heights. The market for industrial applications, oil and gas, mining, and other end-users is anticipated to increase steadily in Japan as expenditures in these industries continue at their current rate.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the Japan Crane Market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.

List of Key Companies

Tadano
Kobelco Construction Machinery Japan Co., Ltd.
Toyo Hoist Co. Ltd.
Komatsu Ltd.
Tokyo Julki Co. ltd.
Ohya Corporation
Manitex International, Inc.
Manitowoc
SANY
Konecranes
Liebherr
Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
Terex Corporation
Cargotec

Key Target Audience

Market Players
Investors
End-users
Government Authorities
Consulting and Research Firm
Venture capitalists
Value-Added Resellers (VARs)

Recent Developments

In January 2023, Tadano Ltd. introduced and demonstrated the new TM-ZX1205HRS load crane in Thailand at Saha Crane Auction Co., Ltd. Sales of the new TM-ZX1205HRS loader crane are expected to increase in the construction, transportation, and logistics industries.

In September 2022, Tadano Ltd. is researching and developing artificial intelligence (AI) systems for future lifting needs. AI technology will be useful not only for controlling suspended load sway but also for assisting operators in making operational decisions. For example, by sensing obstacles in the work environment, AI systems can assist in determining the optimal trajectory for moving a suspended load.

Market Segment

This study forecasts revenue at global, regional, and country levels from 2019 to 2030. Spherical Insights has segmented the Japan Crane Market based on the below-mentioned segments:

Crane Market, By Type