Thailand Crane Market (2024-2030) | Companies, Value, Outlook, Analysis, Revenue, Growth, COVID-19 IMPACT, Size, Trends, Share, Forecast & Industry

Market Forecast By Types (Mobile Crane, Fixed Crane, Marine, and Offshore Crane), By Applications (Industrial Applications, Marine and offshore, Mining and Excavation, Construction) and Competitive Landscape

Product Code: ETC002231	Publication Date: Apr 2020	Updated Date: Sep 2024	Product Type: Report
Publisher: 6Wresearch	No. of Pages: 70	No. of Figures: 35	No. of Tables: 5

Thailand Crane Market Competition 2023

Thailand Crane market currently, in 2023, has witnessed an HHI of 5585, Which has increased moderately as compared to the HHI of 3390 in 2017. The market is moving towards concentrated. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.

Thailand Export Potential Assessment For Crane Market (Values in USD Thousand)

Thailand Crane Market Highlights

Report Name	Thailand Crane Market
Forecast period	2024-2030
CAGR	6.2%
Growing Sector	Construction and Engineering Sector

Topics Covered in Thailand Crane Market Report

The Thailand Crane Market report provides a comprehensive evaluation by types, application segments, leading players, and key government initiatives. This detailed report offers stakeholders valuable insights into current and projected market trends, main drivers, high-growth segments, and key challenges, aiding in the formulation of strategic decisions and aligning market strategies with evolving industry dynamics.

Thailand Crane Market Synopsis

The Thailand Crane Market is experiencing robust growth, driven by the country's expanding construction and infrastructure development projects. As urbanisation accelerates, there is a rising demand for various crane types, including mobile, fixed, marine, and offshore cranes. Key sectors such as industrial, construction, and mining are evolving, necessitating efficient lifting solutions. Moreover, governmental investments in infrastructure and transportation are propelling market expansion. However, economic fluctuations and competition from international suppliers present considerable challenges.

According to 6Wresearch, The Thailand Crane Market size is expected to grow at a significant CAGR of 6.2% during the forecast period 2024-2030. The growth of the Thailand Crane Market is primarily propelled by technological advancements, enhancing crane performance and safety features. Increasing investments in large-scale construction projects and government infrastructure initiatives significantly contribute to rising demand. Furthermore, the shift towards automation and modern construction practices boosts the adoption of advanced cranes that improve efficiency and reduce operational costs. Additionally, growth in the logistics and shipping sectors enhances the need for marine and offshore cranes to support expanding maritime activities.

Despite its promising outlook, the Thailand Crane Market faces several challenges. One significant barrier is the high cost associated with advanced crane technologies, which can deter small to medium-sized enterprises from making necessary investments. Additionally, regulatory hurdles surrounding safety standards and operational certifications can complicate market entry for new players. Moreover, intermittent economic downturns and currency fluctuations may impact procurement budgets and project timelines, restraining market growth.

Thailand Crane Market: Leading Players

The Thailand Crane Market is led by prominent companies such as Manitowoc Cranes, Terex Corporation, and Liebherr Group. These industry leaders play a pivotal role in advancing crane technologies, offering an extensive range of products tailored to various applications. Their commitment to innovation, quality, and customer service has positioned them as key contributors to the market's development.

Thailand Crane Market: Government Initiatives

The Thai government has launched several initiatives to bolster the crane market, including the "Thailand 4.0" policy aimed at promoting advanced manufacturing and infrastructure improvements. Investments in transportation and urban development projects under the "Eastern Economic Corridor" initiative further stimulate demand for cranes. Additionally, the government is enhancing safety regulations and providing incentives for companies that invest in new technologies, ensuring a progressive and competitive market environment.

Future Insights of the Market

The future of the Thailand Crane Market appears promising, with significant growth opportunities on the horizon. The market is anticipated to witness an increase in demand for eco-friendly crane solutions as sustainability becomes a pressing industry theme. Furthermore, the adoption of smart technology, such as IoT-enabled cranes for real-time monitoring, is expected to reshape operational efficiencies. However, players must remain vigilant about evolving regulations and competition as they navigate this dynamic landscape.

Market Segmentation By Types

According to Ravi Bhandari, Research Head, 6Wresearch, within the Thailand crane market, the mobile crane segment is the most rapidly growing area. This surge is attributed to the increasing demand for mobile cranes in construction projects, where flexibility and the ability to navigate restricted spaces are vital. Mobile cranes offer quick setup and repositioning capabilities, making them particularly suited for urban developments where efficiency and adaptability are paramount. Meanwhile, fixed cranes also demonstrate growth, especially in large-scale industrial applications that require consistent lifting capabilities.

Market Segmentation By Applications

In terms of applications, the construction sector represents the fastest-growing segment within the Thailand crane market. The ongoing urbanization and infrastructure projects in the country drive substantial demand for cranes, as they are essential for lifting heavy materials and facilitating smooth construction processes. Additionally, the mining and excavation sector is witnessing increased use of cranes, given the need for lifting and transporting machinery and materials in remote and challenging terrains. These trends indicate a robust investment in crane technology within Thailand's growing economy, aligning with national development goals.

Key Attractiveness of the Report

10 Years Market Numbers.
Historical Data Starting from 2020 to 2023.
Base Year: 2023
Forecast Data until 2030.
Key Performance Indicators Impacting the Market.
Major Upcoming Developments and Projects.

Key Highlights of the Report:

Thailand Crane Market Overview
Thailand Crane Market Outlook
Thailand Crane Market Forecast
Historical Data of Thailand Crane Market Revenues & Volume for the Period 2020-2030.
Thailand Crane Market Size and Thailand Crane Market Forecast of Revenues and Volume, Until 2030.
Historical Data of Thailand Crane Market Revenues and Volume, By Applications, for the Period 2020-2030
Market Size & Forecast of Thailand Crane Market Revenues and Volume, By Applications, Until 2030
Historical Data of Thailand Crane Market Revenues and Volume, By Types, for the Period 2020-2030
Market Size & Forecast of Thailand Crane Market Revenues and Volume, By Types, Until 2030
Historical Data of Thailand Crane Market Revenues and Volume, By Regions, for the Period 2020-2030
Market Size & Forecast of Thailand Crane Market Revenues and Volume, By Regions, Until 2030
Market Drivers and Restraints
Thailand Crane Market Trends and Industry Life Cycle
Porter's Five Force Analysis
Market Opportunity Assessment
Thailand Crane Market Share, By Players
Thailand Crane Market Share, By Regions
Thailand Crane Market Overview on Competitive Benchmarking
Company Profiles
Key Strategic Recommendations