SpendEdge has been monitoring the global crane market and the market is poised to experience spend growth of more than USD 9 billion between 2017-2022 at a CAGR of more than 5% during the forecast period. Request Free Sample Pages.
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Read the 107-page research report with TOC and LOE on “The Global Crane Market, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, and insights into best practices to optimize procurement spend.”
Buyers are placing their preference on Industry 4.0-compliant crane components for boosting operational efficiency. This is acting as one of the key spend growth drivers in the global crane market. The accelerating volume of exports is resulting in an increase in port development activity which is driving the demand for cranes at an exponential rate.
Increasing investments in the development of renewable energy generation projects and the unveiling of construction projects for railway tunnels, underwater tunnels are driving spend growth in the crane market in Europe.
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Insights into market price trends:
- Suppliers are implementing the capabilities of sophisticated product data management and lifecycle management software to provide a built-in revision and version control in cranes. This will propel the production cost of cranes which will have an inflationary impact on the crane market price.
- Forecasts of volatility in the prices of metal commodities such as iron, steel, and aluminum that are used to manufacture cranes will contribute to the inflationary nature of the crane market price during the forecast period.
What are the strategies to adopt to optimize procurement spend in this market?
Evaluate the impact on TCO for leasing vs. purchasing as per project timelines and individual project requirements
It is crucial for buyers to evaluate the purchasing versus leasing options for individual projects. The purchasing of equipment lowers operational costs over the long run. Prevention of equipment obsolescence, reduction of TCO tax savings are some of the impacts on buyers’ TCO if they choose to lease cranes instead of buying.
Engage with suppliers who provide provisions for older equipment buyback or disposal
Most of the electrically powered machinery and equipment used in manufacturing plants are classified as electronic waste. The disposal of the equipment involves costs on the collection, logistics, labor, and resources required to de-manufacture the equipment. This makes it critical for buyers to engage with suppliers who can provide older equipment buyback and recycling services besides providing new equipment.
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Some of the key topics covered in this report are:
- Crane market spend segmentation by region
- Total cost of ownership analysis in the crane market
- Regional spend opportunity for crane suppliers
- Crane suppliers cost structure
- Crane pricing models analysis
- Crane procurement best practices
- Category management objectives
- Cost saving opportunities in the crane market
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