Crane Mats Market: Overview
Ground stabilization is critical when working with cranes. If the ground is uneven or soft, there is a possibility the crane may become unstable and tip over. Hence, crane mats are used for providing a level, solid, and steady base for crane operation. Construction and pipeline industries are major end-users of crane mats.
Significant expansion in the global construction sector is driving the demand for crane mats. There has been a shift in population toward urbanized areas, especially in developing nations, due to the increase in population and urbanization. This transition has led to a rise in demand for homes and residential complexes. Additionally, increase in investment in new commercial constructions and infrastructure projects is fueling the demand for crane mats. Furthermore, growth in investments in power transmission and distribution (T&D) networks is driving the crane mats market.
Crane Mats Market: Key Segments
The global crane mats market can be segmented based on type, end-use, and region. Based on type, the crane mats market can be bifurcated into Douglas fir crane mats and hardwood crane mats. The hardwood crane mats segment dominates the crane mats market. This trend is estimated to continue during the forecast period. Hardwood crane mats are available in various sizes. The segment is expected to expand at a rapid pace during the forecast period, as these crane mats are environment friendly.
Based on end-use, the global crane mats market can be divided into construction, pipeline, and others. The construction segment accounts for major share of the global crane mats market. The segment is projected to expand a faster pace than the other segments during the forecast period. The pipeline industry uses crane mats for ground stabilization while digging and laying pipes. Hence, rise in number of pipeline installation projects is driving the demand for crane mats.
Crane Mats Market: Regional Outlook
In terms of region, the global crane mats market can be segregated into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the global crane mats market in 2017. This trend is likely to continue during the forecast period, due to the increase in construction activities in countries such as China, Japan, India, and Indonesia. China is one of the leading countries in Asia Pacific. The Government of China has enacted favorable policies to lower the proportion of down payment for second house loans and exemption of sales tax for residential housing. This has helped the commercial housing market to recover. In turn, this is expected to positively influence the market. North America is another major region of the global crane mats market. The U.S. is a prominent country for crane mats in North America. Strong development in commercial and residential structures in the U.S. is anticipated to fuel the demand for crane mats in the region. Additionally, high growth in pipeline construction projects is fueling the market. For instance, in June 2018, TransCanada Corporation, a Canada-based energy infrastructure operator, awarded a contract to a joint venture made up of Spiecapag Canada Corp, a VINCI subsidiary, and Macro Pipelines Inc. to build two sections of gas pipeline in the province of Vancouver, British Columbia.
Crane Mats Market: Key Players
Major companies operating in the global crane mats market include Horizon North Logistics Inc., Sell Lumber Corporation, Viking Mat, South Eastern Timber Corporation, Beasley Forest Products, The Crane Mat Company, Sterling Company, Quality Mat Company, Thomasson Company, and Crane Mats Northeast, LLC.