The average price for gantry cranes is forecast to continue rising as demand continues to rise and the cost of production increases
Los Angeles, CA (PRWEB) December 15, 2014
Gantry cranes have a buyer power score of 3.6 out of 5. This score reflects moderate buyer power resulting from the product's widespread availability and the high level of price competition in the market. Recent demand growth and price fluctuations for key inputs have slightly reduced buyer negotiating power.
In the three years to 2014, the price of gantry cranes has been increasing largely due to a rise in demand, specifically from the industrial sector and the construction and automobile industries. Suppliers are also expected to see a rise in input costs, particularly in the price of aluminum and steel, during the same period. “The prices for gantry cranes will likely trend upward as suppliers pass off a portion of their increased input costs to buyers,” according to IBISWorld business research analyst Jordan Weinstein.
Fortunately for buyers, the rise in demand and input costs for gantry cranes will not lead to significant price increases. An expected rise in imports will allow buyers to purchase less expensive machinery abroad, which will put pricing pressure on domestic suppliers. “As competition from imports grows, suppliers that drastically raise price as demand rises will lose clients to those vendors offering the machinery for less,” says Weinstein.
Price aside, buyer power is further aided by the widespread availability of gantry cranes and strong competition in the market. IBISWorld estimates that there are over 750 vendors operating in the market in 2014, providing buyers with a healthy number of capable suppliers to satisfy their needs. Major vendors include Beacon Industries Inc., Spanco Inc. and MSC Industrial Direct Co. Inc. For more information, visit IBISWorld’s Gantry Cranes procurement category market research report page.
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IBISWorld Procurement Report Key Topics
This report is intended to assist buyers of gantry cranes. Gantry cranes are mainly used in manufacturing facilities and warehouses to lift heavy objects. These cranes are typically sold through crane manufacturers and construction machinery wholesalers. This report will not discuss industrial-sized gantry cranes used by industrial ship builders, tower cranes or truck-mounted cranes.
Recent Price Trend
Product Life Cycle
Total Cost of Ownership
Supply Chain &amp; Vendors
Supply Chain Dynamics
Supply Chain Risk
Market Share Concentration
Buying Lead Time
Key RFP Elements
Buyer Power Factors
About IBISWorld Inc.
IBISWorld is one of the world's leading publishers of business intelligence, specializing in Industry research and Procurement research. Since 1971, IBISWorld has provided thoroughly researched, accurate and current business information. With an extensive online portfolio, valued for its depth and scope, IBISWorld’s procurement research reports equip clients with the insight necessary to make better purchasing decisions, faster. Headquartered in Los Angeles, IBISWorld Procurement serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.