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Procurement Market Intelligence Report

Tower Cranes
Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Tower Cranes?

What is the average price of Tower Cranes?

This procurement report includes pricing information to help you purchase Tower Cranes. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Tower Cranes been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Tower Cranes yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Tower Cranes?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Tower Cranes with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase ?

Market share concentration for tower cranes is moderate. There are about 700 vendors of tower cranes, and the top four vendors in the market generate about 30.0% of market revenue. The high barriers to entry in this market, which include large-scale production facilities, advanced design and testing capabilities and a... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Experience and Expertise

How long have you provided these products to your longest-tenured client?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

What industry do you most commonly supply this product for?

To what extent will ordering multiple products from your firm allow me to save on costs?

What is your repeat business rate for businesses in my industry and how does that compare to your overall rates?

Supply Chain Risk

Over the past three years, what percentage of your revenue has been dedicated to raw input materials? How has that changed?

Has the availability of raw materials tightened due to the coronavirus outbreak?

Over the past three years, what percentage of your revenue has been dedicated to labor?

How have fluctuations in input prices affected the prices of your products during the past three years?

How do you mitigate sudden price increases in raw materials?

When input prices rise, how much of the cost is absorbed by you and how much is passed onto buyers?

How, if at all, has your supply chain been affected by import tariffs levied in 2018?

Regulation

How do you manage regulatory change? Do you have regulation advisers or methods to track regulation?

How have changing regulations influenced your pricing now and how will the changes affect prices over the life our proposed agreement?

What ongoing training procedures do you provide for your staff?

Have you ever been found to be noncompliant with regulatory frameworks?

Amid widespread health concerns during the COVID-19 pandemic, what contingency plans are in place to mitigate risk to your clients and employees? Do you offer clients any flexible exceptions, such as contract suspensions?

Experience

How long have you been active in this field? How long have you served operators in my market?

Tell me about similar projects you have worked on in the past. What challenges did you face, and how did you overcome them?

Can you provide information on the backgrounds and experience levels of key personnel?

What qualifications does your staff have and what measures do you take to keep those qualifications up to date?

Quality Control

How often do you experience defects with your products?

To what degree are in-process inspections and process controls carried out?

What is your acceptable margin of error for the product(s) I am seeking to purchase?

What types of technical issues have you experienced with your cranes?

How do you ensure your cranes' quality? What performance-monitoring systems are in place at your company?

Service & Maintenance

Do you offer maintenance and repair services? If not, can these services be included at an additional cost?

How quickly can your technicians be on site if technical support or repair is required?

What is the anticipated useful life of your tower cranes? Are there any instances or circumstances that would significantly reduce the useful life?

Do you have a buyback program? If so, what are the terms of the program?

Product Lines

What additional products or services do you offer separate from the purchase of tower cranes?

Other than your referral, are there any other incentives for me to use your preferred installer?

What types of discounts do you offer for specific crane types or brands?

Do you offer any training and support services? If so, what are the fees?

Supply Chain Risk

How do you manage risk in your supply chain?

Who are your most important suppliers? How long have you been in business with them?

Have you ever experienced a price spike from one or more of your suppliers? How did you cope with the spike?

How often do you evaluate your supply chain's prices to ensure they are still competitive?

Customer Service

Do clients have a dedicated account manager or do they call a general support line?

How many clients does each account manager look after?

Do you offer 24/7 customer account/technical support?

How can customer service representatives be reached? What is the typical response time for each of these methods?

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Key elements for every RFP

What should my RFP include?

Project Budget

Buyers should state their total budget for tower crane purchases.

Buyers should describe their preferred payment method and schedule.

Selection Criteria

Buyers should evaluate prospective suppliers on their ability to provide quality tower cranes that fit their needs.

Buyers should give preference to suppliers with extensive experience and strong customer service.

Buyers should assess prospective suppliers' ability to offer competitive prices.

For a detailed list of key selection criteria, buyers should reference the Buying-Decision Scorecard of this report.

Project Schedule

Buyers should specify the date by which proposals must be submitted.

Buyers should indicate when prospective suppliers should expect to receive award information.

Buyers should specify the date by which they require their tower crane purchases to be delivered on site.

Evaluate major factors to mitigate risk

How risky is the supply chain?

The supply chain risk associated with tower cranes is moderate. Although supply chain risks are not expected to impact the availability of key raw materials or main components of tower cranes, they may influence the prices buyers ultimately pay for their cranes. Of first and second tier suppliers, iron and... Subscribe to learn more.

HIGH

MEDIUM

LOW