Overview and Scope
The mobile cranes refer to a hydraulically driven crane with a telescoping boom mounted on truck-type carriers or as self-propelled variants, or a cable-controlled crane mounted on crawlers or rubber-tired carriers. Mobile cranes are intended to lift and lower things, as well as move them horizontally, using a group of simple devices. Since this kind of crane is simple to transport from one place to another, many construction businesses find it to be an affordable rental alternative.
Sizing and Forecast
The mobile cranes market size has grown strongly in recent years. It will grow from $15.67 billion in 2023 to $16.72 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to construction boom, infrastructure development, increased urbanization, oil and gas exploration, port and shipyard development, growth in manufacturing, government investments..
The mobile cranes market size is expected to see strong growth in the next few years. It will grow to $21.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing safety regulations, expansion of wind energy, focus on sustainable construction, demand for compact and all-terrain cranes, infrastructure modernization.. Major trends in the forecast period include telematics and iot integration, growth in rental market, infrastructure rehabilitation and maintenance, customization for specific applications, digitalization of crane operations..
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Segmentation & Regional Insights
The mobile cranes market covered in this report is segmented –
1) By Product Type: Truck Mounted Crane, Trailer Mounted Crane, Crawler Crane
2) By Terrain Type: On road, Rough Terrain, All Terrain
3) By Application Type: Construction & Mining , Utility, Manufacturing, Transport/Shipping, Oil and Gas/Energy
Asia-Pacific was the largest region in the mobile cranes market in 2023. The regions covered in the mobile cranes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Government initiatives for construction activities are expected to propel the growth of the mobile cranes market going forward. Various governments across the world are encouraging construction to improve the infrastructure. Construction of buildings and the installation of huge equipment both frequently use mobile cranes. For instance, in January 2021, the Saudi Arabian government unveiled plans for a 100-mile belt of walkable, zero-energy communities. The 100-mile (170-kilometer) megacity, which it refers to as ‘city modules,’ will connect Saudi Arabia’s northwestern region with the Red Sea coast. There won’t be any automobiles or streets in the city, and everyone in it can get by on foot in less than five minutes. Therefore, government initiatives are driving the growth of the mobile cranes market.
Key Industry Players
Major companies operating in the mobile cranes market report are Terex Corporation, Kobelco Construction Machinery Co. Ltd., Palfinger AG, Bauer AG, SANY Group, Zoomlion Heavy Industry Science and Technology Co. Ltd., Manitowoc Company Inc., Manitex Inc., Liebherr Group, Kato Works Co. Ltd., Tadano Limited, Xuzhou Construction Machinery Group Co. Ltd., Sumitomo Heavy Industries Limited, Cargotec Corporation, LiuGong Machinery Company Limited, Konecranes, Favelle Favco Group, Gorbel Inc., American Crane & Equipment Corp., Saginaw Products Corp., Zhenhua Heavy Industries Co. Ltd., Hitachi Sumitomo Heavy Industries Construction Crane Co.Ltd., Sarens NV, Sennebogen Maschinenfabrik GmbH, Link-Belt Cranes, Grove Worldwide LLC, Demag Cranes & Components GmbH, Hiab AB, Huisman Equipment B.V., Fassi Gru S.p.A., Effer S.p.A.
The mobile cranes market report table of contents includes:
1. Executive Summary
- Mobile Cranes Market Characteristics
- Mobile Cranes Market Trends And Strategies
- Mobile Cranes Market – Macro Economic Scenario
- Global Mobile Cranes Market Size and Growth
.
31. Global Mobile Cranes Market Competitive Benchmarking - Global Mobile Cranes Market Competitive Dashboard
- Key Mergers And Acquisitions In The Mobile Cranes Market
- Mobile Cranes Market Future Outlook and Potential Analysis
- Appendix
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