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Mobile Crane Market (Type - Folding Boom Mobile Crane, Truck-mounted Mobile Crane, Sidelifter Mobile Crane, All-terrain Mobile Crane, Rough Terrain Mobile Crane, Crawler Mobile Cranes, Stiff Boom Mobile Crane, Telescopic Handler Mobile Crane, and Others; End Use - Construction, Transport and Logistics, Manufacturing, Shipping and Marine, Oil and Gas, and Others): Global Industry Analysis, Trends, Size, Share and Forecasts to 2027

  • Published : March, 2022

  • Rep Id : AT00246

  • Category : Automotive, Aerospace & Defence

  • Status : Published

A recent report published by Infinium Global Research on the mobile crane market provides in-depth analysis of segments and sub-segments in the global as well as regional mobile crane market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional mobile crane market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of the global mobile crane market. According to the report, the global mobile crane market is projected to grow at a CAGR of approximately 6% over the forecast period of 2021-2027.

 

Market Insight

The revenue generated by the market was approximately USD 13,170.6 million in 2021 and is expected to reach approximately USD 18,514.5 million in 2027 with a CAGR of approximately 6% over the forecast period of 2021-2027. Cable-controlled cranes mounted on crawlers or rubber-tired carriers, or hydraulic-powered cranes with telescoping booms mounted on truck-type carriers or as self-propelled types, are examples of mobile cranes. The machines' technology varies based on the crane's size and the goal of the crane development process. Many lifting procedures require the use of a tower crane, which is not always feasible. Static tower cranes are unable to perform operations such as statue lifting or inside lifts. As a result, mobile cranes are the best solution to such a dilemma. It takes less time to set up a mobile crane. The most significant benefit of a mobile crane is its flexibility and ability to access regions that a static crane cannot. The mobile crane does not take up a lot of room. Mobile cranes are the least expensive of the major crane types, making them a cost-effective option.

 

According to the World Bank, 56% of the total world population is urban, residing in urban cities, and is expected to double by 2050, with 10 out of 7 people living in cities. The rapidly growing urban population has increased the urgency for upgrading current urban infrastructure and creating a suitable one to accommodate the rapidly growing urban population. The United States announced plans to invest USD 2 trillion in reshaping the economy and rebuilding infrastructure by 2021. government plans to invest USD 1.4 trillion in infrastructure during 2019–23. Mobile cranes are widely used in urban infrastructure projects and play a central role in offering flexible and mobile lifting capabilities. Mobile crane manufacturers are working to create cranes that can handle the challenges of urban construction sites. The growing demand and the number of urban infrastructure projects are expected to drive the growth of the market. The strong growth in the transportation and logistics industry is also expected to boost the growth of the market. The demand for mobile cranes from the transportation and logistics industry is strong and growing as the operations in the industry are rapidly growing. The growth of the market may be restrained due to the high maintenance cost of mobile cranes in the long run. These machines need to be continuously maintained in order to ensure their efficient functioning and safety during operations. Nevertheless, new growth opportunities are in foresight as new automation technologies are emerging in the market. New automation technologies are being integrated into mobile cranes by manufacturers.

 

Asia-Pacific is developing at an exponential rate. Strong industrial growth, a growing urban population, and overall economic prosperity in Asia-Pacific are responsible for the strong growth of the market in Asia-Pacific. Developing countries such as India, China, Bangladesh, Indonesia, Vietnam, and others are focusing on developing their urban infrastructure to accommodate their rapidly growing urban population. Countries such as India plan to invest USD 1.4 trillion from 2019 to 2023. Industrial powerhouses such as China have experienced strong growth over the last decade. Industries relying on mobile cranes, such as construction, oil and gas, energy, manufacturing, transport, and logistics, have grown rapidly. Many local players offering a range of mobile cranes have emerged, spanning across countries in the Asia-Pacific. Players such as Tadano Ltd, Kobelco Construction Machinery Co., Ltd, and Zoomlion Heavy Industries Science and Technology Co., Ltd have their headquarters in Asia-Pacific, which is their domestic market. North America is expected to be the second largest region in the market. The demand for mobile cranes from end-user industries is expected to be the major reason for the strong growth of the market in North America. 

 

Segment Covered

The report on the global mobile crane market covers segments such as type and end use. On the basis of type, the sub-markets include folding boom mobile crane, truck-mounted mobile crane, side lifter mobile crane, all-terrain mobile crane, rough terrain mobile crane, crawler mobile cranes, stiff boom mobile crane, telescopic handler mobile crane, and others. On the basis of end use, the sub-markets include construction, transport and logistics, manufacturing, shipping and marine, oil and gas, and others.


Mobile Crane Market

 

Companies Profiled:

The report provides profiles of the companies in the market such as Liebherr-International Deutschland GmbH, Cargotec Corporation, Terex Corporation, Kobelco Construction Machinery Co., Ltd, Tadano Ltd, Palfinger AG, Zoomlion Heavy Industries Science, and T

 

Report Highlights:

The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the mobile crane market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.


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