A recent report ongoing by Infinium Global Research on the mobile crane market provides in-depth analysis of segments and sub-segments in the BRICS as well as the regional mobile crane market. The study also highlights the impact of drivers, restraints, and macro indicators on the BRICS 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 BRICS mobile crane market. According to the report, the BRICS mobile crane market is projected to grow at a significant CAGR over the forecast period of 2021-2027.
Mobile cranes usually have a boom through which a hook is suspended using sheaves and wire ropes. The technology of the machines changes depending on the size of the crane and the purpose of the crane development process. A tower crane is required for several lifting techniques, which is not always possible. Statue lifting and inside lifts are not possible with static tower cranes. As a result, mobile cranes are the most cost-effective answer to this problem. Setting up a mobile crane requires less time. The most important advantage of a mobile crane is its versatility and capacity to reach areas that a static crane cannot. The mobile crane takes up very little space. Mobile cranes are the cheapest of the various crane types, making them an economical choice. There are different types of mobile cranes such as Folding boom mobile crane, Truck-mounted mobile crane, Sidelifter mobile crane, All-terrain mobile crane, Rough terrain mobile crane, Crawler mobile cranes and various others.
BRICS countries are the emerging economies in the world. In BRICS countries China and India alone hold 40% of the population out of which maximum people are expected to be based in urban centers. Urbanization is growing at lightning speed in BRICS countries. Thus the construction of housing projects, urban infrastructure, and commercial infrastructure projects is going on in full swing. Therefore, mobile cranes are being used on large scale in urban infrastructure projects and offer easy mobility and lifting capabilities. On the other hand, the logistics and transportation industry is rapidly increasing owing to the rise in the arrival of sea cargo and international freight in BRICS countries with growth in the industries that require logistics and transportation services. Thus, the demand from the logistics and transportation industry has grow significantly. Both these factors are driving the growth of the market. The high cost of maintenance, in the long run, may hinder the adoption of the same by BRICS countries. Thus, this factor is expected to be the major restraining factor. New opportunities are expected to arise in the market as new automation technologies are emerging.
China is expected to be the leading country in the BRICS countries. Followed by India, which is expected to be the fastest-growing country in BRICS. The Chinese economy has been prospering at breakneck speed. To support the high growth of industry China has undertaken many multi-billion dollar infrastructure projects. As the country is the prospering population in the rural areas are turning towards urban centers for better employment and standard of living. This has prompted the increase in the limits of the cities and given rise to rapid urbanization for housing the increasing migration of people to urban centers. All these factors along with the booming industries such as transportation and logistics and shipping has greatly increased the demand for mobile cranes. Furthermore, China has huge technological prowess and advanced base which led to emergence of many local players offering mobile crane solutions locally. Additionally, these local players are giving tough competition to foreign players and expanding in overseas markets. China has been the lucrative market for many foreign players, thus they are eager in setting up their manufacturing plants in the country with some of them have already moved ahead with these plans. Thus, all these factors have helped the market flourish in China. India is also rapidly developing with rapid growth in urbanization, logistic industries and others.
The report on BRICS 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, crawler mobile cranes, 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.
The report provides profiles of the companies in the market such as Liebherr-International Deutschland GmbH, Cargotec Corporation, Xuzhou Construction Machinery Group Co., Ltd., Terex Corporation, Kobelco Construction Machinery Co., Ltd, Tadano Ltd, Palfinger AG, Zoomlion Heavy Industries Science and Technology Co., Ltd, Manitex, Inc., and The Manitowoc Company, Inc..
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 BRICS 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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