Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by
Infinium Global Research on the mobile crane market provides an 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 the 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 nearly
6% over the forecast period of 2022-2028.
The revenue generated by the mobile crane market was approximately USD 14 billion in 2022 and is expected to reach nearly USD 20 billion in 2028 with a CAGR of about 6% over the forecast years. 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, 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.
The report on 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,
sidelifter 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.
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 Technology
Co., Ltd, Manitex, Inc., SANY Group, and The Manitowoc Company, Inc.
The report provides deep insights
into 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 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 2022-2028. 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 insight into the market share of the leading players.
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