One of the key factors propelling the expansion of this market is the rising demand for auto cranes in the infrastructure and construction industries. Auto cranes are useful for lifting and moving huge materials, which makes them perfect for raising steel beams during construction. The need for auto cranes is also being fuelled by the quick urbanisation and industrialisation taking place in various nations. This market is expanding as a result of the development of smart technology such as automated crane systems and telematics. Smart auto cranes come with features including on-board diagnostics, overload prevention, remote operation, and safety systems. These characteristics make these cranes safer and more effective, which raises end-user demand for them.
The development of the auto crane market will be mostly fuelled by the expanding construction sector, rising industrial activity, and technological advancements over the forecast period (2021-2031). The demand for auto cranes among end-user industries is anticipated to be driven by the growing requirement for effective material handling systems to decrease manual labour and boost productivity. Additionally, it is anticipated that rising government efforts and investments in the building industry will fuel market expansion.
The market for auto cranes is expected to expand rapidly over the course of the forecast period due to its many benefits. Auto cranes are the best choice for construction, industrial, and utility applications because they offer a quick and economical way to lift huge loads with little effort. They can be employed in a range of working conditions because of their resilience and mobility. They are also perfect for a variety of sectors due to their low maintenance requirements and safe functioning.
Large devices used to lift and transfer heavy goods from one place to another are called auto cranes, often referred to as mobile cranes. The equipment can be transported swiftly and conveniently between job locations thanks to its long-distance travel design. They are capable of performing a wide range of tasks, including industrial manufacturing, construction, and utility work.
The market for auto cranes was valued at USD 11.5 billion in 2020 and is anticipated to grow at a CAGR of 6.3% from 2021 to 2031 to reach USD 22.1 billion.
A few factors that may limit the growth of the auto crane market between 2021 and 2031 include unstable raw material costs, strict government rules and laws regulating lifting equipment, and a lack of skilled personnel. However, the market for auto cranes will experience significant growth due to the rising demand for effective lifting solutions that are also affordable, as well as rising construction activity in developing nations. According to estimates, a number of reasons, including rising investments in the infrastructure and construction industries, technological improvements and rising demand for automation and robotics, and expanding urbanisation, will boost the worldwide auto crane market.
There are many international firms vying for market share in the fiercely competitive auto crane market. Tadano Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd, Manitex International Inc., Liebherr Group, XCMG Construction Machinery Co., Ltd, Sany Group, Terex Corporation, Konecranes Plc, Manitowoc Company Inc., PALFINGER AG, and Hitachi Construction Machinery Co. Ltd. are a few of the major players.
The All-Terrain Crane Type to Emerge as the Most Lucrative Segment
The market for auto cranes is divided into types, such as all-terrain cranes, truck cranes, trailer-mounted cranes, rough terrain cranes, and others. Due to their adaptability, ease of transport, and capacity to navigate difficult terrain, all-terrain cranes are the most widely used kind of auto crane on the market. Truck cranes are the second most popular kind of auto crane due to their portability and versatility in both construction and industry. Cranes that are mounted on trailers provide excellent portability and mobility for use in forestry, civil engineering, and industrial settings. In the industry, rough terrain cranes are highly prized because they are made to be employed in challenging terrains like swamps or mountainous areas.
The Most Popular Application Segment is Construction
Construction, industries, utilities, and other sectors are included in the application-based segments of the auto crane market. Due to their capacity to transport huge objects fast and easily, auto cranes are most commonly used in the construction industry. Auto cranes are necessary for effective operations in a variety of industries, including manufacturing and agriculture, and they are being utilised more frequently in the utility industry because to their adaptability and simplicity.
North American region to render Adequate Financing Avenues
Regions such as North America, South America, Asia Pacific, Europe, Middle East & Africa (MEA), and others are included in the market segmentation for auto cranes. Due to the presence of numerous significant industrial and construction firms, North America accounts for the greatest portion of the global market for auto cranes. Some of the top companies in the auto crane sector are based in this area. Asia Pacific is anticipated to increase significantly during the projection period due to the region's continued industrialization, particularly in China and India. Additionally, the auto crane market in the area is anticipated to increase as a result of the robust economic expansion in nations like South Korea and Japan.
COVID-19 Impact and Market Status
The COVID-19 pandemic's disruption has resulted in a significant upheaval of the world market for auto cranes. Lockdowns, travel restrictions, and broken supply chains have all resulted in diminished demand for goods and services across numerous industries. The transportation of cranes can be difficult in some areas, and the car crane industry is no exception. However, when markets stabilise and projects get up again in the upcoming years, the industry is anticipated to rebound.
Latest Innovations in the Global Auto Crane Market: A Snapshot
• As a result of restrictions on crane operations in the US and Europe set by the American Society of Mechanical Engineers (ASME), the market is anticipated to increase over the projected period.
• All tower cranes must be fitted with an automated swing-out jib mechanism, per ASME regulations. Additionally, governments throughout the world are putting a lot of effort into promoting the adoption of cutting-edge technologies to save operating costs and boost productivity.
Auto Crane Market Scope
|Forecast Unit||Value (USD)|
|Revenue forecast in 2032||USD 22.1 billion|
|Growth Rate||CAGR of 6.3% during 2021-2031|
|Segment Covered||by Type, by Deployment, By Application, by Application, Regions|
|Regions Covered||North America, Europe, Asia Pacific, South America, Middle East and Africa|
|Key Players Profiled||Tadano Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd, Manitex International Inc., Liebherr Group, XCMG Construction Machinery Co., Ltd, Sany Group, Terex Corporation, Konecranes Plc, Manitowoc Company Inc., PALFINGER AG, and Hitachi Construction Machinery Co. Ltd.|
Key Segments of the Auto crane
By Type Overview, 2021-2031 (USD Billion)
• All Terrain Crane
• Truck Crane,
• Trailer-Mounted Crane,
• Rough Terrain Crane, Others
By Application Overview, 2021-2031 (USD Billion)
• Rest of Europe
• Rest of Asia Pacific
• Rest of South America
Middle East and Africa