Covid-19 Impact & Market Status

The global mobile crane market was worth $14.4 billion in 2021 and is expected to be worth $ 24.5 billion by 2031, growing at a 5.3% CAGR from 2022 to 2031.

The COVID19 pandemic has halted manufacture and sales of a variety of mobile crane items, owing to the protracted lockdown in major worldwide countries such as the United States, Italy, the United Kingdom, and others. This has significantly slowed the growth of the mobile crane market in recent months and is expected to continue in 2020. Regulations have also reduced demand for oil and gas products, weakening activity in the oil and gas business.

Remote access to equipment that operates without human intervention is provided by autonomous and automated crane systems. Mobile cranes can be controlled by remotely operated sensors using artificial intelligence and network sensors. Eliminates the possibility of human error by providing real-time information on boom angle, payload weight, level reach and crane efficiency. The cell crane marketplace is expected to grow at some point of the forecast period due to cell crane automation.

The Truck mounted segment is accounted for the highest market share

In 2021, the segment for truck-mounted cranes had the biggest volume share. The segment's expansion is anticipated to be aided by the increasing demand for mobile machinery in the power & utility, construction, and other sectors and industry verticals. Truck-mounted equipment can make it easier to move items from one location to another and has a large loading capacity. Common applications for these goods include railroad construction, bridge building, and hydropower projects.

The APAC region is accounted for the highest market share

All through the observe period, AsiaPacific is anticipated to preserve the best marketplace proportion, whilst south the United States is predicted to develop at the quickest charge. For instance, Cargotec Company of Finland, through its commercial enterprise branch Hiab, offered the Effer loader cranes commercial enterprise from the CTE group in August 2018. The acquisition of Effer adds to the company's loader crane portfolio and expands its heavy crane offering, which now includes cranes capable of lifting extra than a hundred tonnes. Groups are also implementing business growth strategies so one can extend their global presence. In September 2019, Manitowoc, for instance, opened a new facility inside the Philippines that consists of a warehouse and a workshop with a total region of 2900 m2. In the Philippines, the company’s presence is strengthened by the new plant.

Mobile cranes are massive pieces of system that help within the motion of heavy items around a creation website online. They are both tires mounted and crawler mounted for smooth transportation via both tough and easy terrains. Mobile cranes can also self-erect, making them perfect for use in congested metropolitan areas and production web sites.

From 2022 to 2029, the Mobile Crane Market is predicted to increase at a CAGR of 6.0 percent, reaching $17,955.8 million in 2029, up from $14,060.1 million in 2022. The primary advantage of mobile cranes is their small size and ease of use on small construction sites, particularly in urban areas. Mobile cranes require less on-site space than tower cranes while performing the same functions. However, it maximizes your workspace while you work. In addition, there is no need to assemble a mobile crane at every job site, saving time and effort. These factors all help to drive the mobile crane market forward. PPPs have proven to be a successful strategy for bringing private capital into infrastructure development in many countries.

Infrastructure improvement, specifically in growing countries, is a key driving force of speedy urbanisation. The infrastructure industry is a key user of mobile cranes, and as infrastructure grows as a result of a greater focus on public private partnerships, demand for mobile cranes rises, propelling the market forward. In the mobile cranes industry, the importance of aftermarket support cannot be overstated. To extend the life of cranes and increase consumer confidence in the company, Manitowoc, Liebherr, and other major players in the market are focusing on providing real-time diagnostics and repair, parts and training, and other services. As a result, the Mobile Crane Market is expected to rise due to an increased focus on aftermarket and service industries.
Static cranes, on the other hand, are used in the construction of Highrise buildings due to their large lifting capacities. Unlike mobile cranes, these cranes are platform mounted and have a longer boom and greater overall stability. Mobile cranes have limited boom length due to their small size. As a result, you have to move the entire work area and make adjustments in each position. As a result, the growth of the global mobile crane market is limited due to limited lifting capacity and reach of mobile cranes.

One of the predominant marketplace players referred to inside the record is Altec, Inc., Cargotec corporation, Liebherr International AG, SANY worldwide, Tadano, Inc., Manitowoc company, Inc., Terex organisation, XCMG, Zoom lion Heavy enterprise science & technology Co., Ltd., and Kobelco production system Co., Ltd.

Major Developments and Innovation in Mobile Crane Market: a Snapshot

• Zoom lion has opened a mobile crane plant in Mantua, Italy, to improve customer service and as part of the company's global expansion. As a result of this growth, the company hopes to strengthen its presence in Europe and around the world.
• At Bauma China, Zoom lion Heavy Industry exhibited mobile cranes including rough terrain cranes, crawler cranes and truck cranes. As a end result, the organisation was able to exhibit its products to potential clients at events.

• Completing the Liebherr family of new LTM 11204 cranes with a lifting capacity of 120 tonnes, the new Liebherr LTM 11505.3 wheeled mobile telescopic crane has a lifting capacity of 150 tonnes.
• Due to increasing urbanization in Asian countries, Liebherr has delivered 25 new mobile cranes to Korea. This crane is in great demand in Asia, so the company has opened a new training and after-sales service centre.
• XCMG introduces the XCA750 8-axis all-terrain crane with a lifting capacity of 750 metric tons. The crane is equipped with a 7-section 92m main boom and a large hydraulic wind turbine extension designed specifically for wind turbine repair and maintenance.

Mobile Cranes Market Scope

Key Segments of the Mobile Crane market

Product Type Overview, (USD Billion)

• Telescopic Boom
• Wheel mounted
• Lattice Boom
• Truck mounted

End User Overview, (USD Billion)

• • Household
  • Commercial
  • Infrastructure
  • Manufacturing
  • Utilities

Regional Overview, (USD Billion)

• North America
  • US
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Rest of Europe
• MEA
  • Kingdom of Saudi Arabia (KSA)
  • South Africa
  • United Arab Emirates (UAE)
  • Rest of MEA
• APAC
  • Australia and New Zealand (ANZ)
  • Japan
  • China
  • Rest of APAC
• South America
  • Brazil
  • Mexico
  • Rest of South America