A mobile crane is a powerful lifting device which is primarily used in the manufacturing and construction sector. It comprises a cable-controlled crane fixed on a hydraulic-powered crane or rubber-tired carriers or crawlers along with a telescoping boom. The mobile cranes are mainly used for loading, offloading, trans-loading, and moving numerous sensitive and valuable heavy materials securely and carefully. Initially, the mobile cranes were being used for mobile handling however, with some advancements and developments they are now being used for maintenance work across several industries.
Rising demand for the cranes across developing regions is driving the demand of mobile cranes. Its numerous applications across construction, mining, industrial, marine & offshore, and other segments have also significantly enhanced its demand over the past years. Moreover, growing rental market is also fueling the market demand globally.
The Mobile Crane market is expected to grow at a CAGR of 4% over the forecast timeframe. The market is experiencing low traction in recent years as there are new players that emerged in the global market that are renting mobile cranes and providing services to the end-users. In addition, the market is expected to experience less growth in the next couple of years on the grounds of current Coronavirus disease (COVID-19) pandemic. Due to the outbreak of this disease majority of construction works have been completely shut down.
Key segments across Mobile Crane market
- Crane Type Overview, 2018-2025, (USD Million)
- All terrain
- Truck mounted
- Rough terrain
- Application Industry Overview, 2018-2025, (USD Million)
- Marine & offshore
- Regional Overview, 2018-2025, (USD Million)
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia-Pacific
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
- North America
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global Mobile Crane industry. Benchmark yourself against the rest of the market.
- Be prepared for how investments across chemical and material industry will be impacted by socio-political and economic factors over the next few years
- Ensure you remain competitive as new innovations by existing key players boost the market.
What does the report include?
- The study on global Mobile Crane includes qualitative factors such as drivers, restraints, and opportunities.
- The study covers the competitive landscape of existing/prospective players in the industry and their strategic initiatives for the product development
- The study covers a qualitative and quantitative analysis of the market segmented on the basis of carne type, and application. Moreover, the study provides similar information for the key geographies.
- Actual market sizes and forecasts have been provided for all the above-mentioned segments.
Who should buy this report?
This study is suitable for industry participants and stakeholders in the global Mobile Crane industry. The report will benefit:
- Every stakeholder involved in manufacturing and distributing components or solutions.
- Managers within financial institutions looking to publish recent and forecasted statistics pertaining to the global Mobile Crane industry.
- Government organizations, regulatory authorities, policymakers, and financial organizations looking for T&D investment trends in the global Mobile Crane industry.
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies.
The mobile crane market is a consolidated industry due to the high cost associated with the manufacturing of crane and further, requires high proficiency and economies of scale to sustain, which in turn has limited established players across the globe. Furthermore, the mobile crane market has huge opportunities in developing countries such as China, India, ASEAN countries, and a few countries in the Middle East & Africa. The Asia-Pacific region is dominating the market as with the presence of major market players such as Kobelco Construction Machinery Co., Tadano, Sumitomo Heavy Industries, and others. Also, due to the growing urbanization, the construction market is experiencing major traction in this region which in turn driving the demand for mobile cranes.
However, the market has several restraints as there is limited availability of skilled laborers. Also, the stringent regulations across the cranes' industries are also hampering the market growth. The mobile cranes are costly hence; the need for cost-effective equipment provides a major opportunity for market growth.
Crane Type Segment
On the basis of the application segment, the market is categorized into all terrain, truck mounted, sidelifter, rough terrain, and others. The all-terrain segment is analyzed to hold a significant share across the segment in 2018 and truck mounted t is projected to observe a substantial CAGR in the coming years. Strong lifting capacity, high speed mobility, durability, along with versatility and agility to operate in extreme conditions are some of the prime features offered by the all-terrain cranes, which in turn is driving the industry size.
Mobile Crane market is segmented into construction, mining, marine & offshore, industrial, and others on the basis of application. In 2018, construction accounted for a considerable contributor in revenue and industrial segment is anticipated to witness extensive growth over the forecast timeline.
In 2018, Asia Pacific is accounted to hold a major share across the regions and a similar trend is anticipated to follow over the forecast timeframe. Positive economic outlook owing to rising population index and growing disposable income is leading to the attraction of foreign direct investment (FDI) across the region. As a result, the region is witnessing significant investment toward the development of residential & commercial complexes, public infrastructure such as rail, road, water, airways network, requiring efficient handling of bulk materials, in turn, is escalating the product adoption.
The leading players operating across the global Mobile Crane market include Liebherr, Tadano, Terex, Manitowoc, SANY GROUP, Kobelco Construction Machinery Co., Sumitomo Heavy Industries, XCMG Group, and Zooomlion, including others. The market for Mobile Crane is consolidated with established global players. Moreover, the industry players are targeting toward enhancing their market share through implementation of merger & acquisition, collaborations growth strategies.