Rising demand for various mineral and energy resources, coupled with ongoing development across numerous industries, ports and sustainable energy sectors will stimulate the global Mobile Crane industry
The global Mobile Crane market size is anticipated to reach over USD 14 billion by 2025. The cranes are powerful and huge lifting equipment that can lift hefty weights up to a few hundred tons. These materials handling equipment can be used and deployed across numerous applications such as mining, power projects, hydro projects, in building constructions, aircraft, and automotive manufacturing. The mobile cranes can also be mounted on trucks or similar type of carriers depending upon customer specifications.
Globally the construction activities such as residential, non-residential, building, and engineering construction are experiencing huge growth. However, the demand for cranes in developing regions such as Asia-Pacific and Middle East & Africa is rising due to the increasing government initiatives and spending on the development of public infrastructures such as roads, railways, metros, flyovers, airports, and others.
The report also throws light on various aspects of the global Mobile Crane industry by assessing the market using value chain analysis. The report covers several qualitative aspects of the Mobile Crane industry in market drivers, market restraints and key industry trends. Furthermore, the report provides an in-depth assessment of the market competition with company profiles of global as well as local vendors.
The global Mobile Crane market holds a strong competition among the well-established and new emerging players. These market players target to gain a competitive advantage over the other players by participating in partnerships, mergers, and acquisitions and expanding their businesses.
The Mobile Crane market is categorized into construction, mining, marine & offshore, industrial, and others on the basis of application. The construction segment is analyzed to grow at a CAGR of over 4% in the coming years. The growth of this segment is primarily contributed to its utilization for equipment transportation, hoisting high–rise building and bridge materials to designated heights, tilt-up construction jobs, and roofing work, which in turn is poised to catapult the segment growth.
North America is anticipated to gain a significant share over the forecast timeline owing The rising demand for the heavy machinery owing to continuous investment across the construction industry has upheld the demand for numerous mobile cranes. The government across the region is shifting their focus toward the development of sustainable and environmentally friendly infrastructure. The ongoing establishment of roads, buildings, along with rising demand for refurbishment of the various aging architecture establishment is boosting the mobile crane demand.
The leading players operating across the global Mobile Crane market include Tadano, Liebherr, Manitowoc, Terex, Kobelco Construction Machinery Co., SANY GROUP, XCMG Group, Zooomlion, and Sumitomo Heavy Industries, including others. These companies are focusing toward expanding their market penetration through adoption of inorganic growth strategies.
Segment overview of 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