Global Mobile Crane Market

Global Mobile Crane Market Size, Share, Growth Analysis, By Type(Truck Crane, All Terrain Crane), By Application(Construction, Oil & Gas), By Boom Type(Lattice Boom, Telescopic Boom), By Carrier Type(Wheel mounted, Track mounted) - Industry Forecast 2022-2028


Report ID: SQSG25C2004 | Region: Global | Published Date: November, 2022 | Pages: 165

Global Mobile Crane Market Insights

Global Mobile Crane Market Size was valued at USD 15.72 Billion in 2021, and it is expected to reach a value of USD 23.92 Billion by 2028, at a CAGR of 6.18% over the forecast period (2022 - 2028).

The increase in infrastructure investments and revenue growth in the mining sector globally is expected to drive demand for mobile cranes during the forecast period. Furthermore, the increased preference of construction and heavy equipment companies for rental or lease services, as well as a preference for used equipment for their operations, is bound to stymie new equipment-producing OEMs. Due to increased urbanization and export/import facilities, this market is seeing increased investment in the construction, power utilities, and shipbuilding sectors. Moreover, the introduction of industrial IoT, SCADA, AI, and machine learning technologies is increasing market opportunities for key players. These emerging technologies provide simple to use services with appropriate navigation and decision-making abilities.

Market snapshot

Global Market Size

USD 15.72 Billion

Largest Segment

Construction

Fastest Growth

Construction

Growth Rate

6.18% CAGR

Global Mobile Crane Market, 2021-2028 ($ Bn)
Country Share for Asia Pacific Region- 2021 (%)
Global Mobile Crane Market Size By Application, 2021-2028 ($ Bn)
Global Mobile Crane Market Size By Application, 2021-2028 (%)

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Global Mobile Crane Market Segmental Analysis

The global mobile crane market is segmented on the basis of type, application and region. Based on type, the market is segmented into Truck Crane, All Terrain Crane, Rough Terrain Crane, Crawler Crane and Others.  Based on application, the market is segmented into Construction, Oil & Gas, Ship Building, Power & Utilities and Others. Based on region, the global market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.

Analysis by Type

The truck crane market is expected to grow at an exponential rate due to increased demand for mobile machinery in construction, power utility, and many other industries. Truck cranes are equipped with fixed telescopic booms that extend over the truck and provide a variety of engineering and construction services. Moreover, the all-terrain crane and rough terrain crane segments are exhibiting progressive growth as a result of increased demand for construction machinery in rough terrain construction projects. These cranes are mainly used in the heavy engineering and construction, shipbuilding, and power and energy utility industries.

Analysis by Application

Construction applications are expected to grow at a faster rate as a result of increasing urbanization, which will create a huge demand for infrastructure, contributing to the growth of the mobile crane market. The governments of the majority of developing countries have consistently emphasized the importance of addressing the nation's infrastructure deficit in order to improve quality of life and strengthen economic competitiveness, thereby increasing market potential. Moreover, the application of oil and gas is expected to grow gradually due to advancements in machinery and their applications, which are further attributed to advanced technological implementations. As a result, the refineries can operate more easily and efficiently. Shipbuilding applications are expected to grow moderately due to ongoing port construction projects, resulting in moderate usage and demand globally.

Global Mobile Crane Market By Application, 2021(%)

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Global Mobile Crane Market Regional Insights

The Asia Pacific has the largest mobile crane market share and is expected to grow the fastest globally. The rising adoption of advanced technology-based machinery integrated with high-end applications is boosting market potential overall. China is expected to have the largest share as a result of numerous emerging market players producing technology-driven cranes for a variety of mobile crane industry-based applications. Because of increased investments in the power and energy, construction, and shipbuilding sectors, the North American market is expected to grow at a steady pace. The United States is expected to dominate the market because the government is investing in developing the country's infrastructure, which includes several eco-friendly proposals that do not jeopardize the environmental balance.

Global Mobile Crane Market By Geography, 2021-2028
  • Largest
  • Fastest

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Global Mobile Crane Market Dynamics

Driver

  • Increased demand for renewable energy sources, such as windmill energy, is another area where the mobile crane market could benefit. Because of their small size, it can operate in congested construction areas. Rough terrain cranes with high torque and offroad navigating capabilities are in high demand in the construction and mining industries due to the operational benefits and efficiency they provide.
  • The government and private sectors across the globe are making large investments in the construction of new residential & commercial buildings and public infrastructure, thus supporting the growth of the construction industry.

Restraint

  • The majority of injuries, fatalities, and accidents on the job site are the result of a lack of training. Because these cranes may come into contact with electric lines by accident, it is critical to obtain clearances from the electrical lines as well as verified sources such as government electrical safety orders. Unawareness of load indicating devices limits technological advancements, leading to an increase in accidents caused by falling loads, and thus restrains the global mobile crane market growth.

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Global Mobile Crane Market Competitive Landscape

The Mobile Crane market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Konecranes, Liebherr, Tadano, Terex, Zoomlion, Ingersoll Rand, Palfinger, Columbus McKinnon, Kito, Kobelco, Sumitomo Heavy Industries, and ABUS Kransysteme among others.

Top Player’s Company Profiles

  • Konecranes (Finland)
  • Liebherr (Germany)
  • Tadano (Japan)
  • Terex (US)
  • Zoomlion (China)
  • Ingersoll Rand (US)
  • Palfinger (Austria)
  • Columbus McKinnon (US)
  • Kito (Japan)
  • Kobelco (Japan)
  • Sumitomo Heavy Industries (Japan)
  • ABUS Kransysteme (Germany)
  • XCMG (China)
  • Mammoet (The Netherlands)
  • Kato Works (Japan)
  • Altec Industries (US)
  • Verlinde (France)
  • Shanghai Yiying Crane Machinery (China)
  • Nucleon Crane Group (China)
  • Cheng Day Machinery Works (Taiwan)
  • Liugong Machinery (China)

Recent Developments

  • In May 2022, Sany unveiled cutting-edge items at EXCON. Sany's involvement in this huge event set a new precedent with the introduction of 22 new goods. All of the new equipment have been specifically built for the Indian market, with Indian client requirements in mind.
  • In March 2022, Zoomlion's mobile crane business released Truck-mounted Crane. The truck-mounted crane business combines Zoomlion's experience and innovation in the field of mobile cranes in research and development, manufacturing and service.
  • In May 2021, Zoomlion has opened a production facility in Mantova, Italy, in order to better serve customers and as part of the company's global expansion. With this expansion, the company hopes to strengthen its foothold in Europe and its overall global presence.
  • In March 2021, Liebherr introduced the MK 73-3.1 mobile construction crane, the smallest in Liebherr's mobile construction crane family, which joins the MK 88-4.1 and MK 140 crane series. The compact 3-axle crane is the market's response to the demand for a small, compact, and agile mobile construction crane that is quick and flexible in operation.

Global Mobile Crane Key Market Trends

  • The rise of SCADA-connected devices and industrial IoT is helping to build a positive image for advanced cranes around the world. The Industrial Internet of Things (IoT) takes existing technologies like big data and artificial intelligence to the next level, allowing businesses to provide value-added services to their customers. These cranes are outfitted with a variety of sensors and probes that help the crane operator gather relevant data in order to better understand, control, and guide the machine, thereby boosting the global market growth.
  • The China-led Belt and Road Initiative, which aims to build roads, railways, ports, and energy projects stretching from China's western regions to Europe, is one of the major growth drivers for the market. Cranes and other construction equipment are expected to be in rising demand as a result of the Belt and Road Initiative projects. Furthermore, with the United States Mining Association deciding to invest in domestic raw material production, the thriving mining industry in North America is expected to create enormous opportunities for the mobile crane market.

Global Mobile Crane Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.

According to our analysis, South-East Asia's strong economic growth is fueling the growth of the e-commerce and retail markets. The logistics sector in South-East Asia is dominated by third-party logistics service providers. With the region's overall economic growth, 3PL companies are investing in the manufacturing of cranes to meet the demands in docks and warehouses. The major players have increased their R&D spending exponentially in order to integrate innovation with performance excellence.

Report Metric Details
Market size value in 2021 USD 15.72 Billion
Market size value in 2028 USD 23.92 Billion
Growth Rate 6.18%
Base year 2021
Forecast period 2022 - 2028
Forecast Unit (Value) USD Billion
Segments covered
  • Type
    • Truck Crane, All Terrain Crane, Rough Terrain Crane, Crawler Crane, Others
  • Application
    • Construction, Oil & Gas, Ship Building, Power & Utilities, Others
  • Boom Type
    • Lattice Boom, Telescopic Boom
  • Carrier Type
    • Wheel mounted, Track mounted
Regions covered North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)
Companies covered
  • Konecranes (Finland)
  • Liebherr (Germany)
  • Tadano (Japan)
  • Terex (US)
  • Zoomlion (China)
  • Ingersoll Rand (US)
  • Palfinger (Austria)
  • Columbus McKinnon (US)
  • Kito (Japan)
  • Kobelco (Japan)
  • Sumitomo Heavy Industries (Japan)
  • ABUS Kransysteme (Germany)
  • XCMG (China)
  • Mammoet (The Netherlands)
  • Kato Works (Japan)
  • Altec Industries (US)
  • Verlinde (France)
  • Shanghai Yiying Crane Machinery (China)
  • Nucleon Crane Group (China)
  • Cheng Day Machinery Works (Taiwan)
  • Liugong Machinery (China)
Customization scope

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  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Global Mobile Crane Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Global Mobile Crane Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the Global Mobile Crane Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:

1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.

2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Mobile Crane Market.

3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.

4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Mobile Crane Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Global Mobile Crane Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQ's

Global Mobile Crane Market Size was valued at USD 15.72 Billion in 2021, and it is expected to reach a value of USD 23.92 Billion by 2028, at a CAGR of 6.18% over the forecast period (2022 - 2028).

The Mobile Crane market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Konecranes, Liebherr, Tadano, Terex, Zoomlion, Ingersoll Rand, Palfinger, Columbus McKinnon, Kito, Kobelco, Sumitomo Heavy Industries, and ABUS Kransysteme among others.'Konecranes (Finland)','Liebherr (Germany)','Tadano (Japan)','Terex (US)','Zoomlion (China)','Ingersoll Rand (US)','Palfinger (Austria)','Columbus McKinnon (US)','Kito (Japan)','Kobelco (Japan)','Sumitomo Heavy Industries (Japan)','ABUS Kransysteme (Germany)','XCMG (China)','Mammoet (The Netherlands)','Kato Works (Japan)','Altec Industries (US)','Verlinde (France)','Shanghai Yiying Crane Machinery (China)','Nucleon Crane Group (China)','Cheng Day Machinery Works (Taiwan)','Liugong Machinery (China)'

Increased demand for renewable energy sources, such as windmill energy, is another area where the mobile crane market could benefit. Because of their small size, it can operate in congested construction areas. Rough terrain cranes with high torque and offroad navigating capabilities are in high demand in the construction and mining industries due to the operational benefits and efficiency they provide.

The rise of SCADA-connected devices and industrial IoT is helping to build a positive image for advanced cranes around the world. The Industrial Internet of Things (IoT) takes existing technologies like big data and artificial intelligence to the next level, allowing businesses to provide value-added services to their customers. These cranes are outfitted with a variety of sensors and probes that help the crane operator gather relevant data in order to better understand, control, and guide the machine, thereby boosting the global market growth.

The Asia Pacific has the largest mobile crane market share and is expected to grow the fastest globally. The rising adoption of advanced technology-based machinery integrated with high-end applications is boosting market potential overall. China is expected to have the largest share as a result of numerous emerging market players producing technology-driven cranes for a variety of mobile crane industry-based applications. Because of increased investments in the power and energy, construction, and shipbuilding sectors, the North American market is expected to grow at a steady pace. The United States is expected to dominate the market because the government is investing in developing the country's infrastructure, which includes several eco-friendly proposals that do not jeopardize the environmental balance.

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Global Mobile Crane Market

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