What is the global market size of Mobile Crane Market?

Global Mobile Crane Market size was valued at USD 9.56 billion in 2021 and is poised to grow from USD 10.12 billion in 2022 to USD 15.02 billion by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).

Mobile Crane Market Size, Share, Growth Analysis, By Type(Truck Crane, All Terrain Crane, Rough Terrain Crane, Crawler Crane), By Application(Construction, Oil & Gas, Ship Building, Power & Utilities), By Boom Type(Lattice Boom, Telescopic Boom), By Carrier Type(Wheel mounted, Track mounted), By Region - Industry Forecast 2024-2031

Report ID: SQSG25C2004 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 119 | Figures: 77

Mobile Crane Market News

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.

Mobile Crane Market Report Snapshots

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Mobile Crane Market size was valued at USD 9.56 billion in 2019 and is poised to grow from USD 10.12 billion in 2023 to USD 15.02 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

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. 'Terex Corporation', 'Liebherr Group', 'Tadano Ltd.', 'Manitowoc Company, Inc.', 'Konecranes Plc.', 'XCMG Group', 'Sany Group', 'Zoomlion Heavy Industry Science and Technology Co., Ltd.', 'Kobelco Construction Machinery Co., Ltd.', 'Link-Belt Cranes', 'Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.', 'Grove Worldwide (a subsidiary of Manitowoc Company, Inc.)', 'Palfinger AG', 'SENNEBOGEN Maschinenfabrik GmbH', 'Fassi Gru S.p.A.', 'Hyundai Heavy Industries Co., Ltd.', 'Demag Cranes & Components GmbH', 'Elliott Equipment Company', 'FURUKAWA UNIC CORPORATION', 'Guay Inc.'

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 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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