USD 9.56 billion
Mobile Cranes Market Size, Share, Growth Analysis, By Product type(Tests Truck Mounted Crane, Trailer Mounted Crane, and Crawler Crane), By Application(Construction, Industrial, and Utility), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15F2112 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
63
|Figures:
70
Mobile Cranes Market Insights
Mobile Cranes 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 5.80% in the forecast period (2023-2030).
Advancements in crane technology, such as telematics and safety features, are contributing to the growth of the global mobile cranes market. The mobile cranes market is a dynamic and growing sector in the construction and heavy equipment industry. Mobile cranes are equipped with wheels or tracks, allowing them to be easily transported to different job sites. Key factors driving the mobile cranes market include increased infrastructure development projects, rapid urbanization, and the expansion of industrial activities. The demand for mobile cranes is also fueled by the growth in the energy sector, including renewable energy projects and oil and gas exploration. Additionally, the rising focus on reducing emissions and improving fuel efficiency has led to the development of eco-friendly mobile cranes powered by electric or hybrid systems. With ongoing technological advancements and increasing adoption of smart and automated systems, the mobile cranes market is expected to continue its growth trajectory in the coming years.
US Mobile Cranes Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2023-2030
Global Market Size
Largest Segment
Truck Mounted Crane
Fastest Growth
Truck Mounted Crane
Growth Rate
5.80% CAGR
Global Mobile Cranes Market ($ Bn)
Country Share for Middle Asia Pacific Region (%)
To get more reports on the above market click here to Buy The Report
Mobile Cranes Market Segmental Analysis
The global mobile cranes market is segmented on the basis of Product type, Application, and region. By Product type, the market is segmented into Truck Mounted Crane, Trailer Mounted Crane, Crawler Crane. By Application, the market is segmented into Construction, Industrial, and Utility. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Mobile Cranes Market Analysis By Product type
The truck mounted crane is the dominant segment. These cranes are widely preferred due to their mobility and versatility. They can be easily transported to different job sites, making them highly efficient for various construction and material handling tasks.
On the other hand, the fastest-growing segment in the mobile cranes market is crawler cranes. Crawler cranes are equipped with tracks or crawlers instead of wheels, allowing them to navigate rough terrains and challenging environments. Their ability to provide stable lifting capabilities on uneven surfaces and at greater heights has led to their increasing demand in construction and infrastructure projects.
Mobile Cranes Market Analysis By Application
The mobile cranes market is utilized across various industries for a multitude of applications. Among these, construction is the most dominant segment, accounting for a significant share of the market. Mobile cranes play a crucial role in construction projects, offering flexibility and mobility to lift and move heavy materials and equipment on construction sites. The construction industry's continuous growth and demand for infrastructure development contribute to the dominance of mobile cranes in this application.
On the other hand, the fastest-growing segment in the Mobile Cranes market is the utility sector. The increasing demand for maintenance and repair activities in utilities such as power plants, transmission lines, and telecommunication towers requires versatile and efficient lifting equipment, which mobile cranes can provide. Moreover, the ongoing expansion and development of utility infrastructure globally are driving the demand for mobile cranes in this sector.
Global Mobile Cranes Market By Product Type
To get detailed analysis on other segments, Request For Free Sample Report
Mobile Cranes Market Regional Insights
The global mobile cranes market is analyzed based on its regional presence, which includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America. The Asia-Pacific region is the dominant market for mobile cranes, accounting for the largest share of the global market. The rapid industrialization and infrastructural development in countries like China and India are major factors driving the demand for mobile cranes in this region. Additionally, the growth of the construction, mining, and energy sectors in Asia-Pacific contributes to the increased adoption of mobile cranes.
On the other hand, the Middle East and Africa region represent the fastest-growing segment in the mobile cranes market. The region is experiencing substantial growth due to large-scale construction projects, particularly in countries like Saudi Arabia, UAE, and South Africa. The expanding infrastructure, urbanization, and growing oil and gas industry are significant drivers of mobile crane demand in the Middle East and Africa. Additionally, increasing investments in renewable energy projects further boost the growth of the mobile crane market in this region.
Global Mobile Cranes Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Mobile Cranes Market Dynamics
Mobile Cranes Market Drivers
Infrastructure Development:
- The mobile cranes market is driven by the increasing demand for infrastructure development projects worldwide. Rapid urbanization, population growth, and the need for modernized transportation networks have led to the construction of new buildings, roads, bridges, and other infrastructure, boosting the demand for mobile cranes for material handling and construction purposes.
Renewable Energy Projects:
- The shift towards renewable energy sources, such as wind and solar power, has spurred the installation of large turbines and solar panels. Mobile cranes play a crucial role in assembling and maintaining these renewable energy projects, driving the market as countries strive to achieve their sustainability goals.
Mobile Cranes Market Restraints
High Initial Investment:
- Mobile cranes are capital-intensive equipment, and their purchase and maintenance require significant upfront investment. The high initial cost can be a deterrent for small and medium-sized construction companies, limiting market growth in certain regions.
Safety and Regulatory Concerns:
- Operating mobile cranes involves inherent risks, and safety standards and regulations vary across different countries and regions. Stringent safety norms and compliance requirements can pose challenges for crane operators and owners, affecting market expansion. Additionally, accidents or mishaps involving cranes can lead to legal liabilities and reputational damage, impacting market growth.
Request Free Customization of this report to help us to meet your business objectives.
Mobile Cranes Market Competitive Landscape
The global mobile cranes market exhibits a highly competitive landscape with several companies vying for market share. Key players in the industry offer a wide range of mobile crane products and services, catering to diverse customer needs. Innovation and technological advancements play a crucial role in gaining a competitive edge. Market participants focus on expanding their global presence, forming strategic partnerships, and investing in research and development. Additionally, factors like product reliability, safety features, and after-sales support are essential in gaining a competitive advantage. The market's dynamic nature and the continuous pursuit of customer satisfaction create a challenging yet vibrant competitive environment.
Mobile Cranes Market Top Player’s Company Profile
- Bauer AG – (Germany)
- Kato Works Co., Ltd. – (Japan)
- Kobelco Construction Machinery Co., Ltd. – (Japan)
- Liebherr-International AG – (Switzerland)
- LiuGong Machinery Co., Ltd. – (China)
- Manitex International – (US)
- Manitowoc - (US)
- Palfinger AG – (Austria)
- Sany Heavy Industry Co., Ltd. – (China)
- Sarens n.v./s.a. – (Belgium)
- Sumitomo Heavy Industries, Ltd. – (Japan)
- Tadano Ltd. – (Japan)
- Terex Corporation - (US)
- XCMG Group – (China)
- Zoomlion Heavy Industry Science & Technology Co., Ltd. – (China)
Mobile Cranes Market Recent Developments
- In June 2022, Liebherr announced the launch of its new LR 13000 mobile crane. The LR 13000 is the world's largest mobile crane, and it is capable of lifting loads of up to 1,300 tons.
- In July 2022, Tadano announced the launch of its new AC 5000-1 EG hybrid mobile crane. The AC 5000-1 EG is a hybrid mobile crane that uses both electric and diesel power.
- In August 2022, Zoomlion announced the launch of its new ZTC8000 electric mobile crane. The ZTC8000 is an electric mobile crane that is capable of lifting loads of up to 800 tons.
Mobile Cranes Key Market Trends
Technological Advancements:
- The mobile crane industry is experiencing a significant trend towards technological advancements. Manufacturers are continuously innovating and integrating advanced technologies into mobile crane designs. This includes the incorporation of smart features, telematics, remote monitoring, and automation, which enhance crane efficiency, safety, and ease of operation. Telematics, for instance, enable real-time monitoring of crane performance and condition, facilitating predictive maintenance and minimizing downtime. These technological advancements are attracting customers seeking modern and high-performing mobile crane solutions.
Growing Demand for Eco-friendly Solutions:
- Environmental concerns and regulations are driving the demand for eco-friendly mobile cranes. There is a notable shift towards electric and hybrid mobile cranes, which offer reduced emissions and lower operating costs compared to traditional diesel-powered cranes. Construction companies and industries are increasingly opting for greener alternatives to align with sustainability goals and reduce their carbon footprint. The market is witnessing a rising interest in electric-powered mobile cranes, particularly for urban and sensitive areas where noise and air pollution are major concerns. As a result, mobile crane manufacturers are focusing on developing more environmentally friendly and energy-efficient crane models to cater to this growing demand.
Mobile Cranes Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Component types team that Collects, Collates, Correlates, and Analyzes the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to our global mobile cranes market analysis, the market is experiencing substantial growth due to increased demand from various industries, including construction, infrastructure development, and manufacturing. Mobile cranes offer versatility, efficiency, and mobility, making them essential for lifting and moving heavy loads in different job sites. The growing number of construction projects and infrastructure development activities across the globe are major drivers for market expansion. Additionally, advancements in technology, such as telematics and automation, are enhancing crane efficiency and safety, further boosting market growth. Moreover, the rising trend of rental services for mobile cranes is providing lucrative opportunities for market players. However, challenges related to high initial investment costs and strict regulations in some regions may hinder the market's growth. Overall, the mobile cranes market is poised for continued expansion in the foreseeable future.
| Report Metric | Details |
|---|---|
| Market size value in 2021 | USD 9.56 billion |
| Market size value in 2030 | USD 15.02 billion |
| Growth Rate | 5.80% |
| Base year | 2023 |
| Forecast period | 2023-2030 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| 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 |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
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 Mobile Cranes 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
- Exhibit: Impact analysis of DROC, 2021
- 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 Mobile Cranes 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
- Exhibit: Impact analysis of DROC, 2021
- 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
- Competitive rivalry
- 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(%)
- Total number of companies covered
Methodology
For the Mobile Cranes 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 Mobile Cranes 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 Mobile Cranes Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Mobile Cranes 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.
USA (+1) 351-333-4748
