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

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).

The 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 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. '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)'

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.

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.

The 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 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.