Mobile Cranes Market: Current Analysis and Forecast (2022-2028)

Global Mobile Cranes Market is expected to grow at a significant rate of around 6% during the forecast period. A mobile crane helps to move heavy equipment and material from one place to another within the construction site. The continued urbanization and the initiatives by the government towards new projects and upgrading the existing infrastructure are the factors driving the growth of the market. Mobile cranes need less space and are more powerful which tends to increase their need during construction. In addition, companies are working to introduce remotely operated cranes for easy control. For instance, in February 2021, Manitex Valla of Italy, a subsidiary of U.S.-based Manitex International, launched the V110 R electric mobile crane, which is battery-operated and remote-controlled.

Action Construction Equipment Ltd, Fassi Gru S.p.A, KATO WORKS CO., LTD, Kobelco Construction Machinery Co. Ltd, Liebherr-International Deutschland GmbH, The Manitowoc Company Inc, Palfinger AG, Sany Group, Tadano Ltd, Terex Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report:

"Amongst type, crawler crane category to witness robust CAGR during the forecast period"

Based on type, the market is segmented into a truck crane, all-terrain crane, rough terrain crane, crawler crane, and others. The crawler cranes category is to witness a higher CAGR during the forecast period. Crawler crane are highly complex and offer easy accessibility during small construction sites, majorly in urban areas. Moreover, they are used for carrying heavy-lift Mendes which is also driving segmental growth. The key players are launching advanced cranes to maintain a strategic edge in the market. For instance, in 2022, Liebherr announced the launch of LR 12500-1.0 crawler crane in Germany.

"Amongst application, the construction to hold a significant share in the market in 2020"

Based on application, the mobile cranes market has been classified into construction, oil & gas, shipbuilding, power & utilities and others. The construction category is expected to hold a significant share of the market during the forecast period. The rising importance of safe, cost-effective, and speedy material handling activities in construction, the rising urbanization rate and the growing population in construction are driving the growth of the market.

"APAC to hold significant share in the market"

For a better understanding of the market adoption of the Mobile Cranes industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to hold a significant share in the market. The rising adoption of advanced technology-based machinery integrated with high-end applications is promoting the overall market potential. The increasing investment of the government to increase advancement in the infrastructure. The rising purchasing power of people, rapid urbanization, growing population, and government efforts to provide affordable housing are projected to enhance the requirement for mobile cranes.  

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The study includes market sizing and forecasting analysis validated by authenticated key industry experts.

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Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.

The study comprehensively covers the market across different segments.

Deep dive regional level analysis of the industry.

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