Mobile Crane Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032

Growth Factors of Mobile Crane Market

The mobile crane market size was valued at USD 14.35 billion in 2018, and the market is now projected tgrow USD 33.26 billion in 2032, exhibiting a CAGR of 5.8% during the forecast period of 2019-2032.

The Mobile Crane Market was majorly affected by the COVID-19 outbreak mainly because the restrictions led tcuts and changes in the supply chain networks, project implementations froze and construction halted. There was a changed demand for cranes in the last year because several construction projects were either delayed or put on hold due tthe disruptions caused by the COVID-19 outbreak and related lockdowns as well as economic instability. But as the restrictions were eased and construction began again the demands of the cranes increased in infrastructure and urban development. The ideas of automation and increases in operation efficiency of crane operations alsemerged during the pandemic. In sum, rebounding is anticipated tbe realized across the market with some industries adjusting tconditions of a post COVID-19 world.

The construction industry around the world is benefiting from increasing investments in the construction of residential, commercial, and public structures. Global market is estimated tincrease up tUSD 8 trillion by 2030 with key players in the globe including the U.S.A, China, and India. The global power sector investment in the year 2018 was USD 775 billion out of which China has the highest market growth rate in power utilities sector. Growing number of construction and power utility projects in these areas is boost tthe industry growth. This growth is leading tbig opportunities for the construction industry in mobile crane especially in big projects.

Digital connectivity of SCADA connected devices and the Industrial IoT is influencing the use of better cranes across the world. Using the technologies such as big data and artificial intelligence, IIoT boosts cranes performances, offering definitive control information. Flexible structures composed of cranes that require operators tinstall multiple sensors and probes enable the collection of core data tenhance crane efficiency. The advancement in this technologist is making it easier for operators tmanage and direct the cranes, increase on the productivity as well as the safety. Therefore, the market for advanced cranes has started expanding in the international market rapidly.

Comprehensive Analysis of Mobile Crane Market

The mobile crane market growth is rising at an exponential rate due tits market segmentation. This market expansion rightly presents a detailed local analysis based on the forces such as supply and demand which define the industry. These segmentations are methodically segregated by type analysis, and by application analysis. By type analysis include truck crane, all terrain crane, rough terrain crane, crawler crane, and others. By application analysis include construction, oil and gas, shipbuilding, power utilities, and others.

The Asia Pacific region lead the mobile crane market share by benefitting a market size of 6.27 billion in 2018 due trising adoption of advanced technology-based machinery.

The top players in the markets have a central responsibility in the machinery and equipment industry tbe sure of industrial prospectus development and testablish the market norms. These players include, Manitowoc, TadanLtd., Terex Corporation, Liebherr-International Deutschland GmbH, Zoomlion Heavy Industry Science & Technology Co., Ltd., XCMG Group, KATO WORKS CO., LTD., SANY GROUP, KobelcConstruction Machinery Co., Ltd., PALFINGER AG, SumitomHeavy Industries, Ltd., and Sarens n.v./s.a. these market players provide a level-playing competitive landscape.

In November 2019, Liebherr delivered 25 new mobile cranes tSouth Korea tmeet the growing demand driven by urbanization in Asian countries, and inaugurated a new training and service centre for after-sales services.

Segmentation Table

ATTRIBUTE DETAILS

Study Period - 2015-2026

Base Year - 2018

Forecast Period - 2019-2026

Historical Period - 2015-2017

Unit - Value (USD billion)

Segmentation By Type

• Truck Crane
• All Terrain Crane
• Rough Terrain Crane
• Crawler Crane
• Others (Loader Crane, etc.)

By Application

• Construction
• Oil & Gas
• Ship Building
• Power & Utilities
• Others (Mining, etc.)

By Region

• North America (the U.S. and Canada)
• Europe (U.K., Germany, France, Italy, and the Rest of Europe)
• Asia Pacific (Japan, China, India, and the Rest of Asia Pacific)
• Middle East & Africa (South Africa, GCC and the Rest of Middle East & Africa)
• Latin America (Brazil, Mexico, and the Rest of Latin America)

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