DUBLIN--(BUSINESS WIRE)--The "Mobile Crane Market By Boom Type, By Carrier Type, By Terrain Type, By End User Industry: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
The global mobile crane market was valued at $14,357.7 million in 2021, and is projected to reach $24,507.5 million by 2031, registering a CAGR of 5.3% from 2022 to 2031.
Mobile cranes are designed for lifting heavy objects on construction, manufacturing, and other sites. Mobile cranes have self erection abilities, which make them suitable for use in compact urban spaces and construction sites. In addition, mobile cranes can be remotely operated, which reduces the risk of accidents and fatalities caused due to collapsing of weight. Moreover, mobile cranes typically have hydraulic telescopic booms or lattice booms and can be further attached with hook or other load handling devices.
The infrastructure industry is witnessing growth in developing countries, including India, China, Brazil, Vietnam, and others. In addition, the residential and commercial building construction sector is also witnessing a significant rise in these countries, with high potential of further growth. The tight fiscal budgets and lack of government funding have been overcome by increase in focus on public-private partnerships (PPPs). PPPs have been implemented in various countries, such as South Korea, India, and others.
The boost in PPPs and surge in investments through private channels can assist to boost the infrastructure industry; thereby, driving the growth of the mobile crane market. Moreover, increase in focus on aftermarket and services industry is expected to assist in driving the mobile crane market growth. Many players in the market aim at developing their aftersales service capabilities to gain consumer trust and lead the market.
Furthermore, mobility feature of mobile cranes boosts their demand over static cranes. This further boosts the demand for mobile cranes; hence, driving the growth of the market. However, weight limitations and lower reach than static and tower cranes restrain the mobile crane market growth significantly. Due to the compact size restrictions, mobile cranes have limited capabilities, which hinders the market growth.
Technological developments in mobile cranes, such as remote access, load identification and management, and other similar features are anticipated to create opportunities for the growth of the mobile crane market during the forecast period.
Key Benefits
- The report provides an extensive analysis of the current and emerging mobile cranes market trends and dynamics.
- In-depth market analysis is conducted by constructing market estimations for the key market segments between 2021 and 2031.
- Extensive analysis of the mobile crane market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive analysis of all regions is provided to determine the prevailing opportunities.
- The global mobile crane market forecast analysis from 2021 to 2031 is included in the report.
- The key market players within mobile crane market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the mobile cranes industry.
Key Market Segments
By Terrain Type
- On road
- Rough terrain
- All terrain
By End User Industry
- Construction
- Manufacturing
- Utilities
By Boom Type
- Lattice Boom
- Telescopic Boom
By Carrier Type
- Wheel mounted
- Track mounted
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- United Kingdom
- France
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Altec, Inc.
- cargotec corporation
- Kobelco Construction Machinery Co., Ltd.
- Liebherr-International AG
- Manitowoc Company, Inc.
- SANY Heavy Industry Co. Ltd.
- Tadano Ltd.
- Terex Corporation
- Xuzhou Construction Machinery Group Co., Ltd.
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
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