What is the global market size of Mobile Crane Market?

Global Mobile Crane 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 5.8% in the forecast period (2023-2030).

Global Mobile Crane Market Size, Share, Growth Analysis, By Type(Truck Crane, All Terrain Crane), By Application(Construction, Oil & Gas), By Boom Type(Lattice Boom, Telescopic Boom), By Carrier Type(Wheel mounted, Track mounted) - Industry Forecast 2024-2031

Report ID: SQSG25C2004 | Region: Global | Published Date: April, 2024
Pages: 165 | Tables: 119 | Figures: 77

Global Mobile Crane Market Insights

Global Mobile Crane Market size was valued at USD 9.56 billion in 2019 and is poised to grow from USD 10.12 billion in 2023 to USD 15.02 billion by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).

The increase in infrastructure investments and revenue growth in the mining sector globally is expected to drive demand for mobile cranes during the forecast period. Furthermore, the increased preference of construction and heavy equipment companies for rental or lease services, as well as a preference for used equipment for their operations, is bound to stymie new equipment-producing OEMs. Due to increased urbanization and export/import facilities, this market is seeing increased investment in the construction, power utilities, and shipbuilding sectors. Moreover, the introduction of industrial IoT, SCADA, AI, and machine learning technologies is increasing market opportunities for key players. These emerging technologies provide simple to use services with appropriate navigation and decision-making abilities.

US Mobile Crane Market is poised to grow at a sustainable CAGR for the next forecast year.

Global Mobile Crane Market Report Snapshots

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The Mobile Crane market is highly competitive, with the existence of numerous major firms operating in both domestic and international markets. The industry's top players are embracing strategic collaboration initiatives to improve market share and profitability. Some of the major players in the market are Konecranes, Liebherr, Tadano, Terex, Zoomlion, Ingersoll Rand, Palfinger, Columbus McKinnon, Kito, Kobelco, Sumitomo Heavy Industries, and ABUS Kransysteme among others. 'Terex Corporation', 'Liebherr Group', 'Tadano Ltd.', 'Manitowoc Company, Inc.', 'Konecranes Plc.', 'XCMG Group', 'Sany Group', 'Zoomlion Heavy Industry Science and Technology Co., Ltd.', 'Kobelco Construction Machinery Co., Ltd.', 'Link-Belt Cranes', 'Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.', 'Grove Worldwide (a subsidiary of Manitowoc Company, Inc.)', 'Palfinger AG', 'SENNEBOGEN Maschinenfabrik GmbH', 'Fassi Gru S.p.A.', 'Hyundai Heavy Industries Co., Ltd.', 'Demag Cranes & Components GmbH', 'Elliott Equipment Company', 'FURUKAWA UNIC CORPORATION', 'Guay Inc.'

Increased demand for renewable energy sources, such as windmill energy, is another area where the mobile crane market could benefit. Because of their small size, it can operate in congested construction areas. Rough terrain cranes with high torque and offroad navigating capabilities are in high demand in the construction and mining industries due to the operational benefits and efficiency they provide.

The rise of SCADA-connected devices and industrial IoT is helping to build a positive image for advanced cranes around the world. The Industrial Internet of Things (IoT) takes existing technologies like big data and artificial intelligence to the next level, allowing businesses to provide value-added services to their customers. These cranes are outfitted with a variety of sensors and probes that help the crane operator gather relevant data in order to better understand, control, and guide the machine, thereby boosting the global market growth.

The Asia Pacific has the largest mobile crane market share and is expected to grow the fastest globally. The rising adoption of advanced technology-based machinery integrated with high-end applications is boosting market potential overall. China is expected to have the largest share as a result of numerous emerging market players producing technology-driven cranes for a variety of mobile crane industry-based applications. Because of increased investments in the power and energy, construction, and shipbuilding sectors, the North American market is expected to grow at a steady pace. The United States is expected to dominate the market because the government is investing in developing the country's infrastructure, which includes several eco-friendly proposals that do not jeopardize the environmental balance.

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Global Mobile Crane Market Size, Share, Growth Analysis, By Type(Truck Crane, All Terrain Crane), By Application(Construction, Oil & Gas), By Boom Type(Lattice Boom, Telescopic Boom), By Carrier Type(Wheel mounted, Track mounted) - Industry Forecast 2024-2031

Global Mobile Crane Market Insights

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