The mobile crane market is projected to grow at a moderate CAGR of 6.7% from 2024 to 2034, with its market value rising from USD 17,679.6 million 2024 to nearly USD 33,500.2 million by 2034.
Suppliers are introducing more advanced varieties of truck cranes, crawler cranes, and other types of cranes as the applications for mobile cranes diversify, driven by growing demand from industries such as ports, transportation, and construction.
The surge in mobile crane sales is also fueled by numerous infrastructure upgrade projects worldwide, including the renovation of existing buildings. In the Asia Pacific region, countries are focusing on boosting their economies by developing public buildings and transport infrastructure. This growth in the real estate sector is expected to provide significant opportunities for OEMs.
According to research, sectors like construction, shipping, and oil & gas recovery were key to mobile crane sales in 2021. Vaccination campaigns and optimism that China and India would avoid a second pandemic wave have improved recovery prospects. However, the pandemic’s economic slowdown means a full recovery will take time, as reflected in feedback from manufacturers and stakeholders.
China Remains a Key Market for Mobile Crane Manufacturers
China’s early economic recovery and reduced concerns of a second COVID-19 wave have positioned it ahead of the US and Europe. The Chinese government’s heavy investment in road and infrastructure projects has driven demand for heavy equipment machinery, including mobile cranes.
Research indicates that mobile crane manufacturers are increasingly focusing on expanding in the Asia Pacific region, particularly in China and India, to offset challenges in the US and European markets. Increased engagement in these markets is expected in the coming decade.
Key Takeaways from Study
- Crawler cranes continue to be a top-selling category
- All terrain mobile cranes to emerge lucrative in terms
- Recovery in construction sector key to growth in
- APEJ (Asia Pacific Excluding Japan) to exhibit fastest growth rate through 2031 with its epicenters in China & India
- The United States to hold the major share in the North America mobile cranes industry
- Germany to maintain its lead in the mobile cranes industry of Europe
- The United Kingdom, Canada, Japan, France, and a few others to maintain positive outlooks for mobile cranes industry
Competitive Landscape
Liebherr Group, Terex Corporation, Tadano Ltd., Zoomlion Heavy Industry Science and Technology Co., Ltd., XCMG Construction Machinery Co., Ltd., Sany Heavy Industry Co., Ltd., KATO WORKS CO., LTD., Kobelco Construction Machinery Co., Ltd., Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd., The Manitowoc Company, Inc. are some of the key companies profiled in the full version of the report.
The global mobile cranes market is fragmented and thriving on the fast-paced growth of key players. In order to capitalize on the growing opportunities, key market players are starting by launching better quality products more frequently.
Leading Mobile Crane Brands
- Liebherr Group
- Terex Corporation
- Tadano Ltd.
- Zoomlion Heavy Industry Science and Technology Co., Ltd.
- XCMG Construction Machinery Co., Ltd.
- Sany Heavy Industry Co., Ltd.
- KATO WORKS CO., LTD.
- Kobelco Construction Machinery Co., Ltd.
- Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
- The Manitowoc Company, Inc.
- Konecranes
- PALFINGER AG
- Sarens n.v./s.a.
- Altec Industries
- Bauer Group
Mobile Cranes Market by Category
Product Type
- Truck Cranes
- All Terrain Cranes
- Rough Terrain Cranes
- Crawler Cranes
- Others
Application
- Construction Industry
- Oil & Gas Industry
- Shipping & Port Building
- Others
Report Preview: https://www.futuremarketinsights.com/reports/mobile-cranes-market
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