The mobile crane market is anticipated to witness exponential growth credited to the migration of people to urban areas and increasing population. The demand for efficient transport infrastructure facilities has led to higher number of urban infrastructure projects and subsequent high demand for mobile cranes.
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The mobile crane market is likely to surpass USD 25 billion by 2030. Several mobile crane manufacturers are developing equipment rigged with advanced technologies in order to enhance the overall safety and performance of the machine, and to decrease maintenance and repair costs. In 2021, SANY India announced the upgradation and launch of four new truck cranes that adhere to the new emission norms set in the country.
The demand for utility services such as rescue operations, gas & water pipeline installations, fire safety, and clearing of collapsed buildings & trees has intensified lately as to rising natural calamities witnessed worldwide. Extending electricity networks through the launch of new power projects has also been the priority of government authorities.
Product demand and growth opportunities in the market are becoming possible due to integration of advanced technologies like telematics and fleet management by OEMs and burgeoning construction projects. Rough terrain cranes are in high demand, attributed to the fact that they offer robust maneuverability over various kinds of surfaces.
Despite COVID-19 restrictions impacting international trade and hampering the sales of new equipment, the industry is expected to pick up speed as to gradual ease in lockdown restrictions. Moreover, new investments in mining projects as well as in oil & gas exploration are likely to boost the industry in the Middle East and North America countries.
The mobile crane market in Asia Pacific is projected to expand credited to government emphasis on renewable energy plant construction and increasing mining projects. Countries such as India, China, and Japan are making investments in new renewable energy plant construction projects, fueling equipment demand in the region.
Mobile crane market comprises of companies including Liebherr Group, Terex Corporation, Kobelco Construction Machinery Co. Ltd., SANY Group, Zoomlion Heavy Industries Science and Technology Co. Ltd., Manitowoc, Kato Works Co. Ltd., and LiuGong Machinery Co. Ltd. These firms are focusing on different business strategies such as acquisitions, product innovation and launch of new services. In 2021, Manitowoc announced its agreement to acquire the crane business of America’s rental equipment firm H&E Equipment Services, Inc., as a part of its growth strategy.
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Some Point from Table of Contents:
Chapter 6 Mobile Crane Market, By Capacity
6.1 Key trends, by capacity
6.2 5 ton
6.2.1 Market estimates and forecast, 2016 – 2030
6.3 10 to 20 ton
6.3.1 Market estimates and forecast, 2016 – 2030
6.4 21 to 30 ton
6.4.1 Market estimates and forecast, 2016 – 2030
6.5 Above 30 ton
6.5.1 Market estimates and forecast, 2016 – 2030
Chapter 7 Mobile Crane Market, By Application
7.1 Key trends, by application
7.2 Construction & mining
7.2.1 Market estimates and forecast, 2016 – 2030
7.3 Oil & gas/Energy
7.3.1 Market estimates and forecast, 2016 – 2030
7.4 Transportation & shipping
7.4.1 Market estimates and forecast, 2016 – 2030
7.5 Manufacturing
7.5.1 Market estimates and forecast, 2016 – 2030
7.6 Utility
7.6.1 Market estimates and forecast, 2016 – 2030
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