The Mobile Crane Market Growth was valued at USD 16.70 billion in 2022 and is projected to reach USD 24.48 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 4.9% during the forecast period from 2023 to 2030.
The mobile crane market has witnessed significant expansion in recent years, driven by various factors such as increasing construction activities, infrastructure development, and the rising demand for efficient lifting and material handling equipment. With the growing need for heavy lifting solutions across industries like construction, oil and gas, mining, and transportation, the demand for mobile cranes is expected to continue its upward trajectory.
One of the key drivers propelling the market growth is the rapid urbanization and industrialization in emerging economies. As these countries experience a surge in construction projects and infrastructure development, the demand for mobile cranes to facilitate efficient and safe lifting operations is expected to soar. Additionally, the increasing adoption of advanced technologies, such as telematics and IoT, in mobile cranes is further fueling market growth.
Moreover, the market is witnessing a shift towards eco-friendly and energy-efficient mobile cranes, driven by stringent environmental regulations and the growing emphasis on sustainable practices. Manufacturers are investing in research and development to introduce innovative solutions that reduce emissions and enhance fuel efficiency, thereby catering to the evolving customer preferences and regulatory requirements.
Geographically, the Asia-Pacific region is anticipated to dominate the mobile crane market during the forecast period. This can be attributed to the rapid industrialization and urbanization in countries like China and India, which are witnessing substantial investments in infrastructure projects. Furthermore, the North American and European regions are expected to witness steady growth due to ongoing construction activities and the replacement of aging crane fleets.
In conclusion, the mobile crane market is poised for significant growth in the coming years, driven by factors such as increasing construction activities, infrastructure development, and the adoption of advanced technologies.
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KEY MARKET SEGMENTATION
On The Basis of Product Type
- Truck Mounted Crane
- Trailer Mounted Crane
- Crawler Crane
On The Basis of application
- Construction
- Industrial
- Utility
Key Players
The major key players are BAUER AG, The Manitowoc Company,Inc., Kobelco Construction Machinery Co., Ltd. (Kobe Steel, Ltd.), Liebherr-International AG, Manitex International, Inc., Palfinger AG, Sarens N.V. /S.A., Terex Corporation, Zoomlion Heavy Industry Science & Technology Co.Ltd., Xuzhou Construction Machinery Group Co., Ltd. and Other Players
Driving Factors
- GPS technology adoption.
- Emphasis on infrastructure improvements.
Opportunities
- The commercial and residential building industries are increasingly demanding infrastructural advancements.
- Urbanization is growing, and smart cities are being introduced.
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Table of Contents
- Introduction
- Research Methodology
- Market Dynamics
- Impact Analysis
- Value Chain Analysis
- Porter’s 5 forces model
- PEST Analysis
- Global Mobile Cranes Market Segmentation, By Product
- Global Mobile Cranes Market Segmentation, By Application
- Regional Analysis
- Company Profile
- Competitive Landscape
- Conclusion
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