Mobile crane market size, Trends, Analysis, Future scope, Size, Share, Forecast to 2023

The global mobile crane market size is poised to have a notable growth at 4% CAGR over the predicted years (2017-2023). A mobile crane can either be a big crane that has various attachments or a simple machine having a telescopic boom fixed on its platform. It is easy in getting to the job site, need minimal set up and above all can handle different specific site and terrain issues. As various applications need various forms of cranes, mobile cranes are available in various sizes and specifications including Truck Mounted, Sidelifter, All Terrain, Rough Terrain, Telescopic Handler and Crawler Cranes. Mobile crane services are beneficial for different industries and applications owing to its special characteristics. These include saves space, offers flexibility, provides fast setup, provides higher strength, and most importantly is a cost-effective solution.

There are abundant factors that is propelling the growth of the mobile crane market. These factors as stated by the Market Research Future (MRFR) report include initiatives taken by the government to upgrade the existing infrastructure especially of developed economies, constantly growing population that has led to growing investments in both the construction sector and the infrastructure of different economies, growing use in numerous applications namely shipping, oil and gas and construction and increased investments in power plants. The additional factors that has propelled the market growth include use of GPS technology, adoption of telematics, power distribution, commercialization, robust industrialization, growing use in mining companies, increasing market competition and demand of mobile cranes in fleet management services. On the contrary, lack of qualified and skilled crane operators, high cost related to purchase, installation, dismantling and erection of such machines, spurious and used equipment, stringent emission norms and increasing price of compliance are factors that may inhibit the growth of the mobile crane market over the predicted years.

Market Segmentation

MRFR report provides an extensive segmental analysis of the mobile crane market on the basis of product and application.

Based on product, it is segmented into crawler cranes, wheeled mobile cranes and others.

Based on application, the mobile crane market is segmented into building cars, shipbuilding, industries, construction and others. Of these, construction will have the largest share in the market over the predicted years.

Regional Analysis

By region, the mobile crane market covers growth opportunities and latest trends across Rest of the World, Asia Pacific, Europe and North America. Of these, Asia Pacific will reign the market over the predicted years. This is owing to growing demand for innovations in infrastructure by residential and commercial construction industries, the region’s booming construction industry, political stability, introduction of numerous smart cities and increasing urbanization. In Europe, the mobile crane market will have the second major share over the predicted years. This is due to growing investments being made in renewable energy applications. On the other side, the mobile crane market in the Middle East and North America is saturated from the last couple of years due to the declining oil and gas industry.

Key Players

Leading players profiled in the mobile crane market include LiuGong Machinery Co., Ltd. (China), Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd (Japan), Kato-works Co. Ltd. (Japan), Zoomlion Co., Ltd. (China), Sany Group Co. Ltd (China), Palfinger AG (Austria), Terex Corporation (U.S.), Tadano Ltd. (Japan), Manitowoc Company, Inc. (U.S.), XCMG Group (China), Liebherr Group (Switzerland) and others.

April 2019- Leading manufacturer of trailers and specialized equipment, Load King has revealed the news of its acquisition of truck crane products, crossover and boom truck of Terex Corp. This acquisition marks the most recent milestone in the company’s continued expansion of manufacturing portfolio that already includes advanced trailer lines, mechanics body, roofing conveyor, dump body and water tank. Load King is planning to introduce enhanced and new crane configurations in the future along with other opportunities and developments that is predicted to accelerate its continued growth. Customers will be assured of the fact that the company will continue in selling parts and offer support to tower crane, rough terrain and other forms of legacy crane products.