According to the new research report from The Insight Partners titled “Mobile Crane Market to 2025 – Global Analysis and Forecast to 2025,” the global mobile crane market is projected to reach $ 9.83 billion in 2025, a CAGR of 2, 16% corresponds. in the forecast period 2017 to 2025.
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The European construction market is experiencing growth after the downturn in recent years. Housing construction is increasing sharply due to demographic developments, low mortgage rates and increased household incomes. The increasing demand for housing in this region is one of the most important drivers for the growth of the construction sector in Europe. In addition, the European government is in the process of transforming the economy with the aim of minimizing greenhouse gas emissions, and electricity is expected to play an important role in this. Thus, heavy machinery sales will increase in proportion to these investments.
Countries like Germany and Great Britain are seeing high growth in their construction sector. Governments of different countries are taking initiatives with the aim of supporting the construction industry. For example, the Italian government has taken initiatives to boost growth in both public and private infrastructure investments. In Spain, too, the government provided subsidiaries and grants for the renovation and construction of rental houses. In addition, the Italian government is offering tax rebates and low mortgage rates to fuel the housing construction recovery in the country. For the European mobile crane market, lucrative CAGR growth of 2.74% is expected in the forecast period.
The Chinese government is very focused on developing its infrastructure and has taken several measures to support the development. For example, the country’s central government has recently intensified fiscal incentives in the form of infrastructure investments to maintain economic growth. In addition, local governments gradually relaxed real estate regulations, credit availability and purchase criteria, which led to an improvement in the domestic real estate market. Also, China’s 13th Five-Year Plan focuses on increasing investment in the country’s infrastructure. A moderate CAGR growth rate of 3.19% is estimated for the Chinese market for mobile cranes in the forecast period.
Liebherr Group, Tadano Ltd., Hitachi Sumitomo, Manitowoc Company, Inc. and Terex Corporation are some of the major players in the market. APAC, with a large number of emerging countries as well as a high rate of industrialization and increasing urbanization, is a leader in the mobile crane market. The European market was the second largest market for mobile cranes due to increasing investments in renewable energies. The mobile crane rental market in Europe also has a large share of the market. However, the market in North America and the Middle East has been saturated for several years due to the declining oil and gas industry.
In our study, we segmented the mobile crane market based on crane types, including truck cranes, all terrain cranes, rough terrain cranes, crawler cranes, and others. In addition, the mobile crane market application segment is divided into Construction, Oil & Gas, Shipping & Port Construction, Energy & Utilities, and others. On the basis of the geography, the mobile crane market is analyzed in North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), and South America (SAM) regions.
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Reason to buy
- Save and reduce the time carrying out entry-level research by identifying the growth, size, leading players and segments in the global Mobile Crane Market
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- The key findings and recommendations highlight the key advanced industry trends in the Truck Crane market and enable players to develop effective long-term strategies.
- Developing / changing business expansion plans by leveraging significant growth opportunities in both developed and emerging markets.
- Examine in-depth global market trends and prospects related to the factors that are driving the market as well as those that are hindering it.
- Improve the decision-making process by understanding the strategies that underpin commercial interest around products, segmentation, and industry segments.
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