Mobile construction cranes worth 9 billion US dollars are to be sold in 2018, according to the Fact.MR study
Manufacturers in the mobile construction crane market are investing in research and development activities to develop robotic cranes and introduce new technologies. With the introduction of new technologies, mobile construction cranes can be energy efficient and compact.
However, the global market for mobile construction cranes is facing challenges due to the shortage of skilled workers and increased labor costs.
Slow growth is expected for the market for mobile construction cranes. The latest report from Fact.MR predicts that the mobile construction crane market will generate sales of over $ 9,000 million by the end of 2018.
The growth of renewable energy projects to meet the ever increasing demand for power supply is also one of the factors driving demand in the mobile construction crane market.
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All-terrain cranes are seeing significant growth in the mobile construction crane market
The demand for rough terrain cranes, a type of mobile construction crane, is expected to increase significantly in the forecast period 2018-2028. The ability to work in all weather conditions and off-road, superior off-road mobility, the ability to lift heavy loads, and the ability to move quickly on public roads are some of the benefits that are driving the demand for all off-road cranes in the market for mobile construction cranes.
The growth in the number of cement plants and shipbuilding / ship repair is accelerating the demand for rough terrain cranes in the mobile construction crane market. Significant growth in the construction and retrofitting market in emerging countries is also leading to increasing demand for all-terrain cranes and other mobile construction cranes.
In Europe, both the existing infrastructure and the power grids are increasingly being modernized and repaired. Therefore, the demand for rough terrain cranes in the mobile construction crane market in the region is likely to increase.
“Sales of all rough-terrain cranes in various industries are expected to increase in the coming years. Crawler cranes, a type of mobile construction crane, are also likely to be in great demand in the construction sector.
The market valuation for all rough terrain cranes is estimated at more than $ 3,000 million by the end of 2018, which is the maximum revenue share of the product in the mobile construction crane market. “, – Lead Analyst, Fact.MR.
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However, high initial investment along with high maintenance costs for all rough terrain cranes can hamper the growth of the product in the mobile construction crane market in different regions.
The construction sector dominates the market for mobile construction cranes
The demand for mobile construction cranes is expected to increase in a significant phase in the forecast period 2018-2028. The rise in infrastructure development with the need for a high load capacity application for high altitude construction is driving the growth for mobile construction cranes in the construction industry.
The Asia-Pacific region has the largest share in the construction industry and offers growth opportunities for mobile crane manufacturers in India, China and Japan. The dynamism in the infrastructure sector in the region is therefore likely to lead to sluggish development in the market for mobile construction cranes.
In addition, increasing road, rail and underground projects are ensuring good demand for mobile construction cranes.
In Southeast Asia, especially in Malaysia, the Philippines and Indonesia, high investments in new construction projects are expected. The expansion of the construction industry in the region should fuel demand in the mobile construction crane market.
According to a new report by Fact.MR, the construction sector is likely to see significant growth in the mobile construction crane market in the period 2018-2028. In addition, the construction sector is expected to account for the largest share of sales, bringing in more than $ 5,000 million in the mobile construction crane market by the end of 2018.
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Meanwhile, the Middle East government is investing heavily in the development of transportation, ports and building infrastructure. As a result, enormous demand for heavy lifting equipment such as mobile construction cranes and special transport services is expected in the region.
Mobile construction cranes with a capacity of less than 100 tons are likely to record the highest turnover in the forecast period. Low price, lower fuel consumption and easy assembly and carrying of loads are some of the advantages of mobile construction cranes with a capacity of less than 100 tons.
The overall outlook for the mobile construction crane market should remain optimistic The global demand for mobile construction cranes increases in value by 3.5% CAGR in the forecast period 2018-2028.
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