Global market for mobile cranes

Mobile cranes are powerful devices that can lift weights of up to a few hundred tons. Mobile cranes are used in a variety of applications such as building construction, mining, the automotive industry, aircraft, hydropower projects and manufacturing. Compactness and easy accessibility in a small design are essential advantages of mobile cranes.

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The rise in residential and commercial construction in developing countries is likely to drive growth in the global mobile crane market. In addition, increased support and initiatives to reduce vehicle CO2 emissions and improve road safety are expected to continue to drive global growth in the mobile crane market. Also, the increase in job opportunities and ease of lifestyle in urban cities draw people from small villages to cities every year, which will lead to rapid urbanization around the world. This is expected to lead to an increase in the urban population, which has resulted in an unexpected shortage of apartment buildings in cities. Therefore, governments and private contractors invest large sums in structures such as schools, buildings and hospitals. This surge in infrastructure demand will support market growth during this forecast period.

Increase investment in developing countries in the APAC region, which is expected to drive global growth of the mobile crane market. Multiple developing countries in the APAC region Coupled with rapid population growth and significant investment and funding from various countries’ governments for infrastructure development aimed at driving demand for the mobile crane market.

The limited weight lifting capacity and short reach of mobile cranes are major barriers that are likely to hamper the global growth of the mobile crane market. In addition, the global increase in the COVID-19 pandemic will have an impact on market growth. Due to COVID-19, major countries such as the US, Italy, UK and other countries have had lengthy lockdowns that are expected to hamper global growth of the mobile crane market over the forecast period.

Market segmentation

The global mobile crane market is divided into types such as wheel-mounted mobile crane, commercial truck-mounted crane, railroad crane, and others. In addition, the market is segmented into applications such as construction, mining and excavation, marine and offshore, industrial applications, and others.

Additionally, the global mobile crane market is segmented into five regions such as North America, Latin America, Europe, Asia-Pacific, and the Middle East and Africa.

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Major players in the market

Various key players are listed in this report, including Altec, Inc, SANY Global, Manitowoc Company, Inc, Tadano, Inc, Terex Corporation, Zoomlion Heavy Industry Science & Technology Co., Ltd, Kobelco Construction Machinery Co., Ltd, Liebherr- International AG and Cargotec Corporation.

The global mobile crane market was examined for the forecast period taking into account the Porter’s Five Force Model for the observation period 2020 to 2027. Additionally, a detailed SWOT analysis has been conducted in order to have a thorough understanding of the various factors influencing the global Mobile Crane Market.

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