+1-786-628-7980
Sign Up/Sign In 
In 2021, the size of the mobile crane market was estimated at USD 9,568.5 million. According to projections, the global industry will increase from USD 10,123,47 million in 2022 to USD 15,022,05 million in 2030, growing at a 5.80% compound annual growth rate (CAGR) throughout the forecast period (2022 – 2030).
The primary market factors boosting the mobile crane industry are the deployment of GPS technology and the focus on infrastructure projects,”
The budgets, economic climate, and general state of the economy are only a few of the numerous variables that determine how the building and mining sectors develop. The market prediction predicts that the possibility of sizable infrastructure projects and changing labour dynamics would boost demand for construction equipment. Also, a number of nations are seeing considerable foreign direct investment (FDI) in the building sector. For instance, the Australian construction sector got roughly AUD 2.2 billion in FDIC in 2020. The production of mobile cranes with high performance and big lifting capabilities has been the focus of the market report’s leading companies in the sector.
For instance, the Italian mobile crane maker Manitex Valla will introduce the V110 R Electric Mobile Crane in February 2021. It is a battery-operated, remote-controlled mobile crane. Front-wheel drive, an 11-ton lifting capacity, and a 10.4-meter service height are all features of this equipment. Market dynamics predict that infrastructure investments, including those in the Philippines’ “Build, Build, and Build” Development Plan ($71.8 billion), Vietnam’s Socio-Economic Development Plan ($61.5 billion), and Indonesia’s National Medium-Term Development Plan ($460 billion), will increase demand for construction equipment in these countries.
For example, the UK government said in March 2020 that it intended to invest a total of EUR 640 billion (USD 825 billion) between 2020 and 2025. By 2025, it is anticipated that one million new dwellings would be built, with a budget of around 10.9 billion euros set up for this purpose. As a result, government initiatives like these in a number of nations have increased market Growth globally in recent years. Furthermore, the market size has grown quickly as a result of the adoption of smart technologies. Well-known mobile crane industry firms use telematics platforms on their cranes to boost productivity and equipment effectiveness. For instance, Terex Company stated in May 2021 that all Terex rough terrain cranes will henceforth use the new telematics platform T-Link.
Another reason for boosting the growth of the mobile crane market revenue is the T-Link platform, which helps equipment owners by tracking the real-time activities and position of their equipment. This enables owners to monitor and manage their fleet effectively.
Download Report Sample Copy: https://www.marketresearchfuture.com/sample_request/2964
Regional Insights for Mobile Crane
The report breaks down the markets by region, including North America, Europe, Asia-Pacific, and the rest of the world. Market figures indicate that the North American market will generate USD 4,362.37 million in 2021 and is anticipated to grow at a substantial CAGR over the course of the research year. The market in North America is expected to grow gradually as a result of increased expenditures in the shipbuilding and power and energy construction sectors. The government is making investments in building the country’s infrastructure, which incorporates a number of ecologically advantageous concepts that don’t jeopardize the delicate balance of the environment, thus the United States is anticipated to dominate the market. In addition, the United States, Canada, Germany, France, the United Kingdom, Italy, Spain, Australia, South Korea, and Brazil are among the important nations included in the market analysis. Due to growing expenditures in renewable energy “applications,” the remanufacturing process in construction, and the power & utility business, Europe’s mobile crane market has the second-largest market share. The demand for construction machinery has increased as a result of Europe’s construction sector’s continued recovery.
The mobile crane market in Germany had the biggest market share, while the mobile crane market in the UK had the quickest rate of expansion on the continent of Europe.
From 2022 to 2030, the Asia-Pacific Mobile Crane Market is anticipated to see the quickest CAGR. With high-end software and equipment built on cutting-edge technology, the market’s entire potential is improved. China is anticipated to have the greatest share of the market since there are several emerging market players providing technologically sophisticated cranes for various mobile crane industry applications. Also, the India mobile crane market had the quickest rate of growth in the Asia-Pacific region, with China’s mobile crane industry holding the greatest share.
Ask for Customization: https://www.marketresearchfuture.com/ask_for_customize/2964
Market segment insights for mobile cranes
Wheeled mobile cranes and crawler cranes are both included in the market segmentation based on product. The majority of the mobile crane market’s revenue in 2021 was generated by the wheeled segment. The rising need for mobile machinery in the power & utility, construction, and other sectors and industry verticals is predicted to help the segment’s development. Wheeled mobile equipment has a big loading capacity and makes it simple to move things from one place to another. These items are often utilised in bridge construction, hydropower projects, and railway construction. The market for crawler cranes is anticipated to have the greatest volume-based CAGR, according to market research. Crawler cranes are tiny and convenient to use, making them ideal for small construction sites, particularly in urban areas.
Crawler cranes are the most powerful cranes for usage in different activities involving heavy industrial items and other big building projects.
According to the market overview, the market was divided into applications for information construction, industries, shipbuilding, and building vehicles. Construction was the market’s largest category in 2021 and is anticipated to grow at the fastest rate from 2022 to 2030. It is projected that continuing residential and commercial infrastructure developments would help the category expand. Tower cranes cannot be relocated after installation until the project is finished. Mobile cranes are often preferred by builders who operate on a variety of projects since they are moveable. The production may be increased by using this technique to minimise idle machine time. Hence, completing infrastructure projects has a favourable effect on market expansion.
Key Players:
Altec Inc., Manitowoc Company Inc., Cargotec Corporation, Liebherr Instrumental AG, SANY, Tadano Inc., and XCMG are significant players.
Share Your Queries: https://www.marketresearchfuture.com/enquiry/2964
About Market Research Future:
Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
Related Report
Pervious Pavement Market Size, Share & Growth | Report 2032
Flooring Market Size, Share, Growth | Report, 2030
Underwater Concrete Market Size, Share & Growth | Report 2030
Cargo Shipping Market Size, Share, Growth | Report, 2030
Turning Tools Market Size, Share, Growth | Report, 2030
Ultra-high Performance Concrete Market Size, Share & Growth | Report 2030
Ready-Mix Concrete Market Size, Share, Forecast | Report 2030
