Mobile Crane Market is expected to reach US$ 22,261.76 million by 2028

Rising Demands from Construction Industry Drives Mobile Crane Market

According to our new research study on “Mobile Crane Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Crane Type and Application,” the mobile crane market share is projected to reach US$ 22,261.76 million by 2028 from US$ 17,547.16 million in 2021; the market is estimated to grow at a CAGR of 3.5% from 2021 to 2028.

A mobile crane is either a cable-controlled crane installed on crawlers or rubber-tired carriers or a hydraulic-powered crane with a telescoping boom mounted on truck-type carriers or self-propelled variants. They are meant to be readily transported to a location, and used with various load and freight categories with little or no setup or installation requirements. Mobile cranes typically use a boom from which a hook is suspended through a wire rope and sheaves. The wire ropes are driven by the prime movers that are available with designers using a variety of transmissions, which include internal combustion engines (IC), steam engines, and electric motors. On older cranes, transmissions are often carried out by clutches. Appropriate changes were later made into the transmission mechanisms of old cranes when IC engines were employed to attain the highest torque at zero speed, as achieved in cranes driven by steam engines, wherein a hydrokinetic element culminates in controlled torque converters. The operational advantages of this configuration may now be achieved through electronic control of hydrostatic drives, which is becoming typical due to size and other factors.

The COVID-19 pandemic had a mild impact on the mobile cranes market. Many construction and infrastructure sites across the world, which are major business sites for cranes, were shut down due to the lockdown orders of governments. However, in some regions, mining activities were declared essential and running through the lockdown, which created a lucrative opportunity for the mobile crane market.

On the basis of crane type, the mobile crane market is segmented into truck cranes, all-terrain cranes, rough terrain cranes, crawler cranes, and others. Based on application, the market is segmented into construction, oil & gas, shipping & port building, power & utilities, and others. Based on geography, the market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).

Impact of COVID-19 Pandemic on Mobile Crane Market

The COVID-19 outbreak had a mild negative effect on the mobile crane market in 2020. This can be attributed to a decline in revenue and growth of companies operating in the market due to supply and demand disruptions across the value chain. However, with the increase in vaccination, restrictions are lifted, which is favoring the resumption of production activities in the residential and commercial sectors. This is expected to normalize the market growth over the forecast period of 2021–2028.

LIEBHERR-INTERNATIONAL DEUTSCHLAND GMBH; Terex Corporation; Tadano Ltd.; Zoomlion Heavy Industry Science & Technology Co., Ltd.; Xuzhou Construction Machinery Group Co., Ltd.; Sany Group; KATO WORKS CO., LTD; Kobelco Construction Machinery Co., Ltd.; Sumitomo Heavy Industries Construction Cranes Co., Ltd.; and The Manitowoc Company, Inc. are among the major companies operating in the mobile crane market.

Mobile Crane Market – by Region

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Mobile Crane Market Size and Share Report by 2031

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Mobile Crane Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Crane Type (Truck Cranes, All-terrain cranes, Rough Terrain Cranes, Crawler Cranes, and Others) and Application (Construction, Oil and Gas, Shipping and Port Building, Power and Utilities, and Others)