Mobile Crane Market Analysis and Forecast by Size, Share, Growth, Trends 2031

The mobile crane market size is projected to reach US$ 30,804.3  million by 2031 from US$ 19,637.58 million in 2023. The market is expected to register a CAGR of 5.8% during 2023–2031. The increasing construction activities across the globe driving the trend in the market.

Mobile Crane Market Analysis

OEMs in the global mobile crane market carry out various processes such as designing, assembling, and transforming of raw material into finished products. Liebherr-International S.A.; Terex Corporation; Tadano Ltd.; Zoomlion Heavy Industry Science and Technology Co. Ltd.; XCMG Construction Machinery Co., Ltd.; SANY Heavy Industry Co., Ltd. Kato Works Co. Ltd.; KOBELCO Construction Machinery Co., Ltd.; Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.; The Manitowoc Company, Inc. among others, are some of the leading players in the mobile crane market. The companies are offering a wide range of products including truck cranes, all-terrain cranes, rough terrain cranes, crawler cranes, and others.

Mobile Crane Market Overview

The mobile crane market ecosystem comprises the following stakeholders – raw material providers, mobile crane component manufacturers, OEMs, and end users. Major players occupy significant places in the various nodes of the mobile crane market ecosystem. The raw material providers supply the components such as steel plate along with cut-to-length standard structural pipe that are fabricated into structures by welders. The various subassemblies all feed into a central assembly line for a specific type and model of crane. At the assembly line, steel components are joined, electronics are added, and depending on the specifications of a given crane, additional components or accessories are added. Component manufacturers provides hook, hoist, trolley, bridge, load measurement system, lifting magnets among others for the cranes.

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Mobile Crane Market: Strategic Insights

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Mobile Crane Market Drivers and Opportunities

Increasing Demand of Portable Mobile Cranes Drives the Market Growth

The fundamental advantage of mobile cranes is their compactness and ease of access at small building sites, particularly in urban settings. Mobile cranes require less site area to operate than tower cranes and accomplish the same activities as fixed cranes. Furthermore, transportable cranes do not need to be assembled at each location, saving time and decreasing labor requirements. Liebherr introduced the MK 73-3.1 mobile construction crane in March 2021, which is the smallest in Liebherr's mobile construction crane family. The new product complements the crane series of the company, which includes the MK 88-4.1 and MK 140. The compact 3-axle crane provided by the companies is the market's response to the desire for a tiny, compact, and agile, mobile construction crane exhibiting quick and versatile operations. Such developments in the functionalities are propelling the mobile crane market growth.

Development of large intralogistics center in South-East Asia

The rising e-commerce sector in Southeast Asia supports the expansion of the market for warehousing and intralogistics in this region. The region encompasses 11 country-level markets at varying levels of growth; hence, it is rapidly becoming an economic centre. The economy of Southeast Asian countries is expanding with the steadily increasing middle-class population. According to statistics obtained from the International Monetary Fund, the aggregate GDP of all ASEAN countries is expected to be US$ 4.37 trillion by 2024.

Reduced Fuel Consumption of Mobile Cranes

Growing trends of high-performance products with fuel efficiency and reduced carbon emission and have encouraged the Companies in the mobile crane market to innovate their product portfolio and strengthen its presence in the fast-growing truck crane category. As a result, Sany Heavy Industry India pt. Ltd. launched its advanced CEV Stage IV emission-compliant cranes that consumes less power and provide stability and safety during operation. The advanced crane’s maximum load-lifting capacity is 25 ton at a working radius of 3mts and a maximum boom length of 33.5m. The STC450C is fuel-efficient and has an adjustable hydraulic system with intelligent electric controls. The increase in the number of infrastructural projects across the globe has increased the demand for cranes with advanced mechanized solutions, high-loading capacities, low fuel consumption, and easy maintenance.

Models of mobile cranes now have driven and control systems with a variety of optional features that assist to minimize fuel consumption and increase productivity and dependability. When the engine is in idle mode, the complete pump drive is disengaged automatically, and when power is necessary, it is turned on in a couple of seconds utilizing intelligent control. The software provides signals to the electronic engine, which adjusts its RPM automatically according on the lifting needs at the job site. For instance, Zoomlion manufactures mobile cranes that has an energy-saving system that operates at multiple power modes and the average fuel consumption has been reduced by 20 %, down to 4.5 liters per hour. Zoomlion has also designed the crane’s cabs and operator information panel to be as ergonomic and safe as possible, thus maximizing potential overseas demand.

Mobile Crane Market Report Segmentation Analysis

Key segments that contributed to the derivation of the mobile crane market analysis are crane type, application, and geography.

• Based on crane type, the global mobile crane market is segmented into truck cranes, all-terrain cranes, rough terrain cranes, crawler cranes, and others. The truck cranes segment held the largest market share in 2020. The All-terrain cranes segment is anticipated to grow at a highest CAGR during the forecasted period. All-terrain cranes, specifically of the 100 to 250-ton range are the highest in demand for their capacity and flexibility.
• Based on application, the global mobile crane market is segmented into construction, oil and gas, shipping and port building, power and utilities, and others. The construction segment held the largest market share in 2020. The Oil and Gas segment is anticipated to grow at a highest CAGR during the forecasted period. Offshore mobile cranes are increasingly being deployed for the oil and gas extraction processes.

Mobile Crane Market Share Analysis by Geography

The geographic scope of the mobile crane market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Asia Pacific is the fastest growing region owing to increasing construction activities across the globe. Further, the European mobile crane market is primarily driven by a considerable increase in construction equipment rental and leasing, in addition to the proliferation of the construction sector, across the continent. This has made it easier for end users to access and utilize construction equipment across a wide range of applications. In addition, the US was among the top countries deeply affected by the pandemic. Ongoing infrastructure projects and construction sites were on halt during this time; this deeply affected the market for mobile cranes. Soon after Q3 of 2021, governments lifted several regulations and measures to overcome the losses faced by the mobile crane market in North America.

Mobile Crane Market Regional Insights

The regional trends and factors influencing the Mobile Crane Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Mobile Crane Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.

Mobile Crane Market Report Scope

Mobile Crane Market Players Density: Understanding Its Impact on Business Dynamics

The Mobile Crane Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.

Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.

Major Companies operating in the Mobile Crane Market are:

1. Liebherr-International S.A.
2. Terex Corporation
3. Tadano Ltd.
4. Zoomlion Heavy Industry Science and Technology Co. Ltd.
5. XCMG Construction Machinery Co., Ltd.
6. SANY Heavy Industry Co., Ltd. Kato Works Co. Ltd.

Disclaimer: The companies listed above are not ranked in any particular order.

Mobile Crane Market News and Recent Developments

The mobile crane market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Mobile Crane Market are listed below:

• ACE - Action Construction Equipment (ACE) launched first fully electric one of the mobile cranes with 180 tons lifting capacity. It is the first aerial work platforms launched at Bauma Conexpo show 2023. (Source: Company Website, February 2024)
• Liebherr Group planned to launch another crane model equipped with the new LICCON3 control system: the LTM 1300-6.3 is becoming the LTM 1300-6.4. Three models in the LTM series are now characterised by the company's new trend-setting crane design. Liebherr will present the LTM 1300-6.4 at Intermat in Paris, France. (Source: Company Website, March 2024)

Mobile Crane Market Report Coverage and Deliverables

The “Mobile Crane Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

• Mobile crane market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
• Mobile crane market trends as well as market dynamics such as drivers, restraints, and key opportunities
• Detailed PEST and SWOT analysis
• Mobile crane market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
• Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the mobile crane market
• Detailed company profiles