Mobile Crane Market Size and Share Report by 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.
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Mobile Crane Market: Strategic Insights
Market Size Value in US$ 17,547.16 million in 2021 Market Size Value by US$ 22,261.76 million by 2028 Growth rate CAGR of 3.5% from 2021 to 2028. Forecast Period 2021- 2028 Base Year 2021
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
Customize Research To Suit Your Requirement
We can optimize and tailor the analysis and scope which is unmet through our standard offerings. This flexibility will help you gain the exact information needed for your business planning and decision making.
Mobile Crane Market: Strategic Insights
| Market Size Value in | US$ 17,547.16 million in 2021 |
| Market Size Value by | US$ 22,261.76 million by 2028 |
| Growth rate | CAGR of 3.5% from 2021 to 2028. |
| Forecast Period | 2021- 2028 |
| Base Year | 2021 |
Naveen
Have a question?
Naveen will walk you through a 15-minute call to present the report’s content and answer all queries if you have any.
Speak to Analyst
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 Report Scope
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
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Crane Type and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The market is expected to register a CAGR of 5.8% during 2023–2031.
The mobile crane market size is projected to reach US$ 30,804.3 million by 2031 from US$ 19,637.58 million in 2023.
Liebherr Group, 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., the Manitowoc Company, Inc. are some of the leading players in the mobile crane market.
Increasing Demand of Portable Mobile Cranes Drives the Market Growth
The increasing construction activities across the globe driving the trend in the market.
Asia Pacific is expected to dominate the mobile crane market in 2023.
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
Trends and growth analysis reports related to Mobile Crane Market
Jun 2024
Electric Vehicle Heat Pump Systems Market
Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Propulsion Type (BEV, HEV, PHEV), Component (Evaporator, Condenser, Compressors, Others), Vehicle Type (Passenger Vehicle, Commercial Vehicle), and Geography
Jun 2024
Hydrogen Fuel Cell Train Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Proton Exchange Membrane Fuel Cell, Phosphoric Acid Fuel Cell, and Others), Component (Hydrogen Fuel Cell Pack, Batteries, Electric Traction Motors, and Others), Rail Type (Passenger Rail, Commuter Rail, Light Rail, Trams, Freight, and Others) and Geography
Jun 2024
Automotive Seat Market
Size and Forecast (2020–2030), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Technology (Heated, Heated-Ventilated, Ventilated, With Massage Functions, and Others), Adjustment Type (Electrically Adjusted and Manual), Vehicle Type (Passenger Vehicle, Light Commercial Vehicle, and Heavy Commercial Vehicle), and Seat Type (Front Row, Second Row, and Third Row) and Geography
Jun 2024
Connected Vehicle Market
Size and Forecasts (2020 - 2030), Global and Regional Share, Trends, and Growth Opportunity Analysis By Technology (5G, 4G/LTE, 3G & 2G), Connectivity (Integrated, Tethered, Embedded), Application (Telematics, Infotainment, Driving assistance, Others) and Geography
Jun 2024
Automotive High Voltage Cable Market
Forecast to 2030 - Global Analysis by Vehicle Type [Battery Electric Vehicles (BEV), Plugin Hybrid Electric Vehicles (PHEV), and Plugin Hybrid Vehicles (PHV)], Conductor Type (Copper and Aluminum), and Core Type (Multi Core and Single Core)
Jun 2024
40-Ft Electric Boat Market
Forecast to 2030 - Global Analysis by Propulsion (Pure Electric, Hybrid, and Sail Electric), Battery Type (Nickel-Based, Lead-Acid, and Lithium-Ion), Application (Fishing, Recreational, and Others), Voltage Architecture (12 V, 24 V, and 48 V), and Boat Type (Trawlers, Catamarans, Yachts, Power Cruisers, and Others)
Get Free Sample For