Press release
Mobile Crane Market is Growing at High CAGR By 2025 - Liebherr-International S.A., Tadano Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd., Sany Heavy Industry Co., Ltd., Kato Works Co. Ltd.
Mobile Crane Market Outlook to 2025
Burgeoning investments in the construction sector for infrastructure development to drive the usage of mobile cranes whose market is forecasted to grow at a CAGR of 2.16%
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Top Dominating Key Players in Mobile Crane Market:
- 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.
Adoptions of mobile cranes is also expected to accelerate owing to, expansion in the cement plants and increased business potential of ship building/repair. Moreover, rising competition in the market is expected to further drive the crane rental rates resulting in overall growth of mobile crane revenue share. The general construction and transportation sectors on the other side are back into the force with a large number of projects coming in their way, which is expected to have a progressive impact on the mobile crane industry. Majorly developing economies contribute to this difference, where construction and retrofit market both are growing at significantly higher pace, also the developed economies are anticipated to demand up gradation of mobile cranes in the coming years.
APAC with large number of emerging countries along with high rate of industrializing and growing urbanization is leading the mobile crane market. Europe market stood at the second largest market for mobile cranes owing to increasing investments in renewable energy application. Also, mobile crane rental market in Europe contributes a large market share. However, market in North America and Middle East is saturated from past few years owing to declining oil & gas industry.
The global mobile crane market has been segmented on the basis of Crane Type into crawler cranes, truck cranes, all-terrain cranes, rough terrain cranes and others. Mobile Cranes find their applications into two construction sector, oil & gas sector, energy & utilities, shipping & port building and others sector. Geographically, the global mobile crane market is segmented into Europe, Middle East & Africa (MEA), North America, Asia Pacific (APAC) and South America (SAM).
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The report segments the global mobile crane market as follows:
Global Mobile Crane Market - By Crane Type
- Truck Cranes
- All-Terrain Cranes
- Rough Terrain Cranes
- Crawler Cranes
Global Mobile Crane Market - By Application
- Construction
- Oil & Gas
- Power & Utilities
- Shipping & Port Building
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