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Global Mobile Construction Cranes Market Assessment & Opportunity Forecast Till 2028 ||Top Market Participants- Liebherr-International, Manitowoc Co., Terex Corporation, TADANO Ltd., Kobelco Construction Machinery Co., Ltd., XCMG Co. Ltd, Zoomlion Heavy I
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Companies in the mobile construction cranes market are also focusing on increasing their product reach across regions like Asia Pacific Excluding Japan, and the Middle East and Africa. For example, Kobelco Construction Machinery Co. Ltd. has set-up wire rod secondary processing bases in India, China, and Thailand.
Top five companies hold significant share based on the revenue in the overall mobile construction cranes market. New product development, mergers & acquisitions, and partnerships are some of the key strategies adopted by companies in the mobile construction cranes market.
Mobile construction cranes manufacturers are trying to develop new cranes with reduced size, weight, and cost. Use of mobile apps is allowing mobile construction cranes manufacturers to access instant information to adapt to the changing environment. For instance, the onboard computer system in the mobile construction cranes allow the crane operator to adjust to the specific requirements of the lifting process.
New mobile construction cranes are being developed with specific measurements for crane level, wind speed, and boom angle. Meanwhile, sensors installed in the mobile construction cranes offer real-time data on the operating condition of the machinery. Companies such as Liebherr, and Manitowoc exhibited new cranes with advanced technologies at various events in 2018.
The demand for better construction equipment and mobile construction cranes with high capacity lifting is increasing in countries like Indonesia, Vietnam, China, and India. This is due to the heavy investments by foreign investors in the development of urban infrastructure and new smart cities.
Development in Global Construction Sector Influencing Mobile construction cranes Market Growth
Construction has emerged as one of the most dynamic industrial sectors owing to the rising infrastructure due to growing population and urbanization. Mobile construction cranes are extensively used in construction and maintenance activities. Moreover, upgradation of distribution networks and power grids due to increasing demand for energy is fueling the growth in the mobile construction cranes market.
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Many heavy-construction projects including flyovers, metro projects, power projects, and industrial projects have raised the demand for mobile construction cranes in countries in the Asia Pacific region. Governments in the region are also focusing on speedy project approval, hence, construction equipment manufacturers and mobile construction cranes providers are positive about future growth.
Meanwhile, mobile construction cranes rental market in the Asia Pacific is also witnessing strong growth with the rise in demand for cranes used in building power plants, and the shipping industry.
Increasing use of Telematics for Remote Monitoring of Mobile construction cranes
Use of telematics in various construction equipment and machines is one of the latest trends gaining popularity in the mobile construction cranes market. Mobile construction cranes manufacturers are using telematics technology to produce valuable data on fleet management, GPS tracking, remote diagnostics, etc.
In recent years, leading players in the mobile construction cranes market have implemented telematics technology. However, construction equipment and mobile construction cranes rental companies are also focusing on using telematics, owing to increased profitability and operational efficiency.
According to the 2017 Telematics Benchmark Report from Teletrac Navman, contractors using telematics to monitor fuel consumption have witnessed almost 40% of cost reductions.
Stringent Regulations to Challenge the Growth of Mobile construction cranes Market
Regulatory bodies across the regions are updating the rules on using mobile construction cranes and meet emission standards. The Occupational Safety and Health Administration (OSHA), has updated Final Cranes and Derricks Rule which calls for mandatory national certification for crane operators in the construction industry. The new rule is set to take effect from November 2018.
Meanwhile, the US Environmental Protection Agency (EPA) has introduced strict emission standards for diesel-powered equipment. The EPA requires all newly manufactured mobile cranes and heavy haul equipment with ‘Tire 4 Final’ compliant diesel engines. To reduce particulate matter and nitrogen oxides.
The US, Canada, European Union, and Japan have already set emission standards to control emission from Non Road Mobile Machinery (NRMM) including mobile construction cranes. Meanwhile, the committee has also been formed to work on developing European standards for mobile cranes. The committee known as CEN/TC 147 works on maintenance and development of safety standards relating to the mobile cranes.
Competitive Landscape
The report on the mobile construction cranes market offers detailed profiles of all the major market players. The report offers a dashboard view on mobile construction cranes market players. Moreover, SWOT analysis on the key players along with key strategies by players in the mobile construction cranes market has also been included in the report. Majority of the players in the mobile construction cranes market are entering into the partnerships and mergers and acquisitions to set their footprints across various countries.
As a part of the recent development in the mobile construction cranes market, Tadano has entered into a partnership with Nippon Express Group to open a new global parts supply center in Singapore. With the new center, Tadano plans to increase its sales and provide support to the customers outside Japan.
Meanwhile, Liebherr- Australia, a sales and service division of Liebherr in Australia plans to takeover Morrow Equipment Company in Australia and New Zealand. The company plans to establish itself well in both countries.
Research Methodology
The research methodology forms the base for forecast and insights provided in the mobile construction cranes market report. Primary and secondary research is also done to gain accurate and latest information on the mobile construction cranes market.
Interviews are conducted and information obtained is used to validate the data acquired from the secondary research. The report on the mobile construction cranes market is likely to be an exclusive information source to help leading players plan strategies for further business expansion and growth in the mobile construction cranes market.
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About FactMR
FactMR is a fast-growing market research firm that offers the most comprehensive suite of syndicated and customized market insights reports. We believe transformative intelligence can educate and inspire businesses to make smarter decisions. We know the limitations of the one-size-fits-all approach; that's why we publish multi-industry global, regional, and country-specific research reports.
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