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Mobile Construction Cranes System Market Steady Growth to be Witnessed by 2018 to 2028 | Key Players are XCMG Co. Ltd., Terex Corporation, TADANO Ltd., etc.
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Majority of the share in the mobile construction cranes market remain concentrated among well-established companies. The leading players in the market are focusing on research and development activities. For instance, Liebherr-International AG, one of the largest mobile construction cranes company is planning to develop fiber rope with high-strength to be used in crawler and mobile cranes. 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.
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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.
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. 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.
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.
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