Mobile Crane Market Excessive Growth Opportunities Growing at a CAGR of 5.3% by 2031

Mobile cranes, versatile machinery utilized for material lifting, typically feature hydraulic telescopic arms or lattice booms designed for transporting medium to heavy loads. Their key advantage lies in their mobility, allowing easy transit between job sites, unlike fixed cranes. Additionally, they boast swift installation and setup, along with self-decking and un-decking capabilities. However, the size of mobile cranes can impact travel time to lift locations.

The mobile crane market size was valued at $14.4 billion in 2021, and is estimated to reach $24.5 billion by 2031, growing at a CAGR of 5.3% from 2022 to 2031.

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Telescopic booms dominated the mobile crane market share in 2021 due to their user-friendly nature. All-terrain cranes, categorized by terrain type, hold a significant position in the market owing to their versatility and efficiency. These cranes offer substantial lifting capacity and exceptional mobility on various terrains, including rough and standard highways.

Wheel-mounted cranes, with their compact size and maneuverability, witness high demand globally. The market is primarily driven by a surge in infrastructure and construction activities, although mobile cranes have limited reach and lifting capacity compared to static cranes.
In 2021, Asia-Pacific emerged as the leading contributor to the mobile crane industry, with China playing a dominant role in both production and consumption. However, this concentration has impacted production operations in other countries. To address this competition, countries like the U.S., Germany, and other European nations are enhancing their manufacturing infrastructure for mobile cranes.

The integration of industry automation and remote operation has significantly enhanced mobile crane usability and operability while maintaining lower operational costs. Additionally, the introduction of hybrid cranes capable of operating on conventional fuel and electricity has bolstered mobile crane demand. Furthermore, improvements in aftermarket services are expected to further drive market growth.

Moreover, the construction segment is anticipated to witness rapid growth during the forecast period, driven by the introduction of highly maneuverable and high load-bearing capacity mobile cranes, along with increased demand in the infrastructure sector.

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Top Players:
Key companies profiled in the mobile crane market analysis report include, Altec Inc., Cargotec Corporation, Liebherr International AG, Manitowoc Company Inc., Sany Heavy Industry Co. Ltd., Tadano Ltd., Xuzhou Construction Machinery Group Co. Ltd. (XCMG), Zoomlion Heavy Industry Science and Technology Co. Ltd., and Kobelco Construction Machinery Co., Ltd.

Key Findings of the study

The report provides analysis of the current and emerging mobile crane market trends and dynamics.
By boom type, the telescopic boom segment dominated the mobile cranes market, in terms of revenue in 2021, and is projected to grow at a significant CAGR during the forecast period.
By carrier type, the track mounted segment is expected to grow at a higher CAGR during the forecast period.
By terrain type, the all-terrain segment is projected to grow at a higher CAGR during the forecast period.
By end-user industry, the construction segment registered highest revenue in 2021.
Asia-Pacific is anticipated to provides major mobile crane market opportunities.
The key players within the mobile crane market forecast report are profiled in this report, and their strategies are analyzed thoroughly, which help understand competitive outlook of the mobile cranes industry.

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