Press release
Mobile Cranes Market: Notable Growth, Key Drivers, and Market Trends Forecast 2024-2029
Mobile Cranes Market
Projected to Soar: Global Mobile Cranes Market Growth and Size
What Is The Projected Market Size Of The Global Mobile Cranes Market And Its Growth Rate?
The global mobile cranes market has showcased remarkable growth over the past years and is set to continue this trend. Here are some key statistics:
• 2024 Market Size: $16.59 billion
• 2025 Market Size: $17.65 billion (6.4% CAGR)
• 2029 Market Size: $22.6 billion (6.4% CAGR)
The growth can be attributed to construction boom, infrastructure development, increased urbanization, oil and gas exploration, port and shipyard development, growth in manufacturing, government investments, and safety regulations among other factors.
What Is Driving The Growth In The Mobile Cranes Market?
Government initiatives focusing on construction activities are significant drivers for the growth of the mobile cranes market. Both the construction of buildings and installation of massive equipment make substantial use of mobile cranes. As an example, the Office for National Statistics, a UK-based institution, noted that in 2023, total investment in the infrastructure market sector amounted to approximately $17.5 billion. This reflects a 3.9% increase from 2022 when adjusted for constant prices. Therefore, such vigorous government initiatives are substantively driving the growth of the mobile cranes market.
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Who Are the Key Players Driving Mobile Cranes Market Growth?
The mobile cranes market growth is largely influenced by major corporations including:
• Kobelco Construction Machinery Co. Ltd.
• Palfinger AG
• Bauer AG
• SANY Group
• Zoomlion Heavy Industry Science and Technology Co. Ltd.
• Manitowoc Company Inc.
• Manitex Inc.
• Liebherr Group
• Kato Works Co. Ltd, among others.
What Are The Key Trends In The Mobile Cranes Market?
Noteworthy trends in the mobile cranes market include:
• Integration of telematics and IoT technologies
• Growth in the rental market
• Infrastructure rehabilitation and maintenance
• Customization applications
• Advancements in digital crane operations
What Are The Segments Of The Global Mobile Cranes Market?
The mobile cranes market report divides the market into segments:
1) By Product Type: Truck Mounted Crane, Trailer Mounted Crane, Crawler Crane
2) By Terrain Type: On road, Rough Terrain, All Terrain
3) By Application Type: Construction And Mining, Utility, Manufacturing, Transport Or Shipping, Oil And Gas Or Energy
Which Region Leads The Mobile Cranes Market?
In 2024, Asia-Pacific held the largest share of the mobile cranes market. The report covers all regions including Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
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What Is Covered In The Mobile Cranes Market Global Market Report?
- Market Size Analysis: Analyze the Mobile Cranes Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Mobile Cranes Market for effective categorization.
- Key Player Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Mobile Cranes Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Mobile Cranes Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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