Government Led Construction Boom Is A Catalyst For Mobile Cranes Market Surge Driver: A Major Catalyst in the Evolution of the Mobile Cranes Market in 2025

What combination of drivers is leading to accelerated growth in the mobile cranes market?
The mobile cranes market is expected to flourish, fuelled by government initiatives promoting construction activities. With a global emphasis on improving infrastructure, construction of buildings and the placement of large installations commonly require the use of mobile cranes. As a specific example, data from the UK's Office for National Statistics in July 2024 indicated that infrastructure market sector investment had risen to an estimated $17.5 billion in 2023. This figure represents a growth rate of 3.9% from 2022, after adjusting for constant prices. Thus, the growth of the mobile cranes market is largely driven by these government initiatives.

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What is the projected compound annual growth rate (CAGR) of the mobile cranes market from 2025 to 2034, and what factors influence it?
The market size for mobile cranes has witnessed substantial growth in the past few years. The market, which was valued at $16.59 billion in 2024, is predicted to escalate to $17.65 billion in 2025, representing a compound annual growth rate (CAGR) of 6.4%. The historic acceleration in the market is linked to factors like a construction surge, infrastructure progression, heightened urbanization, exploration of oil and gas, port and shipyard expansions, augmentation in manufacturing, and public sector investments.

In the coming years, the market size of mobile cranes is anticipated to witness robust growth, expanding to $22.6 billion in 2029 with a compound annual growth rate (CAGR) of 6.4%. Factors attributing to this growth during the forecast period include increased safety norms, the proliferation of wind energy, emphasis on green construction, demand for small and all-terrain cranes, as well as improvements in infrastructure. Notable upcoming trends during this period include the integration of telematics and IoT, expansion in the rental market, infrastructure restoration and maintenance, customization for unique applications, and the digitization of crane operations.

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How are the latest trends influencing the growth of the mobile cranes market?
The surge of technological innovation has emerged as a prominent trend in the mobile cranes market, with major industry players adopting new technologies to maintain their competitive edge. For instance, the Liebherr Group, a Germany-based firm specializing in the production and processing of concrete, in June 2024 introduced the LTM 1400-6.1. This model features a 70-meter telescopic boom and an innovative Y-guying system that significantly improves its lifting capabilities, making it an optimal choice for intricate lifting tasks in sectors like construction, infrastructure, and industrial applications. The crane is specifically designed for swift and user-friendly setup and can become operational within minutes due to its self-assembly mechanism for the guying system. The LTM 1400-6.1 can manage heavy loads efficiently, thanks to its 140-ton ballast capacity and an integrated hydraulic ballasting device, eliminating the need for an auxiliary crane.

What are the major segments of the mobile cranes market and their role in driving growth?
The mobile cranes market covered in this report is segmented -

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

Subsegments:
1) By Truck Mounted Crane: All-Terrain Crane, Rough Terrain Crane, Telescopic Crane
2) By Trailer Mounted Crane: Compact Trailer Crane, Folding Trailer Crane
3) By Crawler Crane: Mini Crawler Crane, Standard Crawler Crane, Heavy Crawler Crane

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Which regions are key players in the growth of the mobile cranes market?
Asia-Pacific was the largest region in the mobile cranes market in 2024. The regions covered in the mobile cranes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the key firms paving the way for growth in the mobile cranes market?
Major companies operating in the mobile cranes market are 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., Tadano Limited, Xuzhou Construction Machinery Group Co. Ltd., Sumitomo Heavy Industries Limited, Cargotec Corporation, LiuGong Machinery Company Limited, Konecranes, Favelle Favco Group, Gorbel Inc., American Crane & Equipment Corp., Saginaw Products Corp., Zhenhua Heavy Industries Co. Ltd., Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd., Sarens NV, Sennebogen Maschinenfabrik GmbH, Link-Belt Cranes, Grove Worldwide LLC, Demag Cranes & Components GmbH, Hiab AB, Huisman Equipment B.V., Fassi Gru S.p.A., Effer S.p.A.

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What Is Covered In The Mobile Cranes Global Market Report?

• Market Size Forecast: Examine the mobile cranes market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the mobile cranes market for a structured understanding.
• Key Players Overview: Analyze major players in the mobile cranes market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the mobile cranes market.
• Segment Contributions: Evaluate how different segments drive overall growth in the mobile cranes market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the mobile cranes market.
• Industry Challenges: Identify potential risks and obstacles affecting the mobile cranes market.
• Competitive Landscape: Review strategic developments in the mobile cranes market, including expansions, agreements, and new product launches.

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