Press release
Mobile Construction Cranes Market to Reach USD 17.2 Billion by 2035 | Fact.MR Report
Browse for Full Report: https://www.factmr.com/report/2299/mobile-construction-cranes-market
Why Is the Market Growing?
The surge in global infrastructure investments, such as the U.S.'s USD 1.2 trillion Infrastructure Investment and Jobs Act and India's USD 1.4 trillion National Infrastructure Pipeline, drives demand for mobile construction cranes, with construction spending rising 6% globally in 2024. Renewable energy projects, particularly wind farms with 900 GW installed capacity by 2024, rely on cranes for turbine installation, boosting demand by 8%.
Urbanization, with 60% of the global population projected to live in cities by 2030, fuels high-rise construction, increasing crane usage by 10%. Innovations like Liebherr's 2024 hybrid LTM 1150-5.3 crane, with 15% lower emissions, align with sustainability goals, while advanced safety features, such as AI-based load monitoring, reduce accidents by 20%. High costs (USD 500,000-2 million per crane) are offset by rental models, adopted by 40% of contractors in 2024.
What Are the Key Market Projections?
The market is set to create an absolute dollar opportunity of USD 5.6 billion by 2035, growing from USD 11.6 billion in 2025 to USD 17.2 billion at a 4.0% CAGR. The truck-mounted crane segment, holding a 60% share in 2025, is projected to grow at a 4.2% CAGR, generating USD 2.5 billion in opportunities due to its mobility and versatility. Asia-Pacific, with a 40% share in 2025, leads with a 5.0% CAGR, driven by China's Belt and Road Initiative and India's infrastructure boom.
North America, supported by a 4.2% CAGR, benefits from U.S. projects valued at USD 550 billion in 2024. Historical growth from 2020 to 2024 averaged a 3.8% CAGR, with momentum expected to continue. Short-term growth (2025-2028) focuses on urban construction, while long-term trends (2029-2035) emphasize renewable energy and smart cranes.
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How Can Stakeholders Leverage Opportunities?
Stakeholders in construction, renewable energy, and logistics can capitalize by investing in eco-friendly cranes, like Tadano's 2024 electric models, which cater to green construction mandates. Partnerships, such as Zoomlion's 2023 collaboration with Indian contractors, enhance market penetration in high-growth regions like Asia-Pacific, projected to reach USD 7 billion by 2030.
Focusing on rental services, which accounted for 35% of market revenue in 2024, offers cost-effective solutions for small contractors. Compliance with OSHA and EU safety standards ensures market trust, while targeting emerging markets like India, with a 6% CAGR, unlocks significant potential. Developing compact cranes for urban sites, like Jekko's 2024 AI-powered mini cranes, addresses space constraints in city projects.
What Does the Report Cover?
Fact.MR's comprehensive report analyzes the Mobile Construction Cranes Market across 30+ countries, covering segments by product type (truck-mounted cranes, crawler cranes, all-terrain cranes, rough terrain cranes), capacity (below 20 tons, 20-100 tons, 100-200 tons, above 200 tons), application (construction, infrastructure, mining, oil & gas, power generation), and region (North America, Latin America, Europe, East Asia, South Asia & Oceania, Middle East & Africa). It highlights trends like hybrid and electric cranes, automation, and rising rental demand.
Combining primary research from industry experts and secondary data, the report provides actionable insights into market dynamics, competitive strategies, and growth opportunities through 2035.
Who Are the Market Leaders?
Key players include Liebherr, Zoomlion, Trex Corporation, Manitowoc, and SANY Group. Liebherr's 2024 launch of the LTM 1150-5.3 telescopic boom crane strengthened its market share, while Zoomlion's 2023 high-capacity models gained traction in Asia-Pacific. These companies, holding over 50% of the market, drive innovation through R&D and strategic partnerships, such as SANY's 2024 collaboration with U.S. renewable energy firms. Regional players like Tadano and Konecranes focus on sustainable and automated solutions, enhancing competitiveness.
What Are the Latest Market Developments?
In 2024, global construction spending reached USD 12 trillion, boosting crane demand by 7%. Renewable energy projects, particularly offshore wind farms, increased crane usage by 10%, with Europe's 2024 investments reaching USD 50 billion. Asia-Pacific's dominance, with China and India contributing 60% of regional demand, is driven by projects like India's Bharatmala Pariyojana.
Innovations like XCMG's 2024 AI-based safety cranes improved efficiency by 15%, while rental services grew by 12% in North America. Regulatory advancements, such as the EU's 2024 emission standards, accelerated adoption of electric cranes by 20%.
What Challenges and Solutions Exist?
High crane costs (USD 500,000-2 million) and stringent regulations, delaying approvals by 12-18 months, pose challenges. Supply chain disruptions, impacting 15% of crane deliveries in 2024, and skilled operator shortages, affecting 20% of projects, hinder growth. Solutions include expanding rental models, reducing capital costs by 30%, and investing in operator training programs, adopted by 25% of U.S. firms in 2024.
Localized production in Asia-Pacific, implemented by companies like SANY, mitigates supply chain risks by 10%. Sustainable crane designs, like hybrid models, address environmental concerns, aligning with global ESG goals.
Conclusion:
The Global Mobile Construction Cranes Market is set to reach USD 17.2 billion by 2035, driven by a 4.0% CAGR. With infrastructure expansion, renewable energy growth, and urbanization driving demand, the market offers transformative opportunities. Stakeholders can leverage Fact.MR's insights to target high-growth regions like Asia-Pacific and North America, invest in sustainable and automated cranes, and address cost and regulatory challenges to thrive in this critical industry.
Check out More Related Studies Published by Fact.MR Research:
All-terrain Cranes Market: https://www.factmr.com/report/1907/all-terrain-cranes-market
Truck Cranes Market: https://www.factmr.com/report/2169/truck-crane-market
Crawler Cranes Market: https://www.factmr.com/report/2236/crawler-cranes-market
Recycled Construction Aggregates Market: https://www.factmr.com/report/2890/recycled-construction-aggregates-market
Hybrid Construction Equipment Market: https://www.factmr.com/report/3491/hybrid-construction-equipment-market
STS (Ship-to-Shore) Cranes Market: https://www.factmr.com/report/4381/sts-ship-to-shore-cranes-market
Boom Cranes Market: https://www.factmr.com/report/boom-cranes-market
Used Construction Equipment Market: https://www.factmr.com/report/used-construction-equipment-market
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