Future of the Mobile Cranes Market: Trends, Innovations, and Key Forecasts Through 2034

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Mobile Cranes Market Size Growth Forecast: What to Expect by 2025?
In recent times, the mobile cranes market has seen consistent growth. The market is expected to increase from $16.59 billion in 2024 to $17.31 billion in 2025, representing a compound annual growth rate (CAGR) of 4.3%. The surge in growth during the historical period can be linked to numerous factors, including a construction boom, advances in infrastructure, increased levels of urbanization, expanded oil and gas exploration, port and shipyard development, growth in the manufacturing sector, and governmental investments.

How Will the Mobile Cranes Market Size Evolve and Grow by 2029?
In the coming years, the mobile cranes market is projected to experience robust expansion. The market size is anticipated to reach $21.6 billion in 2029 with a Compound Annual Growth Rate (CAGR) of 5.7%. Factors contributing to this projected growth within the forecast period include enhancements of safety regulations, the proliferation of wind energy, prioritization of sustainable construction, a surge in demand for compact and all-terrain cranes, as well as modernization of infrastructure. Some key trends expected to be observed during the forecast period comprise the incorporation of telematics and the Internet of Things (IoT), expansion in the rental market, maintenance and rehabilitation of infrastructure, customization for unique applications, and the digital transformation of crane operations.

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What Drivers Are Propelling the Growth of Mobile Cranes Market Forward?
The expansion of the mobile cranes market is expected to be fueled by government initiatives promoting construction activities. With the objective of infrastructure improvement, numerous global governments are bolstering construction projects which consequently drive the demand for mobile cranes - a common sight at building construction sites and areas necessitating the installation of heavy machinery. As reported by the Office for National Statistics in the United Kingdom, the infrastructural sector saw an investment of nearly $17.5 billion in 2023, marking a 3.9% increase from the previous year, once adjusted for static prices, as of July 2024. Hence, it's evident that government actions are propelling the advancement of the mobile cranes market.

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What Are the Key Trends Driving Mobile Cranes Market Growth?
The rise in technological innovations has become a significant trend in the mobile cranes market, enjoying widespread acceptance. Big players in the market are utilizing these new technologies to maintain their standing. For example, in June 2024, the Germany-based manufacturing firm Liebherr Group, known for its concrete production and processing specialization, released the LTM 1400-6.1. This product features a 70-meter telescopic boom and a unique Y-guying system that significantly improves its lifting power, making it well-suited for intricate lifting jobs across construction, infrastructure, and industrial sectors. The crane is designed for quick and easy setup and can be ready to operate within minutes thanks to its self-assembly mechanism for the guying system. The LTM 1400-6.1, with its 140-ton ballast capacity and a built-in hydraulic ballasting device, is able to proficiently handle heavy-duty loads without the requirement for a secondary crane.

What Are the Key Segments in the Mobile Cranes Market?
The mobile cranesmarket 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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Who Are the Key Players Shaping the Mobile Cranes Market's Competitive Landscape?
Major companies operating in the mobile cranes market are T Corporation, 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.

What Geographic Markets Are Powering Growth in 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.

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