Burgeoning investments in the construction sector for infrastructure development to drive the usage of mobile cranes whose market is forecasted to grow at a CAGR of 2.16%
Published Date : 09/09/2017
According to a new market research study titled 'Mobile Crane Market to 2025 - Global Analysis and Forecasts by Crane Type and Application', the global mobile crane market was valued at US$ 8.32 Bn in 2016 and is estimated to reach US$ 9.82 Bn by 2025. The report highlights the trends prevalent in the global Mobile Crane market and the factors driving the market along with those that act as deterrents to its growth.
Since the turn of century, escalation in infrastructure investment is considered to be one of the most critical sources of rising consumer demand. This rise in the investment and the desire of the potential investors to capitalize into this industry has grown stronger over the years. The specialist investors across the globe in recent years have come up with a wide array of developed as well as developing infrastructure such as the water companies of UK and airports in Australia comprising of broad range of energy, telecom and port infrastructure in between.
Also, the government across the globe are taking up initiatives to boost the growth of investment in infrastructural development. Owing to several developing countries in the Asia Pacific region coupled with the rapidly increasing population and significant investments made by the governments of various economies for their infrastructure development, the demand for mobile cranes is expected to increase in the APAC region. The developing economies including China, India and Southeast Asian countries are witnessing a growth in FDIs for the development of infrastructure in the region. This is due to various government's approach to attract FDIs. This would further propel the demand for heavy construction machineries including mobile cranes. Also, owing to massive industrialization in the region, the demand for equipment with high capacity lifting is increasing in the region.
The global mobile crane market has been segmented on the basis of Crane Type into crawler cranes, truck cranes, all-terrain cranes, rough terrain cranes and others. Mobile Cranes find their applications into two construction sector, oil & gas sector, energy & utilities, shipping & port building and others sector. Geographically, the global mobile crane market is segmented into Europe, Middle East & Africa (MEA), North America, Asia Pacific (APAC) and South America (SAM).
APAC with large number of emerging countries along with high rate of industrializing and growing urbanization is leading the mobile crane market. Europe market stood at the second largest market for mobile cranes owing to increasing investments in renewable energy application. The key players profiled in the report are Tadano Ltd., The Manitowoc Company, Inc., Kobelco Construction Machinery Co., Ltd., Sany Heavy Industry Co., Ltd., Zoomlion Heavy Industry Science and Technology Co. Ltd., Liebherr-International S.A., Terex Corporation, Kato Works Co. Ltd., XCMG Construction Machinery Co., Ltd. and Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
Global Mobile Crane Market Breakdown by Regions, 2016 (%)
Source: The Insight Partners Analysis
The report segments the global mobile crane market as follows:
Global Mobile Crane Market - By Crane Type
Rough Terrain Cranes
Global Mobile Crane Market - By Application
Oil & Gas
Power & Utilities
Shipping & Port Building
Global Mobile Crane Market - By Geography
Asia Pacific (APAC)
Middle East & Africa (MEA)
South America (SAM)