Mobile Crane Market Size, Share | Global Industry Growth 2028

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Mobile Crane Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Crane Type (Truck Cranes, All-terrain cranes, Rough Terrain Cranes, Crawler Cranes, and Others) and Application (Construction, Oil and Gas, Shipping and Port Building, Power and Utilities, and Others)

Publication Month: Mar 2022 | Report Code: TIPTE100000473 | No. of Pages: 153 | Category: Automotive and Transportation | Status: Published

The Mobile Crane Market is expected to grow from US$ 17,547.16 million in 2021 to US$ 22,261.76 million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028.

A mobile crane is either a cable-controlled crane installed on crawlers or rubber-tired carriers or a hydraulic-powered crane with a telescoping boom mounted on truck-type carriers or self-propelled variants. They are meant to be readily transported to a location and used with various load and freight categories with little or no setup or installation requirements. Mobile cranes use a boom with a suspended hook through a wire rope and sheaves that are driven by the prime movers available with designers using a variety of transmissions, which include internal combustion engines (IC), steam engines, and electric motors. On the older cranes, the transmissions are usually carried out by clutches. However, required changes were made later into the old cranes transmission mechanisms when IC engines were incorporated to attain the highest torque at zero speed. In the steam engines driven cranes, a hydrokinetic element culminates in controlled torque converters. This configuration offers the operational advantages which may now be achieved through electronic control of hydrostatic drives, which is gaining rapid popularity due to size and other factors.

Strategic Insights

Report Coverage - Mobile Crane Market
Report CoverageDetails
Market Size Value inUS$ 17,547.16 million in 2021
Market Size Value byUS$ 22,261.76 million by 2028
Growth rateCAGR of 3.5% from 2021 to 2028.
Forecast Period2021- 2028
Base Year2021
No. of Pages153
No. of Tables61
No. of Charts & Figures75
Historical data availableYes
Segments coveredCrane Type and Application
Regional scopeNorth America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country scopeUS, Canada, Mexico, UK, Germany, Russia, Italy, France, India, China, Japan, South Korea, Australia, UAE, Saudi Arabia, South Africa, Brazil, Argentina
Report coverageRevenue forecast, company ranking, competitive landscape, growth factors, and trends
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Impact of COVID-19 Pandemic on Mobile Crane Market

The COVID-19 outbreak had a mild negative effect on the mobile crane market in 2020. This can be attributed to a decline in revenue and growth of companies operating in the market due to supply and demand disruptions across the value chain. However, with the increase in vaccination, restrictions are lifted, which is favoring the resumption of production activities in the residential and commercial sectors. This is expected to normalize the mobile crane market growth over the forecast period of 2021–2028. Many construction and infrastructure sites across the world, which are major business sites for cranes, were shut down due to the lockdown orders of governments. However, in some regions, mining activities were declared essential and running through the lockdown, which created a lucrative opportunity for the mobile crane market.

Lucrative Regions for Mobile Crane Providers

Lucrative Regions for Mobile Crane Providers

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Mobile Crane Market Insights
Rising Demands from Construction Industry

The construction industry is growing and becoming more complex every day. According to the Texas Workforce Commission (US), the construction industry in the US is expected to grow at a CAGR of 27.8% during 2014‒2024. Furthermore, the industry is experiencing steady growth in APAC and Europe due to increased spending on infrastructure developments. Rising urbanization in China, India, the US, the UK, Indonesia, and the Philippines has triggered infrastructure investments, and the demand for associated equipment and gadgets. Furthermore, with the implementation of new development plans and the subsequent beginning of projects, the use of construction equipment is increasing rapidly. Tower cranes and mobile cranes are widely employed in the building sector. Tower cranes make it easier to lift and move raw materials and items during the construction of medium- to high-rise buildings. On the ground level, mobile cranes are required to transfer heavy building materials such as cement bags, bricks, and iron beams. With the application of fundamental mechanics, cables, and hoists, these cranes can carry huge weights that are well beyond the capabilities of a human. Thus, such vital functions served by mobile cranes have increased their demand in the construction industry, which is driving the market growth.

Application-Based Market Insights

Mobile cranes are critical instruments used on every construction job site across the world. Less manpower can securely move huge and heavy objects, and finish jobs faster than manual lifting. Carry deck cranes are the new type of cranes evolved from the earlier pick and carry form unveiled in the 1980s. When fixed to the ground, this crane type often gives the best of height and lift capabilities. Carry deck cranes are more portable than other types of cranes since they are tiny, have four wheels, and can spin completely through 360°. Cranes used in the oil & gas sector are subjected to tough environments, such as saltwater, sand, debris, and high temperatures. Field personnel on the platform rely on the tough and dependable performance of offshore rig-lifting equipment. The performance capacity, size, and construction method of cranes vary according to the requirements. For instance, offshore cranes from Liebherr are used to install, maintain, and supply oil and gas extraction equipment.

Mobile Crane Market, by Application – 2020 and 2028 (%)     

Mobile Crane Market, by Application – 2020 and 2028 (%)     

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Players operating in the mobile crane market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below.

  • In 2022, Tadano Ltd. launched the AC 2.040-1—the world’s first all-terrain crane to be developed jointly by Tadano's Lauf and Zweibrücken locations in Germany. The AC 2.040-1 is the first member of the future Tadano AC family.
  • In 2021, Terex Cranes announced that Terex Rough Terrain Cranes can be fitted with the T-Link Telematics Platform, which provides customers with real time information on the performance of their crane.

On the basis of crane type, the mobile crane market is segmented into truck cranes, all-terrain cranes, rough terrain cranes, crawler cranes, and others. Based on application, the mobile crane market is segmented into construction, oil & gas, shipping & port building, power & utilities, and others. Based on geography, the mobile crane market is segmented into five major regions—North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and South America (SAM).

Company Profiles

  • LIEBHERR-INTERNATIONAL DEUTSCHLAND GMBH
  • Terex Corporation
  • Tadano Ltd
  • Zoomlion Heavy Industry Science & Technology Co., Ltd
  • Xuzhou Construction Machinery Group Co., Ltd
  • Sany Group
  • KATO WORKS CO., LTD
  • Kobelco Construction Machinery Co., Ltd.
  • Sumitomo Heavy Industries Construction Cranes Co., Ltd
  • The Manitowoc Company, Inc

Frequently Asked Questions

The fundamental advantage of mobile cranes is their compactness and ease of access at small building sites, particularly in urban settings. Mobile cranes require less site area to operate than tower cranes and accomplish the same activities as fixed cranes. Furthermore, transportable cranes do not need to be assembled at each location, saving time and decreasing labor requirements. Liebherr introduced the MK 73-3.1 mobile construction crane in March 2021, which is the smallest in Liebherr's mobile construction crane family. The new product complements the crane series of the company, which includes the MK 88-4.1 and MK 140. The compact 3-axle crane provided by the companies is the market's response to the desire for a tiny, compact, and agile, mobile construction crane exhibiting quick and versatile operations. Such developments in the functionalities are propelling the mobile crane market growth.
The rising e-commerce sector in Southeast Asia supports the expansion of the market for warehousing and intralogistics in this region. The region encompasses 11 country-level markets at varying levels of growth; hence, it is rapidly becoming an economic center. The economy of Southeast Asian countries is expanding with the steadily increasing a middle-class population. According to statistics obtained from the International Monetary Fund, the aggregate GDP of all ASEAN countries is expected to be US$ 4.37 trillion by 2024. Southeast Asia's rapid economic development also propels the e-commerce and retail industries in this region. According to Facebook and Bain & Company’s annual SYNC Southeast Asia report, digital spending per person is up 60% compared to last year, with overall e-commerce sales set to double by 2026 as SEA consumers are not just spending more online as forecasted in 2020, more of them (45%) are using online as a primary purchase channel. The economic favorability is encouraging third party logistics (3PL) businesses to invest in crane production for addressing the growing needs for these machines at docks and warehouses. As a result, the ongoing development of a large-scale intralogistics center in Southeast Asia offers notable opportunities for international mobile crane manufacturers to expand their presence in this region.
Based on Crane Type, the global Mobile Crane market is segmented into Truck Cranes, All-terrain cranes, Rough Terrain Cranes, Crawler Cranes, and Others. The Mobile Crane market was dominated by the Truck Cranes segment in 2020.
Asia Pacific dominated the Mobile Crane market in 2020 with a share of 36.1% and is expected to continue its dominance by 2028. Europe is the second-largest contributor to the global Mobile Crane market in 2020, followed by North America.
The major companies in Mobile Crane market are LIEBHERR-INTERNATIONAL DEUTSCHLAND GMBH; Terex Corporation; Tadano Ltd.; Zoomlion Heavy Industry Science & Technology Co., Ltd.; Xuzhou Construction Machinery Group Co., Ltd.; Sany Group; KATO WORKS CO., LTD; Kobelco Construction Machinery Co., Ltd.; Sumitomo Heavy Industries Construction Cranes Co., Ltd.; and The Manitowoc Company, Inc.
The major Application in Mobile Crane includes Construction, Oil and Gas, Shipping and Port Building, Power and Utilities, and Others. In terms of market share, the market was dominated by the Construction segment in 2020.

The List of Companies - Mobile Crane Market 

  1. LIEBHERR-INTERNATIONAL DEUTSCHLAND GMBH
  2. Terex Corporation
  3. Tadano Ltd
  4. Zoomlion Heavy Industry Science&Technology Co., Ltd
  5. Xuzhou Construction Machinery Group Co., Ltd.
  6. Sany Group
  7. KATO WORKS CO., LTD
  8. Kobelco Construction Machinery Co., Ltd
  9. Sumitomo Heavy Industries Construction Cranes Co., Ltd.
  10. The Manitowoc Company, Inc.
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players, and segments in the mobile crane market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in the mobile crane market thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing, and distribution
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