Mobile Crane Market Analysis and Forecast by Size, Share, Growth, Trends 2031

Mobile Crane Market Size and Forecast (2021 - 2031), Global and Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: 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)

  • Report Code : TIPTE100000473
  • Category : Automotive and Transportation
  • No. of Pages : 150
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Mobile Crane Market Size and Share Report by 2031

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The mobile crane market size is projected to reach US$ 30,804.3  million by 2031 from US$ 19,637.58 million in 2023. The market is expected to register a CAGR of 5.8% during 2023–2031. The increasing construction activities across the globe driving the trend in the market.

Mobile Crane Market Analysis

OEMs in the global mobile crane market carry out various processes such as designing, assembling, and transforming of raw material into finished products. Liebherr-International S.A.; Terex Corporation; Tadano Ltd.; Zoomlion Heavy Industry Science and Technology Co. Ltd.; XCMG Construction Machinery Co., Ltd.; SANY Heavy Industry Co., Ltd. Kato Works Co. Ltd.; KOBELCO Construction Machinery Co., Ltd.; Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.; The Manitowoc Company, Inc. among others, are some of the leading players in the mobile crane market. The companies are offering a wide range of products including truck cranes, all-terrain cranes, rough terrain cranes, crawler cranes, and others.

Mobile Crane Market Overview

The mobile crane market ecosystem comprises the following stakeholders – raw material providers, mobile crane component manufacturers, OEMs, and end users. Major players occupy significant places in the various nodes of the mobile crane market ecosystem. The raw material providers supply the components such as steel plate along with cut-to-length standard structural pipe that are fabricated into structures by welders. The various subassemblies all feed into a central assembly line for a specific type and model of crane. At the assembly line, steel components are joined, electronics are added, and depending on the specifications of a given crane, additional components or accessories are added. Component manufacturers provides hook, hoist, trolley, bridge, load measurement system, lifting magnets among others for the cranes.

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Mobile Crane Market: Strategic Insights

Mobile Crane Market

  • CAGR (2023 - 2031)
    5.8%
  • Market Size 2023
    US$ 19,637.58 Million
  • Market Size 2031
    US$ 30,804.3 Million

Market Dynamics

GROWTH DRIVERS
  • Increasing Demand of Portable Mobile Cranes Drives the Market Growth
FUTURE TRENDS
  • The increasing demand for the autonomous cars driving the trend in the market.
OPPORTUNITIES
  • Reduced Fuel Consumption of Mobile Cranes

Key Players

  • Liebherr-International S.A.
  • Terex Corporation
  • Tadano Ltd.
  • Zoomlion Heavy Industry Science and Technology Co. Ltd.
  • XCMG Construction Machinery Co., Ltd.
  • SANY Heavy Industry Co., Ltd. Kato Works Co. Ltd.
  • KOBELCO Construction Machinery Co., Ltd.
  • Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
  • The Manitowoc Company, Inc.

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Crane Type
  • Truck Cranes
  • All-terrain cranes
  • Rough Terrain Cranes
  • Crawler Cranes
Application
  • Construction
  • Oil and Gas
  • Shipping and Port Building
  • Power and Utilities
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Mobile Crane Market Drivers and Opportunities

Increasing Demand of Portable Mobile Cranes Drives the Market Growth

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.

Development of large intralogistics center in South-East Asia

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 centre. The economy of Southeast Asian countries is expanding with the steadily increasing 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.

Reduced Fuel Consumption of Mobile Cranes

Growing trends of high-performance products with fuel efficiency and reduced carbon emission and have encouraged the Companies in the mobile crane market to innovate their product portfolio and strengthen its presence in the fast-growing truck crane category. As a result, Sany Heavy Industry India pt. Ltd. launched its advanced CEV Stage IV emission-compliant cranes that consumes less power and provide stability and safety during operation. The advanced crane’s maximum load-lifting capacity is 25 ton at a working radius of 3mts and a maximum boom length of 33.5m. The STC450C is fuel-efficient and has an adjustable hydraulic system with intelligent electric controls. The increase in the number of infrastructural projects across the globe has increased the demand for cranes with advanced mechanized solutions, high-loading capacities, low fuel consumption, and easy maintenance.

Models of mobile cranes now have driven and control systems with a variety of optional features that assist to minimize fuel consumption and increase productivity and dependability. When the engine is in idle mode, the complete pump drive is disengaged automatically, and when power is necessary, it is turned on in a couple of seconds utilizing intelligent control. The software provides signals to the electronic engine, which adjusts its RPM automatically according on the lifting needs at the job site. For instance, Zoomlion manufactures mobile cranes that has an energy-saving system that operates at multiple power modes and the average fuel consumption has been reduced by 20 %, down to 4.5 liters per hour. Zoomlion has also designed the crane’s cabs and operator information panel to be as ergonomic and safe as possible, thus maximizing potential overseas demand.

Mobile Crane Market Report Segmentation Analysis

Key segments that contributed to the derivation of the mobile crane market analysis are crane type, application, and geography.

  • 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 truck cranes segment held the largest market share in 2020. The All-terrain cranes segment is anticipated to grow at a highest CAGR during the forecasted period. All-terrain cranes, specifically of the 100 to 250-ton range are the highest in demand for their capacity and flexibility.
  • Based on application, the global mobile crane market is segmented into construction, oil and gas, shipping and port building, power and utilities, and others. The construction segment held the largest market share in 2020. The Oil and Gas segment is anticipated to grow at a highest CAGR during the forecasted period. Offshore mobile cranes are increasingly being deployed for the oil and gas extraction processes.

Mobile Crane Market Share Analysis by Geography

The geographic scope of the mobile crane market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.

Asia Pacific is the fastest growing region owing to increasing construction activities across the globe. Further, the European mobile crane market is primarily driven by a considerable increase in construction equipment rental and leasing, in addition to the proliferation of the construction sector, across the continent. This has made it easier for end users to access and utilize construction equipment across a wide range of applications. In addition, the US was among the top countries deeply affected by the pandemic. Ongoing infrastructure projects and construction sites were on halt during this time; this deeply affected the market for mobile cranes. Soon after Q3 of 2021, governments lifted several regulations and measures to overcome the losses faced by the mobile crane market in North America.

Mobile Crane Market Report Scope

Report Attribute Details
Market size in 2023 US$ 19,637.58 Million
Market Size by 2031 US$ 30,804.3 Million
Global CAGR (2023 - 2031) 5.8%
Historical Data 2021-2022
Forecast period 2023-2031
Segments Covered By Crane Type
  • Truck Cranes
  • All-terrain cranes
  • Rough Terrain Cranes
  • Crawler Cranes
By Application
  • Construction
  • Oil and Gas
  • Shipping and Port Building
  • Power and Utilities
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Liebherr-International S.A.
  • Terex Corporation
  • Tadano Ltd.
  • Zoomlion Heavy Industry Science and Technology Co. Ltd.
  • XCMG Construction Machinery Co., Ltd.
  • SANY Heavy Industry Co., Ltd. Kato Works Co. Ltd.
  • KOBELCO Construction Machinery Co., Ltd.
  • Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
  • The Manitowoc Company, Inc.
    • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

    Mobile Crane Market News and Recent Developments

    The mobile crane market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the Mobile Crane Market are listed below:

    • ACE - Action Construction Equipment (ACE) launched first fully electric one of the mobile cranes with 180 tons lifting capacity. It is the first aerial work platforms launched at Bauma Conexpo show 2023. (Source: Company Website, February 2024)
    • Liebherr Group planned to launch another crane model equipped with the new LICCON3 control system: the LTM 1300-6.3 is becoming the LTM 1300-6.4. Three models in the LTM series are now characterised by the company's new trend-setting crane design. Liebherr will present the LTM 1300-6.4 at Intermat in Paris, France. (Source: Company Website, March 2024)

    Mobile Crane Market Report Coverage and Deliverables

    The “Mobile Crane Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:

    • Mobile crane market size and forecast at global, regional, and country levels for all the key market segments covered under the scope
    • Mobile crane market trends as well as market dynamics such as drivers, restraints, and key opportunities
    • Detailed PEST and SWOT analysis
    • Mobile crane market analysis covering key market trends, global and regional framework, major players, regulations, and recent market developments
    • Industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments for the mobile crane market
    • Detailed company profiles
    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Crane Type and Application

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

    Frequently Asked Questions


    What is the expected CAGR of the mobile crane market?

    The market is expected to register a CAGR of 5.8% during 2023–2031.

    What would be the estimated value of the mobile crane market by 2031?

    The mobile crane market size is projected to reach US$ 30,804.3 million by 2031 from US$ 19,637.58 million in 2023.

    Which are the leading players operating in the mobile crane market?

    Liebherr Group, 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. are some of the leading players in the mobile crane market.

    What are the driving factors impacting the mobile crane market?

    Increasing Demand of Portable Mobile Cranes Drives the Market Growth

    What are the future trends of the mobile crane market?

    The increasing construction activities across the globe driving the trend in the market.

    Which region dominated the mobile crane market in 2023?

    Asia Pacific is expected to dominate the mobile crane market in 2023.

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