Mobile crane market rising at 3.5 % CAGR to 2028
Posted by kartik joshi on September 30th, 2022
The “ Mobile crane Market to 2025 by Crane Type(Truck Cranes, Crawler Cranes, All-Terrain Cranes, Rough Terrain Cranes and Others) and Application (Oil & Gas, Construction, Shipping & Port Building, Energy & Utilities and Others) – Global Analysis and Forecast” The scope of study involves understanding on the factors responsible for this growth of mobile crane market along with the estimates and forecasts of the revenue and market share analysis and also spots the significant mobile crane players in the market and their key developments.
Mobile Crane Market to 2025 – Global Analysis and Forecast by Crane Type and Application. Mobile crane market is expected to grow to US$ 9.82 billion by 2025 from US$ 8.92 billion in 2016. The constantly growing population has resulted in increased investments in the infrastructure and construction sector of various economies. Also, government initiatives for up gradation of existing infrastructure of the developed economies has resulted in increased demand for heavy construction machinery. Mobile cranes are extensively used in various applications including construction, oil & gas, shipping, etc. Furthermore, increased investments in the construction of power plants has also influenced the market growth particularly, in developing nations.
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The truck cranes are amongst the largest selling mobile crane types in the world, due to its flexibility in lifting and ability to travel. Truck cranes are mainly used in infrastructure development/ construction projects such as buildings, bridges, airports, roadways, and other commercial & residential projects. In general, these types of cranes can travel on highways, without need of special equipment to transport the crane.
Truck cranes offer several advantages, which makes them a foremost choice over other cranes. Truck cranes are simple to operate and requires less maintenance and operational costs during its lifecycle. Furthermore, these cranes offer higher highway travel speeds and ease of transportation as they are designed with a purpose-built chasse. These cranes deliver customers with outstanding lifting capabilities along with maintaining compactness as well as rigidity to handle heavier loads. Thus, the market for truck cranes possesses a huge growth opportunity for the Mobile Crane market during the forecasted period from 2017 – 2025.
The global mobile crane market by geography is segmented into five regions including North America, Europe, Asia Pacific, Middle East & Africa and South America. APAC region is expected to account for the largest share of the global mobile crane market in 2016, followed by Europe. The rapidly rising population of emerging economies in the APAC region has led to increased infrastructural as well as residential construction projects. This has resulted in increased demand for heavy construction machineries including mobile cranes. The key players profiled in the report are Kato Works Co. Ltd., Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd., Kobelco Construction Machinery Co., Ltd. and The Manitowoc Company, Inc. Also, Liebherr-International S.A., Tadano Ltd., Terex Corporation, Zoomlion Heavy Industry Science and Technology Co. Ltd., XCMG Construction Machinery Co., Ltd. and Sany Heavy Industry Co., Ltd. are other key companies in the mobile crane market.
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About the Authorkartik joshi
Joined: September 27th, 2022
Articles Posted: 141
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