Mobile Crane Market Size, Share & Analysis Report By Machine (Truck Mounted Crane, All Terrain Crane, Rough Terrain Crane, Crawler Crane, Others), By Application (Construction, Industrial, Marine and Offshore, Others) and Regional Forecasts, 2023 - 2032

Mobile Crane Market is estimated to be worth USD 17.67 Billion in 2024 and is projected to grow at a CAGR of 7% between 2024 to 2032. The study has considered the base year as 2023, which estimates the market size of the market, and the forecast period is 2024 to 2032. The report analyzes and forecasts the market size, in terms of value (USD Billion), for the market. The report segments the market and forecasts it by Machines, By Applications, and by region/country.

The construction sector nowadays has become highly mechanized. With a significant boom within the construction segment, there is a substantial shift to offsite prefabrication of structural and finished elements that are then installed or assembled rather than produced on-site. Therefore, production equipment is being replaced on the construction site by transportation equipment. As the material handling and lifting of the required equipment now dominates building construction sites more than ever. Here the mobile cranes play a very crucial role, as its name implies, it’s a self-propelled mobile machine, capable of moving freely on the site.

Differing from the vertical mast with a horizontal jib at its top within the tower crane, the mobile cranes jib, termed as “boom,” is inclined and connected directly to the machines carriage. If the tower cranes appear to be exceptional, mobile cranes features even more types and model.  These machine sizes ranges from mini-machines fitting in the back of a small truck to colossal models that dwarfs almost any other piece of construction method. Among other things, this machines are equally associated with the non-building operations, such as excavation and pile driving. Even today these machines find their initial use into variety of civil engineering projects other than building construction.

After reviewing the data shown below, it can be determined that the Asia Pacific region dominates the Mobile Crane Market for the following reasons.
The Asia Pacific region is currently dominating the Mobile Crane markets due to increasing investments within the construction sector in the region. China has implemented various investments within the real estate sector. As real estate plays a significant role in the contributing about 4.3% from real estate construction to the China’s GDP has significantly pushed the growth within the Mobile Cranes Market in the region. And also due the initiative by the China’s massive Belt and Road Initiative (BRI) the utilization of these kind of cranes will push the market growth further.

Segmentations

By Machine

Based on Machine, the Mobile Cranes Market is bifurcated into Truck Mounted Crane, All Terrain Crane, Rough Terrain Crane, Crawler Crane and Others– where Truck Mounted Cranes are dominating and ahead in terms of share. The Truck Mounted Cranes segment is dominating the Mobile Cranes market significantly because it has higher ground bearing pressure, due to the pneumatic tyres on which they usually travel from one destination to another. On a firm and dry surface, a truck mounted crane can climb greater heights than crawler-mounted cranes. And it also has a simpler setup due to the truck chassis base, which makes the Truck Mounted Crane dominate the Mobile Cranes Market.

By Application

Based on Application, the Mobile Cranes Market is bifurcated into Construction, Industrial, Marine and Offshore and Others– where Construction segment is dominating and ahead in terms of share.

Key Players

• Liebherr International AG
• Terex Corporation
• Tadano Ltd.
• Zoomlion Heavy Industry Science and Technology Co., Ltd.
• XCMG Construction Machinery Co., Ltd.

DRIVERS

Increasing Demand within the Construction Sector
The increasing construction demand within various geographical regions has been a significant market growth driver in the Mobile Cranes Market. The recent investments within the construction sectors, such as the real estate and transportation initiatives, and also due to the rigorous growth in the population within many geographical regions, which has also prioritised infrastructural projects to accommodate the population, have given the Mobile Cranes Market a substantial push.

OPPORTUNITY

Technological Advancements such as Interactive Control Systems for Mobile Cranes.
The technologically controlled systems for mobile cranes have been a crucial advancement within the mobiles cranes market. The control system features interactive communication based on speech, machine vision, AR, as well as the interactive controllers offering force feedback. The systems within the smart control systems in the mobile cranes consist of speech and natural language processing method, tracking cameras, laser trackers, topography scanners, photogrammetric cameras etc. Smart control of mobile cranes combines functions of sensing of device working condition actuation and control of mechanical and mechatronic systems, in order to analyse and model a task or situation, to make decisions based on the collected data in a predictive manner. On the basis of these information collected it performs smart control actions for lifting devices and processes. These systems address safety, efficiency & ergonomic challenges like optimization, automations, supervision, adaptability etc. which significantly opens new door for the market growth opportunity within the Mobile Crane Market.