The global mobile cranes market is estimated to grow at a CAGR of 5.9% during the forecast period. The market was valued at nearly $14.7 billion in 2019, which is estimated to teach nearly $22.0 billion in 2026. Some crucial factors encouraging market growth include the rising investment in infrastructure projects and significant growth in the mining sector. As per the USA Facts, in 2019, the US Federal government invested $29 billion in infrastructure and transferred an additional $67 billion in infrastructure expenditure to the US states. Half of the federal transportation investment witnessed for highways, with rail and air is the next major classes. Growth in infrastructure spending has also witnessed in emerging nations such as China and India, owing to the rising investment in port infrastructure and growth in the tourism sector in these countries.
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This is resulting in an increasing demand for tower crane models that find application in the office building, shopping center, apartment, and business center. Additionally, 10 tons and 12 tons of tower cranes are used in airports, big office buildings, steel plants, and power station projects. Mobile cranes offer a range of benefits than fixed cranes. These cranes require little setup and can deal with a range of terrain and particular site concerns as well as they are easy to get to the job site. One of the major advantages of mobile cranes is the level of movability and flexibility, primarily in situations with several obstacles. These cranes can be used to access narrow sections and places with limited space, which makes it an appropriate solution for several job sites.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Global Mobile Cranes Market-Segmentation
By Product Type
- Truck Mounted Crane
- Crawler Crane
- Trailer Mounted Crane
By Application
- Construction
- Industrial
- Utility
Global Mobile Cranes Market– Segment by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
Rest of the World
The Report Covers
- Market value data analysis of 2019 and forecast to 2026.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global mobile cranes market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market-entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
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