China mobile cranes market is estimated to grow at a CAGR of 6.2% during the forecast period. Growth in infrastructure spending is expected to offer an opportunity for market growth. For instance, in October 2019, the National Development and Reform Commission (NDRC) approved 21 infrastructure projects, which valued a minimum of $107.8 billion. The country is significantly focusing on infrastructure project approvals that facilitate to stabilize China’s economy. Additionally, the rising focus on the development and expansion of seaports are also accelerating the growth of infrastructure activities in the country. China’s Belt and Road Initiative (BRI) development strategy is intended to establish connectivity and co-operation with economic boundaries. This results in an emerging adoption of mobile cranes which is suitable for inland ports as well as large seaports. These cranes can offer maximum material handling, which makes them suitable for use in ports. It offers flexible and economical handling of each cargo category and serves every type and size of the vessel in every kind of port terminal.
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Scope of the China Mobile Cranes Market
Market Coverage
- Market number available for 2019-2026
- Base year- 2019
- Forecast period- 2020-2026
- Segment Covered- By Product Type and Application
- Competitive Landscape- Xuzhou Construction Machinery Group Co., Ltd., Liebherr-International AG, Konecranes, and Sany Heavy Industry Co., Ltd.
Recent Strategic Initiatives in the China Mobile Cranes Market
- In July 2020, XCMG revealed and delivered the 750 ton XCA750 eight axle All Terrain crane which is designed particularly for repair and maintenance work of wind turbine. This new crane features a seven section 92 meter main boom, topped by a heavy-duty hydraulically erected wind turbine extension, which takes the maximum hook height to 115 meters at which it can handle up to 62 tons.
- In January 2019, Konecranes wins an order for two floating cranes from Cosco Shipping Bulk Co., Ltd. (COSCO) for open-sea operation in China. With these two cranes, the number of Konecranes Gottwald floating cranes in operation on the western coast of Africa totals ten.
Key questions addressed by the report
- What is the market growth rate?
- Which segment dominates the market in the base year?
- Which segment will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID forecast
- Most affected segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
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China Mobile Cranes Market-Segmentation
By Product Type
- Truck Mounted Crane
- Crawler Crane
- Trailer Mounted Crane
By Application
- Construction
- Industrial
- Utility
(This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.)
