The global mobile cranes are estimated to grow at a CAGR of 5.9% during the forecast period. The growing construction industry is reflecting positively on the market growth. As per the India Brand Equity Foundation (IBEF), the Indian real estate sector is one of the most globally known sectors, which consists of four sub-sectors, including hospitality, housing, commercial, and retail. The growing real estate market in India is primarily led by urban and semi-urban accommodations and the rising demand for office space.
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Indian real estate market will grow to $9.3 billion by 2040 from $1.7 billion in 2019. The favorable demographic shift has also propelled the growth in the real estate sector. Mobile cranes are the most basic kind of crane and contain telescopic boom mounted and steel truss on some type of mobile platform. This platform could be a rail, wheeled, or even a cat truck. A tower crane is regarded as a new kind of balance crane. While fixed to the ground, this kind of crane will normally provide the best lifting and height capabilities. These cranes are also used while constructing tall buildings.
Scope of the Global 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
- Regions Covered- North America, Europe, Asia-Pacific, and Rest of the World
- Competitive Landscape- Liebherr-International AG, Tadano Ltd., Sany Heavy Industry Co., Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd., and The Manitowoc Co., Inc.
Recent Strategic Initiatives in the Global Mobile Cranes Market
- In October 2020, Liebherr revealed a 150-ton mobile crane with a 66-meter telescopic boom. After manufacturing nearly 1500 units, the company unveiled the successor to its successful LTM 1130-5.1 – the LTM 1150-5.3. With a larger lifting capacity of 150 tons and a 66-meter telescopic boom, this new crane is a potential addition to Liebherr’s crane range below the 180-ton LTM 1160-5.2. It offers excellent lifting capacities while completely raised and at large radii. It can finish lots of jobs without any need for further ballast transport vehicles. This, in turn, saves money and time and makes it more valuable to crane contractors.
- In August 2019, Tadano Ltd. acquired the Demag Mobile Cranes business, which will bring together two crucial companies in the lifting equipment industry. This will increase the capability of Tadano group to deliver a premier choice to its customers. It widens its penetration into several markets across the globe, adds lattice boom crawler cranes to its entire product range, and augments the capacity range of its all-terrain cranes.
Key questions addressed by the report
- What is the market growth rate?
- Which segment/region dominates the market in the base year?
- Which segment/region will project the fastest growth in the market?
- How COVID-19 impacted the market?
- Recovery Timeline
- Deviation from the pre-COVID-19 forecast
- Most affected region/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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Global 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.)
