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.
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.
They can also be set up easily and quickly, which signifies that the required task can be finished much faster, which in turn, saves money in the long run. Additionally, mobile crane comprises hydraulic power and heavy-duty axles, which has the power required to lift heavy materials to needed heights in the most efficient safest way possible. To rent a mobile crane can be a cost-effective solution for a big project, as it can support to complete the operation quickly and reduce downtime on the job site. As they require little setup time, the little cost is involved in the job rather than setting up larger scale cranes.
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Mobile Cranes Market Segmentation
By Product Type
- Truck Mounted Crane
- Crawler Crane
- Trailer Mounted Crane
By Application
- Construction
- Industrial
- Utility
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Regional Analysis
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Altec, Inc.
- Bauer AG
- Cargotec Corp.
- Galmon (S) Pte, Ltd.
- JLG Industries, Inc.
- Kato Works Co., Ltd.
- Kobelco Construction Machinery Co., Ltd.
- Konecranes Oyj
- Liugong Machinery Co., Ltd.
- Manitex, Inc.
- Muhibbah Engineering (M) Bhd
- Palfinger AG
- Sarens Bestuur N.V.
- Sumitomo Heavy Industries, Ltd.
- Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
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