According to the report by Expert Market Research (EMR), the global mobile cranes market size is projected to grow at a CAGR of 6.50% between 2024 and 2032. Aided by the burgeoning construction sector, technological advancements, and increased infrastructural investments, the market is expected to grow significantly by 2032.
Mobile cranes are highly versatile lifting equipment used in various construction and industrial applications. They are mounted on mobile platforms, making them suitable for a range of environments and tasks. Key types include truck-mounted cranes, rough-terrain cranes, all-terrain cranes, and crawler cranes, each offering distinct advantages in terms of mobility, lifting capacity, and operational versatility.
A significant driver of the mobile cranes market demand is the global expansion of the construction sector, particularly in developing countries. The surge in urbanisation, residential construction, and infrastructure development projects, such as roads, bridges, and ports, necessitates the use of mobile cranes for efficient and flexible lifting operations.
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The trend towards urbanisation and the need for efficient construction methods in confined urban spaces have further propelled the demand for compact and versatile mobile cranes. Technological advancements in mobile cranes, such as enhanced telematics, automation, and safety features, are making these machines more efficient, reliable, and safe, contributing to mobile cranes market growth.
Innovations in mobile crane technology focus on increasing lifting capacity, operational efficiency, and safety. Advancements include the integration of GPS and IoT for real-time tracking, remote operation capabilities, and improved load management systems. Additionally, the trend towards eco-friendly construction practices has spurred the development of electric and hybrid mobile cranes, reducing emissions and noise levels on construction sites.
Asia Pacific, in particular, driven by rapid urbanisation and infrastructural development in countries like China and India, accounts for a significant portion of the mobile cranes market share. North America and Europe also contribute significantly, backed by their well-established construction sectors and technological prowess.
Emerging technologies like AI and automation are set to revolutionise the market. These technologies can enhance operational efficiency, reduce labour costs, and improve safety on construction sites. The trend towards modular construction, which requires precise and efficient lifting equipment, is also expected to boost the market for mobile cranes.
Mobile Cranes Market Segmentation
The market can be divided based on boom type, carrier type, terrain type, end user industry, business, and region.
Market Breakup by Boom Type
- Lattice Boom
- Telescopic Boom
Market Breakup by Carrier Type
- Wheel Mounted
- Track Mounted
Market Breakup by Terrain Type
- On-Road
- Rough Terrain
- All-Terrain
Market Breakup by End User Industry
- Residential and Commercial Buildings
- Infrastructure
- Manufacturing
- Utilities
Market Breakup by Business
- Original Equipment Manufacturers (OEMs)
- Aftermarket
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
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Competitive Landscape of Mobile Cranes Market
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global mobile cranes market. Some of the major players explored in the report by Expert Market Research are as follows:
- Altec Industries, Inc.
- Cargotec Corporation
- The Manitowoc Company, Inc.
- Sany Heavy Industry Co., Ltd.
- Tadano Ltd.
- Others
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