Mobile Crane Market By Type of Mounting (Truck Mounted Crane, Trailer Mounted Crane, Crawler Crane), By Type of Boom (Lattice Boom, Telescopic Boom), By Terrain Type (On-road, Rough terrain, All-terrain), By End Users (Building & Construction, Manufacturing, Infrastructure, Oil and Gas, and Others), and By Region (North America, Europe, Asia Pacific, Latin America, MEA), - Global Forecasts 2016 to 2027

Date : Feb 2021

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Report ID : 37

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Category : Equipment Machine & Tooling

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Report Format:  PDF EXCEL PPT WORD

Introduction

Mobile cranes are equipment that assists in lifting materials on a job site. These products are available under four principal types – truck-mounted, rough-terrain, crawler, and floating. Altec Inc., SANY Global, Tadano Inc., Terex Corporation, and Kobelco Construction Machinery Co. Ltd. are a few players leading the mobile crane market.

Mobile Crane Market Analysis:

The global mobile crane market was valued at roughly USD 13 billion in 2019. It is expected to register a compounded annual growth rate of nearly 6% from 2020 to 2027. At this growth rate, by the end of 2027, the market would reach a valuation of approximately USD 20 billion.

Mobile Crane Market

Market Segmentation

1. Product Type

Since the truck-mounted equipment offers a high loading capacity and easy transportation, this type accounted for the largest volume share of the mobile crane market in 2019. The crawler crane type is projected to display a higher growth rate as compared to the truck-mounted type during the forecast period. Trailer-mounted mobile cranes garnered a smaller share of the global mobile crane market due to their limited operational capabilities.

2. Boom-Type

Under the boom type fragmentation, the telescopic boom dominated the mobile crane Industry in 2019. This type is estimated to continue leading the mobile crane market until 2027. The lattice boom type is projected to display a slow growth rate during the forecast period.

3. Terrain Type

On the basis of terrain, the global mobile crane market is divided into on-road, rough terrain, and all-terrain. Amongst this, the all-terrain category dominated the market in 2019. It is anticipated to maintain its position throughout the forecast period. The on-road category will display a slower growth, while the rough-terrain will register a moderate growth rate.

4. End-use Industry

The construction industry alone captured more than half of the mobile crane market in terms of revenue in 2019. On further bifurcation of the construction industry, the manufacturing category led the mobile crane market in 2019. The residential mobile crane held the second position and is expected to dominate the market. Rising demand for residential spaces is projected to influence the market. Among end-use industries, the utility sector is anticipated to witness a compound annual growth rate of over 6% during the forecast period. The mobile crane market in the utility sector is largely driven due to several oil & gas as well as power projects.

Impact of COVID-19

The lockdowns that were enforced because of the pandemic have caused a decline in manufacturing processes. Furthermore, several industries, such as construction, oil and gas, mining, and other industrial activities, temporarily halting their operations. As a result, the mobile crane market growth has been severely affected.

Market Drivers:

1. Urbanization

Continuous urbanization will lead to a rise in infrastructure projects in the form of the development of new structures and upgradation of the existing ones. These projects will propel the growth of the mobile crane market significantly.

2. Growth in Mining Sector

The growth of the mining sector is expected to increase the demand for these cranes, thereby, positively influencing the mobile crane market.

3. Private and Public Investments

The surge in investments in various power utilities by government and private sectors are driving the growth of the mobile crane market.

Market Restraints:

1. High Initial Investment and Operating Costs

The procurement of a mobile crane demands huge capital. Moreover, the operating costs of these cranes dissuade the consumers from investing into the mobile crane market.

2. Region Specific Product

A mobile crane that is suitable for the North American region may not be suitable for the Asia – Pacific region. This leads to the requirement to develop products that meet the needs of the region. Therefore, the development of region-specific products restricts the growth of the mobile crane market.

3. Rise in number of accidents

Various safety standards and regulations have been implemented by governments as well as on an industry level. However, despite these measures, the mobile crane market has been affected negatively due to the rising number of accidents.

Geographic Analysis:

The Asia – Pacific region dominated the mobile crane market in 2019 in terms of revenue. It is envisaged to maintain its lead and register the highest growth rate during the forecast period. This growth arises due to the increasing construction activities in emerging countries and rising adoption of advanced technology-based machinery.

North America is expected to depict positive growth due to increasing investments in the power and energy, construction and shipbuilding sectors. The European regional mobile crane market will also witness growth due to the rising number of infrastructure and transportation projects.

The Latin American, Middle Eastern, and African (LAMEA) region is anticipated to show the second-highest growth rate. Industrial investments in the manufacturing, oil and gas well as construction sectors will largely affect the mobile crane market.

Recent Developments:

  1. Finland-based Cargotec Corporation acquired Effer loader cranes via its business division Hiab in August 2018. This acquisition helped expand the portfolio of the company.
  2. In September 2019, Manitowoc opened a new facility in the Philippines which enhanced the foothold of the company in the region.
  3. In October 2020, Manitowoc announced the launch of the new NBT60XL boom truck. During the same period, Liebherr-International AG announced the launch of the LTM 1150-5.3 telescopic boom crane.

The research report analyses the ecosystem of the Mobile Crane Industry and categorizes the Mobile Crane Market to forecast the revenues and analyze the trends in each of the following below-mentioned market segments.

By Type of Mounting

  • Truck Mounted Crane
  • Trailer Mounted Crane
  • Crawler

By Type of Boom

  • Lattice Boom
  • Telescopic Boom

By Technology

  • On-road
  • Rough terrain
  • All-terrain

By End Users

  • Building & Construction
  • Manufacturing
  • Infrastructure
  • Oil and Gas
  • Others

By Region

  • North America
    • US
    • Canada
    • Mexico
  • Europe
    • Germany
    • UK
    • France
    • Norway
    • Italy
    • Spain
    • Netherlands
    • Rest Of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • New Zealand
    • Rest Of Asia Pacific
  • South America
  • ROW

The unique insights provided by this report also includes the following:

  1. In-depth value chain analysis
  2. Opportunity mapping
  3. Sector snapshot
  4. Technology landscape
  5. Regulatory scenario
  6. Patent trends
  7. Market trends
  8. Covid-19 impact analysis
  9. Raw material supply analysis
  10. Pricing trends
  11. Sustainability trends and environmental concerns
  12. Critical Success Factors
  13. Competitive Landscape
  14. Customer preferences

Company Profiles and Competitive Intelligence:

The key players operating in the market are:

  1. Altec, Inc
  2. Cargotec Corporation
  3. Liebherr-International AG
  4. Manitowoc Company, Inc.
  5. SANY Global
  6. Tadano Inc
  7. Terex Corporation
  8. XCMG
  9. Zoomlion Heavy Industry Science & Technology Co., Ltd.
  10. Kobelco Construction Machinery Co., Ltd
  11. Bauer AG
  12. Kato Works Co., Ltd.
  13. Liebherr-International AG
  14. LiuGong Machinery Co., Ltd.
  15. Manitex International
  16. Sumitomo Heavy Industries, Ltd.

Author Credentials

Priyanka has been writing chemicals & material market research reports for the last 12 years. A post-graduate, her specialization is in the chemicals sector. Preparing end-to-end reports covering minute details for market insights, competitive intelligence and trend analysis in the CMFE sector.

  1. INTRODUCTION
    1. Product Outline
    2. What are Mobile Cranes
    3. Different types of Mobile Cranes
    4. Analysis of Mobile Cranes
    5. Supply Chain Analysis
    6. Covid -19 Impact
    7. Market Dynamics
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Threats
    8. Technology Overview
    9. Patent Analysis
  2. Technology and Regulatory Landscape for Mobile Crane  
    1. Regulations and Standards
  3. Mobile Crane  Pricing Analysis
    1. Prices of Mobile Crane
  4. Mobile Crane  by Type of Mounting
    1. Truck Mounted Crane
    2. Trailer Mounted Crane
    3. Crawler Crane
  5. Mobile Crane  by Terrain Type
    1. On-road
    2. Rough terrain
    3. All-terrain
  6. Mobile Crane  by Application
    1. Building & Construction
    2. Manufacturing
    3. Infrastructure
    4. Oil and Gas
    5. Others
  7. Regional Analysis
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. UK
      3. France
      4. Norway
      5. Italy
      6. Spain
      7. Netherlands
      8. Rest Of Europe
    3. Asia Pacific
      1. China
      2. India
      3. Japan
      4. Australia
      5. New Zealand
      6. Rest Of Asia Pacific
    4. Middle East and Africa
    5. South America
  8. Key Strategic Insights
    1. New Raw Material Sources
    2. New Applications
    3. Emerging Technologies
    4. Opportunity mapping
    5. Critical Success Factors
    6. Environmental Impact and sustainability issues
    7. Consumer preferences
  9. Key Market Trends / Recent Developments
  10. Competitive Scenario
    1. Competitive Strategies of Key Players
      1. Mergers and Acquisitions
      2. Investments
      3. Joint Ventures
      4. New Product launches
    2. Strength of product portfolio
    3. Ranking of Key Players
    4. Presence of players by Geographies
  11. KEY GLOBAL PLAYERS
    1. Altec, Inc
    2. Cargotec Corporation
    3. Liebherr-International AG
    4. Manitowoc Company, Inc.
    5. SANY Global
    6. Tadano Inc
    7. Terex Corporation
    8. XCMG
    9. Zoomlion Heavy Industry Science & Technology Co., Ltd.
    10. Kobelco Construction Machinery Co., Ltd
    11. Bauer AG
    12. Kato Works Co., Ltd.
    13. Liebherr-International AG
    14. LiuGong Machinery Co., Ltd.
    15. Manitex International
    16. Sumitomo Heavy Industries, Ltd.
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