New York, USA, Oct. 20, 2022 (GLOBE NEWSWIRE) -- Mobile Crane Market Overview:
According to a Comprehensive Research Report by Market Research Future (MRFR), “Mobile Crane Market Information by Product, Application, and Region - Forecast till 2030”, the market is estimated to grow at a 5.80% CAGR to reach USD 14,523.80 Million by 2030.
Market Scope:
A crane is a large device that can lift, carry, and handle both light and heavy goods. All of the functions of a crane are carried out by a mobile crane, which also has horizontal movement. A mobile crane may move across any terrain by using several types of carriers. Mobile cranes may also execute a variety of material lifting jobs because they are fitted with several types of booms.
The Mobile Crane Market has experienced dramatic growth in recent years due to the expansion of the building industries. This expansion is the result of a global increase in economic growth. Additionally, the value of the mobile crane market is increasing as a result of the crane's widespread use in many industries. These cranes are the primary piece of equipment used to raise weights up to a few hundred tons. Cranes are used in a variety of fields, including building, automotive, manufacturing, mining, and several power projects.
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Report Scope:
| Report Attribute | Details |
| 2030 Market Size | USD 14,523.80 Million |
| CAGR | 5.80% (2022–2030) |
| Base Year | 2021 |
| Forecast Period | 2022–2030 |
| Historical Data | 2020 |
| Forecast Units | Value (USD Million) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | By Product, End Use And Region |
| Geographies Covered | North America, Europe, Asia-Pacific, and Rest of the World (RoW) |
| Key Market Drivers | The increase in the growth of the mining sectors in recent days |
| The rise in the usage of the infrastructure in the construction sectors |
Competitive Dynamics
The Mobile Crane Market's overall growth study has been expanding recently. This is as a result of significant development by the main participants. The main actors are driven to create the technology in order to continue the company's expansion after the pandemic has spread. Therefore, the major players are expanding their operations into numerous areas. Additionally, due to a lack of funding, some minor vital actors are attempting to combine with the other participants to finish the projects on time.
- Liebherr Group (switzerland)
- XCMG Group (China)
- Manitowoc Company, Inc. (U.S.)
- Tadano Ltd. (Japan), Terex Corporation (U.S.)
- Palfinger AG (Austria)
- Sany Group Co. Ltd (China)
- Zoomlion Co., Ltd. (China)
- Kato-works Co. Ltd. (Japan)
- Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd (Japan)
- LiuGong Machinery Co., Ltd. (China)
Market USP:
Market Drivers
The recent expansion of the mining industry has also paved the way for the value of the mobile crane market to rise. One of the primary factors driving the expansion of the mobile crane market share is also the increase in infrastructure utilization in the construction sectors and the demand for heavy equipment firms. The primary drivers of market expansion are the development in urbanization as well as the number of private and public contracts for the construction of non-residential facilities including hospitals, schools, and buildings.
Because modern mobile cranes use less room and can easily fit into small spaces, expanding the usage of mobile cranes in the construction industry is becoming simple. Therefore, this is one of the supplementary benefits of using a mobile crane for construction tasks. Additionally, mobile cranes can move through a variety of terrains, including mountains, loose soil, and deep forests. Mobile crane use is expanding for a variety of purposes. To speed up construction projects, multiple public-private partnerships (PPP) are being established internationally in nations like Mexico, India, China, Canada, and Japan. This has caused a large influx of resources and cash into the construction of infrastructure. As a result, it is predicted to have a beneficial impact on the growth of the mobile crane market.
The demand for and development of new equipment and infrastructure in the mining industries is also promoting the growth of the mobile crane market. The primary factor that is having a favorable effect on the development of the mobile crane market is the rise in the amount of money being spent on building worldwide.
Market Limitations
One of the biggest challenges in the previous few years has been the high cost of purchasing the crane. Even though the market for mobile cranes is gradually expanding and developing, consumers are not choosing to purchase them because of their high price. Thus, this prevents the market from expanding.
Another obstacle to the expansion of the mobile crane market is a lack of qualified operators. In many areas, workers are hurt due to a lack of training, or the crane may accidently contact electric wires, injuring workers. Workers may also suffer accidents due to ignorance of technology or load restrictions. Therefore, hiring competent labor is necessary to operate the products of the Mobile Crane Market.
Browse In-depth Market Research Report (111 Pages) on Mobile Crane: https://www.marketresearchfuture.com/reports/mobile-crane-market-2964
COVID-19 Analysis:
The pandemic's increased global spread has had minor effects on the market for mobile cranes. A loss in the market resulted from the construction industries being shut down as a result of the pandemic's spread. To stop the disease from spreading, numerous nations throughout the world imposed a lockdown. However, there is also a government that permitted mining operations to continue since they were necessary even during lockdown days.
However, after the lockdown was lifted, the post-pandemic boom in the mobile crane market led to an increase in demand for cranes in the building industries.
Market Segmentation:
By product
Over the review period, the segment for wheeled mobile cranes is anticipated to increase significantly.
By Application
One of the main application areas for mobile cranes is the construction industry, and it is anticipated that they will continue to rule during the review period.
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Geographic Analysis:
Due to the expansion of development projects in numerous locations, North America currently maintains the greatest share of the global market for mobile cranes. One of the primary factors driving the market's expansion is the expansion of industries in nations like the US and Canada.
During the anticipated time, the Asia Pacific Mobile Crane Market is also expected to rise gradually. This is a result of the growth in the construction industries in several nations, including China, India, and others.
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