Mobile Cranes Market Size, Share, Opportunities, And Trends By Type (Carry Deck, Truck Mounted, Crawler Crane, Floating Crane, Rough Terrain, Others), By End User (Construction, Mining, Shipping & Ports, Transport & Logistics, Manufacturing, Others), And By Geography - Forecasts From 2023 To 2028

The mobile cranes market is projected to show steady growth during the forecast period.

Mobile cranes are heavy-duty machines used for lifting and transporting heavy loads, typically in construction, industrial, and shipping environments. They are designed to be mobile, which means they can be easily transported and set up at various job sites.

Mobile cranes come in different types and sizes, such as all-terrain cranes, rough-terrain cranes, truck-mounted cranes, and crawler cranes, and are equipped with various safety features, such as load moment indicators, anti-two-block systems, and outriggers, to ensure safe and efficient operation. Various factors drive the global mobile crane market, such as the growth of construction activities, rapid industrialization and urbanization, and advancements in technology, among others.

The rising construction industry is a key driver of the global mobile cranes market.

The use of mobile cranes in construction activities helps in the efficient and faster completion of projects. Therefore, the growing need for the development of new infrastructure, including buildings, bridges, and roads, is a key driving force behind the mobile crane market. For example, according to the Office for National Statistics, there was a 3.7% growth in construction output in the UK in 2022. The National Institute of Statistics (ISTAT) reported that Italy's construction output also increased by 4.9% during the same year.

According to INSEE, France, there was a 4.40% increase in construction output in 2022. Additionally, according to the U.S. Census Bureau around 1,339,000 new building permits were issued in the country in February 2023. Data from the Chinese Government Statistics also show that the cumulative growth percentage of new homes in the country rose from about 50% in 2019 to around 60% in 2021.  Thus, it can be concluded from the given information that the global construction industry is on the rise and this will in turn boost the growth of the mobile cranes market in the coming future.

The market growth of the global mobile cranes market is driven significantly by the increasing levels of industrialization and manufacturing.

Mobile cranes are widely used in the industrial sector for lifting and transporting heavy materials and equipment. They are particularly useful in industrial settings where heavy materials need to be moved over short distances, or where space constraints make it difficult to use other types of lifting equipment. Thus, the rising industrial sector is an important factor behind the growth of the mobile cranes market. For instance, in 2022, industrial production in India rose by 4.3%, with the manufacturing and construction sectors growing by 2.6% and 8.2%, respectively, as per the Ministry of Statistics and Programme Implementation.

According to Statistics Denmark, there was a significant increase of 24.70% in industrial production in Denmark in December 2022 as compared to the same month in the previous year. Similarly, the use of mobile cranes in the manufacturing industry is crucial for the movement of heavy equipment, machinery, raw materials, and finished products, as well as the installation of large-scale industrial equipment like boilers, generators, and turbines. This makes mobile cranes an essential tool for improving efficiency and productivity in the manufacturing sector, ensuring the safe and effective handling of materials. As such, the growth of the mobile crane industry is closely tied to the growth of the manufacturing industry, with both sectors expected to grow in tandem.

Based on OECD National Accounts data, the global manufacturing output in 2021 increased by around 18.25% to reach US$ 16,047.27 billion from its 2020 level and the total value added globally by the manufacturing industry increased to US$ 16.05 trillion in 2021. As per the same source, the proportion of manufacturing in the total global GDP has risen from 15.99% in 2019 to 16.63% in 2021, indicating the growth of the industrial and manufacturing sectors. As a result, it can be inferred that the mobile cranes market will also continue to expand as these sectors grow.

The Asia-Pacific region is expected to show the maximum growth potential for the mobile crane market.

The growth of the mobile cranes market in this region is primarily driven by the increasing demand for new infrastructure development, particularly in emerging economies such as India and China, which are undergoing rapid industrialization and urbanization. For instance, The National Bureau of Statistics of China reported a 1.3% increase in China's industrial production in 2022 and is forecasted to increase up to 3.90% by 2024. According to data from the Australian Bureau of Statistics, industrial production in Australia increased by 0.49% in the third quarter of 2022 compared to the same quarter in the previous year. In addition, to ensuring safe and effective material handling, mobile cranes are instrumental in improving the efficiency and productivity of the mineral production industry.

The growth of this industry is a significant driving force behind the expansion of the mobile cranes market in the region. For instance, as per the Indian Ministry of Mines, there has been a cumulative growth of 4.2% in India's mineral production between 2022 and 2023. Moreover, mobile cranes are commonly used in the transport and logistics industry for various tasks related to the handling of heavy and oversized goods and the growth of this industry will directly impact the growth of the mobile cranes market in this region. For example, according to the Cabinet Office of Japan, the country’s GDP from the transport sector increased from 24330.30 JPY (Japanese Yen) billion in 2020 to 25821.10 JPY billion in 2021. Thus, all these factors combine to drive the growth of the mobile cranes market in the Asia-Pacific region.

Market Key Developments

• In January 2023, Action Construction Equipment received an order from the defence ministry for the manufacturing and supply of special mobile cranes that were hydraulically powered, equipped with telescopic boom sections, and sophisticated safety devices.
• In October 2020, Liebherr announced the launch of its latest addition to the all-terrain crane range - the LTM 1150-5.3. This new crane model offered increased performance and versatility, with a 150-tonne lifting capacity and a 66-meter telescopic boom.
• In August 2019, Tadano completed the purchase of the Demag Mobile Cranes business to expand its reach in the lifting equipment industry.

Mobile Cranes Market Scope

 

Report Metric	Details
Growth Rate	CAGR during the forecast period
Base Year	2021
Forecast Period	2023 – 2028
Forecast Unit (Value)	USD Billion
Segments Covered	Type, End User, and Geography
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Companies Covered	Mammoet, Altech Industries, Cargotec, Manitowoc Company Inc., Liebherr, SANY Group, Tadano Ltd., Terex Corporation, XCMG Group, ZOOMLION
Customization Scope	Free report customization with purchase

 

Segmentation

• By Type
  • Carry Deck
  • Truck Mounted
  • Crawler Crane
  • Floating Crane
  • Rough Terrain
  • Others
• By End User
  • Construction
  • Mining
  • Shipping & Ports
  • Transport & Logistics
  • Manufacturing
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    •  Brazil
    • Argentina
    • Others
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Others
  • Middle East and Africa
    • Suadi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Australia
    • Others

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base, and Forecast Years Timeline

2. RESEARCH METHODOLOGY  

2.1. Research Data

2.2. Assumptions

3. EXECUTIVE SUMMARY

3.1. Research Highlights

4. MARKET DYNAMICS

4.1. Market Drivers

4.2. Market Restraints

4.3. Market Opportunities

4.4. Porter’s Five Force Analysis

4.4.1. Bargaining Power of Suppliers

4.4.2. Bargaining Power of Buyers

4.4.3. Threat of New Entrants

4.4.4. Threat of Substitutes

4.4.5. Competitive Rivalry in the Industry

4.5. Industry Value Chain Analysis

5. MOBILE CRANE MARKET ANALYSIS, BY TYPE

5.1. Introduction

5.2. Carry Deck

5.3. Truck Mounted

5.4. Crawler Crane

5.5. Floating Crane

5.6. Rough Terrain

5.7. Others

6. MOBILE CRANE MARKET ANALYSIS, BY END-USER

6.1. Introduction

6.2. Construction

6.3. Mining

6.4. Shipping & Ports

6.5. Transport & Logistics

6.6. Manufacturing

6.7. Others

7. MOBILE CRANE MARKET ANALYSIS, BY GEOGRAPHY

7.1. Introduction

7.2. North America

7.2.1. USA

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1.  Brazil

7.3.2. Argentina

7.3.3. Others

7.4. Europe

7.4.1. Germany

7.4.2. UK

7.4.3. France

7.4.4. Spain

7.4.5. Others

7.5. Middle East and Africa

7.5.1. Suadi Arabia

7.5.2. UAE

7.5.3. Others

7.6. Asia Pacific

7.6.1. China

7.6.2. Japan

7.6.3. South Korea

7.6.4. India

7.6.5. Australia

7.6.6. Others

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Emerging Players and Market Lucrativeness

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Vendor Competitiveness Matrix

9. COMPANY PROFILES

9.1. Mammoet

9.2. Altech Industries

9.3. Cargotec

9.4. Manitowoc Company Inc.

9.5. Liebherr

9.6. SANY Group

9.7. Tadano Ltd.

9.8. Terex Corporation

9.9. XCMG Group

9.10. ZOOMLION

Mammoet

Altech Industries

Cargotec

Manitowoc Company Inc.

Liebherr

SANY Group

Tadano Ltd.

Terex Corporation

XCMG Group

ZOOMLION