Mobile Crane Market Size By Type (All Terrain Crane, Crawler Crane, Rough Terrain Crane, Truck Loader Crane), By Capacity (5 Ton, 10 to 20 Ton, 21 to 30 Ton, Above 30 Ton), By Application (Construction & Mining, Utility, Manufacturing, Transport/Shipping, Oil & Gas/Energy), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2030

Published Date: Aug 2021  |  Report ID: GMI5090  |  Authors: Preeti Wadhwani, Prasenjit Saha

Report Format: PDF   |   Pages: 200   |   Base Year: 2020




Summary Table of Contents Industry Coverage Methodology

Industry Trends

Mobile Crane Market size exceeded USD 15 billion in 2020 and is estimated to grow at over 5% CAGR between 2021 and 2030. The rapidly growing residential and commercial construction activities due to increasing urbanization are spurring the industry demand.
 

The rising importance of safe, cost-effective, and speedy material handling activities in the construction & transport sector is driving the market growth. The companies are focusing on introducing new low emission mobile crane models to contribute to sustainable environment. For instance, in December 2020, Liebherr Group introduced electric crawler cranes, LR1200.1 and LR.1250.1. These are the world’s first crawler cranes that are battery powered and are equipped with 255kW electrical engines.
 

Mobile Crane Market

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The energy and oil & gas production industry is one of the vital growth drivers for the economic development of a country. Regional governments are taking initiatives to speed-up the construction projects by issuing special bonds and providing some relaxations in loan repayments. The government will also support companies with stable employment by extending deadlines for debt repayment.
 

The mobile crane market is experiencing high growth on account of the integration of smart technology. Established industry players are integrating telematics platform into cranes to enhance equipment efficiency and productivity. For instance, in May 2021, Terex Corporation announced new telematics platform T-Link for all Terex rough terrain cranes. T-Link platform assists equipment owners to track the equipment’s real-time activities and location, allowing owners to monitor and manage their fleet efficiently. Telematics platform will increase the equipment’s working effectiveness and life expectancy.
 

Key factors challenging the industry growth include high initial cost of mobile cranes and lack of skilled & competent operators. The improper use of heavy equipment may result in fatal accidents and injuries, restricting the mobile crane market demand. Several associations are taking efforts to develop new guidelines for crane safety regulations.
 

The mobile crane manufacturers experienced a substantial decline in market revenue owing to the outbreak of coronavirus. In the first three quarters of 2020, the mobile crane industry sales were declined impelled by several factors such as manufacturing & construction activities suspension, low demand, and supply chain disruption. Equipment companies, including Manitex and Tadano, reported a decline in their net sales for 2020. However, the market is anticipated to witness a steady growth recovery post pandemic owing to supportive government initiatives for construction activities.
 

Mobile Crane Market Report Coverage
Report Coverage Details
Base Year:2020
Market Size in 2020:15 Billion (USD)
Forecast Period:2021 to 2030
Forecast Period 2021 to 2030 CAGR:5%
2030 Value Projection:25 Billion (USD)
Historical Data for:2016 to 2020
No. of Pages:200
Tables, Charts & Figures:347
Segments covered:Type, Capacity, Application
Growth Drivers:
  • Increase in global construction spending
  • Growing popularity of telematics-enabled cranes
  • High growth of transportation & logistics industry in North America and Europe
  • Increasing equipment rental demand in Asia and Europe
  • Growth of Brazilian construction industry
  • Increasing demand for mobile cranes from energy sector in MEA
Pitfalls & Challenges:
  • High initial purchase & maintenance costs
  • Limited availability of skilled operators

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High maneuverability and maximum lifting capacity are boosting the all-terrain cranes demand

All-terrain cranes held around 25% of the mobile crane market share in 2020. All-terrain cranes have the capacity to achieve robust maneuverability and ability to perform operations in harsh weather conditions with superior mobility. High-performance efficiency in a variety of sectors such as power stations, oil & gas production, and construction sites is likely to augment the industry statistics. Continuous new product launches in the all-terrain segment are propelling the market expansion.
 

Rising demand for cranes with capacity more than 30 tons

Mobile Crane Market Size, By Capacity

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The cranes with above 30 tons lifting capacity are expected to witness a growth rate of over 6.5% through 2030 led by their high lifting capacities and enhanced working height. Companies are upgrading their previous models with single engine design to reduce the emissions and overall operating costs, improving their market share.
 

Growing construction and mining activities across the globe

The mobile crane market demand from construction application was valued at USD 8 billion in 2020. Supportive government regulations for the construction industry in several countries, including the U.S., India, Saudi Arabia, and Germany are enhancing the market growth. For instance, in January 2021, Saudi Government announced to build 170 km mega smart city “The Line” as part of its Neom Project. The city will be equipped with AI-enabled digital infrastructure, high speed transportation, and IoT-based logistics services.
 

Increasing construction spending in North America

North America Mobile Crane Market Share, By Region

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The North America mobile crane market revenue crossed USD 4 billion in 2020, with about 7,000 units of new units sold. The U.S. and Canada government authorities are focusing on construction project investments to revive their economy after COVID-19 crisis. In March 2021, the U.S. Government announced the plan for economy reshape and infrastructure development with an investment of USD 2 trillion. The new investment will create several market opportunities in road construction, water pipes, high speed internet infrastructure, and public transit sectors. Increasing construction activities in the region are encouraging the industry players to invest in mobile cranes to increase their revenue.
 

High focus of mobile crane manufacturers on strategic partnerships

Key mobile crane market participants include Terex Corporation, Kobelco Construction Machinery Co., Ltd, Palfinger AG, Tadano Ltd, SANY Group, Zoomlion Heavy Industries Science and Technology Co., Ltd, Manitowoc, Manitex, Inc., Liebherr Group, LiuGong Machinery Co., Ltd, and Kato Works Co., Ltd.
 

Manufacturers are focusing on establishing strategic partnerships and acquisitions for their business expansion. The players are presenting their latest innovations in exhibitions to target the potential audience. For instance, in November 2020, Zoomlion Heavy Industry presented its various mobile cranes, including rough terrain, crawler, and truck crane, at the Bauma China 2020. This aided the company to showcase its products to potential customers at the exhibition.
 

This mobile crane market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2021 to 2030 for the following segments:

Market, By Type

  • All Terrain Crane
  • Crawler Crane
  • Rough Terrain Crane
  • Truck Loader Crane

Market, By Application

  • Construction & Mining 
  • Utility
  • Manufacturing
  • Transport/Shipping
  • Oil and Gas/Energy

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa

 

Frequently Asked Questions (FAQ) :

The mobile crane market size surpassed USD 15 billion in 2020 and will grow at a CAGR of 5% from 2021 to 2030, says this GMI report.
All-terrain mobile cranes captured 25% market share in 2020 and will grow due to their high-performance efficiency in a range of sectors such as oil & gas production, power stations, and construction sites.
The overall industry revenue from construction application was valued at USD 8 billion in 2020 and will expand on account of supportive government regulations in countries such as the U.S., Germany, India, and Saudi Arabia.
The North America mobile crane market exceeded USD 4 billion in 2020 and will witness growth impelled by the increasing investments in construction projects in Canada and the U.S.

Premium Report Details

  • Published Date: Aug 2021
  • Pages: 200
  • Tables: 327
  • Charts / Figures: 20
  • Companies covered: 13
  • Countries covered: 16

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