Mobile Crane Market Analysis

Mobile Crane Market Analysis

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.

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.

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.

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.