Mobile Crane Market Size & Share, By Product Type (Truck Mounted Crane, Trailer Mounted Crane, Crawler Crane), Application (Construction, Industrial, Utility), Regional Forecast, Industry Players, Growth Statistics Report 2024-2032

Market Outlook:

Mobile Crane Market exceeded USD 14.48 Billion in 2023 and is poised to cross USD 23.88 Billion by end of the year 2032, growing at over 6.8% CAGR between 2024 and 2032.

• Base Year Value (2023): USD 14.48 Billion
• CAGR (2024-2032): 6.8%
• Forecast Year Value (2032): USD 23.88 Billion
• Historical Data Period: 2019-2023
• Largest Region: Asia Pacific
• Forecast Period: 2024-2032

Market Dynamics:

Growth Drivers & Opportunity:

Rapid urbanization and industrialization

Growing investment in infrastructure development

Increasing demand for rental services

Report Scope

Report Coverage	Details
Segments Covered	Product Type, Application
Regions Covered	• North America (United States, Canada, Mexico) • Europe (Germany, United Kingdom, France, Italy, Spain, Rest of Europe) • Asia Pacific (China, Japan, South Korea, Singapore, India, Australia, Rest of APAC) • Latin America (Argentina, Brazil, Rest of South America) • Middle East & Africa (GCC, South Africa, Rest of MEA)
Company Profiled	Bauer AG, KATO WORKS CO., LTD., KOBELCO Construction Machinery, Liebherr-International AG, LiuGong Machinery, Manitex International, Manitowoc Company, PALFINGER AG, SANY HEAVY INDUSTRY INDIA PRIVATE LIMITED, Sarens NV, Sumitomo Heavy Industries,., Tadano., Terex, XCMG GROUP, Zoomlion Heavy Industry Science & Technology

Industry Restraints:

Stringent regulations and standards

High initial investment costs

Regional Forecast:

North America:

The mobile crane market in North America is expected to witness steady growth, primarily driven by the construction and infrastructure development projects in the United States and Canada. The increasing demand for high-rise buildings, industrial facilities, and residential complexes is bolstering the need for mobile cranes for lifting and transporting heavy materials. Moreover, the focus on upgrading aging infrastructure and investing in new construction projects is further fueling the growth of the mobile crane market in North America.

Asia Pacific:

In Asia Pacific, countries like China, Japan, and South Korea are experiencing rapid urbanization and industrialization, leading to a surge in construction activities. The growing need for efficient and versatile lifting equipment is boosting the demand for mobile cranes in the region. China, in particular, is a key market for mobile cranes due to its massive infrastructure development projects and increasing investments in construction and manufacturing sectors. Japan and South Korea are also witnessing significant growth in the adoption of mobile cranes for various applications.

Europe:

The mobile crane market in Europe is characterized by strong demand from countries like the United Kingdom, Germany, and France. These countries are investing heavily in infrastructure development, including road and railway projects, commercial and residential construction, and energy sector projects. The need for advanced and high-capacity mobile cranes equipped with the latest technologies is driving the market growth in Europe. Additionally, the emphasis on eco-friendly and energy-efficient equipment is prompting crane manufacturers to innovate and introduce sustainable solutions in the region.

Segmentation Analysis:

In terms of segmentation, the global mobile crane market is analyzed on the basis of Product Type, Application

Truck Mounted Crane:

The truck mounted crane segment is expected to witness steady growth in the mobile crane market. These cranes are widely used in construction and industrial applications due to their ability to move easily on roads and job sites. Their versatility and maneuverability make them ideal for projects in urban areas where space is limited. The construction industry is a major end-user of truck mounted cranes, as they are commonly used for lifting and moving heavy materials on construction sites.

Trailer Mounted Crane:

The trailer mounted crane segment is projected to show significant growth in the mobile crane market. These cranes are easy to transport from one job site to another, making them popular among utility companies and smaller construction firms. Trailer mounted cranes are versatile and can be used for various applications such as lifting equipment and materials in industrial settings. The growing demand for infrastructure development is expected to drive the growth of this segment in the coming years.

Crawler Crane:

The crawler crane segment is anticipated to witness steady growth in the mobile crane market. These cranes are equipped with tracks that allow them to move over rough terrain with ease, making them suitable for construction projects in remote or rugged areas. Crawler cranes offer high lifting capacities and stability, making them ideal for heavy lifting tasks in the construction and industrial sectors. The increasing adoption of crawler cranes for large-scale infrastructure projects is expected to fuel the growth of this segment.

Construction Application:

The construction application segment is expected to dominate the mobile crane market. Mobile cranes play a crucial role in the construction industry by assisting in lifting and moving heavy materials and equipment on job sites. The growing investment in infrastructure development projects, particularly in emerging economies, is driving the demand for mobile cranes in the construction sector. Truck mounted cranes are commonly used in construction applications due to their mobility and versatility.

Industrial Application:

The industrial application segment is projected to witness substantial growth in the mobile crane market. Industrial facilities such as manufacturing plants and warehouses require mobile cranes for lifting and transporting heavy machinery and materials. Trailer mounted cranes are popular in industrial applications due to their ease of transportation and versatility. The increasing need for efficient material handling solutions in industries is expected to boost the demand for mobile cranes in this segment.

Utility Application:

The utility application segment is expected to show significant growth in the mobile crane market. Mobile cranes are essential for utility companies for tasks such as repairing and maintaining power lines, telecommunications towers, and other infrastructure. Trailer mounted cranes are commonly used in utility applications due to their flexibility and ease of transport. The increasing focus on upgrading and expanding utility networks is driving the demand for mobile cranes in this segment.

Competitive Landscape:

Competitive Landscape:

The global Mobile Crane Market is highly competitive with several key players dominating the industry. Factors such as innovation, product quality, pricing, and customer service play a significant role in determining market share. Companies compete on a global scale to secure large-scale contracts and expand their customer base.

Top Market Players:

1. Liebherr Group

2. Tadano Ltd.

3. Terex Corporation

4. Manitowoc Company, Inc.

5. XCMG Group

6. Sany Group

7. Zoomlion Heavy Industry Science & Technology Co., Ltd.

8. Kobelco Construction Machinery Co., Ltd.

9. KATO Works Co., Ltd.

10. Link-Belt Cranes (Sumitomo Heavy Industries Construction Cranes Co., Ltd.)