Asia-Pacific Mobile Crane Market - Segmented by Type, Application, and Geography - Growth, Trends and Forecasts (2018 - 2023)

Asia-Pacific Mobile Crane Market - Segmented by Type, Application, and Geography - Growth, Trends and Forecasts (2018 - 2023)

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Asia-Pacific Mobile Crane Market

The Asia-Pacific mobile crane market was valued at USD 5.71 billion in 2017 and is expected to project a CAGR of 6.28%, during the forecast period 2018-2023. One of the major factors driving the growth of the market is the growing construction industry in countries such as India, Philippines, Indonesia, and Australia. However, the enactment of stringent emission norms across the globe is expected to hinder the growth of the market.

Growing construction Industry in the Region

Asia-Pacific region is expected to be a major market propelling the global construction industry, with augmenting construction activities in countries such as India, Australia, and ASEAN countries (including Indonesia, Philippines, Vietnam, and others).

In China, the government’s massive infrastructure push in the region as a part of its Belt and Road Initiative has created a demand for mobile cranes particularly in the construction of highways and power plants. Although, Chinese construction companies procure machinery from Chinese equipment manufacturers such as Zoomlion and XCMG.

In India, the construction sector is one of the booming industries. The construction sector in the country is expected to grow twice as fast as China’s till 2030, with the country’s populations. The infrastructure sector is an important pillar for the growth of the Indian economy. The government is taking various initiatives to ensure the time-bound creation of excellent infrastructure in the country. The government has announced a target of USD 376.5 billion investment in infrastructure over a period of three years, including USD 120.5 billion for developing 27 industrial clusters and USD 75.3 billion for road, railway, and port connectivity projects. Growing investments in the infrastructure sector and other strategic initiatives of the government are expected to boost the construction sector in the country.

Additionally, the country’s massive infrastructure programs like Gram Sadak Yojana for construction of highways and Sagarmala project for port-led development has created opportunities for the crane manufacturers to increase their share in the market.

China the Largest Market for Mobile Cranes in the Region

China mobile crane market is expected to witness CAGR of 6.62% during the forecast period 2018-2023.

China is the largest market for cranes and also has emerged as the largest manufacturer of cranes globally. Fuel economy and low emissions are the key trends that are shaping the mobile crane market in the country.

In spite of the volatile growth rate in the real estate sector, significant developments in rail and road infrastructure by the Chinese government (in order to withstand the demand stemming from the growing industrial and service sectors) have resulted in a significant growth in the Chinese construction industry in the recent years. Since the construction industry is dominated by state-owned and private enterprises, an increase in government and private spending in this regard is pushing the industry toward global primacy. In the recent years, the entry of major construction players (from the European Union) in China has further fuelled the growth of this industry.

In 2018, the housing authorities of Hong Kong launched a number of measures to push-start the construction of low-cost housing. The authorities have projected a capital expenditure of HKD 23,923 million in the construction sector for affordable apartments in its proposed budget for 2018-19.

Company’s such as XCMG, Zoomlion, Sany, and China Communications Construction Company (CCCC) are among the top players in the mobile crane market in the country.

Key Developments in the Market:

  • January 2018: Potain launches MCH 125, a hydraulic topless luffing jib crane. The crane has since been assessed on site in Thailand, Australia, and New Zealand before launching it in the Asia-Pacific region. The MCH 125 was exclusively designed and developed for Asian and African markets as most of the construction sites are congested in the region.
  • October 2017: Tadano has launched a range of three new truck cranes, GT-750EL, GT-600EL and GT-300EL with a carrying capacity of 30, 60 and 100 tons respectively.

Major Players: Zoomlion Heavy Industry Science and Technology Co., Liebherr Group, Tadano Limited, Escorts Group, and Kobelco Cranes amongst others.

Reasons to Purchase this Report

  • To study the current and future market outlook in the developed and emerging markets
  • Analyzing various perspectives of the market with the help of Porter’s five forces analysis
  • Detailed analysis of the segment that is expected to dominate the market
  • Regions that are expected to witness the fastest growth during the forecast period
  • Identify the latest developments, market shares and strategies employed by the major market players.
  • 3 months analyst support along with the Market Estimate sheet in excel.

Customization of Asia-Pacific Mobile Crane Market

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1. Introduction

1.1 Scope of the Market

1.2 Executive Summary

2. Research Methodology

2.1 Study Deliverables

2.2 Study Assumptions

2.3 Research Methodology

3. Market Overview

3.1 Current Market Scenario

3.2 Technology Trends

3.3 Industry Attractiveness – Porter’s Five Forces Analysis

3.3.1 Bargaining Power of Suppliers

3.3.2 Bargaining Power of Buyers

3.3.3 Threat of New Entrants

3.3.4 Threat of Substitute Products and Services

3.3.5 Competitive Rivalry Within the Industry

4. Market Dynamics

4.1 Divers

4.2 Restraints

4.3 Opportunities

5.  Market Segmentation and Analysis (Market Size, Growth, and Forecast)

5.1 By Type

5.1.1 Wheel-mounted Mobile Crane

5.1.2 Commercial Truck-mounted Crane

5.1.3 Side Boom

5.1.4 Straddle Crane

5.1.5 Railroad Crane

5.1.6 Others

5.2 By Application

5.2.1 Construction

5.2.2 Mining & Excavation

5.2.3 Marine & Offshore

5.2.4 Industrial Applications

5.2.5 Others

6. Regional Market Analysis (Market Size, Growth, and Forecast)

6.1 China

6.2 India

6.3 Japan

6.4 Australia

6.5 ASEAN Countries

6.6 Rest of Asia-Pacific

7. Competitive Landscape

7.1 Introduction

7.2 Market Share Analysis

8. Company Profiles (Overview, Financials**, Products & Services, SWOT Analysis, and Recent Developments)

8.1 Konecranes PLC  

8.2 Cargotec

8.3 Terex Corporation

8.4 Kobelco Cranes Co. Limited 

8.5 Liebherr-International AG 

8.6 Sumitomo Heavy Industries Construction Cranes Co. Ltd

8.7 XCMG

8.8 Zoomlion Heavy Industry Science & Technology Co. Ltd.

8.9 Tadano Limited

8.10 SANY

8.11 Hitachi Construction Machinery

*List not Exhaustive

9. Disclaimer

**Subject to Availability on Public Domain

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