Market Size of Asia Pacific Mobile Crane Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 6.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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APAC Mobile Crane Market Analysis
The Asia-Pacific Mobile Crane Market is projected to grow with a CAGR of more than 6 % during the forecast period.
- Owing to the increased governmental spending on sectors such as construction, mining, ports and others, the mobile crane market is expected to rise with huge potential.
- The region has big developing nations like China and India where the government as well as private sector investments in construction sector is growing with a high rate. Similarly, in other smaller nations like Indonesia, Philippines, and others the government are trying to attract investments and boost the sector.
- However, the increasing pollution levels in the region and strict government norms are forcing the major players to look for alternative fuel application in mobile crane market and they are spending a large share of their money in research and development of new eco-friendly mobile cranes. For instance, in May 2020, Zoomlion has announced development of world's first fully electric truck crane. Powered by a lithium iron phosphate or lithium ferro phosphate (LFP) battery which is a type of lithium-ion battery with a longer life and a more constant discharge voltage.
