Mobile Crane Market – Growth, Trends, and Forecast (2020 - 2025)

The Mobile Crane Market is segmented by Machine Type (Mobile Cranes, Fixed Cranes, and Marine & Port Cranes) and by Application Type (Construction, Mining & Excavation, Marine & Offshore, Industrial, and Others)

Market Snapshot

Study Period:

2018-2024

Base Year:

2019

Fastest Growing Market:

North America

Largest Market:

Asia Pacific

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Market Overview

The Mobile Crane Market is expected to register a CAGR of 6.34%.

The rise in infrastructure investments and growth in revenues in the mining sector across the world is likely to drive demand for cranes during the forecast period. Additionally, the proliferation of used and rental cranes in the global mobile crane market is expected to restrain the growth of sales of new cranes. Although, the stringent emission norms expected to come into force in 2019 in the EU is expected to create demand for new cranes.

Asia-Pacific region is the fastest growing infrastructure market, driven by increasing government spending in China and India, as both the countries have depended on infrastructure to boost the economy and create jobs.

One of the major growth drivers for the infrastructure industry, as a whole, and the mobile crane market, in particular, is the China-led, Belt and Road Initiative, which is aimed at building roads, railways, ports, and energy projects stretching from China’s western regions to Europe. The projects under the Belt & Road initiative are expected to create a huge demand for Cranes and other construction equipment.

Scope of the Report

The Mobile Crane Marker report covers the growing demand for mobile cranes across the globe, government regulations on cranes, the impact of mobile crane rental services, latest product developments and market shares of players operating across the mobile crane market. The scope of the report includes:

By Type
Wheel-mounted Mobile Crane
Commercial Truck-mounted Crane
Side Boom
Straddle Crane
Railroad Crane
Other Mobile Cranes
By Application
Construction
Mining & Excavation
Marine & Offshore
Industrial Applications
Others
Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United States
France
Rest of Europe
Asia Pacific
China
Japan
India
Rest of Asia-Pacific
Rest of the World
Saudi Arabia
Other Countries

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Key Market Trends

Increase in Construction and Renovation Activities

The year 2018 witnessed a steep rise in construction activity (building, residential, non-residential, and engineering construction) globally. For instance, the total value of construction work done in Australia increased by 6.4% from start of third quarter 2016 to end of third quarter 2017. Moreover, the same value for March (quarter) 2017 to June (quarter) 2017, stands at 9.0%.

Out of these, engineering construction projects have exhibited the steepest increase of 21.7% from March (quarter) 2017 to June (quarter) 2017. This is expected to be one of the chief drivers pushing the demand for construction machinery, in Australia.

The Asia-Pacific region is the fastest growing infrastructure market driven by increasing government spending in China and India (in 2017, overall spending on construction in India was USD 210 billion), as both the countries depended on infrastructure to boost the economy and create job opportunities.

One of the major growth drivers for the infrastructure industry as a whole, and the Crane market in particular, is the China led Belt and Road Initiative, which is aimed at building roads, railways, ports, and energy projects stretching from China’s western regions to Europe.

The demand for construction machinery has increased in Europe as a whole. The ongoing recovery of Europe’s construction industry improved business in the mining and quarrying sectors, and a favorable economic environment with low interest rates further stimulated investments. In 2016, the value of construction work in Great Britain continued to rise in 2016, reaching its highest level on record at Euro 99,266 million, fueled by the continued growth in private sector. These factors are driving the demand for machinery, even in 2018.

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North America Leading the Mobile Crane Market

The crane market is expected to expand, backed by recovery in oil prices and growth in the residential and commercial construction projects in metropolitan cities. Low oil prices played the biggest role in influencing the dynamics of the crane market, especially on the mobile crane segment. The oil companies have scrambled to sell their underused cranes through auctions, leading to a glut in the crane market, consequently bringing down prices of cranes.

The construction sector of the United States is expected to experience solid growth, backed by strong economic fundamentals, such as low unemployment rate, government’s focus on creating infrastructure, and the tightening of monetary policy, which is expected to result in strong capital inflows from the external markets.

However, the newly announced tariffs by the United States on aluminum and steel is expected to increase the costs of cranes significantly, and affect the production and sales of new cranes, pushing consumers to the rental market, for ensuring low operating costs.

The Canadian market is also expected to experience demand from the residential sector, as the country is rebuilding its infrastructure that was damaged by wild fires. The rise in prices of oil and the melting of ice caps in the Arctic is expected to open new trade routes, and lead to new exploration activities, which are expected to increase the demand for marine and offshore cranes.

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Competitive Landscape

Major players operating in the Mobile Crane Market are Liebherr, Cargotec, Tadano, Manitowoc, and Palfinger amongst others. These players have successfully capitalized on the significant demand for reliable cranes, from key players in the construction, mining, and industrial sectors. In terms of tier-2 and tier-3 supply chains and supplying to small- and medium-sized applications, the market studied is fairly fragmented, with the presence of regional players.

The large players have exponentially increased their R&D expenditure, in order to integrate innovation with excellence in Performance. The demand for high-performance, highly efficient, and safe-handling equipment from the end market is expected to make the market studied more competitive and effectively dynamic, during the forecast period.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Current Market Scenario

    2. 4.2 Technology Trends

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

    4. 4.4 Market Drivers

    5. 4.5 Market Restraints

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Wheel-mounted Mobile Crane

      2. 5.1.2 Commercial Truck-mounted Crane

      3. 5.1.3 Side Boom

      4. 5.1.4 Straddle Crane

      5. 5.1.5 Railroad Crane

      6. 5.1.6 Other Mobile Cranes

    2. 5.2 By Application

      1. 5.2.1 Construction

      2. 5.2.2 Mining & Excavation

      3. 5.2.3 Marine & Offshore

      4. 5.2.4 Industrial Applications

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Rest of North America

      2. 5.3.2 Europe

        1. 5.3.2.1 Germany

        2. 5.3.2.2 United States

        3. 5.3.2.3 France

        4. 5.3.2.4 Rest of Europe

      3. 5.3.3 Asia Pacific

        1. 5.3.3.1 China

        2. 5.3.3.2 Japan

        3. 5.3.3.3 India

        4. 5.3.3.4 Rest of Asia-Pacific

      4. 5.3.4 Rest of the World

        1. 5.3.4.1 Saudi Arabia

        2. 5.3.4.2 Other Countries

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Mergers & Acquisitions

    3. 6.3 Company Profiles

      1. 6.3.1 Konecranes PLC

      2. 6.3.2 Cargotec

      3. 6.3.3 Manitowoc

      4. 6.3.4 Terex Corporation

      5. 6.3.5 Tadano Limited

      6. 6.3.6 Kobelco Cranes Co. Limited

      7. 6.3.7 Palfinger AG

      8. 6.3.8 Liebherr-International AG

      9. 6.3.9 Zoomlion Heavy Industry Science and Technology Co. Limited

      10. 6.3.10 Favelle Favco Group

      11. 6.3.11 Sumitomo Heavy Industries Construction Cranes Co. Ltd

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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