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

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

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As of 2017, the North American mobile crane market was valued at USD 3.06 billion with a CAGR of 6.28% during the forecast period (2018-2023). The market for mobile cranes is driven by growth in infrastructure projects in the United States and Mexico.

The market in the North American region is expected to witness high growth owing to massive infrastructure spending by the United States. The US government is expected to increase its infrastructure spending by over USD 1 trillion in the next 10 years, with an aim to create more jobs in the country. Although the market is facing significant challenges in the region as growing protectionism and the ensuing trade barriers, both, tariff and non-tariff are expected to significantly dent the demand for cranes, as the prices of raw materials are expected to shoot up. For, example the United States has imposed tariffs on steel and aluminum imports, which will lead to an increase in the cost of manufacturing machinery in the United States.

Growth of the Oil & Gas Industry in North America

The demand for new cranes used in oil and gas exploration machinery is poised to grow considerably over the forecast period. The oil & gas sector is shifting from established traditional reserves to more expensive and complicated oil & gas resources, such as shale and deep-water projects. Extraction from these non-conventional oil reserves requires a substantial application of sophisticated machinery and equipment, including cranes. Usage of safe and efficient hauling cranes and tower cranes, primarily designed and constructed for the oil & gas industries, would drive the growth of these particular cranes. Offshore cranes are commissioned for assembly, repair, and supply of all oil & gas extraction systems. These cranes are mostly used on floating installations where larger boom lengths and higher loads are required. Modern manufacturers are also providing additional features to serve the oil & gas industry. For instance, knuckle boom crane (RL-K) offered by Liebherr is equipped with different pipe grabbers, capable of handling pipes and load manipulators.

The growth in the US oil and natural gas exploration and processing has been a standout in the global oil & gas market, and it offers significant growth potential during the forecast period. It is estimated that the oil & gas infrastructure in the country promises tremendous opportunity in the usage of cranes in the industry. There is an expected investment opportunity of more than USD 500 billion for gas and oil distribution upgrades, natural gas storage facilities, gas processing, and for rail investment. The industry is also expected to recover from the declining price trend, as it has been witnessing over the last two years, mainly due to the upturn in the demand-side dynamics of the market.

Mexico Expected to Witness Increased Demand

In Mexico, the government has planned to invest in new highways, rail lines, and telecommunication infrastructure, as well as in the modernization of ports. It is expected to see an investment of USD 300 billion in infrastructure through the year 2018. Thus, the increasing construction activities are expected to steer the construction equipment market in the country. The growth is mainly driven by private investment. Owing to the low-interest rates on mortgage loans, increased funding for housing companies, and increased subsidies, the housing construction industry has seen a rebound.

KEY DEVELOPMENTS IN THE MARKET:

  • June 2018: Manitowoc has launched Grove TMS500-2, a new truck crane, the cranes have a lifting capacity of 36 tons. The TMS500-2 is a lightweight truck crane which ensures ease of travel among job sites. The company has targeted housing sector for execution of works like steel erection and HVAC installation.
  • December 2017: Kobelco Construction Machinery Co., Ltd. Launched CK3300G-2 (North American model, its new hydraulic crawler cranes with a lifting capacity of 300 metric tons for a standard crane as the construction industry is demanding mobile cranes with higher lifting capacity coupled with improved productivity and safety.

Reasons to Purchase this Report:

  • Provides latest insights into the North America Mobile Crane industry.
  • Gives a detailed analysis of the competitive landscape in the North America mobile crane market.
  • Analyzes the market scenario with the help of Porter’s Five Forces Analysis.
  • Forecasts the market value by assessing the impact of the market drivers and constraints.
  • Answers questions like
    1. How infrastructure investments in the region will impact the market?
    2. What are the latest trends in terms of technology in the North American mobile crane market?
  • Three months analyst support, along with the Market Estimate Sheet in excel

Report Customization and Benefits:

This report can be customized to meet the desired requirements. Please connect with our analyst, who will ensure you get a report that suits your needs.

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 Degree of Competition

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 United States

6.2 Canada

6.3 Mexico

6.4 Rest of North America

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 Palfinger AG

8.8 Favelle Favco Group

8.9 Tadano Limited

8.10 Manitowoc Company, Inc

*List not Exhaustive

9. Disclaimer

**Subject to Availability on Public Domain

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