North America Mobile Crane Market Size

North America Mobile Crane Market Analysis

The North American mobile crane market is projected to register a CAGR of over 6% during the forecast period (2022 - 2027).

After the global recession in 2009, the construction sector in North America showed robust growth on account of the economic recovery and infrastructural developments, leading to the growth of construction and the dependent markets.

Government initiatives, such as Build America Investment Initiative, National Infrastructure Plan (NIP), and Canada's Economic Action Plan, aim to develop the infrastructure in the region through private investments.

Increasing construction activities are expected to boost the demand for mobile cranes in North America over the next five years. The projects taken up by the oil and gas industries are expected to create a huge demand for mobile cranes and other construction equipment in North America.

In 2020, the North American market for mobile cranes witnessed a steady decline as the government imposed strict lockdown measures across the region during the COVID-19 outbreak. In addition, the United States remained among the top countries that were significantly affected by the pandemic. Ongoing infrastructure projects and construction sites were shut down during this time, which greatly impacted the market for mobile cranes.

Productivity and requirement declined, and the number of workers at the sites decreased, creating a decline in the demand for mobile cranes. However, the market is gaining momentum. Immediately after Q3 2021, governments lifted several regulations and measures to boost the losses faced by several markets in North America.