Emphasis on Type (Truck Crane, All-Terrain Crane, Rough Terrain Crane, Crawler Crane, and Others); Application (Construction, Oil & Gas, Shipbuilding, Power & Utilities and Others); and Region/Country
Global Mobile Cranes Market is expected to grow at a significant rate of around 6% during the forecast period. A mobile crane helps to move heavy equipment and material from one place to another within the construction site. The continued urbanization and the initiatives by the government towards new projects and upgrading the existing infrastructure are the factors driving the growth of the market. Mobile cranes need less space and are more powerful which tends to increase their need during construction. In addition, companies are working to introduce remotely operated cranes for easy control. For instance, in February 2021, Manitex Valla of Italy, a subsidiary of U.S.-based Manitex International, launched the V110 R electric mobile crane, which is battery-operated and remote-controlled.
Action Construction Equipment Ltd, Fassi Gru S.p.A, KATO WORKS CO., LTD, Kobelco Construction Machinery Co. Ltd, Liebherr-International Deutschland GmbH, The Manitowoc Company Inc, Palfinger AG, Sany Group, Tadano Ltd, Terex Corporation are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.
Insights Presented in the Report
“Amongst type, crawler crane category to witness robust CAGR during the forecast period”
Based on type, the market is segmented into a truck crane, all-terrain crane, rough terrain crane, crawler crane, and others. The crawler cranes category is to witness a higher CAGR during the forecast period. Crawler crane are highly complex and offer easy accessibility during small construction sites, majorly in urban areas. Moreover, they are used for carrying heavy-lift Mendes which is also driving segmental growth. The key players are launching advanced cranes to maintain a strategic edge in the market. For instance, in 2022, Liebherr announced the launch of LR 12500-1.0 crawler crane in Germany.
“Amongst application, the construction to hold a significant share in the market in 2020”
Based on application, the mobile cranes market has been classified into construction, oil & gas, shipbuilding, power & utilities and others. The construction category is expected to hold a significant share of the market during the forecast period. The rising importance of safe, cost-effective, and speedy material handling activities in construction, the rising urbanization rate and the growing population in construction are driving the growth of the market.
“APAC to hold significant share in the market”
For a better understanding of the market adoption of the Mobile Cranes industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. APAC is anticipated to hold a significant share in the market. The rising adoption of advanced technology-based machinery integrated with high-end applications is promoting the overall market potential. The increasing investment of the government to increase advancement in the infrastructure. The rising purchasing power of people, rapid urbanization, growing population, and government efforts to provide affordable housing are projected to enhance the requirement for mobile cranes.
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1. Market Introduction
2. Research Methodology Or Assumption
3. Market Synopsis
4. Executive Summary
5. Impact Of Covid-19 On The Mobile Cranes Market
6. Mobile Cranes Market Revenue, 2020-2028f
7. Market Insights By Type
8. Market Insights By Application
9. Market Insights By Region
10. Mobile Cranes Market Dynamics
11. Mobile Cranes Market Opportunities
12. Mobile Cranes Market Trends
13. Demand And Supply-side Analysis
14. Value Chain Analysis
15. Competitive Scenario
16. Company Profiled
17. Disclaimer
Research Methodology for the Mobile Cranes Market Analysis (2022-2028)
Analyzing the historical market, estimating the current market, and forecasting the future market of the global mobile cranes market were the three major steps undertaken to create and analyze the adoption of mobile cranes in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global mobile cranes market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:
Analysis of Historical Market Size
Step 1: In-Depth Study of Secondary Sources:
Detail secondary study was conducted to obtain the historical market size of the mobile cranes market through company internal sources such as annual reports & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.
Step 2: Market Segmentation:
After obtaining the historical market size of the mobile cranes market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments are included in the report as type and application. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.
Step 3: Factor Analysis:
After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the mobile cranes market. Further, we conducted factor analysis using dependent and independent variables such as various type and application of mobile cranes. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the mobile cranes market sector across the globe.
Current Market Size Estimate & Forecast
Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global mobile cranes market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.
Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2028 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:
Market Size and Share Validation
Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.
Split of Primary Participants in Different Regions
Market Engineering
The data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global mobile cranes market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of type and application in the global mobile cranes market.
The main objective of the Global Mobile Cranes Market Study
The current & future market trends of the global mobile cranes market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments on the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit from a first-mover advantage. Other quantitative goals of the studies include:
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