Mobile Cranes Market Growth & Trends
The Mobile Cranes Market size is expected to reach $17.52 billion by 2027, growing at a CAGR of 4.8% between 2020 to 2027 as per the new research report published by Confianza Market Research & Consultancy.
Cranes are the equipment that is used to lift the powerful weights to tons. This type of equipment is used in various vibrant applications such as automotive, construction, power projects, hydro projects, etc. Mobile cranes are easily accessible at small construction sites based in urban areas. Mobile cranes perform the same task as the fixed/tower cranes with less site space. They don’t need assembling on each site and hence it is beneficial in terms of saving the labor cost as well as time, this is the main reason behind the growth of the mobile crane industry.
One of the major reasons behind the evolution of this industry is the increase in the rate of construction in residential and commercial areas in developing countries. Looking towards the government rules on road safety can enhance this industry in the forecast period. Aftermarket support plays a significant role in reinforcing this industry. The Asia Pacific is the most protuberant player in the mobile crane market. Some industries use mobile cranes for different operations from countries like Japan, South Korea, India, China. The middle east market is expected to grow in the forecast period as it has started investing in residential and commercial infrastructures.
Most of the construction companies prefer to take mobile cranes on the rent due to its high procurement cost. Also, the repair and maintenance cost of the cranes is very high as compared to other construction equipment hence the companies prefer to take them on rent. This can be the reason for the shrinkage of the growth of the mobile crane market.
Read Detailed Market Analysis & View Sample Report Here: Mobile Cranes Market Size, Share & Trend Analysis Report 2020-2027 (PDF)
Mobile Cranes Market — Segmentation
Confianza Market Research has segmented the Mobile Cranes Market as mentioned below:
- Product Type Outlook (Revenue, USD Billion, 2015 – 2025)
- Truck Mounted
- Trailer Mounted
- Crawler Crane
- Application Type Outlook (Revenue, USD Billion, 2015 – 2025)
- Regional Outlook (Revenue, USD Billion, 2015 – 2025)
- North America
- The U.S.
- The U.K.
- Asia Pacific
- Latin America
- Middle East & Africa
- North America