The global mobile cranes market size is expected to reach USD
17.03 billion by 2025, according to a new report by Grand View Research, Inc.
The market is expected to register a CAGR of 6.1% over the forecast period.
Rising construction activities focused on the refurbishment of existing infrastructures
and increasing government initiatives for building better infrastructures, such
as houses, schools, hospitals, stadiums, government buildings, and airports,
are anticipated to boost the market growth. The increasing application of
mobile cranes in both core and non-core industrial projects and maintenance
works is also expected to propel their demand over the forecast period.
In India, the demand for mobile cranes is
growing owing to the increasing number of infrastructure projects, which has
led to requirements for erection and lifting. The growth is evident in the
industrial as well as the core infrastructure sectors. Mobile crane
manufacturers and rental agencies are witnessing an upsurge in demand for
medium and high capacity cranes. Mobile cranes are widely used in India for
major industrial applications such as power plants and turbine manufacturing.
Meanwhile, the demand for mobile cranes in
China is growing due to the One Belt One Road initiative taken by the
government in the country. Through this initiative, the Chinese government aims
to develop better trade facilities such as roads, bridges, and infrastructure
such as energy projects, railway, and buildings between China, India, Pakistan,
and Europe. Moreover, house building projects have increased in Europe, mainly
in London and South East Europe, thus providing a good pipeline for
infrastructure work.
Meanwhile, the U.S. government is anticipated
to increase its infrastructure expenses by over USD 1 trillion over the next
ten years in order to create more jobs. This initiative is expected to bolster
the demand for mobile cranes in the country. Additional factors that have
propelled the market growth include increasing competition, growing use of
mobile cranes in the mining companies, robust industrialization,
commercialization, adoption of telematics, and the use of GPS technology in
mobile cranes.
Browse full research report on Mobile
Cranes Market:
https://www.grandviewresearch.com/industry-analysis/mobile-cranes-market
Further key
findings from the study suggest:
- The market for mobile cranes is expected to
register a CAGR of 6.1% from 2019 to 2025
- The truck mounted segment emerged as a
prominent product segment in 2018. The demand for crawler cranes is
increasing in the Middle East & Africa owing to the growing oil &
gas industry in the region
- The Asia Pacific regional mobile crane market
is projected to witness substantial growth over the next decade owing to
growing construction activities in the region
- Key players operating in the market include
Liebherr-International AG, Manitowoc, XCMG Group, Kobelco Construction
Machinery Co. Ltd., and Tadano Ltd., accounting for majority shares of the
total revenue in 2018.
Browse request sample of this report by
Grand View Research:
https://www.grandviewresearch.com/industry-analysis/mobile-cranes-market/request/rs1
Grand
View Research has segmented the mobile crane market on the basis of product
type, application type, and region:
Mobile Crane
Product Type Outlook (Revenue, USD Billion, 2015 - 2025)
- Truck Mounted
- Trailer Mounted
- Crawler Crane
Mobile Crane
Application Type Outlook (Revenue, USD Billion, 2015 - 2025)
- Construction
- Industrial
- Utility
Mobile Crane
Regional Outlook (Revenue, USD Billion, 2015 - 2025)
- North America
- U.S.
- Canada
- Europe
- U.K.
- Germany
- Asia Pacific
- China
- India
- Japan
- Latin America
- Brazil
- Mexico
- Middle East &
Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market
research and consulting company, registered in the State of California and
headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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