Mobile crane is a lifting device used primarily in construction. The cable-controlled crane is mounted on a rubber-tired carrier and it comprises a telescopic boom. The report about the global mobile crane market released by Market Research Future (MRFR) envisions expansion for this market at 4% CAGR between 2017 and 2023.
By monitoring the market structure, this report mensurates the future growth potential of the market. It chalks the strategies of major market players and aids the competitive developments like new product developments, research & development (R&D), mergers & acquisitions, and joint ventures in the market.
The greatest factor driving the global mobile crane market share is increasing focus on infrastructural developments. The second factor helping the market growth include power distribution as construction, as well as, maintenance activities require the use of power. Other factors ensuring profitability for global mobile crane market include the adoption of a global positioning system (GPS) technology by the equipment holders, subsequent operational efficiency, and adoption of telematics.
The global mobile crane market segmentation covers alloy application and product. MRFR is exploring the features of these segments to understand market trends.
The application-based segmentation of this market covers building cars, construction, industries, shipbuilding, and others.
Based on product, the market has been segmented into crawled cranes, wheeled mobile cranes, and others.
The regional segmentation of the global mobile crane market covers Asia Pacific, North America, Europe, and Rest of the World (RoW).
During the forecast period, the Asia Pacific region can appear as the fastest growing regional market due to the rising demand for infrastructure-related innovations by the commercial construction industry and residential construction industry. Other factors driving the market growth include the booming construction industry, increasing urbanization, the introduction of smart cities, and political stability in the region. Most important economies in this region that can be major markets are China and India as both countries have a high density of population and growing industries. Japan can be another important country-specific market due to technological advancement. Key market players operating in this region are based in China and Japan.
North America is another important market due to the presence of many key market players in the USA. In this region, the market is growing slowly but steadily as most cities in this region have advanced infrastructure. After USA, Canada is the most important country-specific market in this region.
In Europe, the market is growing primarily due to reasons that are same as North America. However, Europe has more population than North America, and all countries in Europe are not as advanced as the USA. Country-specific markets of substance in this region are France, Germany, and the UK.
In the RoW segment, there are countries in South America, Africa, and the Middle East that have poor infrastructure. Therefore, in these regions, there can be many countries where demand for construction equipment and necessary maintenance can be high.
Major players in the global mobile crane market include Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd (Japan), Kato-works Co. Ltd. (Japan), Liebherr Group (Switzerland), LiuGong Machinery Co., Ltd. (China), Manitowoc Company Inc. (USA), Palfinger AG (Austria), Sany Group Co. Ltd (China), Tadano Ltd. (Japan), Terex Corporation (USA), XCMG Group (China), and Zoomlion Co. Ltd. (China).