Global Mobile Crane Market (2021-2026) – Growth, Trends, COVID-19 Impact, and Forecast

DUBLIN, January 07, 2022– (COMMERCIAL THREAD)–The “Mobile Crane Market – Growth, Trends, Impact of COVID-19 and Forecast (2021 – 2026)” the report was added to ResearchAndMarkets.com offer.

The mobile crane market was valued at USD 15.72 billion in 2020 and is expected to reach USD 22.73 billion by 2026, registering a CAGR of 6.34% during the forecast period.

Companies mentioned

  • Konecranes PLC

  • Cargotec

  • Manitowoc

  • Terex Company

  • Tadano Limited

  • Kobelco Cranes Co. Limited

  • Palfinger AG

  • Liebherr International AG

  • Zoomlion Heavy Industry Science and Technology Co. Limited

  • Favelle Favco Group

  • Sumitomo Heavy Industries Construction Cranes Co. Ltd

Key market trends

Increase in construction and renovation activities

The predicted increase in demand for construction equipment across the globe is a driving factor for the mobile crane market. Various government initiatives and the exponential increase in the need for new and improved structures are increasing market opportunities for the construction market.

The increased need for renewable energy sources like power from wind turbines is also another region offering great opportunities for the mobile crane market. The compact space advantage offered by mobile cranes makes them easier to fit into cramped construction areas for operations. Rough terrain cranes with high torque and rough terrain navigation capabilities are in great demand in construction and mining industries due to the operational advantages and efficiency that these cranes offer.

Europe is another important region for the construction machinery market and hence the mobile crane market. Germany, for example, recorded a 26% market share for construction equipment in Europe in 2020, followed by France at 13%. With immense construction activity in Germany, France and Europe as a whole in 2020, directly indicates great market potential for the mobile crane market.

North America, market leader in mobile cranes

The crane market is expected to grow, supported by the recovery in oil prices and the growth of residential and commercial construction projects in metropolitan cities. Low oil prices have influenced the dynamics of the crane market the most, especially in the mobile crane segment. Oil companies rushed to auction off their underused cranes, resulting in a glut in the crane market, pushing down crane prices.

The construction sector in the United States is expected to experience solid growth, supported by strong economic fundamentals such as low unemployment, the government’s emphasis on building infrastructure and tightening policy. monetary policy, which should lead to significant inflows of capital from foreign markets.

However, the recently announced US tariffs on aluminum and steel are expected to dramatically increase crane costs and affect the production and sales of new cranes, pushing consumers into the rental market, to guarantee low operating costs.

The Canadian market is also expected to experience demand from the residential sector, as the country rebuilds its infrastructure damaged by forest fires. Rising oil prices and melting ice caps in the Arctic are expected to open up new trade routes and lead to new exploration activity, which is expected to increase demand for marine and offshore cranes.

Main topics covered:

1. INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market driver

4.2 Market restriction

4.3 Industry Attractiveness – Porter’s Five Forces Analysis

5 MARKET SEGMENTATION

5.1 By type of machine

5.1.1 Mobile crane

5.1.2 Fixed crane

5.1.3 Maritime and port cranes

5.2 By type of request

5.2.1 Construction

5.2.2 Mining and excavation

5.2.3 Maritime & Offshore

5.2.4 Industrial applications

5.2.5 Others

5.3 Geography

5.3.1 North America

5.3.1.1 United States

5.3.1.2 Canada

5.3.1.3 Rest of North America

5.3.2 Europe

5.3.2.1 Germany

5.3.2.2 United States

5.3.2.3 France

5.3.2.4 Rest of Europe

5.3.3 Asia-Pacific

5.3.3.1 China

5.3.3.2 Japan

5.3.3.3 India

5.3.3.4 South Korea

5.3.3.5 Rest of Asia-Pacific

5.3.4 Rest of the world

5.3.4.1 South America

5.3.4.2 Middle East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Supplier market share

6.2 Company profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information on this report, visit https://www.researchandmarkets.com/r/tvfyn5

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220107005441/en/

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