Global Mobile Crane Market Forecast, 2021-2022 & 2028: Advanced Mechanized Mobile Crane Solutions and Development of a Large Intralogistics Center in Southeast Asia – ResearchAndMarkets.com

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The Mobile Crane Market is expected to grow from US$17,547.16 Million in 2021 to US$22,261.76 Million by 2028; it is estimated to grow at a CAGR of 3.5% from 2021 to 2028.

The mobile crane market is expected to witness rapid growth in the coming years owing to increased government spending in the construction, mining and port sectors.

The Asia-Pacific region includes large emerging countries such as China and India, where public and private investment in building construction is growing at a faster rate. Likewise, the governments of small countries like Indonesia and the Philippines are attracting investors and driving the growth of the mobile crane market.

However, rising pollution levels and stringent measures taken by governments are forcing major players in the mobile crane market to come up with alternative fuel applications and spend a large chunk of money on researching and developing new cranes. environmentally friendly mobiles. For example, in May 2020, Zoomlion announced the development of the world’s first all-electric truck-mounted crane.

The Asia-Pacific mobile crane market is fragmented, with many players accounting for small market shares. Some of the leading market companies in this region are Konecranes PLC, Sany Group, Cargotec and XCMG.

Major players in the region invest heavily in research and development of new products and deliver mobile cranes worldwide. For example, in April 2020, Saigon Port JSC ordered an eco-efficient Konecranes Gottwald mobile harbor crane for its operations at Tan Thuan Port in southern Vietnam.

The mobile crane market ecosystem includes the following stakeholders: raw material suppliers, mobile crane component manufacturers, OEMs and end users. The major players hold prominent positions in the various nodes of the mobile cranes market ecosystem.

Raw material suppliers provide the components such as steel plates, as well as standard cut-to-length structural tubing that is fabricated into structures by welders. Various sub-assemblies feed a central assembly line for a specific type and model of crane. On the assembly line, steel components are assembled and electronic components are added; moreover, depending on the specifications of a given crane, additional components or accessories are added.

Component manufacturers supply, among other things, hooks, hoists, trolleys, bridges, load measuring systems and lifting magnets for cranes. OEMs in the mobile crane market are responsible for designing, assembling equipment, and transforming raw materials into finished products.

Significant growth in residential and commercial construction activities due to increasing urbanization, growing emphasis on improving vehicle fuel economy, and strong demand for efficient vehicles are expected to present significant opportunities for companies considering entering this market.

Key market dynamics

Key Market Drivers