Mobile Construction Cranes Market to Tap in USD 15.5 billion by 2032 - States Fact.MR

Japan is Expected to be the 2^nd Largest Market in the Mobile Construction Cranes 

Fact.MR's recently published report on the mobile construction cranes market offers a comprehensive analysis of the leading segments in terms of product type, capacity, end use & region. In addition, it provides in-depth information about the market dynamics, including drivers, restraints, latest trends, and growth opportunities. 

NEW YORK, Jan. 27, 2022 /PRNewswire/ -- The global mobile construction cranes market is expected to reach USD 10.5 billion in 2022 and USD 15.5 billion by 2032, increasing at a CAGR of 4% between 2022 and 2032.

The constantly expanding requirement for building machinery has boosted the demand of mobile construction cranes globally. According to a new industry analysis conducted by Fact.MR, a market research and competitive intelligence firm, the global construction machinery market would be worth roughly USD 208 billion by 2022.

The global market for mobile construction cranes will be boosted by increased building construction in metropolitan areas combined with rising rental demand. Buildings and large loads are expanding on congested metropolitan sites as markets recover, necessitating the use of mobile construction cranes.

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Truck crane types are also on the rise in mobile construction cranes, according to manufacturers. The demand for mobile construction cranes is expected to rise as more efforts are made to create highways, dams, railways, and roadways.

HS2 – High Speed 2 Rail Link – United Kingdom; CRL – Cross Rail Development – United Kingdom; LTF – Lyon-Turin High Speed Rail – France; Cargiant/LRP/QPR/GLA – Old Oak Common Regeneration —concrete building in Montreal (Canada) is receiving a USD 100 million refurbishment for new occupants.

After a 2% drop in 2020, construction output in the United States is expected to rise by more than 3% yearly in 2022 and 2023. Demand for single-family housing is driving the performance of residential building. The high demand for home improvement projects and upgrading remains, thanks to increased flexible household income (a result of the massive government stimulus).

However, due to low investment in the last two years due to the COVID-19 epidemic, commercial building construction is anticipated to remain muted in the immediate future. Furthermore, the mobile construction cranes market in the United States is the most important in the region. Due to the government's strong long-term outlook, it is expected to boom in the mid- to long-term.

Key Takeaways:

• East Asia mobile construction cranes market to dominate the global market by holding nearly 30% of overall market share.
• European mobile construction cranes market to rise at a CAGR of 2.6% during the forecast period.
• By product, all terrain crane segment is expected to lead the market share with generating absolute dollar opportunity of over USD 1.9 billion by 2032.
• By end-use industry, construction industry has captured 55% market share in 2022.

Growth Drivers:

• Rising requirement for construction machinery is expected to propel the demand for mobile construction cranes.
• Demand for mobile construction cranes has grown at a rapid rate owing to increased investment in construction technology.
• Significant rise in infrastructure activities to drive the mobile construction cranes market growth.

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Competitive Landscape

Due to the presence of many regional and domestic manufacturers, the worldwide mobile construction cranes market is extremely fragmented and competitive. Collaborations, expansions, partnership mergers and acquisitions, and other marketing tactics have been used by major players.

For example,

• On 4th August 2019, Liebherr International AG, introduced L1-32 crane which is a part of L1 series at Bauma 2019. The crane has the maximum load capacity of 4-tons and the radius of 30 meter.
• On 7^th July 2021, Terex bought MDS International, a multinational firm established in Ireland. The company will be able to grow its operations as well as its customer base as a result of this acquisition.

Key Companies Profiled by Fact.MR are:

• Liebherr International AG
• Terex Corporation
• Manitowoc Co. Inc.
• Tadano Ltd.
• Kobelco Construction machinery
• Palfinger AG
• Sumitomo Heavy Industries
• Zoomlion Heavy Industries
• XCMG Co. Ltd
• Sany Heavy Industries Co. Ltd.
• Konecranes
• Manitex International Inc.
• Link-Belt Cranes L.P.
• Elliot Equipment Company

More Valuable Insights on Mobile Construction Cranes Market

Fact.MR provides an unbiased analysis of the mobile construction cranes market, presenting forecast statistics for the period from 2022-2032. The study divulges compelling insights on the global mobile construction cranes market with a detailed segmentation on the basis of:

• By Product Type :
• Truck Crane
• Rough Terrain Crane
• All Terrain Crane
• Crawler Crane
• By Capacity :
• <100 T
• 100 T-200 T
• 200 T-300T
• >300 T
• By End-Use :
• Construction
• Industrial
• Utility
• By Region :
• North America
• Latin America
• Europe
• East Asia
• South Asia
• Oceania
• MEA

Key Questions Covered in Mobile Construction Cranes Market Report

• The report offers insight into the mobile construction cranes market demand outlook for 2022-2032.
• The market study also highlights projected sales growth for mobile construction cranes market between 2022 and 2032.
• Mobile construction cranes market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry.
• Mobile construction cranes market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.

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All-terrain Cranes Market Analysis - The growing number of construction industries worldwide critical driver for the growth of the global all-terrain cranes market. Realizing the benefits, the skyscraper, mining, and utility industries are adopting all-terrain cranes into their construction sites, boosting all-terrain crane sales globally.

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