Latest News- Mobile Crane Market: Truck mounted crane is expected to lead the Type segment during 2025-2029

The Mobile Crane Market is being driven by Increased infrastructure-based development

The Mobile Crane Market is expected to grow at a CAGR of 7.6% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 11242.3 million. Telematics, a GPS-based technology, is revolutionizing the mobile crane market by offering significant benefits to equipment owners and fleet managers. Traditionally, only large corporations have implemented this technology due to its initial investment. However, advancements in telematics have made it accessible to rental companies of all sizes. Despite the upfront cost, the technology's advantages, such as enhanced operational efficiency and profitability, are compelling firms to invest. Telematics data enables detailed analysis of equipment operation, location, fault codes, and other features, ultimately leading to increased profits. 

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Which Factors Are Causing a Surge in Market Growth?

The market is segmented based on

• Type
  • Truck mounted crane
  • Trailer mounted crane
  • Crawler crane
• Application
  • Construction
  • Industrial
  • Utilities
• Capacity
  • Upto 50 ton
  • Above 200 ton
  • 51 to 100 ton
  • 101 to 200 ton
• Product Type
  • Telescopic boom
  • Lattice boom
• Geography
  • APAC
    • China
    • India
    • Japan
    • South Korea
  • Europe
    • Germany
    • UK
    • France
  • North America
    • Canada
    • US
  • South America
  • Middle East and Africa

According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows: 

• Increased infrastructure-based development
• Growing demand from utilities sector
• Expansion in industrial construction and maintenance

However, the market also witnesses some limitations, which are as follows:

• Stringent emission norms
• Lack of skilled and qualified crane operators
• Growing cost of compliance

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Market Scope in Mobile Crane Market Research Report

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Research Analysis Overview

The Mobile Crane Market encompasses various types of cranes, including boom and jib extensions, luffing cranes, lattice boom cranes, truck-mounted cranes, and compact cranes. These cranes cater to diverse industries, handling heavy-duty and high-capacity lifting needs for oversize loads, critical lifts, and precision lifting in sectors like industrial maintenance, power generation, and construction equipment rental. Financing, insurance, safety regulations, and inspection services are essential components of the market, along with preventive maintenance, telematics platforms, and remote diagnostics. Emission reduction, renewable energy, operator training programs, and crane certification bodies also play significant roles. Crane engineering, design, manufacturing, assembly, dismantling, transportation, and logistics are integral parts of the market value chain.

Market Research Overview

In the context of the global construction machinery and heavy transportation equipment market, according to Technavio, the mobile crane segment comprises various types, such as telescopic boom cranes, hydraulic cranes, crawler cranes, rough terrain cranes, and all-terrain cranes. This market segment falls under the broader construction machinery and heavy transportation equipment industry, which encompasses product categories like heavy-duty trucks, compact earthmoving equipment, road construction and compaction equipment, crushing and screening equipment, concrete equipment, civil engineering equipment, lifting equipment, and related machinery. The expansion of the global construction machinery and heavy transportation equipment market will be fueled by factors including the rapid urbanization leading to increased investments in construction projects, with a growing population driving the demand for residential properties, including single-family homes and multi-family dwellings.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

Technavio Research
Jesse Maida
Media & Marketing Executive
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/