Mobile Crane Market (2024-2028): Growth Driven by Infrastructure Expansion and Technological Advancements

The mobile crane market is projected to expand by USD 10 billion from 2024 to 2028, growing at a CAGR of 7.22%. This growth is driven by increasing infrastructure projects across the construction, energy, and industrial sectors. The adoption of mobile cranes is surging due to their mobility, versatility, and efficiency in heavy lifting operations. In parallel, advancements such as telematics integration are improving operational efficiency and safety. However, stringent emission regulations are challenging manufacturers to develop eco-friendly crane solutions.

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Market Segmentation

By Type:

Truck-Mounted Cranes – This segment dominates the market due to its ease of mobility and adaptability in various industries, including construction, logistics, and infrastructure projects.
Trailer-Mounted Cranes – Widely used for industrial applications requiring heavy lifting and mobility across job sites.
Crawler Cranes – Preferred for high-reach applications, particularly in energy, shipyard, and large-scale construction projects.

By Application:

Construction – The primary driver of mobile crane demand, fueled by global infrastructure expansion and urbanization.
Industrial – Heavy machinery requirements in manufacturing and power plants are boosting the adoption of mobile cranes.
Utilities – Growing energy sector investments, including renewable energy projects, are increasing the demand for cranes in power transmission and distribution applications.

Regional Market

APAC (58% Market Contribution)

China – Increasing investments in infrastructure and rapid urbanization drive mobile crane demand.
Japan – The need for aging infrastructure renovation fuels the adoption of advanced crane technologies.

Europe

Germany – Expansion in renewable energy and commercial construction boosts crane usage.
France – Infrastructure development and transportation projects sustain market growth.

North America

US – Rising commercial and residential construction activities contribute to strong mobile crane sales.

South America

Expanding mining and industrial projects support the demand for heavy lifting equipment.

Middle East & Africa

Infrastructure development, particularly in the UAE and Saudi Arabia, is propelling the mobile crane market.

Market Dynamics

Key Drivers

Infrastructure Development – Increasing investments in transportation, energy, and commercial projects are driving the need for mobile cranes across regions.
Growth in Construction Sector – Rising urbanization and demand for high-rise buildings fuel mobile crane adoption.
Industrial Expansion – Manufacturing and utility sectors increasingly rely on cranes for material handling and installation tasks.

Emerging Trends

Telematics Integration – The use of GPS-based systems enhances fleet management, safety, and operational efficiency.
Automation in Cranes – Advanced crane control systems, including remote diagnostics and autonomous functions, improve precision and productivity.
Increased Crane Leasing – Businesses prefer rental services to optimize costs and access modern equipment.

Market Challenges

Stringent Emission Regulations – Compliance with Tier 4 and other environmental norms is driving manufacturers to develop low-emission and electric cranes.
High Maintenance Costs – Frequent servicing and certification requirements add to operational expenses.
Workforce Skill Gaps – The need for trained crane operators poses challenges in maintaining safe and efficient operations.

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Key Companies in the Mobile Crane Market

Some of the key companies of the Mobile Crane Market are as follows:

Action Construction Equipment Ltd.
Altec Inc.
Bocker Maschinenwerke GmbH
Broderson Manufacturing Corp.
Cargotec Corp.
Caterpillar Inc.
Deere and Co.
Escorts Ltd.
Konecranes
Liebherr International Deutschland GmbH
MEDIACO LEVAGE
Sany Group
SENNEBOGEN Maschinenfabrik GmbH
Shanghai Zhenhua Heavy Industries Co. Ltd.
Tadano Ltd.
Terex Corp.
The Manitowoc Co. Inc.
Tiong Woon Corp. Holding Ltd.
Xuzhou Construction Machinery Group Co. Ltd.
Zoomlion Heavy Industry Science and Technology Co. Ltd.

Recent Market Developments

January 2024 – Liebherr International Deutschland GmbH introduced an advanced hybrid mobile crane to meet sustainability goals.
March 2024 – Tadano Ltd. expanded its product lineup with an all-terrain crane featuring enhanced lifting capacity.
May 2024 – Konecranes launched a new telematics system for remote monitoring and predictive maintenance.
July 2024 – The Manitowoc Co. Inc. announced a strategic partnership with a major construction firm to enhance crane fleet efficiency.
September 2024 – Zoomlion Heavy Industry Science and Technology Co. Ltd. unveiled a new crawler crane optimized for offshore wind energy projects.