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 providing significant benefits to equipment owners and fleet managers. Initially adopted by large corporations, this technology is now gaining traction among rental companies of all sizes. The cost-effective advantages, including enhanced operational efficiency and profitability, are compelling firms to integrate telematics into their operations. This technology enables detailed analysis of equipment performance, location, fault codes, and other features, ultimately leading to increased revenue for businesses. 

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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, high-capacity lifting needs for oversize loads and critical lifts. Precision lifting is ensured through spreader beams, lifting magnets, and slewing cranes. Industrial maintenance, power generation, construction equipment rental, crane financing, and insurance are key sectors. Crane safety regulations, inspection, preventive maintenance, telematics platforms, remote diagnostics, data analytics, and predictive maintenance ensure optimal performance. Emission reduction, renewable energy, operator training programs, crane certification bodies, safety audits, load capacity optimization, lifting plan development, crane engineering, design, manufacturing, assembly, dismantling, transportation, and logistics are integral parts of the market.

Market Research Overview

In the scope of Technavio's research, the mobile crane market is identified as a segment of the expansive global construction machinery and heavy transportation equipment market. This market encompasses a range of product categories, such as heavy-duty trucks, compact earthmoving equipment, road construction and compaction equipment, crushing and screening equipment, concrete equipment, civil engineering equipment, and lifting equipment, including telescopic booms, hydraulic cranes, crawler cranes, rough terrain cranes, and all-tererrain cranes. The growth of this market is primarily fueled by the burgeoning construction sector, driven by urbanization and the subsequent surge in demand for residential properties, be it single-family homes or multi-family dwellings. The expanding population necessitates increased investments in infrastructure development, leading to a heightened need for advanced lifting equipment solutions.. 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/