Latest News:- Mobile Crane Market: Truck mounted crane is expected to lead the Type segment during 2024-2028

Mobile Crane Market to grow at a CAGR of 7.22% during 2024-2028

The Mobile Crane Market is expected to grow at a CAGR of 7.22% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 10003.2 million. In the evolving landscape of the mobile crane market, telematics is increasingly becoming a game-changer for equipment owners and fleet managers. This GPS-driven technology, hitherto a preserve of large enterprises, is now gaining traction among rental companies of all sizes. The financial consideration is undeniably a crucial factor in any business decision. However, the compelling advantages of telematics, including heightened operational efficiency and profitability, are compelling firms to invest in this technology. The data generated by telematics empowers operators to conduct comprehensive analyses of equipment performance, location, fault codes, and other critical features, ultimately leading to enhanced profitability for the organization. 

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The Truck mounted crane subsegment is expected to dominate the Type segment during the forecast period 

Technavio analysts predict that the Truck mounted crane subsegment will lead the Type segment during 2024 and 2028 In the realm of crane technology, truck-mounted cranes represent a highly versatile and mobile solution for lifting and transporting heavy objects across various industries. These cranes, mounted on trucks for easy transportation, are indispensable in construction, infrastructure development, transportation, and industrial sectors. Their mobility is a significant advantage, enabling swift relocation to different job sites and rapid setup, making them an essential asset for projects requiring frequent equipment movement. Truck-mounted cranes cater to an array of tasks, from lifting and transporting heavy machinery to installing electrical poles and streetlights. Their adaptability and mobility make them a preferred choice for businesses seeking efficient and agile solutions for their heavy lifting needs.

Here are the various ways based on which the market is segmented: 

• Type
  • Truck mounted crane
  • Trailer mounted crane
  • Crawler crane
• Application
  • Construction
  • Industrial
  • Utilities
• Geography
  • APAC
  • Europe
  • North America
  • South America
  • Middle East and Africa

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There are several factors that are causing the market to flourish increased infrastructure-based development

Learn which are the obstacles that the market is experiencing in the way of its growth by accessing the free PDF report

Research Analysis Overview

The mobile crane market encompasses a wide range of crane types, including urban cranes, off-road cranes, jib cranes, lattice boom cranes, and telescopic boom cranes. Urban cranes are designed for use in densely populated areas, while off-road cranes are built for rough terrain. Lattice boom cranes and telescopic boom cranes differ in their boom structures, with lattice booms providing greater lifting capacity and telescopic booms offering greater mobility. Mobile cranes come with various outriggers, such as Crane Outriggers, to ensure stability during hoisting and lifting operations. Crane safety is paramount, and operators must be properly trained and certified to ensure Crane Parts function optimally and Crane Safety regulations are followed. The lifting capacity and load capacity of mobile cranes vary, making them suitable for different industrial applications. Crane Fleet management is crucial for businesses that rely on heavy machinery, and Crane Rental services offer flexible solutions for projects with varying requirements. Industrial cranes, such as lattice boom cranes, crawler cranes, all terrain cranes, rough terrain cranes, hydraulic cranes, and truck mounted cranes, are essential for heavy lifting tasks. Mobile cranes' versatility, combined with their ability to adapt to various terrains and applications, makes them indispensable in the construction, mining, and energy industries.

Market Research Overview

The global construction machinery and heavy transportation equipment market encompasses a range of product sectors, including heavy-duty trucks, compact earthmoving equipment, road construction and compaction machinery, crushing and screening devices, concrete equipment, civil engineering tools, and lifting solutions. Factors fueling the expansion of this market include the rapid pace of urbanization, resulting in substantial investments in construction projects. This trend is driven by the expanding population and subsequent demand for residential properties, such as single-family homes and multi-family dwellings, as well as commercial structures like condominiums, hospitals, hotels, and offices.

The Mobile Crane Market is experiencing significant growth, fueled by the increased infrastructure-based development. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.

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