Oil & Gas

Crane Market Size & Share, Growth Forecasts Report 2024

The Mobile Cranes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

Learn More On The Mobile Cranes Market:

https://www.thebusinessresearchcompany.com/report/mobile-cranes-global-market-report

According to The Business Research Company’s Mobile Cranes Global Market Report 2024, The mobile cranes market size has grown strongly in recent years. It will grow from $15.67 billion in 2023 to $16.72 billion in 2024 at a compound annual growth rate (CAGR) of 6.7%. The growth in the historic period can be attributed to construction boom, infrastructure development, increased urbanization, oil and gas exploration, port and shipyard development, growth in manufacturing, government investments..

The mobile cranes market size is expected to see strong growth in the next few years. It will grow to $21.3 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing safety regulations, expansion of wind energy, focus on sustainable construction, demand for compact and all-terrain cranes, infrastructure modernization.. Major trends in the forecast period include telematics and iot integration, growth in rental market, infrastructure rehabilitation and maintenance, customization for specific applications, digitalization of crane operations..

Government initiatives for construction activities are expected to propel the growth of the mobile cranes market going forward. Various governments across the world are encouraging construction to improve the infrastructure. Construction of buildings and the installation of huge equipment both frequently use mobile cranes. For instance, in January 2021, the Saudi Arabian government unveiled plans for a 100-mile belt of walkable, zero-energy communities. The 100-mile (170-kilometer) megacity, which it refers to as ‘city modules,’ will connect Saudi Arabia’s northwestern region with the Red Sea coast. There won’t be any automobiles or streets in the city, and everyone in it can get by on foot in less than five minutes. Therefore, government initiatives are driving the growth of the mobile cranes market.

Get A Free Sample Of The Report (Includes Graphs And Tables):

https://www.thebusinessresearchcompany.com/sample.aspx?id=8131&type=smp

The mobile cranes market covered in this report is segmented –

1) By Product Type: Truck Mounted Crane, Trailer Mounted Crane, Crawler Crane

2) By Terrain Type: On road, Rough Terrain, All Terrain

3) By Application Type: Construction & Mining , Utility, Manufacturing, Transport/Shipping, Oil and Gas/Energy

Technological advancements have emerged as a key trend gaining popularity in the mobile cranes market. Major companies operating in the mobile cranes market are adopting new technological solutions to sustain their position. For instance, in May 2021, Terex Corporation, a US-based manufacturer of lifting and material-handling equipment, launched the T-Link Telematics platform. This platform can be fitted with Terex Rough Terrain Cranes, giving customers access to real-time data that can be used to control crane configuration information, crane status, alarms, crane position, and scheduled maintenance alerts, in addition to optimizing performance. T-Link gives customers remote access to their fleet of cranes’ operational data so they can get accurate, up-to-date information from the field around-the-clock, from any location in the world, using an internet-connected computer, smartphone, or tablet. The development of this innovative technology is another step forward in the mobile cranes market.

The mobile cranes market report table of contents includes: