Mobile Cranes Market By Provider, End User, Market Size, Trends, Scope, Industry Growth, Bank Falter And Forecast 2023-2032|Terex Corporation, Kobelco Construction Machinery Company Limited, Palfinger AG, Bauer AG, SANY Group

The Mobile Cranes Global Market Report 2023 by The Business Research Company, provides mobile cranes market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten-year historic period – 2010-2021, and a ten-year forecast period – 2023-2032.

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According to The Business Research Company’s Mobile Cranes Global Market Report 2023, the market size is expected to grow from $14.75 billion in 2022 to $15.62 billion in 2023, at a compound annual growth rate (CAGR) of 5.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The mobile cranes market size is expected to grow to $19.30 billion in 2027 at a CAGR of 5.4%.

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.

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The mobile cranes market 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: