Wheeled Crane Market- Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032
Description
Market Overview
The Wheeled Crane Market is experiencing substantial growth, driven by the increasing demand for efficient material handling solutions across various industries. As of 2024, the global market is valued at approximately USD 17,311 million and is projected to grow at a compound annual growth rate (CAGR) of 5.5%, reaching around USD 26,566 million by 2032. This growth is driven by the rising need for versatile and mobile lifting equipment in sectors such as construction, logistics, and manufacturing.
Several key factors are fueling the market's expansion. The rapid pace of infrastructure development and urbanization in emerging economies is a significant driver, as construction projects require advanced lifting solutions to improve productivity. Additionally, the increasing emphasis on safety regulations and operational efficiency is encouraging companies to invest in modern crane technology. Innovations in wheeled cranes, such as enhanced maneuverability and greater load capacity, are also contributing to market growth by addressing the evolving needs of various industries.
Market Drivers
Urbanization and Construction Activity
Urbanization is one of the defining trends of the 21st century, with the United Nations projecting that nearly 68% of the world's population will reside in urban areas by 2050. This rapid urbanization is driving substantial construction activity and increasing the demand for efficient material handling equipment. Countries like China and India are seeing significant investments in residential and commercial projects. The Asian Development Bank (ADB) estimates that urban areas in Asia will require an additional $1.2 trillion in infrastructure investments annually by 2030. For example, India's National Infrastructure Pipeline plans to invest approximately $1.5 trillion in infrastructure projects by 2025, highlighting the urgent need for wheeled cranes to ensure timely project completion and enhance operational efficiency in rapidly growing urban centers.
Market Challenges Analysis
High Initial Investment Costs
A major challenge facing the Wheeled Crane Market is the high initial investment required for purchasing modern cranes, particularly electric and hybrid models. While these cranes offer long-term cost savings through reduced fuel consumption and lower maintenance costs, the upfront costs can be prohibitive for many construction companies, especially small and medium-sized enterprises. The International Monetary Fund (IMF) reports that capital-intensive industries such as construction often struggle to secure financing for large equipment purchases, which may hinder their ability to invest in advanced machinery. Moreover, the economic impact of the COVID-19 pandemic has led to tighter budgets and cautious spending among firms, making it even more difficult to justify investments in new equipment. As a result, many companies may opt to continue using older, less efficient models, delaying the transition to more sustainable and technologically advanced equipment.
Segmentation
By Product Type:
Rough Terrain Cranes
All-Terrain Cranes
Truck-Mounted Cranes
Crawler Cranes
Telehandler Cranes
By Technology:
Traditional Hydraulic Cranes
Electric Cranes
Smart Cranes
Hybrid Cranes
By End-User:
Construction
Logistics
Manufacturing
Oil and Gas
Mining
By Region:
North America
United States
Canada
Mexico
Europe
United Kingdom
Germany
France
Italy
Spain
Asia-Pacific
China
India
Japan
Australia
South Korea
Latin America
Brazil
Argentina
Chile
Middle East & Africa
South Africa
UAE
Saudi Arabia
Nigeria
Key Players
Tadano Ltd
Liebherr Group
Terex Corporation
Xuzhou Construction Machinery Group Co., Ltd
Sany Heavy Industry Co. Ltd
Zoomlion Heavy Industry Science and Technology Co.
Kobelco Construction Machinery Co., Ltd
Manitowoc Cranes
Link-Belt Cranes
Kato Works Co. Ltd
Palfinger AG
Manitex International
Sichuan Changjiang Electric Co. Ltd
Altec Inc.
Elliott Equipment Company
Böcker Maschinenwerke GmbH
The Wheeled Crane Market is experiencing substantial growth, driven by the increasing demand for efficient material handling solutions across various industries. As of 2024, the global market is valued at approximately USD 17,311 million and is projected to grow at a compound annual growth rate (CAGR) of 5.5%, reaching around USD 26,566 million by 2032. This growth is driven by the rising need for versatile and mobile lifting equipment in sectors such as construction, logistics, and manufacturing.
Several key factors are fueling the market's expansion. The rapid pace of infrastructure development and urbanization in emerging economies is a significant driver, as construction projects require advanced lifting solutions to improve productivity. Additionally, the increasing emphasis on safety regulations and operational efficiency is encouraging companies to invest in modern crane technology. Innovations in wheeled cranes, such as enhanced maneuverability and greater load capacity, are also contributing to market growth by addressing the evolving needs of various industries.
Market Drivers
Urbanization and Construction Activity
Urbanization is one of the defining trends of the 21st century, with the United Nations projecting that nearly 68% of the world's population will reside in urban areas by 2050. This rapid urbanization is driving substantial construction activity and increasing the demand for efficient material handling equipment. Countries like China and India are seeing significant investments in residential and commercial projects. The Asian Development Bank (ADB) estimates that urban areas in Asia will require an additional $1.2 trillion in infrastructure investments annually by 2030. For example, India's National Infrastructure Pipeline plans to invest approximately $1.5 trillion in infrastructure projects by 2025, highlighting the urgent need for wheeled cranes to ensure timely project completion and enhance operational efficiency in rapidly growing urban centers.
Market Challenges Analysis
High Initial Investment Costs
A major challenge facing the Wheeled Crane Market is the high initial investment required for purchasing modern cranes, particularly electric and hybrid models. While these cranes offer long-term cost savings through reduced fuel consumption and lower maintenance costs, the upfront costs can be prohibitive for many construction companies, especially small and medium-sized enterprises. The International Monetary Fund (IMF) reports that capital-intensive industries such as construction often struggle to secure financing for large equipment purchases, which may hinder their ability to invest in advanced machinery. Moreover, the economic impact of the COVID-19 pandemic has led to tighter budgets and cautious spending among firms, making it even more difficult to justify investments in new equipment. As a result, many companies may opt to continue using older, less efficient models, delaying the transition to more sustainable and technologically advanced equipment.
Segmentation
By Product Type:
Rough Terrain Cranes
All-Terrain Cranes
Truck-Mounted Cranes
Crawler Cranes
Telehandler Cranes
By Technology:
Traditional Hydraulic Cranes
Electric Cranes
Smart Cranes
Hybrid Cranes
By End-User:
Construction
Logistics
Manufacturing
Oil and Gas
Mining
By Region:
North America
United States
Canada
Mexico
Europe
United Kingdom
Germany
France
Italy
Spain
Asia-Pacific
China
India
Japan
Australia
South Korea
Latin America
Brazil
Argentina
Chile
Middle East & Africa
South Africa
UAE
Saudi Arabia
Nigeria
Key Players
Tadano Ltd
Liebherr Group
Terex Corporation
Xuzhou Construction Machinery Group Co., Ltd
Sany Heavy Industry Co. Ltd
Zoomlion Heavy Industry Science and Technology Co.
Kobelco Construction Machinery Co., Ltd
Manitowoc Cranes
Link-Belt Cranes
Kato Works Co. Ltd
Palfinger AG
Manitex International
Sichuan Changjiang Electric Co. Ltd
Altec Inc.
Elliott Equipment Company
Böcker Maschinenwerke GmbH
Table of Contents
190 Pages
- CHAPTER NO. 1 : INTRODUCTION
- 1.1.1. Report Description
- Purpose of the Report
- USP & Key Offerings
- 1.1.2. Key Benefits for Stakeholders
- 1.1.3. Target Audience
- 1.1.4. Report Scope
- CHAPTER NO. 2 : EXECUTIVE SUMMARY
- 2.1. [Turbine Drip Oil Market] Snapshot
- 2.1.1. [Turbine Drip Oil Market], 2018 - 2032 (USD Million)
- CHAPTER NO. 3 : [Turbine Drip Oil Market] – INDUSTRY ANALYSIS
- 3.1. Introduction
- 3.2. Market Drivers
- 3.3. Market Restraints
- 3.4. Market Opportunities
- 3.5. Porter’s Five Forces Analysis
- CHAPTER NO. 4 : ANALYSIS COMPETITIVE LANDSCAPE
- 4.1. Company Market Share Analysis – 2023
- 4.2. [Turbine Drip Oil Market] Company Revenue Market Share, 2023
- 4.3. Company Assessment Metrics, 2023
- 4.4. Start-ups /SMEs Assessment Metrics, 2023
- 4.5. Strategic Developments
- 4.6. Key Players Product Matrix
- CHAPTER NO. 5 : PESTEL & ADJACENT MARKET ANALYSIS
- CHAPTER NO. 6 : [Turbine Drip Oil Market] – BY [Based on Product Type:] ANALYSIS
- CHAPTER NO. 7 : [Turbine Drip Oil Market] – BY [Based on Technology:] ANALYSIS
- CHAPTER NO. 8 : [Turbine Drip Oil Market] – BY [Based on End-User:] ANALYSIS
- CHAPTER NO. 9 : [Turbine Drip Oil Market] – BY [Based on Region:] ANALYSIS
- CHAPTER NO. 10 : COMPANY PROFILES
- 10.1. Tadano Ltd
- 10.1.1. Company Overview
- 10.1.2. Product Portfolio
- 10.1.3. Swot Analysis
- 10.1.4. Business Strategy
- 10.1.5. Financial Overview
- 10.2. Liebherr Group
- 10.3. Terex Corporation
- 10.4. Xuzhou Construction Machinery Group Co., Ltd
- 10.5. Sany Heavy Industry Co. Ltd
- 10.6. Zoomlion Heavy Industry Science and Technology Co.
- 10.7. Kobelco Construction Machinery Co., Ltd
- 10.8. Manitowoc Cranes
- 10.9. Link-Belt Cranes
- 10.10. Kato Works Co. Ltd
- 10.11. Palfinger AG
- 10.12. Manitex International
- 10.13. Sichuan Changjiang Electric Co. Ltd
- 10.14. Altec Inc.
- 10.15. Elliott Equipment Company
- 10.16. Böcker Maschinenwerke GmbH
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