Global Mobile Crane Market 2017-2021
About Mobile Crane
A mobile crane is a lifting device, which incorporates a cable-controlled crane mounted on rubber-tired carriers or crawlers or a hydraulic-powered crane with a telescoping boom. It is designed for easy transportation between the various operating locations by road. It is designed to be used with different types of loads and cargo, with little or no setup or assembly. Mobile cranes are used widely in the engineering, construction, and infrastructure industries. These machines are used for loading, unloading, moving, shifting, and erecting materials. Mobile cranes lift, shift, and place loads, weighing five tons to more than 100 tons, from one point to another. Mobile cranes are available in various sizes and can be used in projects of all sizes because of the flexibility in application and low costs. The efficiency of mobile cranes lies in the amount of load they can carry and transfer.
Technavio’s analysts forecast the global mobile crane market to grow at a CAGR of 3.89% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global mobile crane market for 2017-2021. To calculate the market size, the report discusses the major drivers influencing market growth and the challenges faced by the vendors and the overall market.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Mobile Crane Market 2017-2021
Technavio recognizes the following companies as the key players in the global mobile crane market: Liebherr Group, Manitowoc, XCMG, Tadano, and Terex.
Other Prominent Vendors in the market are: Action Construction Equipment, Altec Industries, BAUER Aktiengesellschaft, Böcker Maschinenwerke, Broderson Manufacturing, Elliott Equipment, Escorts Group, FURUKAWA UNIC, Hitachi Construction Machinery, J C Bamford Excavators, KATO HEAVY INDUSTRIES CONSTRUCTION MACHINERY, Komatsu, Konecranes, Link-Belt, Liugong Machinery, LOCATELLI CRANE, Manitex, Marchetti Autogru, SANY GROUP, SENNEBOGEN, and Hitachi Sumitomo Heavy Industries Construction Crane.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is rising use of telematics. Telematics is being increasingly adopted in various types of machines. This global positioning system (GPS)-based technology offers many benefits to equipment owners and fleet managers. Only big players have implemented this technology until recently. However, with the advances in the technology, rental companies of all sizes have begun using it. While cost plays a big role in any organization, the advantages of telematics such as increased operational efficiency and profitability are pushing firms to adopt this technology. The data from telematics help operators to perform a detailed analysis of the operation of the equipment, its location, fault codes, and many other features, all of which can yield higher profits for the company. Most manufacturers are developing telematics solutions that provide GPS, engine usage data, access to their electronic engines, and diagnostic fault codes. Telematics has various uses, which can be customized as per the users' needs. For instance, the ability to track idle time of engines and fuel consumption for an entire fleet, which includes machines from different manufacturers, helps in saving cost significantly for end-users.”
According to the report, one driver in market is increased infrastructure-based development. The increased construction spending globally is mainly due to the demographic changes, which are likely to fluctuate across countries, influencing both the amount and type of infrastructure spending. Growing older populations in Western Europe and Japan, for example, are expected to require more medical service facilities, while nations in Sub-Saharan Africa, the Middle East, and numerous parts of APAC are anticipated to require more schools and better transportation facilities to support the increasing number of younger people. Infrastructure development has a direct impact on the demand for mobile cranes. The need for better infrastructure leads to a high demand for mobile cranes, as they are used in a wide range of construction activities, especially in the infrastructure sector.
Further, the report states that one challenges in market is stringent emission norms. The mobile crane industry produces large amounts of GHGs and other air pollutants. Real-time measuring and monitoring of these emissions will enable manufacturers to assess the impact of this equipment on the environment, and aid in improving the sustainability of construction. Emission measurement systems like portable emission measurement systems (PEMS) for real-time measurement of CO₂, nitrogen oxides, hydrocarbon, and carbon monoxide emissions from construction equipment help to derive the emission rates and emission factors in operating conditions. With the implementation of the Tier 4 Pollution norms for heavy industries, companies are finding it difficult to sell their old machines, which do not comply with the new norms. These stringent regulations also increase the cost of new equipment. In addition, with the advent of Tier 5 regulations, which are expected to be rolled out by 2020, the cost of compliance is expected to increase as Tier 5 engines must have diesel particulate filters (DPF) installed to reduce the soot from the emissions.
Liebherr Group, Manitowoc, XCMG, Tadano, Terex, Action Construction Equipment, Altec Industries, BAUER Aktiengesellschaft, Böcker Maschinenwerke, Broderson Manufacturing, Elliott Equipment, Escorts Group, FURUKAWA UNIC, Hitachi Construction Machinery, J C Bamford Excavators, KATO HEAVY INDUSTRIES CONSTRUCTION MACHINERY, Komatsu, Konecranes, Link-Belt, Liugong Machinery, LOCATELLI CRANE, Manitex, Marchetti Autogru, SANY GROUP, SENNEBOGEN, and Hitachi Sumitomo Heavy Industries Construction Crane.