Global Mobile Crane Market Size & Share to 2027
Global Mobile Crane Market Size, Trends & Growth Opportunity, By Type (Wheel-Mounted Mobile Crane, Commercial Truck-Mounted Crane, Railroad Crane, and Others), By Application (Construction, Mining & Excavation, Marine & Offshore, Industrial Application, and Others), By Region and Forecast till 2027
Global Mobile Crane Market
Mobile cranes are powerful equipments which can lift weights of up to few hundred tons. Mobile cranes are used in various applications such as in building constructions, mining, automotive, aircraft, hydro projects, and manufacturing. Compactness and ease of accessibility in small construction are major advantages of mobile crane.
The rise in residential and commercial construction in developing countries is expected to drive the global mobile crane market growth. Furthermore, increase in support and initiatives to reduce carbon emission from vehicles and improve road safety are expected to further propel the global mobile crane market growth. Also, increase in work opportunities and ease of lifestyle in urban cities are attracting people from small villages to cities every year which is expected to rapid urbanization across the world. This is expected to increase in urban population which has created an unexpected deficit of residential houses in cities. Thus, governments and private contractors are investing high amounts on constructions like schools, buildings, and hospitals. This rise in demand for infrastructure will support the market growth during this forecast timeline.
Increase in investments in developing countries of APAC region expected to drive the global mobile crane market growth. Several developing countries in APAC region Coupled with rapidly increase in population and significant investment and funding by government of various countries for infrastructure development which is expected to boost the demand for mobile cranes market.
The limited weight-lifting capacity and low reach of mobile cranes are major restraints which are expected to hinder the global mobile crane market growth. In addition to that, increase in COVID- 19 pandemic across the world will affect the market growth. Due to COVID -19 major countries such as U.S, Italy, U.K, and other countries prolonged lockdowns which is expected to hamper the global mobile crane market growth over the forecast period.
Global Mobile Crane Market is segmented into type such as Wheel-Mounted Mobile Crane, Commercial Truck-Mounted Crane, Railroad Crane, and Others. Further, market is segmented into application such as Construction, Mining & Excavation, Marine & Offshore, Industrial Application, and Others.
Also, Global Mobile Crane Market is segmented five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Market key Players
Various key players are listed in this report such as Altec, Inc, SANY Global, Manitowoc Company, Inc, Tadano, Inc, Terex Corporation, Zoomlion Heavy Industry Science & Technology Co., Ltd, Kobelco Construction Machinery Co., Ltd, Liebherr-International AG, and Cargotec Corporation.
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