Mobile Crane Market: Size, Share, Trends & Forecast (2024-2029) 

The market report offers a detailed analysis segmented by Product Type (Truck Mounted Crane, Trailer Mounted Crane, Crawler Crane); by Application (Construction, Industrial, Utility); by Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa).

Outlook 

• The mobile crane market is estimated to be at USD 19,385.01 Mn in 2024 and is anticipated to reach USD 27,342.56 Mn in 2029. 

• The mobile crane market is registering a CAGR of 7.12% during the forecast period of 2024-2029. 

• The global mobile crane market’s growth is driven by increased infrastructure development and urbanization across emerging economies. The market has witnessed significant technological advancements, particularly in the automation and integration of IoT (Internet of Things). These innovations enhance operational efficiency and safety, making mobile cranes more attractive to various industries. 

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Ecosystem 

• The participants in the global mobile crane industry are known for their strong product portfolios, extensive distribution networks, and focus on technological innovation. 

• These companies primarily focus on differentiating their products through technology and design, along with strategic partnerships and collaborations to expand their market reach and maintain their competitive edge in the market. 

• Several important entities in the mobile cranes market include Liebherr-International Deutschland GmbH; Terex Corp.; Sany Heavy Industry Co., Ltd.; Kobelco Construction Machinery Co., Ltd.; Konecranes Plc; and others. 

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Findings 

Attributes	Values
Historical Period	2018-2022
Base Year	2023
Forecast Period	2024-2029
Market Size (2024)	USD 19,385.01 Mn
Market Size (2029)	USD 27,342.56 Mn
Growth Rate	7.12% CAGR from 2024 to 2029
Key Segments	Product Type (Truck Mounted Crane, Trailer Mounted Crane, Crawler Crane); Application (Construction, Industrial, Utility); Geography (North America, South America, Asia Pacific, Europe, The Middle East, Africa)
Key Vendors	Liebherr-International Deutschland GmbH; Terex Corp.; Sany Heavy Industry Co., Ltd.; Kobelco Construction Machinery Co., Ltd.; Konecranes Plc
Key Countries	The US; Canada; Mexico; Brazil; Argentina; Colombia; Chile; China; India; Japan; South Korea; The UK; Germany; Italy; France; Spain; Turkey; UAE; Saudi Arabia; Egypt; South Africa
Largest Market	Asia Pacific

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Trends  

• Integration of Telemetry Systems: Mobile cranes are increasingly being equipped with telemetry systems that allow remote monitoring, as well as enhancing the efficiency of crane operations. In 2023, Liebherr introduced a new telemetry system that provides real-time data on crane performance, improving safety and operational efficiency. 

• Adoption of Eco-Friendly Technologies: There is a growing trend toward adopting eco-friendly technologies in mobile cranes, such as hybrid engines and electric models. In 2023, XCMG launched a hybrid mobile crane that reduces emissions, aligning with global sustainability goals. 

• Customization and Modular Design: The trend for customized and modular mobile crane designs has been increasing as industries seek versatile solutions to meet specific project requirements. Modular designs allow for easier assembly, transport, and reconfiguration, making cranes adaptable to various site conditions. 

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Catalysts 

• Increased Investment in Renewable Energy: The growing investment in renewable energy projects, such as wind farms, is boosting the demand for mobile cranes. In 2023, the European Union’s Green Deal led to several large-scale wind farm projects, increasing the need for heavy-lifting mobile cranes. 

• Rising Demand for Compact Cranes: The rising demand for compact and versatile cranes that can operate in confined spaces is a key market driver. In 2023, Kato Works launched a compact mobile crane designed for urban environments, where space is limited. 

• Government Initiatives and Policies: Government initiatives and policies aimed at boosting infrastructure development are positively impacting the mobile crane market. In 2023, the U.S. government passed a USD 1.2 trillion infrastructure bill, leading to increased demand for construction equipment, including mobile cranes. 

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Restraints 

• Environmental Regulations: Stricter environmental regulations are compelling manufacturers to develop eco-friendly cranes, which can increase production costs. In 2023, Terex had to invest in developing electric crane models to comply with new EU emissions standards, posing a challenge to maintaining profitability. 

• Technological Integration Difficulties: The integration of advanced technologies, such as automation and telematics, into existing mobile crane fleets can be a challenge for both manufacturers and operators. For example, in 2023, Manitowoc faced integration issues with AI-driven operational systems, which resulted in downtime and operational inefficiencies for their clients. 

• High Maintenance Costs: Mobile cranes require regular maintenance, which can be costly and time-consuming. In 2023, Tadano reported an increase in maintenance-related expenses, particularly for older models, which can be a financial burden for end-users. 

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Table of Contents 

1.       Introduction         1.1.    Research Methodology         1.2.    Scope of the Study  2.       Market Overview / Executive Summary         2.1.    Global Mobile Crane Market (2018 – 2022)         2.2.    Global Mobile Crane Market (2023 – 2029)  3.       Market Segmentation         3.1.    Global Mobile Crane Market by Product Type                3.1.1.    Truck Mounted Crane                3.1.2.    Trailer Mounted Crane                3.1.3.    Crawler Crane         3.2.    Global Mobile Crane Market by Application                3.2.1.    Construction                3.2.2.    Industrial                3.2.3.    Utility  4.       Regional Segmentation         4.1.    North America                4.1.1.    The US                4.1.2.    Canada                4.1.3.    Mexico         4.2.    South America                4.2.1.    Brazil                4.2.2.    Argentina                4.2.3.    Colombia                4.2.4.    Chile                4.2.5.    Rest of South America         4.3.    Asia Pacific                4.3.1.    China                4.3.2.    India                4.3.3.    Japan                4.3.4.    South Korea                4.3.5.    Rest of Asia Pacific         4.4.    Europe                4.4.1.    The UK                 4.4.2.    Germany                4.4.3.    Italy                4.4.4.    France                4.4.5.    Spain                4.4.6.    Rest of Europe         4.5.    The Middle East                4.5.1.    Turkey                4.5.2.    UAE                4.5.3.    Saudi Arabia                4.5.4.    Rest of the Middle East         4.6.    Africa                4.6.1.    Egypt                4.6.2.    South Africa                4.6.3.    Rest of Africa  5.       Value Chain Analysis of the Global Mobile Crane Market  6.       Porter Five Forces Analysis         6.1.    Threats of New Entrants         6.2.    Threats of Substitutes         6.3.    Bargaining Power of Buyers         6.4.    Bargaining Power of Suppliers         6.5.    Competition in the Industry  7.       Trends, Drivers and Challenges Analysis         7.1.    Market Trends         7.1.1.    Market Trend 1         7.1.2.    Market Trend 2         7.1.3.    Market Trend 3         7.2.    Market Drivers         7.2.1.    Market Driver 1         7.2.2.    Market Driver 2         7.2.3.    Market Driver 3         7.3.    Market Challenges         7.3.1.    Market Challenge 1         7.3.2.    Market Challenge 2         7.3.3.    Market Challenge 3  8.       Opportunities Analysis         8.1.    Market Opportunity 1         8.2.    Market Opportunity 2         8.3.    Market Opportunity 3  9.       Competitive Landscape         9.1.    Liebherr-International Deutschland GmbH         9.2.    Terex Corp.         9.3.    Sany Heavy Industry Co., Ltd.         9.4.    Kobelco Construction Machinery Co., Ltd.         9.5.    Konecranes Plc         9.6.    Company 6         9.7.    Company 7         9.8.    Company 8         9.9.    Company 9         9.10.  Company 10

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Mobile Crane Market – FAQs 

1.  What is the current size of the mobile crane market? 

Ans. In 2024, the mobile crane market size is USD 19,385.01 Mn. 

2.  Who are the major vendors in the mobile crane market?  

Ans. The major vendors in the mobile crane market are Liebherr-International Deutschland GmbH; Terex Corp.; Sany Heavy Industry Co., Ltd.; Kobelco Construction Machinery Co., Ltd.; Konecranes Plc. 

3.  Which segments are covered under the mobile crane market segments analysis?  

Ans. The mobile crane market report offers in-depth insights into Product Type, Application, and Geography.