Mobile Crane Market
Mobile Crane Market
The market for Mobile Crane was estimated at $15.50 billion in 2024; it is anticipated to increase to $25.0 billion by 2030, with projections indicating growth to around $37.3 billion by 2035.
Report Summary
Table of Contents
Methodology
Market Data
Global Mobile Crane Market Outlook
Revenue, 2024 (US$B)
$15.5B
Forecast, 2034 (US$B)
$34.4B
CAGR, 2024 - 2034
8.3%
The Mobile Crane industry revenue is expected to be around $16.8 billion in 2025 and expected to showcase growth with 8.3% CAGR between 2025 and 2034. </p><p>In the industry today mobile cranes are highly valued for their adaptability effectiveness and their small size that allows for lifting capabilities even in confined spaces. Being a player in the fields of construction mining and shipping they are in high demand due, to a range of models designed specifically to meet a variety of operational needs.</p>
Market Key Insights
- The Mobile Crane market is projected to grow from $15.5 billion in 2024 to $34.4 billion in 2034. This represents a CAGR of 8.3%, reflecting rising demand across Construction Operations, Shipping and Port Management and Energy Sector Utilization.
- The market leaders in this industry include Liebherr Group, The Manitowoc Company Inc and Terex Corporation which determine the competitive dynamics of this market.
- U.S. and China are the top markets within the Mobile Crane market and are expected to observe the growth CAGR of 6.1% to 8.7% between 2024 and 2030.
- Emerging markets including Indonesia, Vietnam and Nigeria are expected to observe highest growth with CAGR ranging between 8.0% to 10.4%.
- The Mobile Crane market will experience $2.7 billion in additional growth through 2030 because of the transition toward green technology.
- The Mobile Crane market is set to add $18.9 billion between 2024 and 2034, with manufacturer targeting Industries & Utilities Application projected to gain a larger market share.
- With Rising construction activities, and Technological advancements, Mobile Crane market to expand 122% between 2024 and 2034.
Opportunities in the Mobile Crane
The shift to renewable energy on a scale is driving an increased demand for mobile cranes to support various industries such, as wind turbine installation that rely on heavy duty equipment for their operations.
Growth Opportunities in North America and Europe
North America Outlook
<p>In North America's mobile crane sector is experiencing growth thanks to the rise in construction and infrastructure projects in the region. The market competition is fierce with industry players such, as Liebherr and Manitowoc established in the field. There are promising chances ahead fueled by progress and favorable regulatory conditions.</p>
Europe Outlook
<p>In contrast and over in Europe's neck of the woods theres a need for mobile cranes coming mainly from the renewable energy field. Particularly for wind farms that require heavy duty lifting gear to get the job done right! With players like Terex and Tadano already in the game theres some serious competition going on in the market scenario there too! Also worth noting is that revamping infrastructure is bringing in some pretty sweet opportunities to the table, in Europe as well.</p>
Market Dynamics and Supply Chain
01
Driver: Rising Construction Activities, and Stringent Safety Regulations
The rise in urbanization worldwide and the boost, in infrastructure investments are also fuelin the need for cranes to construct buildins and bridges and other big structures – pushin the market ahead. Governments are also introducing rules to guarantee the safety of workers at construction sites by requiring the utilization of sophisticated equipment such as mobile cranes. This increased regulatory focus is also one of the drivers, behind the thriving market conditions.<br>Cutting edge innovations such as GPS and LIDAR, alongside automation are also being integrated into cranes to boost effectiveness and safety measures – a trend that is also propelling the markets expansion.
02
Restraint: High Maintenance Costs
The maintenance costs for cranes are expensive due to their intricate operations and large size which poses a challenge for market expansion by inflating the overall ownership and operational expenses of these cranes significantly. Deterring interest, from potential customers like small and medium sized businesses.
03
Opportunity: Rise of Smart Cranes and Growth in Infrastructure Development Projects
The swift progress of technology is leading to the emergence and acceptance of Smart Cranes. These machines are equipped with sensors and sophisticated software that offer real time data to enhance efficiency and safety at construction sites—an avenue for mobile crane producers to capitalize upon with promising prospects, for expansion and creativity.<br>Governments around the world are investing in infrastructure projects to boost growth which has led to an increased need for mobile cranes in various development initiatives such, as road construction and urban expansion offering lucrative opportunities for crane manufacturers to expand their presence in the market.
04
Challenge: Stringent Regulations and Safety Concerns
Mobile cranes must adhere to rules concerning how they are used and their safety and emissions levels at both national and global levels—a situation that presents various hurdles for manufacturers and operators to navigate through effectively. Failing to comply with these regulations can lead to fines and reputational damage—serving as a significant obstacle, to expanding their market reach.
Supply Chain Landscape
1
Raw Material Procurement
ArcelorMittal
Tata Steel
2
Component Manufacturing
Caterpillar Inc.
Hyundai Heavy Industries
3
Assembly & Testing
Liebherr-International AG
Tadano Ltd
4
End User Applications
Construction Industry
Ports and Harbor Operations
Mining and Excavation
1
Raw Material Procurement
ArcelorMittal
Tata Steel
2
Component Manufacturing
Caterpillar Inc.
Hyundai Heavy Industries
3
Assembly & Testing
Liebherr-International AG
Tadano Ltd
4
End User Applications
Construction Industry
Ports and Harbor Operations
Mining and Excavation
*The illustration highlights the key stakeholders within the supply chain ecosystem.
Applications of Mobile Crane in Construction Operations, Shipping & Port Management & Energy Sector Utilization
Construction Operations
<p>Mobile cranes are commonly utilized in the construction industry for lifting and moving materials with ease due to their maneuverability in confined region's and diverse landscapes which sets them apart from other equipment manufacturers such as Liebherr and Tadano who are committed, to advancing crane technology through extensive research and development efforts aimed at enhancing operational effectiveness and ensuring safety standards are met consistently.</p>
Shipping and Port Management
<p>In the realm of shipping operations mobile cranes play a role in efficiently transferring heavy cargo to and fro ships at ports. Their ability to handle loads and navigate with ease aids in streamlining port activities. Key players like Manitowoc and Konecranes offer tailored mobile crane solutions, for specialized tasks.</p>
Energy Sector Utilization
<p>Mobile cranes play a role in power plants and other industrial settings like oil rigs and wind farms due to their capability to erect and take down large structures such as wind turbines. A skill that is both exceptional and highly valuable in these environments. Major companies such as Terex and XCMG are, at the forefront of introducing strategies tailored to meet the distinct requirements of the energy industry.</p>
Recent Developments
December 2024
<p>Terex Corporation launched a Mobile Crane model that is energy efficient and tailored for optimal performance at construction sites, in urban areas.</p>
October 2024
<p>Liebherr Group has strengthened its market position, in Asia by introducing a range of mobile cranes embedded with advanced technology to boost operational efficiency.</p>
September 2024
<p>Tadano Ltd has established a standard, in the industry by launching the inaugural fully automated Mobile Crane. This innovation minimizes involvement and enhances safety protocols significantly.</p>
In market updates regarding mobile cranes trends show a significant increase, in demand attributed mainly to the thriving construction sector. Major industry players are currently emphasizing the incorporation of advanced technology features to meet the expanding needs of customers. A prominent trend emerging in this space is the adoption of Telematics. A monitoring method that utilizes GPS and onboard diagnostics to track movements and performance of cranes.
Impact of Industry Transitions on the Mobile Crane Market
As a core segment of the Lifting Equipment industry,
the Mobile Crane market develops in line with broader industry shifts.
Over recent years, transitions such as Shift towards Greener Technology and Automation and Advanced Control Systems have redefined priorities
across the Lifting Equipment sector,
influencing how the Mobile Crane market evolves in terms of demand, applications and competitive dynamics.
These transitions highlight the structural changes shaping long-term growth opportunities.
01
Shift towards Greener Technology
The Mobile Crane sector is undergoing a shift towards eco friendly technologies due to strict emission regulations and growing environmental consciousness The rise of hybrid and electric cranes serves as a visible indicator of this transformation, by enabling reduced greenhouse gas emissions and enhanced energy efficiency.
02
Automation and Advanced Control Systems
There has been a shift in this industry towards increased reliance on automation and sophisticated control systems lately. Cranes with controls and GPS tracking systems are becoming more prevalent because of their precision, safety features and effectiveness. The Internet of Things (IoT) is also making an impact by offering, in depth data analysis and remote monitoring capabilities that enhance operational efficiency. This transformation greatly helps in predicting maintenance requirements and preventing unforeseen equipment downtimes.