After low infrastructural developments over last couple of years, global construction industry is gaining traction and following the same trend, global mobile cranes market is expected to increase at an above average CAGR over the forecast period of 2016-2026.
Valley Cottage, NY -- (SBWIRE) -- 12/19/2016 -- A mobile crane is a transportable machine used to lift, lower or move heavy materials from one place to other with the help of cables and pulleys. Mobile cranes can be mounted on truck-type carrier or self-propelled structures. These cranes are mainly used in construction, transportation, loading or unloading of goods and in the manufacturing of heavy industrial products/ machines. The global mobile cranes market is majorly driven by the construction industry. Almost all types of mobile cranes such as truck cranes, rough terrain cranes, aerial crane, floating cranes, all terrain cranes, etc. are used in the construction industry. Floating cranes are generally used in waterway construction like ports, dams and bridges. Demand for mobile cranes is highly dependent on trends in global construction industry. The cyclical nature of construction industry affect the mobile cranes demand more or less in same manner in different regions of the world. After low infrastructural developments over last couple of years, global construction industry is gaining traction and following the same trend, global mobile cranes market is expected to increase at an above average CAGR over the forecast period of 2016-2026.
Global Mobile Cranes Market: Dynamics
New infrastructure development and restoration is the key factor affecting demand of mobile cranes worldwide. Mega trends such as globalization and migration of population towards urban areas is also expected to impact the demand for mobile cranes globally. Moreover, with many governments focusing on scattered development in order to distribute the population load from one specific region/ city, shift in geographical end-use location for mobile cranes is expected to become evident in various parts of the world. The demand is also expected to remain seasonal due to effects of climatic conditions on construction activities round the globe.
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Global Mobile Cranes Market: Segmentation
The global mobile cranes market is segmented on the basis of type, application, end use and region. On the basis of type, the global mobile crane market is divided into vehicle mounted crane, rough terrain crane, crawler crane, all terrain crane, railroad crane, floating crane and other cranes. On the basis of application, the global mobile cranes market is segmented into harbor, in-land, in-water and sky cranes. On the basis of end use, the global mobile cranes market is segmented into construction, automotive & transportation, shipping and industrial manufacturing.
Global Mobile Cranes Market: Regional Outlook
On the basis of regions, the global mobile cranes market is segmented into North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa (MEA), Asia Pacific excluding Japan (APEJ) and Japan. Mobile cranes market in APEJ is expected to increase at a significant CAGR over the forecast period due to increase in urban population and rise in housing, water and power infrastructure activities. Market is expected to remain very competitive in APEJ owing to presence of many local and international vendors in the region.
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Sales of mobile cranes is also expected to remain high in MEA owing to fast growing construction activities. Regional government's focus to reduce economic dependency on oil sector and shifting it to other sectors such as tourism, manufacturing, etc. is further expected to push demand for mobile cranes in the region.
Global Mobile Cranes Market: Key Players
Key players reported in this study of global mobile cranes market include Kobelco Construction Machinery Co., Ltd., The Liebherr Group, Tadano Ltd. and Terex Corporation.