Global Mobile Crane Market size was valued at USD 9.56 billion in 2021 and is poised to grow from USD 10.12 billion in 2022 to USD 15.02 billion by 2030, growing at a CAGR of 5.8% in the forecast period (2023-2030).

The increase in infrastructure investments and revenue growth in the mining sector globally is expected to drive demand for mobile cranes during the forecast period. Furthermore, the increased preference of construction and heavy equipment companies for rental or lease services, as well as a preference for used equipment for their operations, is bound to stymie new equipment-producing OEMs. Due to increased urbanization and export/import facilities, this market is seeing increased investment in the construction, power utilities, and shipbuilding sectors. Moreover, the introduction of industrial IoT, SCADA, AI, and machine learning technologies is increasing market opportunities for key players. These emerging technologies provide simple to use services with appropriate navigation and decision-making abilities.

Mobile Crane Market Analysis by Type

The truck crane market is expected to grow at an exponential rate due to increased demand for mobile machinery in construction, power utility, and many other industries. Truck cranes are equipped with fixed telescopic booms that extend over the truck and provide a variety of engineering and construction services. Moreover, the all-terrain crane and rough terrain crane segments are exhibiting progressive growth as a result of increased demand for construction machinery in rough terrain construction projects. These cranes are mainly used in the heavy engineering and construction, shipbuilding, and power and energy utility industries.

Mobile Crane Market Analysis by Application

Construction applications are expected to grow at a faster rate as a result of increasing urbanization, which will create a huge demand for infrastructure, contributing to the growth of the mobile crane market. The governments of the majority of developing countries have consistently emphasized the importance of addressing the nation's infrastructure deficit in order to improve quality of life and strengthen economic competitiveness, thereby increasing market potential. Moreover, the application of oil and gas is expected to grow gradually due to advancements in machinery and their applications, which are further attributed to advanced technological implementations. As a result, the refineries can operate more easily and efficiently. Shipbuilding applications are expected to grow moderately due to ongoing port construction projects, resulting in moderate usage and demand globally.

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