Mobile Cranes Market Anticipated 6.3% CAGR by 2033

Posted on 2024-05-02 by Future Market Insights in Industrial // 0 Comments

Mobile cranes are versatile lifting machines equipped with a telescopic boom or a lattice boom mounted on a mobile platform, such as a truck or crawler chassis. These cranes are widely used in various industries, including construction, transportation, manufacturing, and infrastructure development, to lift and move heavy materials and equipment.

The mobile cranes market is expected to develop at a modest CAGR of 6.3% between 2023 and 2033. The market is expected to be valued at about US$ 29.05 billion by 2033, up from US$ 15.77 billion in 2023.

The mobile cranes industry presents several promising opportunities for manufacturers, service providers, and equipment rental companies. One notable opportunity lies in the increasing demand for eco-friendly, energy-efficient mobile cranes. As sustainability becomes a priority in the construction and logistics sectors, there is a growing need for greener solutions that reduce emissions and enhance operational efficiency. Moreover, the rapid expansion of infrastructure projects, particularly in emerging economies, offers significant growth prospects for mobile crane providers to cater to the construction needs of roads, bridges, buildings, and other critical infrastructure.

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Key Components of Mobile Cranes:

Boom: The boom is the primary structural component of the crane responsible for lifting and lowering loads. It can be telescopic or lattice-type, allowing for different reach and lifting capacities.
Counterweight: Counterweights are installed on the rear of the crane to provide stability and balance when lifting heavy loads. They help prevent the crane from tipping over during lifting operations.
Carrier: The carrier is the mobile platform that supports the crane’s superstructure and houses the engine, controls, and other essential components. It can be a truck chassis or a crawler track assembly, providing mobility and maneuverability on various terrains.
Outriggers: Outriggers are extendable legs mounted on the carrier to enhance the crane’s stability by creating a wider base of support during lifting operations. They are deployed to prevent tipping and ensure safe lifting.
Operator’s Cab: The operator’s cab is where the crane operator controls the crane’s functions, including lifting, lowering, swinging, and extending the boom. It is equipped with controls, instruments, and safety features to facilitate efficient and safe operation.
Hoist and Winch: The hoist and winch systems are responsible for raising and lowering the load attached to the crane’s hook. They consist of electric or hydraulic motors, drums, cables, and sheaves, providing precise control over lifting operations.

What are Key Players Doing to Thrive in the Mobile Cranes Market?

The mobile cranes industry’s competitive landscape is characterized by several key players striving to capture market share and deliver innovative and reliable lifting solutions. These key players compete based on product range, technological innovation, performance, safety features, customer service, and global presence. They strive to deliver reliable and efficient mobile cranes that meet the diverse needs of industries such as construction, infrastructure, oil and gas, and logistics.

Liebherr Group: Liebherr is a renowned manufacturer of mobile cranes, offering a wide range of models with varying lifting capacities. The company’s focus on technological advancements, safety features, and versatility has positioned it as a leading player in the industry.
Terex Corporation: Terex is a global manufacturer of mobile cranes known for its diverse product portfolio, including all-terrain cranes, rough-terrain cranes, and truck-mounted cranes. The company’s emphasis on performance, durability, and customer satisfaction has contributed to its competitive position.
Tadano Ltd.: Tadano is a prominent player in the mobile crane market, specializing in manufacturing hydraulic cranes. The company’s expertise lies in delivering high-quality cranes that combine strength, reliability, and advanced features to meet the diverse needs of customers.
Manitowoc Cranes: Manitowoc is a leading manufacturer of crawlers, tower, and mobile telescopic cranes. The company’s commitment to innovation, technological excellence, and customer-centric solutions has established its presence in the competitive mobile cranes market.
Sany Group: Sany Group is a prominent mobile crane industry player, offering a wide range of lifting solutions. The company’s commitment to quality, safety, and customer satisfaction has earned it a reputable position in the market.

Key Players of the Global Mobile Cranes Market

KATO WORKS CO., LTD.
Kobelco Construction Machinery Co., Ltd.
Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
The Manitowoc Company, Inc.

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