Global Mobile Crane Market (2021 to 2026) - Growth, Trends, COVID-19 Impact and Forecasts - ResearchAndMarkets.com

DUBLIN--()--The "Mobile Crane Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.

The Mobile Crane Market was valued at USD 15.72 Billion in 2020 and is expected to reach USD 22.73 Billion by 2026, registering a CAGR of 6.34% during the forecast period.

Companies Mentioned

  • Konecranes PLC
  • Cargotec
  • Manitowoc
  • Terex Corporation
  • Tadano Limited
  • Kobelco Cranes Co. Limited
  • Palfinger AG
  • Liebherr-International AG
  • Zoomlion Heavy Industry Science and Technology Co. Limited
  • Favelle Favco Group
  • Sumitomo Heavy Industries Construction Cranes Co. Ltd

Key Market Trends

Increase in Construction and Renovation Activities

The projected increase in demand for construction equipment across the world is an important driving factor for the mobile cranes market. Various government initiatives and the exponential increase in the need for new and improved structures are increasing the market opportunities for the construction market.

The increased need for renewable energy sources like energy from windmills is also another region for great opportunities for the mobile crane market. The compact space advantage offered by the mobile cranes makes them easier to fit into cramped-up construction areas for operations. Rough terrain cranes with high torque and offroad navigating capabilities are in high demand in both the construction and mining industries due to the operational advantages and efficiency these cranes offer.

Europe is another important region for the construction machinery market and consequently, the mobile cranes market. Germany for instance, in 2020 has registered a market share of a huge 26% of construction equipment in Europe, followed by France at 13%. With immense construction activity at Germany, France and Europe as a whole in 2020, directly points towards a great market potential for the Mobile Crane market.

North America Leading the Mobile Crane Market

The crane market is expected to expand, backed by recovery in oil prices and growth in the residential and commercial construction projects in metropolitan cities. Low oil prices played the biggest role in influencing the dynamics of the crane market, especially on the mobile crane segment. The oil companies have scrambled to sell their underused cranes through auctions, leading to a glut in the crane market, consequently bringing down prices of cranes.

The construction sector of the United States is expected to experience solid growth, backed by strong economic fundamentals, such as low unemployment rate, government's focus on creating infrastructure, and the tightening of monetary policy, which is expected to result in strong capital inflows from the external markets.

However, the newly announced tariffs by the United States on aluminum and steel is expected to increase the costs of cranes significantly, and affect the production and sales of new cranes, pushing consumers to the rental market, for ensuring low operating costs.

The Canadian market is also expected to experience demand from the residential sector, as the country is rebuilding its infrastructure that was damaged by wild fires. The rise in prices of oil and the melting of ice caps in the Arctic is expected to open new trade routes, and lead to new exploration activities, which are expected to increase the demand for marine and offshore cranes.

Key Topics Covered:

1 INTRODUCTION

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET DYNAMICS

4.1 Market Driver

4.2 Market Restraint

4.3 Industry Attractiveness - Porter's Five Force Analysis

5 MARKET SEGMENTATION

5.1 By Machine Type

5.1.1 Mobile Crane

5.1.2 Fixed Crane

5.1.3 Marine & Port Cranes

5.2 By Application Type

5.2.1 Construction

5.2.2 Mining & Excavation

5.2.3 Marine & Offshore

5.2.4 Industrial Applications

5.2.5 Others

5.3 Geography

5.3.1 North America

5.3.1.1 United States

5.3.1.2 Canada

5.3.1.3 Rest of North America

5.3.2 Europe

5.3.2.1 Germany

5.3.2.2 United States

5.3.2.3 France

5.3.2.4 Rest of Europe

5.3.3 Asia-Pacific

5.3.3.1 China

5.3.3.2 Japan

5.3.3.3 India

5.3.3.4 South Korea

5.3.3.5 Rest of Asia-Pacific

5.3.4 Rest of the World

5.3.4.1 South America

5.3.4.2 Middle-East and Africa

6 COMPETITIVE LANDSCAPE

6.1 Vendor Market Share

6.2 Company Profiles

7 MARKET OPPORTUNITIES AND FUTURE TRENDS

For more information about this report visit https://www.researchandmarkets.com/r/tvfyn5

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Contacts

ResearchAndMarkets.com
Laura Wood, Senior Press Manager
press@researchandmarkets.com

For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900