Press Release / Business / Several factors are impacting revenue growth of the mobile cranes market

Several factors are impacting revenue growth of the mobile cranes market

The global mobile cranes market is predicted to register a CAGR of 6.8 % over the next 10 years. A recent market analysis tabled by Future Market Insights titled “Mobile Cranes Market: Global Industry Analysis and Opportunity Assessment, 2016–2026” highlights some of the key aspects that will build a proper headway for the market during the forecast period. The global mobile cranes market growth is largely driven by increasing demand from utility companies, cargo handlers, and airport authorities.

There are a gamut of mobile cranes available in the market. The all-terrain, rough terrain, truck-mounted, and crawlers are some of the most popular products used by maximum consumers of this evolving global market. The boost in safety and security arena has changed the face of global mobile cranes market. New wave of investment in several private and public sector construction projects is playing the role of a catalyst in the global mobile cranes market growth. The massive industrialisation around the world is also increasing the need for smart and high capacity lifting machines. This is opening new corridors of development for the global mobile cranes market. Apart from manufacturing companies, rental companies are also finding their foothold and spreading their services in the fast expanding global mobile cranes market. In the next few years the rental sector might earn an edge in the global mobile cranes market. The high maintenance cost of machines is diverting customers to rental service providers, who are on a massive revamp mode. They are adapting local regulations to penetrate deeper into the market. The stringent regulations rolled out by government authorities in Europe and North America are expected to impact the future growth of the global mobile cranes market.

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Regional Analysis

According to the report drafted by Future Market Insights, India, Brazil, China, UAE and Africa will create new opportunities for the global mobile cranes market. Apart from this the market is steadily expanding in the MEA, Latin America, APEJ, and Europe regions. APEJ is the largest market for mobile cranes and it is estimated to hold more than 50% of the global market share. The APEJ, Eastern Europe, and Latin America markets will record significant CAGRs of more than 6% within the assessment period. The massive growth of the wind power industry and emerging real estate industry will be beneficial for the expansion of the global mobile cranes market.

Segmentation Analysis

All-terrain crane segment will dominate the future market behaviour of the global mobile cranes market. The report suggests that this segment will account for more than 25% of the market share of the global mobile cranes market. A large number of renewable energy projects spread across APEJ will hike the demand for advanced mobile cranes across this region and it will impact the overall growth of the construction industry segment. The construction industry segment is predicted to absorb more than 50% of the market revenue by the end of 2026.

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Vendor Insights

This Future Market Insights report on the global mobile cranes market profiles some of the top companies leading the market growth. Zoomlion Heavy Industry Science and Technology Co., Ltd, XCMG Construction Machinery Co, Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd, The Manitowoc Company, Inc., KATO WORKS CO.,LTD., Sany Heavy Industry Co., Ltd, Kobelco Construction Machinery Co., Ltd., The Liebherr Group, Terex Corporation, Tadano Ltd. are some of the lion shareholders of the global mobile cranes market. These companies are focussing on rapid expansion and business re-strategising to meet the surging market demand.