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The Mobile Crane Market Share was valued at USD 16.70 billion in 2022. It is projected to reach USD 24.48 billion by 2030, exhibiting a robust compound annual growth rate (CAGR) of 4.9% during the forecast period from 2023 to 2030.
The Mobile Crane market has witnessed significant growth in recent years, driven by various factors such as increasing construction activities, infrastructure development, and the expansion of the manufacturing sector. The demand for mobile cranes has surged due to their versatility, efficiency, and ability to handle heavy loads in diverse applications.
One of the key drivers propelling the market growth is the rapid urbanization and industrialization across the globe. As urban areas expand and industrial projects multiply, the need for mobile cranes to facilitate construction, maintenance, and material handling tasks becomes indispensable. Moreover, the growing investments in infrastructure projects, such as bridges, highways, and airports, further contribute to the market expansion.
Additionally, technological advancements have played a crucial role in enhancing the capabilities and efficiency of mobile cranes. The integration of advanced features like telematics, GPS tracking, and remote monitoring systems has revolutionized the industry, enabling operators to optimize crane performance, improve safety, and minimize downtime.
Furthermore, the market is witnessing a shift towards eco-friendly and energy-efficient mobile cranes. With increasing environmental concerns and stringent regulations, manufacturers are focusing on developing greener alternatives that reduce emissions and enhance sustainability. This trend is expected to drive the adoption of electric and hybrid mobile cranes in the coming years.
Geographically, the Asia-Pacific region dominates the Mobile Crane market, owing to rapid urbanization, infrastructural development, and the presence of emerging economies like China and India. These countries are witnessing substantial investments in construction and infrastructure projects, creating a favorable environment for market growth.
In conclusion, the Mobile Crane market is poised for significant expansion in the coming years, driven by factors such as urbanization, infrastructure development. Furthermore, the increasing focus on sustainable and eco-friendly construction practices is also expected to contribute to the growth of the electric and hybrid mobile crane market.
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KEY MARKET SEGMENTATION
On The Basis of Product Type
On The Basis of application
Key Players
The major key players are BAUER AG, The Manitowoc Company,Inc., Kobelco Construction Machinery Co., Ltd. (Kobe Steel, Ltd.), Liebherr-International AG, Manitex International, Inc., Palfinger AG, Sarens N.V. /S.A., Terex Corporation, Zoomlion Heavy Industry Science & Technology Co.Ltd., Xuzhou Construction Machinery Group Co., Ltd. and Other Players.
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