Mobile Crane Market to Garner $17.95 Bn, Globally, by 2027 at 6.0% CAGR, Says Allied Market Research

PORTLAND, Ore., Nov. 10, 2020 /PRNewswire/ -- Allied Market Research recently published a report, titled, "Mobile Crane Market by Boom-Type (Lattice Boom and Telescopic Boom), Carrier Type (Wheel Mounted and Track Mounted), Terrain Type (On-road, Rough Terrain, and All-Terrain), End-User Industry (Residential and Commercial Buildings, Infrastructure, Manufacturing, and Utilities), and Business Type (Original Equipment Manufacturer (OEM) and Aftermarket): Global Opportunity Analysis and Industry Forecast, 2020–2027". According to the report, the global mobile crane industry was pegged at $14.06 billion in 2019, and is expected to reach $17.95 billion by 2027, growing at a CAGR of 6.0% from 2020 to 2027.

Drivers, restraints, and opportunities

Easy accessibility and mobility offered by this type of cranes, increase in emphasis on the aftermarket and service industry, and focus toward public-private partnerships (PPPs) for infrastructure drive the growth of the global mobile crane market. However, weight limitations and less reach than static cranes hamper the market. On the contrary, automation in mobile cranes is expected to create lucrative opportunities for market players in the future.

Covid-19 scenario:

• The demand for mobile cranes has been reduced significantly due to halt in international trade, prolonged lockdowns, and stoppage of manufacturing processes. Moreover, production activities and sales of various parts of mobile cranes have been stopped.
• Small & medium companies are reluctant to make major investments in automated technologies during such uncertain times.

Download Report Sample (273  Pages PDF with Insights) @ https://www.alliedmarketresearch.com/request-sample/3294

The lattice boom segment to portray the highest CAGR through 2027

By boom type, the lattice boom segment is expected to register the highest CAGR of 6.8% from 2020 to 2027, owing to the demand for high weight lifting capacities, especially for manufacturing and infrastructure applications. However, the telescopic boom segment held the largest share in 2019, accounting for more than two-thirds of the global mobile crane market. This is due to ease in transportation and compact size of telescopic boom cranes.

The manufacturing segment held the largest share

By end-user industry, the manufacturing segment dominated the market in 2019, contributing to nearly one-third of the global mobile crane market, due to high demand for heavy weight lifting applications form manufacturing industry. However, the residential and commercial buildings segment is expected to register the highest CAGR of 6.8% during the forecast period, owing to increase in investment for construction mainly in developing countries.

Get detailed COVID-19 impact analysis on the Mobile Crane Market: https://www.alliedmarketresearch.com/request-for-customization/3294?reqfor=covid

LAMEA, followed by North America, to manifest the highest CAGR through 2027

By region, the market across LAMEA, followed by North America, is estimated to portray the highest CAGR of 11.5% from 2020 to 2027, due to development in living standard and growing investment in manufacturing sector. However, the global mobile crane market across Asia-Pacific held the largest share in 2019, contributing to more than four-fifths of the market, owing to large number of manufacturers of mobile cranes and high demand for infrastructural growth.

Major market players

• Altec, Inc.
• Liebherr-International AG
• Cargotec Corporation
• SANY Global
• Manitowoc Company, Inc.
• Terex Corporation
• Tadano, Inc.
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• XCMG
• Kobelco Construction Machinery Co., Ltd.

Interested in Procure Data? Visit Here: https://www.alliedmarketresearch.com/mobile-crane-market/purchase-options

Access AVENUE- A Subscription-Based Library (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/library-access

Avenue is a user-based library of global market report database, provides comprehensive reports pertaining to the world's largest emerging markets. It further offers e-access to all the available industry reports just in a jiffy. By offering core business insights on the varied industries, economies, and end users worldwide, Avenue ensures that the registered members get an easy as well as single gateway to their all-inclusive requirements.

Avenue Library Subscription | Request for 14 days free trial of before buying:

https://www.alliedmarketresearch.com/avenue/trial/starter

Similar Reports We Have: 

Construction Equipment Market: Global construction equipment market size is expected to reach $261,047 million in 2027, growing at a CAGR of 4.3% from 2020 to 2027.

Compact Construction Equipment Market: Global Compact Construction Equipment Market is projected to reach $9,438 million in 2023, growing at a CAGR of 6.2% from 2017 to 2023.

Overhead Cranes Market: Global overhead cranes market size is expected to reach $5,767.5 million by 2025, growing at a CAGR of 3.6% from 2018 to 2025.

Construction Equipment Rental Market: Global construction equipment rental market size is expected to reach $106,422.0 million by 2027, registering a CAGR of 4.2% from 2020 to 2027.

Demolition Robot Market: Global demolition robot market is projected to reach $633,199.3 thousand by 2027, growing at a CAGR of 16.2% from 2020 to 2027.

Pre-Book Now with 12% Discount:

Global Truck Mounted Crane Market - Global Opportunity Analysis and Industry Forecast, 2020-2027

Cone Crusher Market - Global Opportunity Analysis and Industry Forecast, 2020-2027

About Us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains. AMR offers its services across 11 industry verticals including Life Sciences, Consumer Goods, Materials & Chemicals, Construction & Manufacturing, Food & Beverages, Energy & Power, Semiconductor & Electronics, Automotive & Transportation, ICT & Media, Aerospace & Defense, and BFSI.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
[email protected] 
Web: https://www.alliedmarketresearch.com 
Follow us on: LinkedIn Twitter

SOURCE Allied Market Research