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(Construction.IndustryNews247.Com, January 17, 2019 ) The global mobile crane market is expected to grow from US$ US$ 8.28 Bn in 2017 to US$ 9.83 Bn by 2025 at a CAGR of 2.16% between 2017 and 2025.
The constantly growing population has resulted in increased investments in the infrastructure and construction sector of various economies. Also, government initiatives for up gradation of existing infrastructure of the developed economies has resulted in increased demand for heavy construction machinery. Mobile cranes are extensively used in various applications including construction, oil & gas, shipping, etc. Furthermore, increased investments in the construction of power plants has also influenced the market growth particularly, in developing nations.
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Various segments of the market such as type/components/ application/industry verticals/ end-users are analyzed with robust research methodology which includes three step process starting with extensive secondary research to gather data from company profiles, global/regional associations, trade journals, technical white papers, paid databases etc. followed by primary research (interviews) with industry experts/KOLs to gain their insights and views on current scenarios and future scope of the market as well as validating the secondary information, further internal statistical model is used to estimate the market size and forecasts till 2025.
APAC with large number of emerging countries along with high rate of industrializing and growing urbanization is leading the mobile crane market. Europe market stood at the second largest market for mobile cranes owing to increasing investments in renewable energy application. Also, mobile crane rental market in Europe contributes a large market share. However, market in North America and Middle East is saturated from past few years owing to declining oil & gas industry.
In our study, we have segmented the Mobile Crane market by crane type and applications. The Crane Type segment of mobile crane market includes crane type, which includes truck cranes, all-terrain cranes, rough terrain cranes, crawler cranes and others. Furthermore, the application segment of the mobile crane market is segmented into construction, oil & gas, shipping & port building, power & utilities and others. On the basis of geography, the Mobile Crane market is analyzed into North America, Europe, Asia- Pacific (APAC), Middle East & Africa (MEA) and South America (SAM).
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Adoptions of mobile cranes is also expected to accelerate owing to, expansion in the cement plants and increased business potential of ship building/repair. Moreover, rising competition in the market is expected to further drive the crane rental rates resulting in overall growth of mobile crane revenue share. The general construction and transportation sectors on the other side are back into the force with a large number of projects coming in their way, which is expected to have a progressive impact on the mobile crane industry. Majorly developing economies contribute to this difference, where construction and retrofit market both are growing at significantly higher pace, also the developed economies are anticipated to demand up gradation of mobile cranes in the coming years.
The Insight Partners
Sameer Joshi
+1-646-491-9876
sam@theinsightpartners.com
Source: EmailWire.Com 
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