From GlobeNewswire: 2024-11-22 07:19:00

The Mobile Crane Market Size was valued at USD 17.06 Billion in 2023, expected to reach USD 30.46 Billion by 2032 with a 6.66% CAGR. Rapid urbanization and infrastructure projects are driving demand, especially in Asia-Pacific. Truck-mounted cranes dominated in 2023, with the construction sector leading. Asia-Pacific leads, while North America shows the fastest growth.

Mobile cranes play a crucial role in heavy lifting and construction activities, offering mobility and versatility for various applications. The market’s growth is driven by increasing demand for cranes with superior mobility, flexibility, and lifting capacities. Technological advancements, such as telematics and automation, have enhanced crane performance and fueled demand across diverse industries.

The demand for mobile cranes is rising due to rapid urbanization and industrialization, offering flexibility and efficiency in managing multiple construction projects. Mobile cranes provide mobility and adaptability, reducing downtime and enhancing productivity in large-scale construction sites. The construction sector accounted for 53% of total revenue in 2023, driven by the increasing demand for residential and commercial infrastructure projects.

In 2023, Asia-Pacific held over 54% of the global mobile crane market share, driven by rapid urbanization and infrastructure development. North America is set to be the fastest-growing region due to investments in infrastructure refurbishment and renewable energy projects. Recent developments include new models with enhanced lifting capacities and electrified options.

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