The global mobile cranes market attained a value of USD 18.83 Billion in 2024 . The market is further expected to grow in the forecast period of 2025-2034 at a CAGR of 6.50% to reach USD 35.35 Billion by 2034 .
Other countries allocate smaller percentages of their GDP to infrastructure. For infrastructure spending, South Korea and Switzerland are of approximately similar size, at about 1.3% of GDP, although with a very different set of sectoral priorities. Spending on rail in South Korea amounts to USD 7.42 billion, while in Switzerland it amounts to USD 4.33 billion and USD 5.56 billion on roads. Japan, which is spending 1.1% of GDP on infrastructure, has massive investments in rail and road networks - USD 20.13 billion and USD 38.83 billion respectively, a sure sign that an efficient transport system is crucial to densely populated and urbanised areas.
In Europe, the percentages of expenditure on infrastructure are typically less than 1% of GDP. Both Russia and Turkey are spending 0.95% and 0.93% of their respective GDPs on infrastructure development in rail - USD 6.27 billion and USD 2.58 billion - and roads, proof that they are striving to upgrade transportation. The United Kingdom, France, and Italy have a balanced approach with apparent spending in the rail and road sectors. Germany spent 0.77% of GDP: it is investing USD 19.46 billion in roads and USD 11.92 billion in rail, which underlines the fact that it needs to maintain and extend transport infrastructure in a main economic hub, propelling the mobile cranes demand growth.
Of the North American countries, Canada and the United States invested lower percentages of GDP. For example, whereas the United States only had 0.51% of its GDP spent on this sector, when considering spending values for roadways (USD 108.55 billion) and air (USD 10.23 billion), the extraordinary cost of funding a far-reaching infrastructure, in addition to the wide-ranging maintenance requirements that accompany such, becomes clear. In the context of Canada, this is much more evenly split between inland, air, rail, and road expenditures, with USD 1.39 billion being spent inland and USD 8.92 billion being spent on roadways. New Zealand and Spain commit less than 0.6% of GDP, spread into the many different sectors in order to reinforce their transport network.
Other key players in the Mobile Cranes Market are Sany Heavy Industry Co., Ltd., Tadano Ltd. among others.
The Application of Mobile Cranes are Increasing due to its Portability and Integration of Technology
Mobile cranes are versatile and readily moved to various job sites; hence it is of high adaptability. At the same time, fast setup times compared to fixed cranes adds advantages to operational efficiency. Mobility makes them easy to move around to different locations with not much fuss. Mobile cranes find applications in various industries such as construction, infrastructure development, oil & gas, etc. Incorporation of technologies such as telematics and GPS for efficiency and safety purposes. Such factors have been propelling the global mobile cranes demand.Key Trends and Recent Developments
Advancement in technology, demand for electric and hybrid models and rise in urbanisation are a few factors shaping the mobile cranes market dynamic and trends.June 2024
Liebherr launched a new six-axle mobile crane named LTM 1400-6.1. It has a lifting capacity of 400 tonnes along with a 70-metre telescopic boom and simpler setup.Advances in technology
A key trend in the mobile cranes market is the advances in technology, such as telematics, automation, and remote control systems, have been adopted to increase operational efficiency and safety through highly accurate, smooth crane operations.Higher demand for electric and hybrid models
Increasingly, the need for environmentally friendly cranes is fast gaining ground, creating a good base market for electric and hybrid cranes since they are associated with low emissions and reduced operational costs.Rise in urbanisation and growth in infrastructure development activities
Urbanisation and large infrastructure projects will continue to be the main drivers for mobile cranes, which play a critical role in the construction, lifting, and placing of materials or equipment at a site in populated or high-complexity areas. Such factors are ultimately going to open up mobile cranes market opportunities.Mobile Cranes Market Trends
Two of the major trends which are impacting the mobile crane industry growth are the adoption of high-end technologies and green models. The incorporation of advanced technologies, like telematics and automation, boosts crane efficiency, safety, and operational accuracy. However, increasing the demand for electric and hybrid mobile cranes is their low operational cost and environmentally friendly attributes over conventional cranes. These trends mirror the larger industry push toward optimization in performance, sustainability, and adaptability to meet evolving construction and infrastructure needs.Industry Outlook
Growth in Infrastructure Development Increases Demand In The Mobile Cranes Market
The stability and lifting capacity of the cranes underline the success of the infrastructure development projects. In 2021, the highest percentage of its GDP towards spending on infrastructure was by China, as 4.8%. Its spending on roads amounts to USD 741.54 billion, which is way larger than what others have invested in their roads. It also tops the list of rail spending at USD 109.44 billion, which demonstrates some emphasis upon comprehensive transportation networks. The spending on air is huge, too, at USD 32.27 billion, supporting its gigantic domestic and international air travel demands. These investments reflect China's interest in robust infrastructure to support economic growth and connectivity, creating a new trend in the mobile cranes industry.Other countries allocate smaller percentages of their GDP to infrastructure. For infrastructure spending, South Korea and Switzerland are of approximately similar size, at about 1.3% of GDP, although with a very different set of sectoral priorities. Spending on rail in South Korea amounts to USD 7.42 billion, while in Switzerland it amounts to USD 4.33 billion and USD 5.56 billion on roads. Japan, which is spending 1.1% of GDP on infrastructure, has massive investments in rail and road networks - USD 20.13 billion and USD 38.83 billion respectively, a sure sign that an efficient transport system is crucial to densely populated and urbanised areas.
In Europe, the percentages of expenditure on infrastructure are typically less than 1% of GDP. Both Russia and Turkey are spending 0.95% and 0.93% of their respective GDPs on infrastructure development in rail - USD 6.27 billion and USD 2.58 billion - and roads, proof that they are striving to upgrade transportation. The United Kingdom, France, and Italy have a balanced approach with apparent spending in the rail and road sectors. Germany spent 0.77% of GDP: it is investing USD 19.46 billion in roads and USD 11.92 billion in rail, which underlines the fact that it needs to maintain and extend transport infrastructure in a main economic hub, propelling the mobile cranes demand growth.
Of the North American countries, Canada and the United States invested lower percentages of GDP. For example, whereas the United States only had 0.51% of its GDP spent on this sector, when considering spending values for roadways (USD 108.55 billion) and air (USD 10.23 billion), the extraordinary cost of funding a far-reaching infrastructure, in addition to the wide-ranging maintenance requirements that accompany such, becomes clear. In the context of Canada, this is much more evenly split between inland, air, rail, and road expenditures, with USD 1.39 billion being spent inland and USD 8.92 billion being spent on roadways. New Zealand and Spain commit less than 0.6% of GDP, spread into the many different sectors in order to reinforce their transport network.
Mobile Cranes Industry Segmentation
Global Mobile Cranes Market Report and Forecast 2025-2034” offers a detailed analysis of the market based on the following segments:Market Breakup by Boom Type
- Lattice Boom
- Telescopic Boom
Market Breakup by Carrier Type
- Wheel Mounted
- Track Mounted
Market Breakup by Terrain Type
- On-Road
- Rough Terrain
- All-Terrain
Market Breakup by End User Industry
- Residential and Commercial Buildings
- Infrastructure
- Manufacturing
- Utilities
Market Breakup by Business
- Original Equipment Manufacturers (OEMs)
- Aftermarket
Market Breakup by Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East and Africa
Mobile Cranes Market Share
Increasing Investments in Infrastructure Development Activities to Drive the Market Growth
As per mobile cranes market analysis, the demand for mobile cranes is being propelled by the increasing investments towards the infrastructure development, rapid urbanisation, and thriving end use industries of the product. The expansion of the mining sector across the world is driving the demand for mobile cranes. In addition to this, new innovations in the market are leading to the growth of the mobile cranes industry. Mobile cranes provide flexibility as it can move in every direction and also saves space. Mobile cranes offer high strength which allows them to complete heavy lifting tasks. One of the key drivers in the mobile cranes industry is the cost effectiveness of the product owing to the fact that it can be rented, which reduces the time to finish a job, thereby minimising downtime on the jobsite.Low Capacity, Rugged Terrain and Weather Conditions Raise the Effective Cost of Construction
- By and large, mobile cranes possess relatively low lifting capacity when compared to stationary cranes.
- It can be limited by terrain conditions. Stable ground is essential for safe operation.
- The Maintenance and fuel costs may be high and, therefore, increase the overall operational costs.
- Their operation may be affected by adverse weather conditions. Wind speed and precipitation become very critical in their operation.
- As per mobile cranes industry analysis, technological advancements of other kinds of lifting technology/vehicles could cannibalise traditional uses of mobile cranes.
- Hybrid and electric-powered mobile cranes are some of the potential innovations that can help bring down the ecological impact and operational cost associated with these machines.
- Investments in various infrastructure projects around the world, like road, bridges, and railways, stimulate the mobile cranes demand.
- The opportunities lie in the provision of retrofitting services that can facilitate better performance, operational efficiency, and effectiveness of the existing mobile crane fleets, thus aiding the demand of mobile cranes market.
Mobile Cranes Market Regional Analysis
Advancements in Technology in the Asia Pacific to Augment the Mobile Cranes Industry Growth
Geographically, the mobile cranes market in Asia Pacific is estimated to hold a significant share in the global industry. Advancements in technology and new innovations in machinery have invigorated the market growth. Within the Asia Pacific, China significantly contributes to the industry growth owning to the increased focus of the domestic market players on upgrading the technology used in modern cranes. Mobile cranes can be set up really fast, which minimises the amount of time spent on the worksite while the job is underway. This factor is anticipated to aid the market growth in the region. Moreover, the rapid urbanisation, infrastructural development, and increasing investments in the development of residential and commercial structures in India, China, and other countries are likely to provide impetus to the market in the forecast period.Competitive Landscape
The key players in the mobile cranes market focus on integrating advanced technologies into their products, developing eco-friendly electric and hybrid models, and expanding product lines to meet diversified market needs by applications and enhancing operational efficiency in mobile cranes.Altec Industries, Inc.
Founded in 1929, Altec Industries, Inc. is an Alabama corporation in Birmingham specialising in versatile and reliable varieties of mobile cranes. Its products also include a wide range of telescoping cranes and truck-mounted cranes used in many applications for lifting and construction.Cargotec Corporation
Founded in Helsinki, Finland in 2005, Cargotec Corporation provides new mobile crane solutions in the name of Hiab, such as loader cranes, truck-mounted cranes, and demountable systems - nothing more, nothing less - only cutting-edge technology and efficiency.The Manitowoc Company, Inc
The Manitowoc Company, Inc is a 1902-established company in Milwaukee, Wisconsin. It is a manufacturer of high quality, rugged, and extremely durable mobile cranes of rough terrain and all-terrain cranes along with truck-mounted cranes with promises of superior performance under the most demanding work conditions for construction sites.Other key players in the Mobile Cranes Market are Sany Heavy Industry Co., Ltd., Tadano Ltd. among others.
Competitive Landscape in Global Mobile Cranes Market
- The brands that have built a reputation for reliable cranes and after-sales service - related to maintenance and availability of parts - gain out of the deal.
- Continuously innovating manufacturers offering a wide and diversified range of mobile cranes by way of specific lifting capacity, terrain, and applications attract a wider set of customers.
- Competitive pricing for purchase and rental models, coupled with financing solutions, will help budget-sensitive buyers and renters in the construction and allied industries, accelerating the mobile cranes market revenue.
- The presence of companies having huge global presence and well-established distribution networks assures easy reach of cranes, spares, and technical support to all customers across the globe.
- Advanced features like remote control, telematics for data collection, or an improved safety system can eventually integrate and become a differentiator of a manufacturer from the rest. Various environment-friendly features such as reduced fuel consumption, less noise, and biodegradable lubricants will help cranes appeal to greening-conscious customers and comply with increasingly strict emission regulations.
- In-house product development, collaborations with other industry players, or strategic acquisitions can increase the number of products in the company's portfolio, thus opening new markets for the company and increasing its competitiveness in existing markets.
Demand Indicators in Global Mobile Cranes Market
- Government investment in infrastructure projects and policies promote the development of renewable energy. These policies represent the drivers of demand for mobile cranes.
- Increasing investment in infrastructure, residential, and commercial construction projects will continue to drive demand for mobile cranes for lifting and placing heavy materials, bolstering the mobile cranes industry revenue.
- A growing trend to rent mobile cranes for short-term projects, as upfront costs are relatively lower and there is flexibility in choosing the right equipment.
Key Indicators for Price in the Global Mobile Cranes Market
- Since mobile cranes contain a large quantity of steel, any change in steel prices can have a significant impact on the manufacturing cost and, hence, on crane prices.
- Fluctuations in labour cost, energy prices, and other production-related expenses could influence the overall price of the mobile cranes.
- The demand-supply gap may result in price competition amongst the manufacturers.
- Improvements in material science and the manufacturing process may help bring down production costs, which may translate into cheaper crane prices, and boost the growth of the mobile cranes market.
- Fluctuations in exchange rates between currencies impact the import/export cost of the mobile crane, hence affecting regional prices.
- Improved fuel economy in cranes might very well mean charging higher prices while buyer's operating costs are lower.
Table of Contents
1 Executive Summary
2 Market Overview and Stakeholder Insights
3 Economic Summary
4 Country Risk Profiles
5 Global Mobile Cranes Market Analysis
6 North America Mobile Cranes Market Analysis
7 Europe Mobile Cranes Market Analysis
8 Asia Pacific Mobile Cranes Market Analysis
9 Latin America Mobile Cranes Market Analysis
10 Middle East and Africa Mobile Cranes Market Analysis
11 Market Dynamics
12 Competitive Landscape
Companies Mentioned
- Altec Industries, Inc.
- Cargotec Corporation
- The Manitowoc Company, Inc
Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 160 |
| Published | July 2025 |
| Regions Covered | Global |
| No. of Companies Mentioned | 3 |
