Mobile Crane Market report delivers future development strategies, key companies, Possibility of competition, major challenges analysis. The reports elaborate the expansion rate of the Mobile Crane market supported the highest company profile analysis. This report providing an in-depth analysis, market size, and evaluation for the developing segment among the industry. Mobile Crane Market report will help you take expert decisions, recognize opportunities, plan effective professional tactics, plan new schemes, analyse drivers and restraints and give you a vision on the Mobile Crane Market forecast.
The Mobile Crane Market report discusses the primary industry growth drivers and challenges that the vendors and the market as a whole face and provides an overview of the key trends emerging in the market. It also talks about the market size of different segments and their growth aspects along with key leading countries in Americas, Asia-Pacific, Europe, the Middle East, and Africa regions.
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The mobile cranes market is projected to reach USD 17.03 billion by 2025 and expected to grow with the CAGR of 6.1% over the forecast period, from 2019 to 2025. Growing construction activities in order to refurbishment of existing infrastructures and government support for constructing better infrastructures including hospitals, schools, stadiums, airports, and government buildings are expected to drive the market growth over the forecast period. In addition, the growing application of these crane in both core and non-core industrial developments is expected to fuel the market growth in the next few years.
In developing countries, especially in India, the demand for mobile cranes is increasing due to rising a number of infrastructure projects which has generated the need for lifting and erection machinery. The mobile crane market is expected to have robust growth in core infrastructure as well as industrial sectors. Mobile crane rental agencies and manufacturers are witnessing an increase in demand for high and medium capacity cranes. Moreover, mobile cranes are also used for industrial applications like turbine manufacturing and power plants, in India.
On the other hand, the demand for mobile cranes are gaining traction in China owing to the One Belt One Road initiative taken by the government of China. This initiative would help to develop better trading facilities including infrastructures, roads, and bridges. This infrastructure includes railway projects, buildings, and energy projects between India, Pakistan, and China. Moreover, in Europe, the house building projects are surging the demand for these cranes, thereby expected to drive the regional market growth.
U.S. government is estimated to surge its infrastructure expenses by more than USD 1 trillion in the next few years in order to create more job opportunities. This factor is expected to boost the demand for mobile cranes. Additionally, factors like robust industrialization, commercialization, increasing usage in mining projects, and implantation of advanced technology like GPS technology-enabled mobile cranes are projected to flourish the market growth during the forecast period.
Some of the companies for Mobile Crane market are:
XCMG Group, Kobelco Construction Machinery Co. Ltd., Tadano Ltd., Liebherr-International AG, and Manitowoc
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