Mobile Crane Market in North America: An In-depth Size and Share Analysis
The global mobile crane market is set to witness substantial growth in the coming years, fueled by a surge in construction and renovation activities worldwide. The construction industry’s steady expansion, supported by favorable government regulations in countries such as India, the United States, Germany, and Saudi Arabia, has created new avenues for the use of mobile cranes.
In 2021, the Saudi Arabian Government unveiled plans for “The Line,” a massive smart city project spanning 170 kilometers. This ambitious undertaking, equipped with cutting-edge technology such as high-speed transportation and AI-based digital infrastructure, relies heavily on mobile cranes for lifting heavy construction materials. The compact size and versatile nature of mobile cranes make them indispensable for working in confined spaces at construction sites.
All-terrain cranes are poised to experience a significant surge in demand, thanks to their superior lifting capacity and maneuverability, even in challenging weather conditions. These cranes find applications in construction, oil and gas production, and power stations, making them a valuable asset in various industries.
North America is expected to dominate the mobile crane market, driven by the recovery of oil prices and a rise in commercial and residential projects. Reduced oil prices are playing a crucial role in influencing market growth, and surplus mobile cranes are entering the market due to auctions held by oil companies. Additionally, North American governments are investing heavily in infrastructure development, further boosting the construction sector’s demand for mobile cranes.
Meanwhile, the Asia Pacific region is set to witness significant growth in the mobile crane market, driven by a booming infrastructure industry and government initiatives to promote growth. Schemes like India’s “Bharatmala Yojana” and investments from institutions like the Asian Infrastructure Investment Bank (AIIB) are contributing to infrastructure development in the region, creating ample opportunities for mobile crane manufacturers.
Key players in the mobile crane market are focusing on technology and research and development to introduce innovative products. They are also forming strategic collaborations and alliances to expand their global presence. Liebherr International, Manitowoc, Zoomlion, and Konecranes are among the leading manufacturers in the industry, consistently pushing the boundaries of crane technology.
As the construction sector continues to thrive, the mobile crane market is set to play a pivotal role in supporting the industry’s growth. With a focus on innovation and global expansion, mobile crane manufacturers are well-positioned to meet the increasing demand for their products.
Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2023-2030 – By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa) https://www.fairfieldmarketresearch.com/report/mobile-crane-market
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