Mobile Crane Market Size is Expected to Reach USD 30.83 billion by 2033, Growing at a CAGR of 6.7% | Straits Research

The global mobile crane market size was valued at USD 17.2 billion in 2024 and is projected to grow from USD 18.35 billion in 2025 to reach USD 30.83 billion by 2033, growing at a CAGR of 6.7% over the forecast period (2025-2033).

/EIN News/ -- New York, United States, Jan. 29, 2025 (GLOBE NEWSWIRE) -- A mobile crane is a type of crane that is designed to be easily transported and used for lifting heavy loads. It typically has a telescoping boom, which can be extended and retracted, allowing it to reach various heights and distances. The crane is mounted on wheels or tracks, making it mobile and capable of being moved to different locations for various construction or industrial tasks.

Mobile cranes are commonly used in construction, shipping, and manufacturing for tasks such as lifting heavy materials, setting up equipment, or placing large structures. They are versatile and can be used on both rough terrain and paved surfaces. There are different types of mobile cranes, including truck-mounted cranes, all-terrain cranes, and rough terrain cranes, each suited to specific environments or tasks.

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Market Dynamics

Rising construction and infrastructure projects drive the global market

The global demand for mobile cranes is being driven by rapid urbanization and large-scale infrastructure projects. As cities grow and new mega-structures emerge, cranes are essential for lifting and transporting heavy materials. With significant investments from both governments and private sectors in smart cities, transportation networks, and energy-efficient buildings, mobile cranes are crucial for meeting the demands of these ambitious projects.

• For instance, projects like the construction of smart cities in India and the UAE, including the Dubai Creek Tower, heavily rely on cranes for tasks such as lifting and positioning large building materials. As the scale and complexity of urban development continue to grow, mobile cranes remain indispensable tools for construction and infrastructure projects around the world.

Emergence of advanced safety features in crane operations creates tremendous opportunities

The global mobile crane market is experiencing significant growth opportunities due to the integration of advanced safety features in crane operations. As safety regulations become stricter across various industries, manufacturers are incorporating cutting-edge technologies to improve operator safety and reduce accident risks.

A key innovation in this area is the development of Anti-Sway Control (ASC) systems, designed to prevent load swaying during operation, which helps minimize the chance of accidents. Leading companies like Liebherr and Manitowoc are at the forefront of this advancement. For example, Liebherr’s LTM 1650-8.1 crane is equipped with an integrated ASC system, enhancing safety when lifting heavy loads.

With safety concerns increasingly central to sectors such as construction and oil & gas, the growing demand for these advanced safety features presents a major growth opportunity for the mobile crane market worldwide.

Regional Analysis

In 2023, the Asia-Pacific region captured the largest revenue share in the global mobile crane market and is expected to maintain the fastest compound annual growth rate (CAGR) throughout the forecast period. This growth is primarily driven by rapid construction activities in emerging economies such as China, India, and the Philippines.

In China, the demand for mobile cranes is surging due to strong infrastructure development and the growth of manufacturing industries. Furthermore, the Belt and Road Initiative (BRI) has played a pivotal role in boosting this demand. With over 140 countries collaborating with China to fund large-scale development projects, the BRI is fueling investments across diverse economic regions, further accelerating the need for mobile cranes.

As construction and infrastructure projects continue to expand, particularly in urban and industrial sectors, the Asia Pacific market is set to strengthen its dominance in the global mobile crane industry.

Key Highlights

• The global mobile crane market size was valued at USD 17.2 billion in 2024 and is projected to grow from USD 18.35 billion in 2025 to reach USD 30.83 billion by 2033, growing at a CAGR of 6.7% over the forecast period (2025-2033).
• Based on Type, the global market is segmented into all-terrain cranes, rough terrain cranes, truck-mounted cranes, crawler cranes, pick-and-carry cranes, and others. The all-terrain cranes segment dominates the market and has the largest market revenue.
• Based on Capacity, the global market is segmented into less than 20 tons, 20-100 tons, 100-200 tons, and above 200 tons. The above 200 tons segment leads in market share.
• Based on Application, the global market is segmented into construction, oil & gas, shipbuilding, power & utilities, and others. The construction segment dominates the market with the highest market revenue.
• Asia-Pacific is the most significant global market

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Competitive Players

1. Bauer AG
2. KATO WORKS CO., LTD.
3. KOBELCO Construction Machinery Co., Ltd.
4. Liebherr-International AG
5. LiuGong Machinery Co., Ltd.
6. Manitex International
7. PALFINGER AG
8. SANY HEAVY INDUSTRY INDIA PRIVATE LIMITED
9. Sarens NV
10. Sumitomo Heavy Industries, Ltd.
11. Tadano Ltd.
12. Terex Corporation

Recent Developments

• In May 2024, Port and Terminal Multiservices Limited (PTML), Nigeria's largest RoRo multipurpose terminal, made a significant investment by procuring anLHM 600 mobile harbor crane valued at over €7 million. This strategic acquisition is expected to enhance the terminal's operational efficiency and handling capacity, further supporting the growth of maritime logistics in the region.

Segmentation

By Type

• All-Terrain Cranes
• Rough Terrain Cranes
• Truck-Mounted Cranes
• Crawler Cranes
• Pick and Carry Cranes
• Others

By Capacity

• Less than 20 Tons
• 20-100 Tons
• 100-200 Tons
• Above 200 Tons

By Applications

• Construction
• Oil & Gas
• Ship Building
• Power & Utilities
• Others

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