Mobile Crane Market to 2027 - Global Analysis and Forecasts by crane type (Truck Cranes, All-Terrain Cranes, Rough Terrain Cranes, Crawler Cranes, and others); Application (Construction, Oil & Gas, Shipping & Port Building, Power & Utilities and Others)
Mobile Crane market is expected to grow US$ 9.82 billion by 2025 from US$ 8.32 billion in 2016. The constantly growing population has resulted in increased investments in the infrastructure and construction sector of various economies. Also, government initiatives for up gradation of existing infrastructure of the developed economies has resulted in increased demand for heavy construction machinery. Mobile cranes are extensively used in various applications including construction, oil & gas, shipping, etc. Furthermore, increased investments in the construction of power plants has also influenced the market growth particularly, in developing nations.
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The use of mobile cranes in construction sector is predicted to account for the highest share during the forecast period. The construction sector of all the regions are experiencing a huge growth particularly, in the emerging economies worldwide. Also, the governments of developed nations are investing in renovation of their ageing infrastructure. For instance, the US president announced an initiative named as 'Rebuild America' to reconstruct the old infrastructure including roads, airports, rails and ports.