Asia-Pacific mobile cranes market is estimated to grow at a CAGR of 6.7% during the forecast period. The market was valued at nearly $5.9 billion in 2019, which is estimated to reach nearly $9.2 billion in 2026. The major factors encouraging market growth include the advances in industrial infrastructure and rising investment in infrastructure projects. In October 2019, the National Development and Reform Commission (NDRC) approved 21 infrastructure projects, which valued a minimum of $107.8 billion. A sharp rise in the approval of infrastructure project signifies larger infrastructure spending in the future, supporting to stabilize China’s economy. Additionally, rising seaports are also accelerating the growth of infrastructure activities in the country.
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Some key players in the market include Liebherr-International AG, Tadano Ltd., Sumitomo Heavy Industries, Ltd., and Konecranes. The market players are using some key strategies to increase their market share. For instance, in August 2019, Tadano Ltd. acquired the Demag Mobile Cranes business, which will bring together two crucial companies in the lifting equipment industry. This will increase the capability of Tadano group to deliver a premier choice to its customers. It widens its penetration into several markets across the globe, adds lattice boom crawler cranes to its entire product range, and augments the capacity range of its all-terrain cranes.
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- Market Coverage
- Market number available for – 2023-2029
- Base year- 2022
- Forecast period- 2023-2029
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill
- , and others
Asia-Pacific Mobile Cranes Market-Segmentation
By Product Type
- Truck Mounted Crane
- Crawler Crane
- Trailer Mounted Crane
By Application
- Construction
- Industrial
- Utility
Asia-Pacific Mobile Cranes Market– Segment by Country
- China
- Japan
- India
- Rest of Asia-Pacific
The Report Covers
- Comprehensive research methodology of the Asia-Pacific mobile cranes market.
- This report also includes a detailed and extensive market overview with key analyst insights.
- An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
- Analysis of regional regulations and other government policies impacting the Asia-Pacific mobile cranes market.
- Insights about market determinants which are stimulating the Asia-Pacific mobile cranes market.
- Detailed and extensive market segments with regional distribution of forecasted revenues.
- Extensive profiles and recent developments of market players.
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