Published Date: 28-Feb-2022
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According to a new report Global Mobile Cranes Market, published by KBV research, The Global Mobile Cranes Market size is expected to reach $16.9 billion by 2027, rising at a market growth of 4.8% CAGR during the forecast period.
The Truck Mounted Crane is leading the Global Mobile Cranes Market by Product Type 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $10.5 billion by 2027. This growth is attributed to the increased demand for mobile machinery in power & utilities, construction, and other industry verticals. Truck-mounted equipment has a large loading capacity and can facilitate the transportation of items from one location to another. These machines are commonly utilised in construction projects like bridge construction, railway construction, and hydropower development.
The Industrial market is expected to witness a CAGR of 4.9% during (2021 - 2027). Mobile cranes are widely used in handling and lifting highly sensitive machines in industrial sector and also streamlining the process of replacement along with the installation of new machineries or equipment.
The Asia Pacific market dominated the Global Mobile Cranes Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $8.4 billion by 2027. The Europe market is expected to witness a CAGR of 4.3% during (2021 - 2027). Additionally, The North America market is expected to witness a CAGR of 4.6% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/mobile-cranes-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of BAUER AG, The Manitowoc Company, Inc., Kobelco Construction Machinery Co., Ltd. (Kobe Steel, Ltd.), Liebherr-International AG, Manitex International, Inc., Palfinger AG, Sarens N.V. /S.A., Terex Corporation, Zoomlion Heavy Industry Science & Technology Co., Ltd., and Xuzhou Construction Machinery Group Co., Ltd.
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