Market Size of North America Mobile Crane Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | 6.00 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Mobile Crane Market Analysis
The North American mobile crane market is projected to register a CAGR of over 6% during the forecast period (2022 - 2027).
After the global recession in 2009, the construction sector in North America showed robust growth on account of the economic recovery and infrastructural developments, leading to the growth of construction and the dependent markets.
Government initiatives, such as Build America Investment Initiative, National Infrastructure Plan (NIP), and Canada's Economic Action Plan, aim to develop the infrastructure in the region through private investments.
Increasing construction activities are expected to boost the demand for mobile cranes in North America over the next five years. The projects taken up by the oil and gas industries are expected to create a huge demand for mobile cranes and other construction equipment in North America.
In 2020, the North American market for mobile cranes witnessed a steady decline as the government imposed strict lockdown measures across the region during the COVID-19 outbreak. In addition, the United States remained among the top countries that were significantly affected by the pandemic. Ongoing infrastructure projects and construction sites were shut down during this time, which greatly impacted the market for mobile cranes.
Productivity and requirement declined, and the number of workers at the sites decreased, creating a decline in the demand for mobile cranes. However, the market is gaining momentum. Immediately after Q3 2021, governments lifted several regulations and measures to boost the losses faced by several markets in North America.
North America Mobile Crane Industry Segmentation
The scope of the North American mobile crane market report covers the growing demand for mobile cranes across the region, government regulations on cranes, the impact of mobile crane rental services, the latest product developments, and market shares of players operating in the market. The market is segmented by type, application type, and country.
| Type | |
| Wheel-mounted Mobile Crane | |
| Commercial Truck-mounted Crane | |
| Side Boom | |
| Straddle Crane | |
| Railroad Crane | |
| Other Types |
| Application Type | |
| Construction | |
| Mining and Excavation | |
| Marine and Offshore | |
| Other Application Types |
| Country | |||||
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North America Mobile Crane Market Size Summary
The North American mobile crane market is experiencing a resurgence, driven by robust construction activities and significant government initiatives aimed at infrastructure development. Following the economic recovery post-2009 recession, the market saw growth, which was temporarily hindered by the COVID-19 pandemic as lockdowns led to project halts and decreased demand. However, the market is now gaining momentum, with increased demand anticipated from the oil and gas sector, which is shifting towards more complex extraction projects requiring advanced machinery. Government investments in infrastructure, particularly in the United States, are expected to further boost the market, supported by private investments and favorable economic conditions such as low-interest rates and increased housing subsidies.
The market landscape is characterized by the presence of major players like Konecranes, Cargotec Corporation, Liebherr Group, Tadano Demag GmbH, and Manitowoc Cranes, who are leveraging the demand for reliable mobile cranes in construction and industrial sectors. The market is fragmented, with regional players catering to smaller applications. These key players are investing heavily in research and development to enhance performance and safety features, making the market competitive and dynamic. Strategic moves, such as mergers and significant orders for eco-efficient cranes, indicate a focus on sustainable and high-performance solutions, aligning with the growing demand for advanced construction equipment.
North America Mobile Crane Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Drivers
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1.2 Market Restraints
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1.3 Porter's Five Forces Analysis
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1.3.1 Threat of New Entrants
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1.3.2 Bargaining Power of Buyers/Consumers
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1.3.3 Bargaining Power of Suppliers
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1.3.4 Threat of Substitute Products
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1.3.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Wheel-mounted Mobile Crane
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2.1.2 Commercial Truck-mounted Crane
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2.1.3 Side Boom
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2.1.4 Straddle Crane
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2.1.5 Railroad Crane
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2.1.6 Other Types
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2.2 Application Type
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2.2.1 Construction
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2.2.2 Mining and Excavation
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2.2.3 Marine and Offshore
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2.2.4 Other Application Types
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2.3 Country
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2.3.1 North America
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2.3.1.1 United States
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2.3.1.2 Canada
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2.3.1.3 Rest of North America
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North America Mobile Crane Market Size FAQs
What is the current North America Mobile Crane Market size?
The North America Mobile Crane Market is projected to register a CAGR of greater than 6% during the forecast period (2024-2029)
Who are the key players in North America Mobile Crane Market?
Konecranes, Cargotec Corporation, Liebherr Group, Tadano Demag GmbH and Manitowoc are the major companies operating in the North America Mobile Crane Market.
