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The global mobile crane market size is anticipated to reach USD 22.34 billion by 2026, on account of rapid urbanization and increasing import-export activities worldwide. Additionally, the increasing adoption of machine learning technologies, coupled with Artificial Intelligence and Industrial Internet of Things, are the current market trends. This information is provided in a recently published report by Fortune Business Insights™ titled, “Mobile Crane Market Size, Share & Industry Analysis, By Type (Truck Crane, All Terrain Crane, Rough Terrain Crane, Crawler Crane and Others), By Application (Construction, Oil & Gas, Ship Building, Power & Utilities and Others) and Regional Forecast, 2019-2026.” As per this report, the value of this market was USD 14.35 billion in 2018 and is likely to rise at a CAGR of 5.8% between 2019 to 2026.
N.C. Neilson’s Latest Machinery will Set High Bars for Market Competitors
Konecranes and N.C. Neilson entered into strategic collaborations for the production of long-standing expertise in bulky goods. The main objective of N.C. Neilson is to develop innovative heavy-duty reach stackers for lifting the heaviest of the bulky goods and are raising bars of competition in the mobile crane market. Their latest equipment offers features such as flexibility, operator comfort, technical capabilities, and manoeuvrability. This company provides lifting capabilities ranging from 65 tons to 152 tons with the latest options such as forks or jobs, containers, and spreaders, hook, and others and are available in various colors. The company guarantees priority to operator safety and is, therefore, attracting high market revenue in the current period.
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Rise in Demand from Oil and Gas Refineries will Boost Market
The development of large-scale infrastructure projects is likely to add impetus to the mobile crane market growth. Moreover, the rapid modernization leading to the increasing construction of public infrastructures such as shopping malls, airports, hospitals, schools, and others are also expected to aid in the expansion of the market in the forthcoming years. Additionally, there is a rise in the import-export of mobile cranes throughout various geographies, and this will further boost the market. This, coupled with the increasing demand from oil and gas refineries and shipbuilding sectors, are also driving the market. Furthermore, continuous efforts from private and government bodies to implement advanced technology and machine language in upcoming equipment is expected to create lucrative growth opportunities for the market in the forthcoming years.
Latin America Market to Witness Lucrative Growth Opportunities with Substantial Number of Projects Undertaken by its Nations
Asia Pacific emerged dominant with a mobile crane market share of USD 6.27 billion in 2018. This is attributable to the increasing adoption of advanced technology based on high-end applications. Within this region, China emerged dominant owing to the presence of major manufacturing companies. On the other side, the market in North America will witness significant shares on account of rising investments in shipbuilding, energy, and construction sectors. Furthermore, Brazil is covering the highest number of pipeline infrastructure projects with a value of USD 241.54 billion, thus attracting significant shares
for the Latin American market. Currently, this region has 421 planned projects wherein Argentina possesses 92 projects worth USD 58 billion and Colombia maintaining 114 projects worth USD 66.8 billion at hand.
Significant Industry Developments in the Mobile Crane Market are:
List of Players Operating in this Market are as follows:
Further Report Findings
The Global Mobile Crane Market is classified into:
Value (USD billion)