The Latest Mobile Crane Industry Statistics Explained
The global mobile crane market size was valued at USD 12.4 billion in 2020.
The statistic stating that the global mobile crane market size was valued at USD 12.4 billion in 2020 represents the total monetary value of mobile crane sales worldwide during that year. This figure encompasses the revenue generated from the sales of different types of mobile cranes, such as crawler cranes, truck-mounted cranes, and rough-terrain cranes, across various regions and markets. The market size provides insights into the scale and importance of the mobile crane industry, indicating substantial demand for these heavy equipment for construction, infrastructure development, and industrial projects globally. This statistic can help industry stakeholders, investors, and decision-makers gauge the overall economic significance of the mobile crane market and track its growth or fluctuations over time.
The market is expected to expand at a compound annual growth rate (CAGR) of 6.1% from 2021 to 2028.
This statistic indicates the projected growth rate of the market over a specified period, from 2021 to 2028, expressed as a compound annual growth rate (CAGR) of 6.1%. The CAGR provides a smooth and consistent measure of growth over multiple years, taking into account the compounding effect of growth over time. In this case, it suggests that the market is anticipated to steadily increase at an average annual rate of 6.1% during the specified timeframe. This information is valuable for investors, analysts, and businesses to understand the potential growth trajectory of the market and make informed decisions based on these growth projections.
In 2020, Asia Pacific held the largest revenue share, accounting for 40.8% of the market.
The statistic indicates that in the year 2020, the Asia Pacific region captured the predominant share of revenue in a specific market, accounting for 40.8% of the total revenue generated. This suggests that the Asia Pacific region was the most significant contributor to overall market performance in terms of revenue generation, outpacing other regions. The strong revenue share highlights the region’s economic importance and underscores its role as a key player in the market landscape for that particular year. This statistic could also serve as a key indicator for businesses and policymakers looking to understand market dynamics and make informed decisions related to investment, expansion, and strategic planning within the Asia Pacific region.
Europe is projected to expand at the highest CAGR of 6.6% over the forecast period.
The statistic “Europe is projected to expand at the highest CAGR of 6.6% over the forecast period” means that the compound annual growth rate (CAGR) of Europe’s economy, market, or any other relevant factor is estimated to be the highest compared to other regions over a specified time frame. In this case, it suggests that Europe is expected to experience significant growth over the forecast period, with an annual average growth rate of 6.6%. This projection indicates a positive outlook for Europe in terms of economic expansion and development, making it potentially an attractive market for investment and business opportunities in the future.
Rough-Terrain cranes segment held the largest market share in 2020 and is expected to exhibit the fastest CAGR from 2021 to 2028.
The statistic indicates that in 2020, the market share of the Rough-Terrain cranes segment was the highest among all other crane segments. Furthermore, it is forecasted that this particular segment will experience the most rapid Compound Annual Growth Rate (CAGR) between the years 2021 and 2028, signifying a strong potential for growth and market expansion. This suggests that Rough-Terrain cranes are gaining significant traction within the industry and are likely to be a key driver of market growth in the foreseeable future.
Positive long-term outlook for oil & gas, construction, and shipping sectors is expected to drive market growth.
The statistic highlights the anticipation of a positive long-term outlook for the oil & gas, construction, and shipping sectors, indicating an expectation of growth in these industries. This forecast suggests that these sectors are likely to experience increased demand, investment opportunities, and overall expansion in the future. Factors such as rising global energy consumption, infrastructure development projects, and international trade activities are expected to drive this growth. Investors and stakeholders in these industries may benefit from taking advantage of the anticipated market expansion and positioning themselves strategically to capitalize on the opportunities presented by the positive outlook in the oil & gas, construction, and shipping sectors.
All-terrain cranes segment also exhibited a significant demand, thanks to wide applications in wind farms.
The statistic suggests that the all-terrain cranes segment experienced a notable increase in demand, largely due to their versatility and extensive use in wind farms. This growth in demand indicates that there is a growing need for cranes that can navigate various types of terrains, making them ideal for construction projects in remote or rugged locations such as wind farms. The significant demand for all-terrain cranes highlights the importance of their adaptability and efficiency in meeting the specific requirements of industries like renewable energy that rely on specialized equipment for their operations.
The mobile crane market to rise at 6.8% CAGR till 2026.
This statistic indicates that the mobile crane market is expected to experience a Compound Annual Growth Rate (CAGR) of 6.8% until the year 2026. This growth rate suggests a steady and consistent increase in the market size and demand for mobile cranes over the specified period. Factors such as infrastructure development, construction projects, industrial growth, and technological advancements are likely driving this growth. Investors, businesses, and stakeholders in the mobile crane industry may use this projection to guide their decision-making processes, strategic planning, and investment opportunities.
The global mobile crane market could exceed USD 17 Billion by 2024.
The statistic “The global mobile crane market could exceed USD 17 Billion by 2024” indicates a projected growth in the market value of mobile cranes worldwide to potentially surpass $17 billion within the next few years. This projection suggests a positive outlook for the mobile crane industry, driven by factors such as increasing urbanization, infrastructure development, and construction activities globally. The significance of this statistic lies in the potential economic impact and opportunities for stakeholders within the mobile crane market, including manufacturers, suppliers, and construction companies, as they adapt to meet the growing demand for mobile crane equipment and services.
In 2019, North America was the second-largest market.
The statistic ‘In 2019, North America was the second-largest market’ likely refers to the regional market size or market share within a specific industry or sector. This suggests that North America ranked as the second-highest in terms of market size, value, revenue, or other relevant metric compared to other regions during that year. This information is important for businesses and policymakers to understand the competitive landscape and potential opportunities within North America and highlights the region’s significance in the global market environment. Further analysis may be necessary to determine key factors contributing to North America’s market standing and to assess its implications for future strategic decision-making.
The emerging markets of India and China, are expected to show high growth potential for the mobile crane market.
The statistic indicates that the emerging markets of India and China are anticipated to have significant growth potential in the mobile crane market. This means that there is likely to be an increasing demand for mobile cranes in these countries, potentially driven by industrial and infrastructure development projects. The high growth potential suggests that there may be lucrative opportunities for mobile crane manufacturers and suppliers to expand their businesses in these markets. Factors such as urbanization, construction boom, and increasing investment in infrastructure projects in India and China could be contributing to this positive outlook for the mobile crane market in these emerging economies.
The mobile crane market of China is projected to be the largest globally in terms of revenue by 2020.
The given statistic indicates that by the year 2020, China is expected to lead the global mobile crane market in terms of revenue generation. This projection suggests that China will surpass all other countries in terms of revenue generated from mobile crane sales and rentals. The growth of the Chinese mobile crane market is likely attributed to factors such as rapid infrastructure development, increasing construction activities, and the booming industrial sector in the country. This statistic highlights the significant role that China plays in the global construction and heavy equipment industry, positioning the country as a key player in the mobile crane market.
Mobile tower cranes are anticipated to grow at a rate of 7.9% in the forecasted period 2021-2026.
The statistic indicates that the number of mobile tower cranes is expected to increase at a compound annual growth rate of 7.9% over the forecasted period from 2021 to 2026. This growth rate represents the projected yearly average percentage increase in mobile tower crane installations during this period. The forecast suggests a steady growth trend in the demand for mobile tower cranes, which could be influenced by factors such as urban development, infrastructure projects, and construction activities. This statistic provides insights into the potential expansion of the mobile tower crane market and could be valuable for industry stakeholders, investors, and decision-makers in planning future investments and strategic decisions.
Latin America, Middle East, and Africa is expected to expand at the highest CAGR over the forecast period.
The statement indicates that the regions of Latin America, the Middle East, and Africa are projected to experience the highest Compound Annual Growth Rate (CAGR) compared to other regions over the forecast period. This suggests that these regions are expected to have the highest rate of growth in economic or market indicators within a specific timeframe. Factors such as increasing investments, improving infrastructure, rising consumer demand, and favorable government policies may contribute to the accelerated growth in these regions. The data implies that opportunities for business expansion, market penetration, and investment returns are likely to be most attractive in Latin America, the Middle East, and Africa during the forecast period.
Rapid Urbanization across the World to Boost the Market.
The statistic “Rapid urbanization across the world to boost the market” suggests that the ongoing trend of increasing urban population growth in various regions globally will have a positive impact on market growth. Urbanization is generally accompanied by increased demand for goods and services, infrastructure development, and economic opportunities, all of which can contribute to boosting various market sectors such as real estate, construction, transportation, consumer goods, and technology. Companies operating in these markets are likely to benefit from the expanding urban population, leading to potential market growth and opportunities for investment and business expansion.
Construction industry contributed the highest revenue to the global mobile crane market in 2018.
The statistic “Construction industry contributed the highest revenue to the global mobile crane market in 2018” indicates that the construction industry generated the most revenue within the worldwide mobile crane market in the year 2018. This suggests that construction companies and projects were the primary consumers of mobile crane services, highlighting the industry’s reliance on these equipment for lifting and transporting heavy materials. The high revenue contribution also reflects the significant role that the construction sector plays in driving the demand for mobile cranes, demonstrating its importance in supporting the growth and development of the mobile crane market on a global scale.
The overall mobile crane market is segmented on the basis of product type, application, and geography.
This statistic indicates that the entire mobile crane market is divided into different segments based on three main criteria: product type, application, and geography. Product type segmentation may differentiate between different types of mobile cranes such as truck-mounted, rough-terrain, all-terrain, or crawler cranes. The application segmentation could categorize the market based on various industries or sectors that utilize mobile cranes, such as construction, oil and gas, shipping, or manufacturing. Finally, geography segmentation involves dividing the market based on different regions or countries where mobile crane usage varies due to factors like economic conditions, infrastructure development, or regulatory requirements. The segmentation of the overall mobile crane market helps industry stakeholders analyze specific market trends, better understand customer needs, and tailor their strategies to target relevant segments effectively.
The market of mobile cranes is expected to grow due to an increase in construction and mining activities.
This statistic indicates a forecasted expansion in the market for mobile cranes, driven by an anticipated rise in construction and mining activities. The growth in these industries suggests an increased demand for mobile cranes, which are crucial equipment for lifting and moving heavy materials in construction and mining sites. As these sectors continue to thrive, the need for mobile cranes is expected to grow in tandem to support various infrastructure development projects and extractive activities. The projected market growth points towards a positive outlook for mobile crane manufacturers and suppliers, signaling potential opportunities for business expansion and investment in response to the escalating demand in construction and mining sectors.
The Argentine mobile crane market will reach $188 Million by 2026.
The statistic that the Argentine mobile crane market will reach $188 million by 2026 implies a projected growth in the market’s size and value over the coming years. This forecast is based on an analysis of various factors such as economic trends, construction industry growth, infrastructure development, and demand for crane services in Argentina. The figure represents the estimated total revenue generated by mobile crane sales, rentals, and services in the country by the end of 2026. This statistic provides insight into the potential opportunities and expansion expected in the Argentine mobile crane sector, indicating a positive outlook for the industry in the near future.
The mobile crane market in the U.S. is estimated at $2.4 Billion in the year 2021.
The statistic “The mobile crane market in the U.S. is estimated at $2.4 billion in the year 2021” indicates the total value of mobile crane sales within the United States for that particular year. This figure represents the financial magnitude of the market, illustrating the significant economic activity surrounding the manufacturing, selling, and usage of mobile cranes in the country. Such statistics are essential for stakeholders in the industry, including manufacturers, investors, and policymakers, as they provide insights into market trends, competitiveness, and potential growth opportunities. The $2.4 billion estimate serves as a key metric for assessing the overall health and performance of the mobile crane sector in the U.S. for the specified period.
References
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4. – https://www.www.globenewswire.com
5. – https://www.www.marketsandmarkets.com
6. – https://www.www.alliedmarketresearch.com
