Auto Crane Market Size, Share, Growth, and Industry Growth, By Type (All Terrain Crane, Truck Crane, Trailer- Mounted Crane, Rough Terrain Crane, and Others), By Application (Construction, Industries, Utilities and Others), Regional Forecast To 2031

Updated On: 08 April 2024

Auto Crane Market REPORT OVERVIEW

• 
• Request Free Sample to learn more about this report

The global auto crane market size was USD 11420 million in 2022 and market is projected to touch USD 17866.8 million by 2031, exhibiting a CAGR of 5.1% during the forecast period.

The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

Auto crane means a lifting device incorporating a cable suspended latticed boom or hydraulic telescopic boom designed to be moved between operating locations by transport over the road. The most basic type of mobile crane consists of steel truss or telescopic boom mounted on a mobile platform, which may is wheeled (including “truck carriers”).

The growing demand for the auto crane market is expected to grow owing to numerous ongoing development projects such as metro, railway bridges, flyovers and others. The Government's efforts to boost industrial growth has generated a demand for the crane market. The crane market products are experiencing an increased demand from construction & energy sectors due to high material lifting capacities are expected to drive market development.

COVID-19 Impact: Implementation of Automated Technologies Has Anticipated A Spike in the Market

The COVID-19 has a huge effect on the global market with the imposed lockdown by the Government in most of the countries. The industries were shut down and they were forced to work remotely. There was a slow growth in the market affecting industries such as construction, energy, manufacturing and others. However, post-pandemic market has seen a spike in the adoption of technological advancements to reduce human intervention in production units has anticipated a growth in the crane market over a period of time. The utilization of technology including automated machinery and equipment during the pandemic has not only resulted in the continuity of the business but also increased the efficiency of manufacturing operations.

LATEST TRENDS

"Increase in Government and Private Investments to Expand Urbanization"

The global auto crane market growth is proposed to drive due to increase in investments into rapid urbanization by the way of project developments to provide better infrastructure facilities which are supporting the growth of the market. One of the reasons, the market is expected to have opportunities is expansion of various industrial sectors such as telecommunication, oil & gas mining, construction and others is gaining a demand for the auto cranes to enhance the performance and efficiency over the conventional approach. The Benefit of safety features by using the newly developed machines has an additional benefit to the demand of auto cranes. Such trend expansion of urbanization is expected to pose an opportunity for market growth during the forecast period.

Auto Crane Market SEGMENTATION

• 
• Request Free Sample to learn more about this report

• By Type

Based on type; the market is divided into all terrain cranes, truck cranes, trailer- mounted crane, rough terrain crane and others.

All terrain cranes are the leading part of the type segment.

• By Application

Based on application; the market is divided into construction, industries, utilities and others.

Construction is the leading part of the application segment.

RESTRAINING FACTORS

"Higher Initial Setup and Maintenance Cost to Hamper Product Demand"

High Initial Investments to procure the auto crane machines has discouraged several businesses and manufacturers in purchasing them. The maintenance and servicing cost after the installation is also high for the customer to bear. The unavailability of replacement parts in certain regions also causes an issue for the customer to procure them as the cost of replacement also spikes due to such restricted availability. Such factors are anticipated to restrict and limit the market growth. 

DRIVING FACTORS

"Rise in Global Population to Address the Demand of New Commercial and Residential Structures "

The global auto crane market growth is projected to develop due to surge in the demand for new commercial and residential structures. Rise in the global population and their urge towards sophisticated commercial structures and residential structures has led to the increase in the demand for auto crane machines to facilitate such demand. The development of the infrastructure and construction sector due to several projects is creating a high demand for these machines. Growing adoption of advanced constructions is anticipated to drive the market size and provide profitable opportunities for the market.

"High Intensity Capacity to Operate in All- Terrains and Weather Conditions to Inflate the Market Growth"

The All- Terrain Cranes are designed to work in various weather conditions. The crane market has a significant impact with the All- terrain cranes which are expected to capture substantial market share as the traditional lifting and construction equipment are being replaced by the all-terrain cranes. Due to their high capacity and intensity output to operate in unfavorable terrains and weather conditions are increasing the popularity of the machines in the new age construction which is anticipated to help their expansion of market growth in the forecast period.

Auto Crane Market REGIONAL INSIGHTS

• 
• Request Free Sample to learn more about this report

"Asia Pacific to Lead Market Owing to Urbanization"

Asia Pacific holds the largest part of the global auto crane market share due to expansion of infrastructure and utility sectors. Countries are anticipated to contribute maximum to facilitate the share of the market. The increase in the smart city developments are leading to a higher demand for the product. The huge investments from government and private and lower availability of labor is creating the demand for the product. Such factors are projected to drive the demand for the product. The development phase of many developing countries leads to urbanization which include development of commercial, residential, infrastructural, utilities and other factors are leading in the growth of market size.

KEY INDUSTRY PLAYERS

"Key Market Players to Contribute in Market Expansion"

The report is the dynamic collaboration of a list of key market players in the industry. The information is a research of all aspects affecting the industry factors along with technological innovations, mergers, acquisitions, product expansion, revenue forecasts and others. It mentions the market share geographically to understand the growth of the product in the global market. It also covers other aspects such as industries affecting the demand of the product, segment wise analysis and new adoptions in the product to strive for market demand.

List Of Market Players Profiled

• XCMG (China)
• Zoomlion (China)
• Liebherr (Switzerland)
• Tadano (Japan)
• Manitowoc (Brazil)
• Sany (China)
• Terex (U.S.)
• Furukawa (Japan)
• Manitex (U.S.)
• Sichuan Changjiang (China)
• Altec Industries (U.S.)
• Action Construction Equipment (India)
• Elliott Equipment (U.S.)
• Böcker Maschinenwerke (Germany)
• Liugong (China)
• Liaoning Fuwa (China)
• Broderson  (U.K.)

Report Coverage

The report consists of information with extensive research of the existing markets to the forecasted markets along with the recent technological advancements, product innovations and geographical market study. The research also covers the industry wise analysis and product wise analysis, trends, market size, market share, market growth, driving factors and restraints. This analysis can be changed subject to the dynamic changes in the industry as well as the market.