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

Updated On: 08 April 2024

Autocrane Market Report Overview

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The global autocrane market size was USD 10580 million in 2022 and is projected to touch USD 17723.8 million by 2031, exhibiting a CAGR of 5.3% during the forecast period.

A crane could be auto or mobile based on the mechanism it uses. Mobile cranes are cable-controlled crane mounted on crawlers. They are designed such that it is easy to transport the cranes to places. They help with various types of loads and cargo with little or no assembly. Autocrane implies a lifting device incorporating a cable suspended latticed boom or hydraulic telescopic boom designed to be moves between operating locations by transport over the road. Whatever prime movers the designers have available drive the wire ropes using a variety of transmissions. They eventually added a hydrokinetic component, leading to controlled torque converters, when employing IC engines to match the steam engines "peak torque at zero speed" characteristic. The operational benefits of this configuration are attained through electronic control of hydrostatic drives, which is increasingly common due to size and other factors.

COVID-19 Impact: Infrastructure Restrictions Halt Market Growth

The global COVID-19 pandemic has been unprecedented and staggering, with autocrane market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The rise in CAGR is a byproduct of the autocrane market growth and demand returning to pre-pandemic levels once the pandemic is over.

COVID-19 had a life changing impact globally. The global autocrane market growth was significantly affected. The virus had various impacts on different markets. Lockdowns were imposed in several nations. This erratic pandemic caused disruptions on all sorts of businesses. Restrictions tightened during the pandemic due to increasing number of cases. Numerous Industries were affected. However, the market for autocranes experienced a downfall.

The global autocrane market share was severely affected adversely as the demand for cranes went down. This was caused by the halt of construction work during the pandemic. The complete lockdown and closure of construction work caused a major problem to the market. The companies that provide cranes on rental basis have seen a decline. Only a few companies did not suffer as much due the service categories they provided. However, in some countries the government provided support through investment in infrastructure. Meanwhile, some service providers received the essential services category so they were able to continue their work.

 LATEST TRENDS

"Technological Developments to Boost Market Growth"

According to Konecranes, autocranes are equipped with smart service panels allowing operators to identify and correct faults more swiftly. The crane analyzes its condition automatically and communicates it to the operator via the service panel. It also suggests precautionary measures and regular inspections. This helps the businesses make smarter maintenance decisions, thereby extending the lifecycle of the autocrane.

Crane has identified a technologically advanced control system. Control systems are the most important aspect of an autocrane; without them the machine would not function nor be safe. To replace expensive contactor tips, they have developed state-of-the-art AC/DC electronic controls. These are simple to use and meet the current operational needs. The present trend towards precision handling has led to a demand of simple, dependable and efficient controls. These technological advancements are a sure factor to assist the global autocrane market growth.

Autocrane Market Segmentation

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• By Type

Based on type, the market is divided into All Terrain Crane, Truck Crane, Trailer-Mounted Crane, Rough Terrain Crane, and Others. The all-terrain crane segment will dominate the global share through 2028.

• By Application

Based on application, the market is bifurcated into Construction, Industries, Utilities, and Others. the construction segment will capture the major market share over 2022-2028.

DRIVING FACTORS

"Demand for Compact Cranes to Augment Market Share"

New cranes that are being manufactured are much smaller. This directly reduces the need for expensive building renovations. Smaller autocranes are able to operate in smaller spaces. They are able to place the loads more precisely. They are also energy efficient. The new autocranes cycles energy back into the power grid which further mitigates warehouse energy consumption and costs. These factors are much more appealing to businesses in comparison to the older technology. Hence, it is a major market driver.

"Increasing Urbanization to Increase Need for Autocranes " 

Urbanization has a major development goal globally across continents. According to the United Nations, 55% of the world’s population resides in urban areas. But projections indicate there will be a gradual shift of the population from rural to urban areas. The population that resides in urban areas is expected to increase to 68% by 2050. As the population shifts, there would be a need for infrastructure. This would directly result in a hike for the global autocrane market.

RESTRAINING FACTORS

"High Investment Costs to Hamper Market Growth"

Maintenance and service costs of autocranes are expensive. This is due to the high costs of parts replacements and unavailability of service facilities across continents. In addition, high investments pose as an inconvenience to manufactures and consumers during the purchase of the equipment. However, there have been several accidents with these cranes which have turned fatal. Hence these factors are a major restraining factor for the global autocrane market growth.

Autocrane Market Regional Insights

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"Asia Pacific Dominates the Market as Major Manufacturer"

Asia Pacific countries are the largest market shareholder for autocranes. This is built upon factors such as huge investments of the governments in the developing countries. These investments are planned for large-scale infrastructure projects. Adding on to this, is the rising purchasing power of people, rapid urbanization and growing population in this region. Due to this, the government aims to provide an affordable standard of living for its citizens. Europe is the second largest shareholder in the global autocrane market.

KEY INDUSTRY PLAYERS

"Leading Players adopt Acquisition Strategies to Stay Competitive "

Several players in the market are using acquisition strategies to build their business portfolio and strengthen their market position. In addition, partnerships and collaborations are among the common strategies adopted by companies. Key market players are making R&D investments to bring advanced technologies and solutions to the market.

List of Market Players Profiled

• Xuzhou Construction Machinery Group [China]
• Zoomlion [China]
• Liebherr [Germany]
• Tadano [Japan]
• Manitowoc [U.S.]
• Sany [China]
• Terex [U.S.]
• Furukawa Electric [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 Manufacturing Corporation [U.S.]

REPORT COVERAGE

This research profiles a report with extensive studies that take into description of the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics changes.