Wheeled Crane Market Size, Share, Growth, and Industry Analysis, By Type (Cross-country crane, All road crane), By Application (Petroleum chemical industry, Power infrastructure construction, Nuclear power plant, Bridges and subway, Other) and Regional Forecast to 2028

Updated On: 06 May 2024

WHEELED CRANE MARKET REPORT OVERVIEW

The global Wheeled Crane market size was valued at USD 15201.68 million in 2021 and is expected to expand at a CAGR of 4.52% during the forecast period, reaching USD 19814.63 million by 2027.

Wheeled cranes are mobile cranes mounted on wheels, allowing them to be easily moved and positioned on construction sites or other locations. They are commonly used for lifting and moving heavy loads in various industries, including construction, infrastructure development, and manufacturing.

The demand for wheeled cranes is closely tied to the growth of the construction industry. As construction projects increase in number and scale, the need for efficient and mobile lifting equipment like wheeled cranes also grows. Large-scale infrastructure projects, such as highways, bridges, and urban development, drive the growth of wheeled crane market. These projects often require versatile and mobile lifting solutions. Advances in crane technology, such as improved lifting capacity, safety features, and fuel efficiency, can impact the market. Buyers may prefer cranes with the latest technological features.

COVID-19 Impact: Market Growth Restrained by Pandemic due to Supply Chain Disruptions

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The pandemic has caused disruptions in global supply chains, affecting the production and delivery of construction equipment components, including those used in wheeled cranes.  Many construction projects were delayed or put on hold due to lockdowns, labor shortages, and other pandemic-related challenges. This directly impacted the demand for construction equipment, including wheeled cranes. The construction industry relies on a combination of on-site and off-site work. With lockdowns and restrictions in place, managing construction projects became more challenging, affecting the deployment and utilization of construction equipment.  Economic uncertainties and financial constraints have led to budget cuts in construction projects. This has, in turn, influenced the purchasing decisions of construction companies, impacting the demand for wheeled cranes.

LATEST TRENDS

"Technological Advancements to Drive Market Growth"

The crane industry, in general, has been adopting advanced technologies such as telematics, IoT (Internet of Things), and automation. These technologies enhance operational efficiency, safety features, and provide better data for maintenance. With a growing emphasis on sustainability, there might be an increasing demand for wheeled cranes that are designed with eco-friendly features, such as energy-efficient engines and materials. Customers often look for cranes with higher lifting capacities. Manufacturers may be developing cranes with stronger and lighter materials to achieve higher capacities without compromising on safety. Safety is a paramount concern in the construction industry. Newer wheeled cranes may come equipped with enhanced safety features, such as collision avoidance systems, improved stability controls, and advanced load monitoring. The trend towards remote-controlled or semi-autonomous operation might continue to grow. This allows operators to control the crane from a safe distance, improving overall safety on construction sites.

WHEELED CRANE MARKET SEGMENTATION

• By Type

Based on type the global market can be categorized into cross-country crane, all road crane.

Wheeled cranes are designed for use on roads or stable surfaces, while cross-country or all-road cranes are built to navigate more challenging terrains, including uneven or soft ground.

• By Application

Based on application the global market can be categorized into petroleum chemical industry, power infrastructure construction, nuclear power plant, bridges and subway, other.

Wheeled cranes are used for maintenance and repair work in petroleum and chemical facilities. In power infrastructure construction, these cranes are used to install and position utility poles for power lines. Cranes play a vital role in the construction of nuclear power plants by lifting and placing heavy components such as reactor vessels and steam generators. These cranes are used for building bridges, lifting and placing structural elements, and assisting in the assembly of bridge components.

DRIVING FACTORS

"Construction and Infrastructure Development to Boost the Market"

One of the key driving factors in the global wheeled crane market growth is the expansion of construction industry. As urbanization and infrastructure development projects continue to increase globally, there is a growing demand for wheeled cranes for tasks such as lifting heavy materials, placing structures, and facilitating construction activities. In many developed countries, there is a need for the replacement or renewal of aging infrastructure. This includes bridges, roads, and other structures that require the use of wheeled cranes for construction, maintenance, and repair.  The growth of industrial sectors, including manufacturing, petrochemicals, and energy, contributes to the demand for wheeled cranes. These cranes are essential for tasks such as equipment installation, material handling, and maintenance within industrial facilities.

"Oil and Gas Exploration and Production to Expand the Market"

The oil and gas industry often requires wheeled cranes for lifting heavy equipment during exploration, drilling, and production activities. The expansion of oil and gas projects globally can drive the demand for wheeled cranes. These cranes play a crucial role in port and shipyard operations, handling containers, loading and unloading cargo, and assisting in shipbuilding and repair activities. As international trade and shipping activities grow, so does the demand for wheeled cranes. The ongoing trend of urbanization leads to increased demand for construction and infrastructure development in urban areas. Wheeled cranes are necessary for various construction tasks in densely populated urban environments. Advancements in crane technology, such as improved lifting capacities, better fuel efficiency, and enhanced safety features, can drive the market by making wheeled cranes more attractive to buyers looking for efficient and advanced equipment.

RESTRAINING FACTOR

"High Costs to Impede Market Growth"

Wheeled cranes can be expensive to purchase and maintain. The high initial investment may deter some potential buyers. Beyond the upfront cost, operating and maintaining wheeled cranes can be costly. Fuel, maintenance, and skilled operators contribute to ongoing expenses. Strict regulations regarding the use of cranes, safety standards, and environmental concerns can pose challenges. Companies may need to invest in ensuring compliance, adding to the overall cost of operation.

WHEELED CRANE MARKET REGIONAL INSIGHTS

"Asia Pacific to Dominate in the Market due to Presence of a Large Consumer Base"

Asia Pacific has emerged as the most dominant region in the global wheeled crane market share due to several factors. The region, particularly China and India, have been major contributors to the construction and infrastructure development sectors. These countries have seen substantial economic growth and urbanization, leading to increased demand for construction machinery.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The wheeled crane market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in wheeled cranes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Krupp (Germany)
• TADANO (Japan)
• XCMG (China)
• Kobelco (Japan)
• LIEBHERR (Switzerland)
• KATO (Japan)
• TEREX-DEMAG (Germany)                  

INDUSTRIAL DEVELOPMENT

January 2022: Tadano introduced the GR-550EX, their biggest rough-terrain crane, in January 2022. Tadano's rough-terrain range is expanded with the 550-ton capacity model.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.