This is an overview of the global utilities mobile cranes market, which is projected to have a large market size by 2027 with a high compound annual growth rate (CAGR) during the forecast period. The demand for these cranes in commercial and public applications is rising due to changing market trends, which are expected to drive industry and market growth.
Utilities mobile cranes are multipurpose vehicles with the ability to tow multiple loaded wagons and can be equipped with various attachments. Demand for these cranes is expected to rise at a considerably high rate due to extensive use in infrastructure development projects and large-scale public sector projects, such as oil gas, power, and utility projects. Advancements in technology and automation, along with machine safety, are also projected to drive market growth.
Crawler utilities mobile cranes are extensively used in the commercial sector and are expected to contribute to the growth of this market segment in the near future. However, the rising adoption of used and rental cranes is expected to limit sales of new utilities mobile cranes in the next few years.
The Asia Pacific market accounts for the largest revenue share in the global utilities mobile cranes market, with a significantly higher revenue contribution from China and Japan. The report also provides a detailed overview of key players operating in this market, including Liebherr, Tadano, Manitowoc, XCMG, and Terex, among others.
The report highlights the segmentation of the utilities mobile cranes market based on type (crawler cranes, all-terrain cranes, truck-mounted cranes, trailer-mounted cranes, and others) and application (commercial and public). It also provides an evaluation of the market based on historical, present, and projected data in terms of volume and value. Additionally, the report covers recent trends and developments, competitive landscape, and strategies adopted by key players.
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Utilities Mobile Cranes Market: Drive factors
The growth of the Utilities Mobile Cranes market is primarily driven by the extensive use of these cranes in various sectors, such as oil and gas, power projects, and utility projects. Utility companies require these cranes at their construction sites and yards, which leads to an increase in demand. Additionally, the rise in investments in infrastructure development projects and large-scale usage of utilities mobile cranes in the public sector are also expected to drive the demand for these cranes over the forecast period. Furthermore, advancements in technology and rising emphasis on automation and machine safety are other factors projected to drive market growth over the forecast period. However, the rising adoption of used and rental cranes is expected to restrain growth in sales of new utilities mobile cranes in the next few years.
Utilities Mobile Cranes Market: Notable innovation
One notable innovation in the Utilities Mobile Cranes market is the development of hybrid mobile cranes. These cranes use a combination of electric and diesel power, which leads to a reduction in fuel consumption and emissions, resulting in a more environmentally friendly solution. Additionally, the use of advanced control systems and sensors in mobile cranes has improved their efficiency and safety. Another innovation is the development of telematics systems in mobile cranes, which enable real-time monitoring of the crane's performance, location, and maintenance needs, leading to better fleet management and cost savings. Furthermore, manufacturers are focusing on developing compact and versatile mobile cranes that can handle a range of applications while being more maneuverable and space-efficient.
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