Asia-Pacific mobile cranes market is estimated to grow at a CAGR of 6.7% during the forecast period. The market was valued at nearly $5.9 billion in 2019, which is estimated to reach nearly $9.2 billion in 2026. The major factors encouraging market growth include the advances in industrial infrastructure and rising investment in infrastructure projects. In October 2019, the National Development and Reform Commission (NDRC) approved 21 infrastructure projects, which valued a minimum of $107.8 billion. A sharp rise in the approval of infrastructure project signifies larger infrastructure spending in the future, supporting to stabilize China’s economy. Additionally, rising seaports are also accelerating the growth of infrastructure activities in the country.  

China's Belt and Road Initiative (BRI) development strategy is intended to establish connectivity and co-operation across six prime economic corridors encompassing China, Central, and West Asia; and: Mongolia and Russia; Pakistan; Eurasian countries; Indochina, and other countries of the Indian sub-continent. This leads to the increasing development of ports in the country, which in turn, drives the adoption of mobile cranes which is appropriate for not only inland ports, however, also large seaports. It can offer maximum material handling, which makes it suitable for use in ports. 

The market is segmented based on product type and application. Based on product type, the market is classified into the truck mounted crane, crawler crane, and trailer mounted crane. Based on application, the market is segmented into construction, industrial, and utility. Growth in the construction industry is supporting to drive the adoption of mobile cranes in the region. As per the India Brand Equity Foundation (IBEF), the Indian real estate market will grow to $9.3 billion by 2040 from $1.7 billion in 2019. The favorable demographic shift has also propelled the growth in the real estate sector. This leads to increasing demand for mobile cranes including tower cranes that are regarded as a new kind of balance crane. While fixed to the ground, this kind of crane will normally provide the best lifting and height capabilities. These cranes are also used while constructing tall buildings.

Some key players in the market include Liebherr-International AG, Tadano Ltd., Sumitomo Heavy Industries, Ltd., and Konecranes. The market players are using some key strategies to increase their market share. For instance, in August 2019, Tadano Ltd. acquired the Demag Mobile Cranes business, which will bring together two crucial companies in the lifting equipment industry. This will increase the capability of Tadano group to deliver a premier choice to its customers. It widens its penetration into several markets across the globe, adds lattice boom crawler cranes to its entire product range, and augments the capacity range of its all-terrain cranes.

Research Methodology

The market study of the Asia-Pacific mobile cranes market is incorporated by extensive primary and secondary research conducted by the research team at OMR.  Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.

Secondary Sources Include

• Financial reports of companies involved in the market.
• Whitepapers, research-papers, and news blogs.
• Company websites and their product catalog.

The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.

Market Segmentation

1. Asia-Pacific Mobile Cranes Market Research and Analysis by Product Type
2. Asia-Pacific Mobile Cranes Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the Asia-Pacific mobile cranes market.
• This report also includes a detailed and extensive market overview with key analyst insights.
• An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
• Analysis of regional regulations and other government policies impacting the Asia-Pacific mobile cranes market.
• Insights about market determinants which are stimulating the Asia-Pacific mobile cranes market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.