China mobile cranes market is estimated to grow at a CAGR of 6.2% during the forecast period. Some pivotal factors encouraging market growth include the rising industrialization and growth in the construction industry. Rising industrialization has been reported in the country owing to the Chinese government initiatives to promote industrialization. For instance, in May 2015, the Chinese government launched the Made in China (MIC) 2025 initiative which aims to enhance productivity and conduct advances in industrial processes. Under the initiative, the government of China is carrying out the operation of advancing infrastructure and leverage technological advances. 

This, in turn, is expected to boost the demand for mobile cranes in industrial infrastructure. These cranes are effortless to transport and are utilized for everything ranging from easier pick-up and delivery to long-term, large-scale hoisting operations. Mobile cranes can be utilized for the movement of rail-mounted distribution carriages accurately in the manufacturing and storage operations, such as for handling containers of raw and auxiliary materials. Therefore, the boost in the manufacturing sector is further anticipated to drive the market growth.

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 country. In October 2019, the National Development and Reform Commission (NDRC) approved 21 infrastructure projects, which valued a minimum of $107.8 billion. 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 crucial players in the market include Xuzhou Construction Machinery Group Co., Ltd. (XCMG), Liebherr-International AG, Konecranes, and Sany Heavy Industry Co., Ltd. To increase their market share, the market players are using strategies such as mergers and acquisitions and product launches. For instance, in July 2020, XCMG revealed and delivered the 750 ton XCA750 eight axle All Terrain crane which is designed particularly for repair and maintenance work of wind turbine. This new crane features a seven section 92 meter main boom, topped by a heavy-duty hydraulically erected wind turbine extension, which takes the maximum hook height to 115 meters at which it can handle up to 62 tons. 

Research Methodology

The market study of the China 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. China Mobile Cranes Market Research and Analysis by Product Type
2. China Mobile Cranes Market Research and Analysis by Application

The Report Covers

• Comprehensive research methodology of the China 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 China mobile cranes market.
• Insights about market determinants which are stimulating the China mobile cranes market.
• Detailed and extensive market segments with regional distribution of forecasted revenues.
• Extensive profiles and recent developments of market players.