Rising Infrastructure Spending is Driving North American Mobile Cranes Market

North American mobile cranes market is estimated to grow at a CAGR of 6.1% during the forecast period. Growing infrastructure spending is reflecting positively on the market growth. As per the USA Facts, in 2019, the US Federal government invested $29 billion in infrastructure and transferred an additional $67 billion in infrastructure expenditure to the US states. This leads to increasing demand for mobile cranes that are gaining significance in the development of the cities’ infrastructure including sewage and water pipelines & treatment plants, seamless transportation by expressways, roads, flyovers, bridges, and a potential mass transit metro network, and electricity distribution utilities. 

Browse the full report description North American Mobile Cranes Market Size, Share & Trends Analysis Report, By Product Type (Truck Mounted Crane, Crawler Crane, and Trailer Mounted Crane), By Application (Construction, Industrial, and Utility) and Forecast, 2020-2026 at https://www.omrglobal.com/industry-reports/north-american-mobile-cranes-market

Additionally, the construction of an extremely divergent, modern infrastructure project that comprises multiple on-ground complexities, which includes project design. To gear up construction activities, contractors are using advanced machines including mobile cranes that can perform well in construction sites. These cranes can be used to access narrow sections and places with limited space, which makes it an appropriate solution for several job sites. The adoption of truck-mounted cranes has been gaining significance owing to the increasing railways and metro projects, road construction, expansion of refineries, and waterways. Therefore, the rising infrastructure spending is expected to drive the market growth.

Scope of the North American Mobile Cranes Market

Market Coverage

• Market number available for 2019-2026
• Base year- 2019
• Forecast period- 2020-2026
• Segment Covered- By Product Type and Application
• Regions Covered- US and Canada
• Competitive Landscape- Liebherr-International AG, Tadano Ltd., Terex Corp., Konecranes, and the Manitowoc Co., Inc.

Recent Strategic Initiatives in the North American Mobile Cranes Market

• In August 2020, Manitowoc has widened the utilization of its free diagnostic app to comprise its Potain tower cranes that deployed with the Crane Control System (CCS). Additionally, it has launched a new wireless pressure transducer test kit for the measurement and recording of hydraulic pressures on all crane systems. The new functionality supports actively improve digital tools and widen its offering to offer customers valuable and easy-to-use tools for a better user experience.
• In April 2019, Terex Corp. declared the sale of its truck crane, boom truck, and crossover product range to Load King, a subsidiary of Custom Truck One Source L.P. This acquisition will further widen offerings of Custom Truck One Source L.P for truck and heavy equipment solutions. 

Key questions addressed by the report

• What is the market growth rate?
• Which segment dominates the market in the base year?
• Which segment will project the fastest growth in the market?
• How COVID-19 impacted the market?

o Recovery Timeline

o Deviation from the pre-COVID forecast

o Most affected segment

• Who is the leader in the market?
• How players are addressing challenges to sustain growth?
• Where is the investment opportunity?

North American Mobile Cranes Market-Segmentation

By Product Type

• Truck Mounted Crane
• Crawler Crane
• Trailer Mounted Crane

By Application

• Construction
• Industrial
• Utility

North American Mobile Cranes Market– Segment by Country

• US
• Canada