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Report
United States Mobile Crane Market Forecast 2024-2032
Market Report I 2024-10-12 I 146 Pages I Inkwood Research
KEY FINDINGS
The United States mobile crane market is expected to prosper at a CAGR of 6.28% over the forecast period of 2024-2032. The market was valued at $3012.14 million in 2023 and is expected to reach a revenue of $5205.58 million by 2032.
MARKET INSIGHTS
The United States commands the largest market share for mobile cranes in North America, largely fueled by its vast infrastructure industry and ongoing increases in construction spending. This market is projected to sustain its growth due to significant government initiatives and rising private sector investments in infrastructure development. The Bipartisan Infrastructure Law (BIL), enacted in 2021, represents a historic $1.2 trillion investment in American infrastructure over five years, focusing on repairing, rebuilding, and expanding critical infrastructure nationwide, which directly boosts the demand for mobile cranes.
The BIL emphasizes several key areas heavily reliant on mobile cranes for construction and installation. Roads and bridges are a major priority, requiring cranes to lift heavy construction materials, bridge beams, and pre-fabricated components. Modernization and expansion of public transit necessitate cranes for placing substantial elements like rail tracks and station structures. Additionally, airport upgrades demand cranes for lifting and maneuvering heavy equipment needed for runway construction, terminal expansions, and cargo facilities. Other infrastructure projects, including water infrastructure and renewable energy installations, will also heavily utilize mobile cranes, ensuring demand across all infrastructure development efforts.
In 2023, mobile cranes also saw notable demand for rescue operations following severe weather events. The United States recorded 28 weather and climate disasters that caused significant financial damage, including a $14.5 billion drought and heat wave in the Midwest and South and a $6 billion severe weather event in the South and East. Category 3 Hurricane Idalia's landfall in Florida's Big Bend region required mobile cranes for rescue and recovery operations.
Moreover, the United States leads the world in mobile crane imports due to various factors. Large-scale infrastructure projects and an emphasis on efficient construction methods drive high demand for cranes. Certain specialized mobile cranes may not be manufactured domestically, leading to imports to meet specific project requirements. This combination of robust construction activity, a preference for efficient practices, and the potential unavailability of some domestic options positions the US as the top global importer of mobile cranes.
SEGMENTATION ANALYSIS
The United States mobile crane market segmentation incorporates the market by terrain type, carrier type, and application. The terrain type segment is further differentiated into all terrain and rough terrain. All terrain cranes designed to operate on various surfaces, including dirt, asphalt, and uneven terrains, have become essential assets in the mobile crane market. These versatile construction machines can traverse different terrain types while maintaining high speeds on public roads, making them ideal for transportability and mobility without sacrificing off-road performance.
Several all terrain mobile cranes are available in the market, such as the Tadano AC 5.160-1. This versatile and cost-effective crane features a specialized counterweight configuration that enables efficient operations under a 12-tonne axle load limit, minimizing the need for additional transportation and simplifying permit acquisition. The combination of high mobility and adaptability to various job sites significantly boosts the market share of all terrain cranes within the broader mobile crane segment. Their ability to transition seamlessly between different terrains and applications enhances their value, making them a preferred choice across diverse industries, including construction, mining, wind energy, and utility projects.
Rough terrain in construction is defined as uneven, unpaved, and challenging environments that standard construction equipment struggles to navigate. This type of terrain often necessitates specialized equipment designed to handle such conditions effectively. Job sites frequently encountering rough terrain include mining sites, rural infrastructure projects, and disaster areas requiring rescue or cleanup operations. The cranes utilized in these challenging environments are known as rough terrain cranes.
Unlike all terrain cranes, rough terrain cranes are typically larger, heavier, and mounted on crawlers or larger wheels, providing superior grip and traction. Their increased size and weight translate into higher lifting and height capacities, but they are not suitable for self-propelled road transport due to safety regulations. Instead, they must be transported to job sites on larger carrier trucks.
The adoption of crawler mounts is prevalent in this segment, as they offer better traction compared to wheeled vehicles, making them particularly useful in mining operations. Technological advancements, such as telematics, GPS, and remote-control systems, are improving the efficiency and safety of rough terrain cranes. Further, companies like Liebherr are focusing on eco-friendly designs, driving the development of models with reduced emissions and improved fuel efficiency. Recent years have also seen the introduction of hybrid rough terrain cranes in the market. Moreover, large-scale infrastructure initiatives and government investments in rural development are expected to further boost the demand for rough terrain cranes in the coming years.
COMPETITIVE INSIGHTS
Some of the leading players in the United States mobile crane market are Manitex, Palfinger, Sumitomo Heavy Industries, etc.
Manitex International Inc is an American provider of engineered lifting solutions based in Bridgeview, Illinois. The company operates across various segments, including boom trucks, knuckle boom cranes, industrial cranes, and mobile tanks, catering to diverse industries such as construction, energy exploration, waste management, and industrial maintenance. Manitex International's product portfolio features an extensive range of boom trucks, specialized rough terrain cranes, truck-mounted hydraulic knuckle boom cranes, and precision pick-and-carry cranes. With a strong commitment to innovation and quality, the company has established itself as a significant player in the global lifting equipment market, focusing on enhancing customer value through a robust distribution network.
TABLE OF CONTENTS
1. RESEARCH SCOPE & METHODOLOGY
1.1. STUDY OBJECTIVES
1.2. METHODOLOGY
1.3. ASSUMPTIONS & LIMITATIONS
2. EXECUTIVE SUMMARY
2.1. MARKET SIZE & ESTIMATES
2.2. COUNTRY SNAPSHOT
2.3. COUNTRY ANALYSIS
2.4. SCOPE OF STUDY
2.5. CRISIS SCENARIO ANALYSIS
2.6. MAJOR MARKET FINDINGS
3. MARKET DYNAMICS
3.1. KEY DRIVERS
3.1.1. INCREASED DEMAND FROM RENTAL COMPANIES
3.1.2. RISE IN RENEWABLE ENERGY PROJECTS IS DRIVING DEMAND
3.1.3. RISE IN INFRASTRUCTURE SPENDING
3.2. KEY RESTRAINTS
3.2.1. LACK OF SKILLED OPERATORS
3.2.2. HIGH COST OF MAINTAINING CRANES
4. KEY ANALYTICS
4.1. PARENT MARKET ANALYSIS
4.2. KEY MARKET TRENDS
4.2.1. AMBITIOUS SUSTAINABILITY TARGETS ARE INCREASING DEMAND FOR ECO-FRIENDLY LIFTING SOLUTIONS
4.2.2. USE OF VIRTUAL REALITY IN ADVANCED TRAINING SIMULATORS
4.3. PESTLE ANALYSIS
4.3.1. POLITICAL
4.3.2. ECONOMICAL
4.3.3. SOCIAL
4.3.4. TECHNOLOGICAL
4.3.5. LEGAL
4.3.6. ENVIRONMENTAL
4.4. PORTER'S FIVE FORCES ANALYSIS
4.4.1. BUYERS POWER
4.4.2. SUPPLIERS POWER
4.4.3. SUBSTITUTION
4.4.4. NEW ENTRANTS
4.4.5. INDUSTRY RIVALRY
4.5. GROWTH PROSPECT MAPPING
4.5.1. GROWTH PROSPECT MAPPING FOR UNITED STATES
4.6. MARKET MATURITY ANALYSIS
4.7. MARKET CONCENTRATION ANALYSIS
4.8. VALUE CHAIN ANALYSIS
4.8.1. DEVELOPMENT AND TESTING
4.8.2. RAW MATERIAL SUPPLIERS
4.8.3. MANUFACTURING AND TESTING
4.8.4. DISTRIBUTION
4.8.5. RENTALS
4.9. KEY BUYING CRITERIA
4.9.1. LOAD LIFTING CAPACITY
4.9.2. LIFTING HEIGHT CAPACITY
4.9.3. MOBILITY AND SITE CONDITIONS
4.9.4. OWNERSHIP
5. MARKET BY TERRAIN TYPE
5.1. ALL TERRAIN
5.1.1. MARKET FORECAST FIGURE
5.1.2. SEGMENT ANALYSIS
5.2. ROUGH TERRAIN
5.2.1. MARKET FORECAST FIGURE
5.2.2. SEGMENT ANALYSIS
6. MARKET BY CARRIER TYPE
6.1. TRUCK MOUNTED
6.1.1. MARKET FORECAST FIGURE
6.1.2. SEGMENT ANALYSIS
6.2. CRAWLER MOUNTED
6.2.1. MARKET FORECAST FIGURE
6.2.2. SEGMENT ANALYSIS
6.3. TRAILER MOUNTED
6.3.1. MARKET FORECAST FIGURE
6.3.2. SEGMENT ANALYSIS
7. MARKET BY APPLICATION
7.1. CONSTRUCTION
7.1.1. MARKET FORECAST FIGURE
7.1.2. SEGMENT ANALYSIS
7.2. OIL AND GAS
7.2.1. MARKET FORECAST FIGURE
7.2.2. SEGMENT ANALYSIS
7.3. MANUFACTURING
7.3.1. MARKET FORECAST FIGURE
7.3.2. SEGMENT ANALYSIS
7.4. MARITIME APPLICATIONS
7.4.1. MARKET FORECAST FIGURE
7.4.2. SEGMENT ANALYSIS
7.5. WIND
7.5.1. MARKET FORECAST FIGURE
7.5.2. SEGMENT ANALYSIS
7.6. WOOD CUTTING AND FORESTRY
7.6.1. MARKET FORECAST FIGURE
7.6.2. SEGMENT ANALYSIS
7.7. OTHER APPLICATIONS
7.7.1. MARKET FORECAST FIGURE
7.7.2. SEGMENT ANALYSIS
8. COMPETITIVE LANDSCAPE
8.1. KEY STRATEGIC DEVELOPMENTS
8.1.1. MERGERS & ACQUISITIONS
8.1.2. PRODUCT LAUNCHES & DEVELOPMENTS
8.1.3. PARTNERSHIPS & AGREEMENTS
8.1.4. BUSINESS EXPANSIONS & DIVESTITURES
8.2. COMPANY PROFILES
8.2.1. CARGOTEC OYJ
8.2.1.1. COMPANY OVERVIEW
8.2.1.2. PRODUCTS
8.2.1.3. STRENGTHS & CHALLENGES
8.2.2. LIEBHERR GROUP
8.2.2.1. COMPANY OVERVIEW
8.2.2.2. PRODUCTS
8.2.2.3. STRENGTHS & CHALLENGES
8.2.3. MANITOWOC COMPANY INC
8.2.3.1. COMPANY OVERVIEW
8.2.3.2. PRODUCTS
8.2.3.3. STRENGTHS & CHALLENGES
8.2.4. MANITEX
8.2.4.1. COMPANY OVERVIEW
8.2.4.2. PRODUCT
8.2.5. PALFINGER
8.2.5.1. COMPANY OVERVIEW
8.2.5.2. PRODUCTS
8.2.5.3. STRENGTHS & CHALLENGES
8.2.6. SUMITOMO HEAVY INDUSTRIES
8.2.6.1. COMPANY OVERVIEW
8.2.6.2. PRODUCTS
8.2.6.3. STRENGTHS & CHALLENGES
8.2.7. TADANO LTD
8.2.7.1. COMPANY OVERVIEW
8.2.7.2. PRODUCTS
8.2.7.3. STRENGTHS & CHALLENGES
8.2.8. TEREX CORPORATION
8.2.8.1. COMPANY OVERVIEW
8.2.8.2. PRODUCTS
8.2.8.3. STRENGTHS & CHALLENGES
8.2.9. XUZHOU CONSTRUCTION MACHINERY GROUP CO LTD
8.2.9.1. COMPANY OVERVIEW
8.2.9.2. PRODUCTS
LIST OF TABLES
TABLE 1: MARKET SNAPSHOT - MOBILE CRANE
TABLE 2: UNITED STATES MOBILE CRANE MARKET, BY TERRAIN TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 3: UNITED STATES MOBILE CRANE MARKET, BY TERRAIN TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 4: UNITED STATES MOBILE CRANE MARKET, BY CARRIER TYPE, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 5: UNITED STATES MOBILE CRANE MARKET, BY CARRIER TYPE, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 6: UNITED STATES MOBILE CRANE MARKET, BY APPLICATION, HISTORICAL YEARS, 2018-2022 (IN $ MILLION)
TABLE 7: UNITED STATES MOBILE CRANE MARKET, BY APPLICATION, FORECAST YEARS, 2024-2032 (IN $ MILLION)
TABLE 8: LIST OF MERGERS & ACQUISITIONS
TABLE 9: LIST OF PRODUCT LAUNCHES & DEVELOPMENTS
TABLE 10: LIST OF PARTNERSHIPS & AGREEMENTS
TABLE 11: LIST OF BUSINESS EXPANSIONS & DIVESTITURES
LIST OF FIGURES
FIGURE 1: KEY MARKET TRENDS
FIGURE 2: PORTER'S FIVE FORCES ANALYSIS
FIGURE 3: GROWTH PROSPECT MAPPING FOR UNITED STATES
FIGURE 4: MARKET MATURITY ANALYSIS
FIGURE 5: MARKET CONCENTRATION ANALYSIS
FIGURE 6: VALUE CHAIN ANALYSIS
FIGURE 7: KEY BUYING CRITERIA
FIGURE 8: UNITED STATES MOBILE CRANE MARKET, GROWTH POTENTIAL, BY TERRAIN TYPE, IN 2023
FIGURE 9: UNITED STATES MOBILE CRANE MARKET, BY ALL TERRAIN, 2024-2032 (IN $ MILLION)
FIGURE 10: UNITED STATES MOBILE CRANE MARKET, BY ROUGH TERRAIN, 2024-2032 (IN $ MILLION)
FIGURE 11: UNITED STATES MOBILE CRANE MARKET, GROWTH POTENTIAL, BY CARRIER TYPE, IN 2023
FIGURE 12: UNITED STATES MOBILE CRANE MARKET, BY TRUCK MOUNTED, 2024-2032 (IN $ MILLION)
FIGURE 13: UNITED STATES MOBILE CRANE MARKET, BY CRAWLER MOUNTED, 2024-2032 (IN $ MILLION)
FIGURE 14: UNITED STATES MOBILE CRANE MARKET, BY TRAILER MOUNTED, 2024-2032 (IN $ MILLION)
FIGURE 15: UNITED STATES MOBILE CRANE MARKET, GROWTH POTENTIAL, BY APPLICATION, IN 2023
FIGURE 16: UNITED STATES MOBILE CRANE MARKET, BY CONSTRUCTION, 2024-2032 (IN $ MILLION)
FIGURE 17: UNITED STATES MOBILE CRANE MARKET, BY OIL AND GAS, 2024-2032 (IN $ MILLION)
FIGURE 18: UNITED STATES MOBILE CRANE MARKET, BY MANUFACTURING, 2024-2032 (IN $ MILLION)
FIGURE 19: UNITED STATES MOBILE CRANE MARKET, BY MARITIME APPLICATIONS, 2024-2032 (IN $ MILLION)
FIGURE 20: UNITED STATES MOBILE CRANE MARKET, BY WIND, 2024-2032 (IN $ MILLION)
FIGURE 21: UNITED STATES MOBILE CRANE MARKET, BY WOOD CUTTING AND FORESTRY, 2024-2032 (IN $ MILLION)
FIGURE 22: UNITED STATES MOBILE CRANE MARKET, BY OTHER APPLICATIONS, 2024-2032 (IN $ MILLION)
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