According to the research report titled ‘Global Mobile Cranes Market by Product Type (Truck mounted cranes, All-terrain Mobile cranes and Crawler Cranes), Application (Construction, Industrial, Utility). Regional Forecasting 2021-2027’, available with Market Study Report, global mobile cranes market is projected to witness significant expansion between 2021-2027.
 

Swift urbanization leading to development of infrastructure in various countries, coupled with growing opportunities for equipment manufacturing, and public-private partnerships are key factors driving global mobile cranes market growth.
 

For the unversed, mobile cranes are powerful machines utilized to move heavy materials at the worksite. They are either crawler type or tire-based. They have self-assembly feature which makes them ideal to be utilized in building sites and compact urban environment.
 

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The report also cites that innovative product launches by companies along with strategic acquisitions & partnerships have facilitated market expansion. Citing an example, Cargotec Oyj acquired Effer S.p.A. loader cranes business through its Hiab division in August 2018. The move increased the product offerings of Cargotec Oyj to include cranes which can lift more than 100 tones. 
 

On the other hand, mobile cranes cause more pollution and are harmful for the environment which is poised to hinder industry proliferation over the forecast timeframe.
 

Based on type, worldwide mobile cranes industry is divided into truck mounted cranes, crawler cranes, and all-terrain mobile cranes. Speaking of application scope, the market space is segmented into industrial, construction, and utility.
 

Regionally speaking, Asia Pacific held majority of global mobile cranes market share in the recent past due to growing construction activities in Japan, India and China. In 2018, the Asian Infrastructure Investment Bank invested USD 200 million to infrastructure growth in India through the National Investment & Infrastructure Fund. Moreover, the Indian government announced the ‘Bharatmala Pariyojana’ program in 2015 to develop road network & infrastructure in India. Meanwhile, North America market is projected to expand rapidly between 2021-2027, owing to growing construction plans & projects.  
 

Key players profiled in the global mobile cranes market report are Sarens, Bauer AG, The Manitowoc Company Inc., Manitex International Inc., Liugong Machinery Co. Ltd, Palfinger AG, Liebherr International Group AG, Sany Heavy Industry Co. Ltd., Kato Works Co. Ltd., and Kobelco Construction Machinery America LLC.