Wheeled cranes, also known as mobile cranes, are transportable cranes mounted on crawlers or pneumatic tires, which provide maximum mobility and versatility for lifting heavy loads at construction sites. Their maneuverability allows them to work safely in confined spaces and uneven terrain. Some of the key advantages of wheeled cranes include ease of transport, ability to drive from one work location to another, and suitability for construction sites with limited space. The growing infrastructure development activities across the world along with rising construction of commercial and residential buildings are the major factors boosting the demand for wheeled cranes.

The Wheeled Crane Market is estimated to be valued at US$ 25.37 Bn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 To 2031.

Key Takeaways

Key players operating in the Wheeled Crane Market are Tadano Ltd, Liebherr Group, Terex Corporation, Xuzhou Construction Machinery Group Co., Ltd, Sany Heavy Industry Co. Ltd, Zoomlion Heavy Industry Science and Technology Co., Kobelco Construction Machinery Co., Ltd, Manitowoc Cranes, Link-Belt Cranes, Kato Works Co. Ltd, Palfinger AG, Manitex International, Sichuan Changjiang Electric Co. Ltd, Altec Inc., Elliott Equipment Company, Böcker Maschinenwerke GmbH, Tadano Faun GmbH, Broderson Manufacturing Corp., Mühlhäuser GmbH & Co. KG, SENNEBOGEN Maschinenfabrik GmbH. Tadano Ltd and Liebherr Group captured leading shares in the global wheeled crane market in 2023.

The growing construction spending on infrastructure development projects such as bridges, roads, dams, and urban development is propelling the demand for wheeled cranes. Additionally, rapid urbanization and rising investment in commercial construction are boosting the wheeled crane market.

Geographically, Asia Pacific dominated the global Wheeled Crane Market Growth in 2023 and is expected to continue its dominance over the forecast period. This can be attributed to the active involvement of China, India, and various Southeast Asian countries in large-scale infrastructure development projects. Moreover, growth in manufacturing and industrial sectors in these nations is driving the regional market.

Market drivers

Robust infrastructure development activities across major economies such as China, India, US, Germany are one of the key drivers of the wheeled crane market. Governments of various countries are heavily investing in development of roads, highways, bridges, airports, metro rail projects to boost economic growth. Additionally, rising construction of commercial buildings, hospitals, malls and other structures are augmenting the demand for wheeled cranes for material lifting and transportation. Furthermore, growing demand for wheeled cranes from oil & gas, mining, wind power and other industries for heavy lifting purposes is fueling the market growth.

Impact of current geopolitical situations on Wheeled Crane Market growth

The global Wheeled Crane market Trends is witnessing challenges due to the ongoing geopolitical tensions and conflicts across various regions. Heightened tensions between major economies like the US and China are disrupting global trade dynamics and supply chains. This is negatively impacting the availability of key components and parts for crane manufacturing. Additionally, the Russia-Ukraine conflict has further exacerbated issues related to rising costs of raw materials, fuel costs and supply bottlenecks. This is putting upward pressure on finished product prices in the wheeled crane market. The market players need to closely monitor the geopolitical developments and mitigate risks by diversifying their supplier networks, investing in local sourcing and developing alternative supply chain routes. Forward planning with respect to capacity additions and flexible procurement strategies will help deal with uncertainties in a volatile global environment. For sustainable long term growth, collaboration with regional partners can augment local manufacturing capacities while also catering to specific country/region requirements. Similarly, developing cost competitive products and optimizing operations will help market players gain market share despite macro headwinds. Overall, a proactive risk management approach considering geopolitical scenarios is crucial for market players in the coming years.

Geographical regions with high concentration of Wheeled Crane Market value

Europe currently dominates the global Wheeled Crane Market in terms of value, accounting for over 30% of the total market revenue as of 2024. Countries like Germany, UK, France, Italy have sizable construction industries utilizing wheeled cranes. Presence of major construction equipment manufacturers has also contributed to Europe’s large market share. Asia Pacific follows Europe with around 28% of global market value as of 2024. China alone accounts for over 15% share attributable to massive infrastructure development activities. Other Asian countries including India, Japan, South Korea are also significant markets undergoing rapid urbanization and industrialization. North America is the third largest region in terms of Wheeled Crane Market value supported by stable demand from the building and construction sectors in the US and Canada.

Fastest growing region in the Wheeled Crane Market

Asia Pacific region is poised to witness the fastest growth in the global Wheeled Crane Market during the forecast period between 2024 to 2031. This can be attributed to continued government investments and large scale projects pertaining to development of smart cities, transport infrastructure, industrial parks etc. across major Asian countries. China and India specifically are anticipated to drive the huge capital expenditures towards modernizing existing infrastructure as well as building new construction projects. This translates to increased demand for sophisticated material and heavy lifting equipment like wheeled cranes. Additionally, improving economic conditions are enabling Asian construction companies to invest in advanced technology powered heavy machinery. Overall factors like rapid urbanization, growing industrial and construction expenditures are fueling the fast expansion of the Wheeled Crane Market in Asia Pacific region compared to matured European and North American markets.

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