Rising Infrastructure Projects to Drive Mobile Crane Market’s Growth

1
Rising Infrastructure Projects to Drive Mobile
Crane Markets Growth Triton Market Research
presents the Global Mobile Cranes Market report
sectioned by Boom Type (Lattice Boom, Telescopic
Boom), Carrier Type (Wheel-mounted,
Track-mounted), Capacity (5 Tons, 21-20 Tons,
10-20 Tons, More Than 20 Tons), Terrain Type
(On-road, Rough-terrain, All-terrain), End- user
(Residential and Commercial Buildings,
Infrastructure, Manufacturing, Utilities),
Business Type (Original Equipment Manufacturing
(OEM), Aftermarket), and Regional Outlook (Middle
East and Africa, North America, Europe, Latin
America, Asia-Pacific). The report further
discusses the Market Summary, Industry Outlook,
Impact of COVID-19, Key Insights, Porters Five
Forces Analysis, Market Attractiveness Index,
Vendor Scorecard, Regulatory Framework, Key
Market Strategies, Drivers, Challenges,
Opportunities, Competitive Landscape, Research
Methodology Scope, Global Market Size,
Forecasts Analysis (2022-2028). Triton Market
Researchs report highlights that the global
mobile cranes market is anticipated to project
growth at a CAGR of 5.74 throughout the
forecasting period 2022-2028.
Request Free Sample Report https//www.tritonmark
etresearch.com/reports/mobile-cranes-marketreques
t-free-sample A mobile crane is a
hydraulic-powered equipment with a telescopic
boom on truck-type carriers or self-propelled
variations. They are designed to be easily
transported to a site and used with various load
and freight categories with little or no setup or
installation. Rising urbanization in emerging
nations has raised infrastructure spending and
the demand for related equipment devices.
Furthermore, implementing new development plans
and projects leads to increased utilization of
construction equipment. In the construction
business, tower and mobile cranes are often
employed. Tower cranes simplify lifting and
transporting raw materials
2
while constructing medium- to high-rise
buildings. On the ground level, mobile cranes are
required to transfer heavy building supplies such
as iron beams, cement bags, and bricks. Thus, the
rising infrastructure projects are anticipated to
supplement the mobile cranes markets
growth. However, mobile cranes require high
expenditures to maintain vital components such as
electrical contractors, pins, shafts, sheaves,
wire ropes, brakes, gears, locking, fasteners,
and mechanisms. Thus, the high cost of
maintenance of mobile cranes can act as a
challenge to the market. Asia-Pacific is
anticipated to be the fastest-growing market
globally. Growing government funding in
infrastructure and other strategic initiatives
are projected to boost the construction sector,
increasing demand for mobile cranes in the
region. In India, the market began to expand as
state governments and the central government
commenced large building projects such as metro
rail and Smart Cities. Furthermore, initiatives
such as the dedicated freight corridor are
expected to expand the construction industry,
creating a demand for mobile cranes. The
prominent players in the mobile cranes market
include Zoomlion Heavy Industry Science and
Technology Co Ltd, Kato Works Co Ltd, Liebherr
Group, The Manitowoc Company Inc, KOBELCO
Construction Machinery Co Ltd, Sumitomo Heavy
Industries Construction Cranes Co Ltd, Action
Construction Equipment, Cargotec Corporation,
Palfinger AG, Bauer AG, Terex Corporation, Xcmg
Construction Machinery Co Ltd, Tadano Ltd, Sany
Heavy Industry Co Ltd, and Xuzhou Construction
Machinery Group Co Ltd. In the construction
equipment industry, the competitive rivalry is
high. This is due to low switching costs from
buyers. Additionally, several prominent companies
are operating in India, competing based on quoted
prices amid high price sensitivity. All these
factors lead to high competition among market
players. Contact Us sales_at_tritonmarketresearch.c
om Phone [phone]