Market Trends of All-Terrain Crane Industry
The Construction Segment is Driving the All-terrain Crane Market
According to the American Society of Civil Engineers, it will take approximately USD 4 trillion to repair the state of the US infrastructure by 2025. Furthermore, growth in the construction sector and the increase in investments in infrastructure development are expected to propel market growth. The adoption of all-terrain cranes is anticipated to accelerate due to the expansion of cement plants and the increased business potential of shipbuilding/repair.
Major players in the market are launching new all-terrain cranes with the latest technologies. For instance, in October 2023, Manitowoc launched its latest Grove crane models at the GIS Expo 2023, including the new Grove GRT8100-1 rough-terrain crane and five-axle Grove all-terrain cranes with Stage 5 Cummins engines, 12-47 meter full-power booms, optional MAXbase outriggers, and improved wider cabs for enhanced operator comfort.
In October 2023, Chinese manufacturer XCMG showcased its XCA130E, a 130-tonne capacity all-terrain crane designed for the European market, at the GIS exhibition in Piacenza, Italy. The crane features a 62-meter boom with a maximum length of 94.5 meters with extensions and has CE and Whole Vehicle Type Approval (WVTA) certification for sale EU-wide.
Furthermore, the growing competition in the construction market is expected to further drive the crane rental rates, resulting in the overall growth of all-terrain crane revenue share. Renting and leasing of all-terrain cranes are on the rise. Buying new equipment involves high cost, maintenance, and storage-related issues. Renting is becoming a viable possibility for newer businesses as well. In fact, for short-term construction applications, renting machinery has been preferable to a new purchase among construction contractors, as renting allows optimum utilization of the machinery.
Europe is the Leading the All-terrain Crane Market
The European all-terrain crane market has seen significant activity and growth, characterized by new product launches and strategic partnerships catering to diverse construction needs. Notably, Chinese manufacturer XCMG has made notable inroads into the European market. In October 2023, XCMG showcased its XCA130E, a 130-tonne capacity all-terrain crane, at the GIS exhibition in Piacenza, Italy. This model, launched in 2021, features a 62-meter boom and a maximum length of 94.5 meters with extensions. It has gained CE and Whole Vehicle Type Approval (WVTA) certification, allowing for EU-wide sales, and has already seen deliveries to several European countries, including Bulgaria and Spain.
According to the EU Cohesion Policy announced in 2023, around EUR 4 billion of EU funds will be invested in 25 large infrastructure projects in 10 Member States. The investment package will be distributed among Bulgaria, Czechia, Germany, Greece, Hungary, Italy, Malta, Poland, Portugal, and Romania. The investment covers a wide range of health, transport, research, environment, and energy-related projects. In April 2024, the first shipment of the 13-tonne 130 CR-130Rv city-type all-terrain cranes arrived in Germany. Three cranes were delivered to Mini & Mobile Cranes Körner and Baumo Kranservice, which share a yard in Duisburg.
