North America Mobile Crane Market – Growth, Trends, and Forecast (2020 - 2025)

The North America Mobile Crane Market is segmented by Type (Wheel-mounted Mobile Crane, Commercial Truck-mounted Crane, Side Boom, Straddle Crane, Railroad Crane, and Others), by Application type (Construction, Mining & Excavation, Marine & Offshore, Industrial Applications, and Others), and by Geography

Market Snapshot

Study Period:

2018-2024

Base Year:

2019

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Market Overview

The North America Mobile Crane Market is expected to register a CAGR of 6.13%.

After the global recession in 2009, the construction sector in North America showed a robust growth on account of the economic recovery and infrastructural developments. This led to the growth of construction and in turn, that of the dependent markets. However, the market has now started stabilizing, and it is anticipated that the market will grow at a slower pace compared to the growth over the last five years.

Government initiatives, such as Build America Investment Initiative, National Infrastructure Plan (NIP), Canada's Economic Action Plan, and others, are aimed at developing the infrastructure in the region through private investments. Increasing construction activities are expected to surge the demand for cranes in North America over the next five years. 

Scope of the Report

The North America Mobile Crane Marker report covers the growing demand for mobile cranes across the North American region, government regulations on cranes, the impact of mobile crane rental services, latest product developments and market shares of players operating across the mobile crane market. The scope of the report includes:

By Type
Wheel-mounted Mobile Crane
Commercial Truck-mounted Crane
Side Boom
Straddle Crane
Railroad Crane
Others
By Application Type
Construction
Mining & Excavation
Marine & Offshore
Industrial Applications
Others
Geography
North America
United States
Canada
Mexico
Rest of North America

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Key Market Trends

Growth of the Oil & Gas Industry in North America

The demand for new cranes used in oil and gas exploration machinery is poised to grow considerably over the forecast period. The oil & gas sector is shifting from established traditional reserves to more expensive and complicated oil & gas resources, such as shale and deep-water projects. Extraction from these non-conventional oil reserves requires a substantial application of sophisticated machinery and equipment, including cranes.

Usage of safe and efficient hauling cranes and tower cranes, primarily designed and constructed for the oil & gas industries, would drive the growth of these particular cranes. Offshore cranes are commissioned for assembly, repair, and supply of all oil & gas extraction systems. These cranes are mostly used on floating installations where larger boom lengths and higher loads are required. Modern manufacturers are also providing additional features to serve the oil & gas industry. For instance, knuckle boom crane (RL-K) offered by Liebherr is equipped with different pipe grabbers, capable of handling pipes and load manipulators.

The growth in the US oil and natural gas exploration and processing has been a standout in the global oil & gas market, and it offers significant growth potential during the forecast period. It is estimated that the oil & gas infrastructure in the country promises tremendous opportunity in the usage of cranes in the industry. There is an expected investment opportunity of more than USD 500 billion for gas and oil distribution upgrades, natural gas storage facilities, gas processing, and for rail investment. The industry is also expected to recover from the declining price trend, as it has been witnessing over the last two years, mainly due to the upturn in the demand-side dynamics of the market.

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Mexico Expected to Witness Increased Demand

In Mexico, the government has planned to invest in new highways, rail lines, and telecommunication infrastructure, as well as in the modernization of ports. It is expected to see an investment of USD 300 billion in infrastructure through the year 2018. Thus, the increasing construction activities are expected to steer the construction equipment market in the country. The growth is mainly driven by private investment. Owing to the low-interest rates on mortgage loans, increased funding for housing companies, and increased subsidies, the housing construction industry has seen a rebound.

The government has planned to invest in new highways, rail lines, and telecommunication infrastructure, and upgrade ports. It is expected to see an investment of USD 300 billion in infrastructure through 2018. Thus, the increasing construction activities are expected to steer the construction equipment market in the country.

The growth is mainly driven by private investment. Owing to the low-interest rates on mortgage loans, increased funding for housing companies, and increased subsidies, the housing construction industry has seen a rebound.

The uncertainty over NAFTA negotiations and the rise in protectionist tendencies from its northern neighbor is expected to restrain the growth of the construction sector, and consequently the mobile crane market.

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Competitive Landscape

Some of the leading players in the market are Tadano, Kobelco, Liebherr, and Terex. The key players successfully capitalized on the huge demand for reliable mobile cranes from big players in the construction and industrial sectors. Regarding tier-2 and tier-3 supply chains, supplying to small-medium-sized applications, the market is fairly fragmented with the presence of regional players. The big players have increased their R&D spending exponentially to integrate innovation with excellence in performance. Demand for high performance, highly efficient and safe handling equipment from the end market are expected to make the market more competitive and effectively dynamic during the forecast period.

Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Drivers

    2. 4.2 Market Restraints

    3. 4.3 Industry Attractiveness - Porter's Five Force Analysis

      1. 4.3.1 Threat of New Entrants

      2. 4.3.2 Bargaining Power of Buyers/Consumers

      3. 4.3.3 Bargaining Power of Suppliers

      4. 4.3.4 Threat of Substitute Products

      5. 4.3.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Type

      1. 5.1.1 Wheel-mounted Mobile Crane

      2. 5.1.2 Commercial Truck-mounted Crane

      3. 5.1.3 Side Boom

      4. 5.1.4 Straddle Crane

      5. 5.1.5 Railroad Crane

      6. 5.1.6 Others

    2. 5.2 By Application Type

      1. 5.2.1 Construction

      2. 5.2.2 Mining & Excavation

      3. 5.2.3 Marine & Offshore

      4. 5.2.4 Industrial Applications

      5. 5.2.5 Others

    3. 5.3 Geography

      1. 5.3.1 North America

        1. 5.3.1.1 United States

        2. 5.3.1.2 Canada

        3. 5.3.1.3 Mexico

        4. 5.3.1.4 Rest of North America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Vendor Market Share

    2. 6.2 Company Profiles

      1. 6.2.1 Konecranes PLC

      2. 6.2.2 Cargotec Corporation

      3. 6.2.3 Terex Corporation

      4. 6.2.4 Kobelco Cranes Co. Limited

      5. 6.2.5 Liebherr-International AG

      6. 6.2.6 Sumitomo Heavy Industries Construction Cranes Co. Ltd

      7. 6.2.7 Palfinger AG

      8. 6.2.8 Favelle Favco Group

      9. 6.2.9 Tadano Limited

      10. 6.2.10 Manitowoc Company, Inc

      11. 6.2.11 *List Not Exhaustive

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

** Subject to Availability

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