Mobile Crane Market to be Worth $9.82B by 2025

According to a report from Research and Markets, the global mobile crane market will grow at a CAGR of 2.16% from 2017 to 2025 and account for $9.82 billion in 2025.

Adoption of mobile cranes is also expected to accelerate due to expansion in cement plants and increased business potential of ship building/repair. Moreover, rising competition in the market is expected to further drive crane rental rates resulting in overall growth of mobile crane revenue share.

The general construction and transportation sectors on the other side are back into force with a large number of projects coming, which is expected to have a progressive impact on the mobile crane industry. Majorly developing economies contribute to this difference, where construction and retrofit markets are growing at a significantly higher pace.

The constantly growing population has resulted in increased investments in the infrastructure and construction sector of various economies. Also, government initiatives for up gradation of existing infrastructure of developed economies has resulted in increased demand for heavy construction machinery. Mobile cranes are extensively used in various applications including construction, oil and gas as well as shipping. Furthermore, increased investments in the construction of power plants has also influenced the market growth particularly in developing nations.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.