Mobile Cranes Market Size To Reach $26.8 Billion By 2033

Mobile Cranes Market Growth & Trends

The global mobile cranes market size is expected to reach USD 26.8 billion by 2033, registering a CAGR of 6.6% from 2026 to 2033, according to a new report by Grand View Research, Inc. Strong emphasis on infrastructure development by various governments and the subsequent rise in the development of new infrastructure development and the refurbishment of the existing infrastructure across both developed and emerging economies are expected to drive the market. The continued deployment of mobile cranes across power projects, building construction projects, hydropower projects, aircraft manufacturing, and other applications in automotive and mining, among other industries and industry verticals, is anticipated to drive the demand for mobile cranes over the forecast period.

The growing preference for rental also bodes well for the growth of the market. The demand for new equipment from rental companies is growing as rental companies have realized that end customers prefer renting mobile cranes over-investing in new equipment of their own. The growing demand for new equipment from rental companies is expected to boost sales worldwide.

The outbreak of the COVID-19 pandemic has triggered an abrupt slowdown in construction activities, particularly owing to the various restrictions being imposed to arrest the spread of the disease and the ensuing financial challenges. For instance, in India, sales of construction equipment dropped 60% in Q1/2020. Nevertheless, the growing economic pressure is prompting governments worldwide to announce stimulus packages and consider resuming construction activity with limited capacity, which is particularly anticipated to fuel the market growth in 2021.

Asia Pacific accounted for the largest revenue share of 54.0% in 2019 and is anticipated to maintain its lead over the forecast period. Asia Pacific countries such as India, China, and Indonesia are putting a strong emphasis on infrastructure development to cope with the growing population. These countries are investing aggressively in developing the necessary infrastructure, including hospitals, schools, residential complexes, stadiums, government buildings, and airports, among other infrastructures. Japanese manufacturers such as Kato Works Co., Ltd., Sumitomo Heavy Industries Ltd., Kobelco Construction Machinery Co., Ltd., and Tadano Ltd. have been the key manufacturers in the market for decades.

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Mobile Cranes Market Report Highlights

• Increasing government inclination toward the use of renewable energy has emerged as a major growth catalyst for mobile cranes. Economies such as the U.S., China, the U.K., Germany, etc. are focused on wind farm construction in order to pursue carbon reduction targets and expand renewable energy capacity.

• The high procurement and operating costs associated with mobile cranes, changing requirements of customers, and varying compliance and specification requirements from region to region are some of the factors that are expected to restrain the growth of the market.

• Initiatives being pursued for upgrading the existing infrastructure are also driving the demand for mobile cranes. Several projects involving the refurbishment of the existing infrastructure are underway across the globe.

• The truck-mounted crane segment accounted for the largest revenue share of 62.6% in 2025. The rising demand for mobile machinery in power and utilities, construction, and other industries and industry verticals is expected to boost the growth of the segment.

• The construction segment held the largest revenue share of 51.9% in 2025. Continued residential and commercial infrastructure projects across the globe are expected to support the growth of the segment.

• Asia Pacific mobile cranes market accounted for a 54.2% largest share of the overall market in 2025.The mobile cranes industry in Asia Pacific is anticipated to grow at a CAGR of 7.0% during the forecast period.

Mobile Cranes Market Segmentation

Grand View Research has segmented the global mobile cranes market report based on product, application, and region:

Mobile Cranes Product Outlook (Volume, Thousand Units; Revenue in USD Million, 2021 - 2033)

• Truck Mounted Crane

• Trailer Mounted Crane

• Crawler Crane

Mobile Cranes Application Outlook (Volume, Thousand Units; Revenue in USD Million, 2021 - 2033)

• Construction

• Industrial

• Utility

Mobile Cranes Regional Outlook (Volume, Thousand Units; Revenue in USD Million, 2021 - 2033)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • Australia

  • South Korea

• Latin America

  • Brazil

• Middle East and Africa

  • Saudi Arabia

  • South Africa

  • UAE

List Of Key Players Mobile Cranes Market

• Bauer AG

• KATO WORKS CO., LTD.

• KOBELCO Construction Machinery Co., Ltd.

• Liebherr-International AG

• LiuGong Machinery Co., Ltd.

• Manitex International

• PALFINGER AG

• SANY HEAVY INDUSTRY INDIA PRIVATE LIMITED

• Sarens NV

• Sumitomo Heavy Industries, Ltd.

• Tadano Ltd.

• Terex Corporation

• XCMG GROUP

• Zoomlion Heavy Industry Science & Technology Co., Ltd.