Mobile Crane Market

Market Definition

The market encompasses the production, sales, and services of mobile lifting equipment used in construction, transportation, shipping, and industrial applications. It includes various types, including all-terrain, rough-terrain, truck-mounted, and crawler cranes. 

The report presents a comprehensive analysis of key driving factors, emerging trends, and the competitive landscapeshaping market growth through the forecast period.

Mobile Crane Market Overview

The global mobile crane market size was valued at USD 14.09 billion in 2023 and is projected to grow from USD 14.99 billion in 2024 to USD 24.15 billion by 2031, exhibiting a CAGR of 7.05% during the forecast period. 

Market growth is driven by increasing infrastructure development, rapid urbanization, and rising construction activities worldwide. Governments and private sector investments in infrastructure, such as roads, bridges, airports, and commercial buildings, are fueling demand for efficient lifting solutions. 

The expansion of the energy sector, including wind farms and oil & gas projects, further boosts market growth. Technological advancements in telematics, automation, and hybrid-powered cranes are enhancing operational efficiency and safety, increasing buyer interest.

Major companies operating in the mobile crane industry are Liebherr Group, XCMG Group, Konecranes, The Manitowoc Company, Inc., Terex Corporation, Zoomlion Heavy Industry Science&Technology Co., Ltd., Tadano Ltd., SANY Group, Kobelco Construction Machinery Co., Demag Cranes & Components GmbH, PALFINGER AG, Link-Belt Cranes, SENNEBOGEN Maschinenfabrik GmbH, KATO WORKS CO., LTD., and Lanco Group.

The rise of modular construction and prefabricated buildings is highlighting the need for mobile cranes in material handling and assembly processes. Additionally, the logistics and shipping industries rely on mobile cranes for port handling operations, contributing to market expansion. 

With the growing emphasis on smart cities and mega projects across Asia, the Middle East, and North America, the market is set tot witness susbatntial expansion, supported by strong demand across multiple industries.

• In March 2025, Haji Hassan Cranes expanded its fleet by acquiring one LTM 1160-5.2 and two LTM 1090-4.2 mobile cranes from Liebherr. The investment aims to modernize the company's fleet and enhance its capability to support infrastructure projects across Bahrain. Known for their reliability and advanced technology, these cranes will be deployed in various sectors, including oil refineries, steelworks, petrochemical plants, and general construction.

Key Highlights:

1. The mobile crane industry size was valued at USD 14.09 billion in 2023.
2. The market is projected to grow at a CAGR of 7.05% from 2024 to 2031.
3. Asia Pacific held a share of 40.12% in 2023, valued at USD 5.65 billion.
4. The 100-200 tons segment garnered USD 5.65 billion in revenue in 2023.
5. The truck-mounted crane segment is expected to reach USD 7.87 billion by 2031.
6. The construction & infrastructure segment is estimated to generate a revenue of USD 9.97 billion by 2031.
7. North America is anticipated to grow at a CAGR of 7.22% over the forecast period.

Market Driver

Infrastructure Expansion and Industrialization

The market is experiencing significant growth, driven by expanding infrastructure projects and increasing industrialization. Rapid urbanization and large-scale developments in sectors such as construction, energy, and heavy industries are fueling demand for high-capacity and versatile mobile cranes. 

Governments worldwide are investing in smart cities, transportation networks, and industrial expansion, requiring advanced lifting solutions to support complex engineering and construction projects. The rise of prefabricated construction methods further boosts this demand, as mobile cranes are crucial for assembling modular structures with precision and efficiency.

Additionally, the growing oil & gas, mining, and renewable energy sectors are contributing to the increasing demand for mobile cranes. The extraction and processing of natural resources require cranes with high load capacities and advanced maneuverability to operate in challenging environments such as offshore platforms, mining sites, and refineries. 

Moreover, the expansion of wind farms and solar power plants is generating demand for mobile cranes capable of lifting heavy components for renewable energy installations. As industries evolve, mobile cranes remain essential for supporting large-scale projects that contribute to economic growth.

• In February 2025, SSAB and Fassi announced a partnership for the future supply of fossil-free steel for cranes. The collaboration includes SSAB’s Strenx steel, SSAB Fossil-free steel, and SSAB Zero steel, aiming to reduce the carbon footprint of Fassi’s hydraulic and truck-mounted cranes.

Market Challenge

High Operational Costs and Maintenance Complexity

A major challenge hindering the expansion of the mobile crane market is the high operational costs and maintenance complexity associated with these machines.These high-value assets require regular servicing and frequent repairs, placing a financial burden on companies. 

Costs related to fuel, spare parts, and specialized labor are particularly high for large and high-capacity cranes with complex hydraulic and mechanical systems. Additionally, operation in demanding environments  accelerates wear and tear, increasing the need for component replacements and repairs.

To mitigate these challenges, industry players are adopting technology-driven solutions. The integration of telematics and remote monitoring systems allows companies to track crane performance in real-time, predict mechanical issues before they become critical, and optimize maintenance schedules to prevent unexpected failures. These predictive maintenance strategies reduce downtime and repair costs, enhancing efficiency.

Market Trend

Integration of Smart Crane Technologies and Eco-Friendly Innovations

A major trend influencing the market is the integration of smart crane technologies, including telematics, automation, and remote monitoring systems. 

These innovations enhance operational efficiency, improve safety, and enable predictive maintenance, reducing downtime and optimizing fleet management. Additionally, advanced features such as variable outrigger positioning and real-time load monitoring are improving performance in complex lifting scenarios.

Furthermore, the growing emphasis on eco-friendly crane solutions is emerging as a key trend. With stricter environmental regulations and a global shift toward sustainability, manufacturers are focusing on low-emission and energy-efficient cranes. Hybrid and fully electric mobile cranes are gaining traction, reducing fuel consumption and carbon emissions while enhancing cost-efficiency. 

Additionally, the incorporation of lightweight yet high-strength materials in crane manufacturing is improving lifting performance while minimizing environmental impact. As the industry prioritizes greener technologies, the demand for energy-efficient and emission-reducing mobile cranes is expected to rise.

• In July 2024, Hiab, a part of Cargotec, launched the HIAB eX.HIPRO crane, introducing advanced technology f that cut fuel consumption and CO2 emissions by up to 30%. EV-compatible and environmentally friendly, the crane integrates the SPACEevo control system and Olsbergs V200 valve for enhanced precision, speed, and simultaneous movements, improving productivity.

Mobile Crane Market Report Snapshot

Segmentation	Details
By Lifting Capacity	Below 100 Tons, 100-200 Tons, 200-500 Tons, Above 500 Tons
By Crane Type	Truck-Mounted Crane, All-Terrain Cranes, Rough Terrain Cranes, Crawler Cranes
By Application	Construction & Infrastructure, Oil & Gas, Mining & Heavy Industry, Shipping & Logistics, Renewable Energy, Others
By Region	North America: U.S., Canada, Mexico
	Europe: France, UK, Spain, Germany, Italy, Russia, Rest of Europe
	Asia-Pacific: China, Japan, India, Australia, ASEAN, South Korea, Rest of Asia-Pacific
	Middle East & Africa: Turkey, UAE, Saudi Arabia, South Africa, Rest of Middle East & Africa
	South America: Brazil, Argentina, Rest of South America

Market Segmentation

• By Lifting Capacity (Below 100 Tons, 100-200 Tons, 200-500 Tons, and Above 500 Tons): The 100-200 tons segment earned USD 5.65 billion in 2023 due to its versatility in handling mid-sized construction projects, infrastructure development, and industrial applications.
• By Crane Type (Truck-Mounted Crane, All-Terrain Cranes, Rough Terrain Cranes, and Crawler Cranes): The truck-mounted crane segment held a share of 34.76% in 2023, attributed to its mobility, ease of transportation, and widespread use in urban construction and logistics.
• By Application (Construction & Infrastructure, Oil & Gas, Mining & Heavy Industry, Shipping & Logistics, Renewable Energy, and Others): The construction & infrastructure segment is projected to reach USD 9.97 billion by 2031, propelled by increasing global investments in smart cities, commercial buildings, and large-scale infrastructure projects.

Mobile Crane Market Regional Analysis

Based on region, the global market has been classified into North America, Europe, Asia Pacific, Middle East & Africa, and Latin America.

Asia Pacific mobile crane market accounted for a substantial share of 40.12% in 2023, valued at USD 5.65 billion. This dominance is reinforced by large-scale infrastructure development projects in China, India, and Southeast Asia. 

Government initiatives, such as China’s Belt and Road Initiative and India’s Smart Cities Mission, are increasing the demand for mobile cranes in transportation, railways, highways, and commercial construction.

Additionally, the rapid expansion of the renewable energy sector, particularly in wind power projects across China and India, is leading to a strong demand for heavy-lifting equipment. The presence of major crane manufacturers in Japan and China, along with lower production costs, further supports regional market expansion.

Additionally, Asia Pacific is a global manufacturing hub for mobile cranes, with companies such as XCMG, SANY, and Tadano producing high-quality, cost-effective equipment.

North America mobile crane industry is expected to register the fastest CAGR of 7.22% over the forecast period. This growth is fueled by rising investments in infrastructure modernization, particularly in the U.S. and Canada. 

The U.S. government’s substantial infrastructure funding is creating a robust demand for mobile cranes in rebuilding highways, bridges, and airports. In Canada, large-scale construction projects, including commercial real estate developments and hydroelectric power plants, are fueling regional market growth.

Additionally, the rising adoption of modular and prefabricated construction methods in both countries is increasing reliance on mobile cranes for quick and efficient assembly. The region's energy sector is contributing significantly to this growth, with on-going investments in oil sands, LNG facilities, and offshore wind farms in the Gulf of Mexico and the Atlantic coast. 

Technological advancements, such as the integration of telematics and autonomous features in cranes, are further enhancing operational efficiency, making North America a key market for mobile cranes.

• In January 2025, Tadano Ltd. completed the acquisition of Manitex International, making it a wholly owned subsidiary. The move aligns with Tadano’s strategy to expand its global presence in the lifting equipment industry by integrating Manitex’s mobile truck cranes, knuckle boom cranes, small electric cranes, and aerial work platforms. The acquisition also includes five engineering and manufacturing facilities across North America and Europe, as well as Rabern Rentals.

 Regulatory Frameworks

• In the United States, mobile cranes are regulated by the Occupational Safety and Health Administration (OSHA) for construction safety, the American National Standards Institute (ANSI) for operational standards, and the Environmental Protection Agency (EPA) for emissions under the Clean Air Act.
• In the European Union, mobile cranes must comply with the Machinery Directive for safety . The European Chemicals Agency (ECHA) enforces emissions and material restrictions under REACH (Registration, Evaluation, Authorisation and Restriction of Chemicals).
• In China, the State Administration for Market Regulation (SAMR) enforces safety standards, while the Ministry of Ecology and Environment (MEE) regulates emissions.
• In Japan, mobile cranes fall under the Industrial Safety and Health Act, enforced by the Ministry of Health, Labour and Welfare (MHLW), and must comply with Japan Industrial Standards.
• In India, the Bureau of Indian Standards (BIS) sets safety guidelines and the Directorate General of Mines Safety (DGMS) regulates crane safety in mining operations.

Competitive Landscape

The mobile crane market is characterized by key players focusing on technological advancements, strategic partnerships, and regional expansion to strengthen their market position. Manufacturers are heavily investing in automation, telematics, and hybrid power solutions to enhance crane efficiency, safety, and sustainability. 

The integration of IoT-based remote monitoring systems is becoming a standard feature, allowing real-time diagnostics and predictive maintenance to minimize downtime.

Companies are further expanding their production facilities and distribution networks, particularly in high-growth regions such as Asia Pacific and North America, to meet rising demand. Strategic collaborations with construction firms, infrastructure developers, and energy companies have become a key approach to securing long-term contracts. 

Additionally, rental services are gaining traction as companies seek to cater to the growing preference for equipment leasing over direct purchases. In response to evolving industry needs, players are launching versatile, multi-application cranes that can operate in diverse terrains, enhancing their competitive edge.

• In March 2025, Grupo Modesto, S.A. acquired two new Liebherr mobile cranes,  LTM 1150-5.3 and LTM 1230-5.1, to support industrial construction in Santo Domingo. The reflects a market shift in the Dominican Republic toward new crane purchases, fueled by growing demand for high-capacity lifting solutions. The cranes incorporate advanced technologies, including VarioBase and VarioBallast, enhancing safety and efficiency in constrained job sites.

List of Key Companies in Mobile Crane Market:

• Liebherr Group
• XCMG Group
• Konecranes
• The Manitowoc Company, Inc.
• Terex Corporation
• Zoomlion Heavy Industry Science&Technology Co., Ltd.
• Tadano Ltd.
• SANY Group
• Kobelco Construction Machinery Co.
• Demag Cranes & Components GmbH
• PALFINGER AG
• Link-Belt Cranes
• SENNEBOGEN Maschinenfabrik GmbH
• KATO WORKS CO., LTD.
• Lanco Group

Recent Developments (New Product Launches)

• In March 2025, Bäsmann Kran- und Transport GmbH expanded its fleet with the addition of a Liebherr LTM 1060-3.1 mobile crane, replacing an aging 60-tonne unit. This acquisition signifies the company's renewed partnership with Liebherr after three decades, influenced by the crane’s extended boom, compact design, and cutting-edge features such as VarioBase and wireless remote operation.
• In October 2024, SANY delivered the world's first 9-axle, 4,000-tonne all-terrain crane, the SAC40000T, to a Chinese hoisting company. Designed for next-generation wind turbine installation, the crane features an 81m main boom, a 124m jib, and a maximum lifting height of 200m. With a compact a compact design, 16m steering radius, and advanced safety systems, the SAC40000T sets a new standard in high-capacity mobile lifting solutions.