Market Research Report
European Mobile Cranes Market 2020-2026
|European Mobile Cranes Market 2020-2026|
Published: May 13, 2021
Orion Market Research Pvt Ltd
Delivery time: 2-3 business days
European Mobile Cranes Market Size, Share & Trends Analysis Report, By Product Type (Truck Mounted Crane, Crawler Crane, and Trailer Mounted Crane), By Application (Construction, Industrial, and Utility) and Forecast, 2020-2026
European mobile cranes market is estimated to grow at a CAGR of 4.9% during the forecast period. The market was valued at nearly $3.2 billion in 2019, which is estimated to reach nearly $4.5 billion in 2025. Growing construction spending and rising industrialization is supporting to drive market growth. As per the Office for National Statistics, UK, the construction output in the UK increased by 1.0% in the month-on-month all work series in October 2020. This monthly rise was significantly driven by the growth in all sectors, apart from private commercial and private new housing work. The growing focus on infrastructure activities is also driving the construction output in the country.
This is resulting in an increasing demand for mobile cranes that offer a range of benefits than fixed cranes. These cranes require little setup and can deal with a range of terrain and particular site concerns as well as they are easy to get to the job site. One of the major advantages of mobile cranes is the level of movability and flexibility, primarily in situations with several obstacles. These cranes can be used to access narrow sections and places with limited space, which makes it an appropriate solution for several job sites.
Geographically, the market is classified into the UK, Germany, France, Spain, Italy, and Rest of Europe. Germany's mobile cranes market is witnessing significant growth owing to the rising investment in construction activities. As per the Destatis, in 2019, the investment in construction industry have witnessed an increase of nearly $325 million over 2018 (+6.2%). This, in turn, is expected to drive the demand for the mobile crane that comprises hydraulic power and heavy-duty axles, which has the power required to lift heavy materials to needed heights in the most efficient safest way possible. As they require little setup time, the little cost is involved in the job rather than setting up larger scale cranes.
Some prominent players in the market include Liebherr-International AG, Tadano Ltd., Konecranes, and Bauer AG. The market players are using some key strategies to increase their market share. For instance, in October 2020, Liebherr revealed a 150-ton mobile crane with a 66-meter telescopic boom. After manufacturing nearly 1500 units, the company unveiled the successor to its successful LTM 1130-5.1 - the LTM 1150-5.3. With a larger lifting capacity of 150 tons and a 66-meter telescopic boom, this new crane is a potential addition to Liebherr's crane range below the 180-ton LTM 1160-5.2. It offers excellent lifting capacities while completely raised and at large radii. It can finish lots of jobs without any need for further ballast transport vehicles. This, in turn, saves money and time and makes it more valuable to crane contractors.
The market study of the European mobile cranes market is incorporated by extensive primary and secondary research conducted by the research team at OMR. Secondary research has been conducted to refine the available data to breakdown the market into various segments, derive total market size, market forecast, and growth rate. Different approaches have been worked on to derive the market value and market growth rate. Our team collects facts and data related to the market from different geography to provide a better regional outlook. In the report, the country-level analysis is provided by analyzing various regional players, regional tax laws and policies, consumer behavior, and macro-economic factors. Numbers extracted from Secondary research have been authenticated by conducting proper primary research. It includes tracking down key people from the industry and interviewing them to validate the data. This enables our analyst to derive the closest possible figures without any major deviations in the actual number. Our analysts try to contact as many executives, managers, key opinion leaders, and industry experts. Primary research brings the authenticity in our reports.
Secondary Sources Include
Financial reports of companies involved in the market.
Whitepapers, research-papers, and news blogs.
Company websites and their product catalog.
The report provides an in-depth analysis of market size, intended quality of the service preferred by consumers. The report will serve as a source for a 360-degree analysis of the market thoroughly integrating different models.
European Mobile Cranes Market Research and Analysis by Product Type
European Mobile Cranes Market Research and Analysis by Application
The Report Covers
Comprehensive research methodology of the European mobile cranes market.
This report also includes a detailed and extensive market overview with key analyst insights.
An exhaustive analysis of macro and micro factors influencing the market guided by key recommendations.
Analysis of regional regulations and other government policies impacting the European mobile cranes market.
Insights about market determinants which are stimulating the European mobile cranes market.
Detailed and extensive market segments with regional distribution of forecasted revenues.
Extensive profiles and recent developments of market players.