Report : Asia Pacific Mobile Crane Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Crane Type (Truck Cranes, All-terrain cranes, Rough Terrain Cranes, Crawler Cranes, and Others) and Application (Construction, Oil and Gas, Shipping and Port Building, Power and Utilities, and Others)
Construction Segment to Dominate APAC Mobile Crane Market during 2020-2028
According to a new market research study on “APAC Mobile Crane Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Crane Type and Application” is expected to reach US$ 9,238.63 million by 2028 from 6,449.20 US$ million in 2021. The market is estimated to grow at a CAGR of 5.3% from 2021 to 2028. The report provides trends prevailing in the APAC mobile crane market along with the drivers and restraints pertaining to the market growth. Development of large intralogistics center in south-east Asia is the major factor driving the growth of the APAC mobile crane market. However, issues associated with high cost of manufacturing Including maintenance hinders the growth of APAC mobile crane market.
The APAC mobile crane market is analyzed on the basis of crane type, application, and country. Based on crane type, the market is segmented into truck cranes, all-terrain cranes, rough terrain cranes, crawler cranes, and others. The truck cranes segment held the largest market share in 2020. Based on application, the market is segmented into construction, oil & gas, shipping & port building, power & utilities, and others. The construction segment held the largest market share in 2020. Based on country, the market is segmented into Australia, China, India, Japan, South Korea, and the Rest of APAC.
KATO WORKS CO., LTD; Kobelco Construction Machinery Co., Ltd.; LIEBHERR-INTERNATIONAL; Sany Group; Sumitomo Heavy Industries Construction Cranes Co., Ltd.; Tadano Ltd.; Terex Corporation; The Manitowoc Company, Inc; Xuzhou Construction Machinery Group Co., Ltd; and Zoomlion Heavy Industry Science & Technology Co., Ltd. are among the leading companies in the APAC mobile crane market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2021, Zoomlion Heavy Industry Science &Technology Co., Ltd. was named a top 5 construction equipment manufacturer worldwide in the 2021 Yellow Table released on May 11th by the British Publisher KHL, with a total sale amount of 9.449 billion U.S. dollars.
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