The US, Canada, and Mexico are major economies in North America. The construction industry is growing and becoming more complex every day. According to the Texas Workforce Commission (US), the construction industry in the US is expected to grow at a CAGR of 27.8% from 2014 to 2024. Furthermore, with the implementation of new development plans and the subsequent beginning of projects, the use of construction equipment is increasing rapidly.
Tower cranes and mobile cranes are widely employed in the building sector. Tower cranes make it easier to lift and move raw materials and items during the construction of medium- to high-rise buildings. On the ground level, mobile cranes are required to transfer heavy building materials, such as cement bags, bricks, and iron beams. With the application of fundamental mechanics, cables, and hoists, these cranes can carry huge weights that are well beyond the capabilities of a human. Thus, such vital functions served by mobile cranes have increased their demand in the construction industry, driving the market.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the North America mobile crane market at a good CAGR during the forecast period.
The North America 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 the US, Canada, and Mexico. The US held the largest market share in 2020.
Furthermore, 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 North America mobile crane market.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 3,471.57 Million |
| Market Size by 2028 | US$ 4,073.90 Million |
| CAGR (2021 - 2028) | 2.3% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Crane Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Mobile Crane Market is valued at US$ 3,471.57 Million in 2021, it is projected to reach US$ 4,073.90 Million by 2028.
As per our report North America Mobile Crane Market, the market size is valued at US$ 3,471.57 Million in 2021, projecting it to reach US$ 4,073.90 Million by 2028. This translates to a CAGR of approximately 2.3% during the forecast period.
The North America Mobile Crane Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Mobile Crane Market report:
The North America Mobile Crane Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Mobile Crane Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Mobile Crane Market value chain can benefit from the information contained in a comprehensive market report.
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