Mobile Crane Market Size, Share & Trends Analysis Report By Type (All-Terrain Cranes, Rough Terrain Cranes, Truck-Mounted Cranes, Crawler Cranes, Pick and Carry Cranes, Others), By Capacity (Less than 20 Tons, 20-100 Tons, 100-200 Tons, Above 200 Tons), By Applications (Construction, Oil & Gas, Ship Building, Power & Utilities, Others) and By Region(North America, Europe, APAC, Middle East and Africa, LATAM) Forecasts, 2025-2033

Mobile Crane Market Size

The global mobile crane market size was valued at USD 17.2 billion in 2024 and is projected to grow from USD 18.35 billion in 2025 to reach USD 30.83 billion by 2033, growing at a CAGR of 6.7% over the forecast period (2025-2033).

Mobile cranes are versatile, powerful machines designed to facilitate heavy lifting and material handling across a variety of industries, including construction, oil & gas, and shipbuilding. Unlike fixed cranes, mobile cranes are equipped with wheels or tracks, allowing them to be easily transported and set up on different job sites. This flexibility makes them essential for performing lifting operations in areas where traditional cranes cannot operate.

The market has grown from traditional heavy-duty lifting towards integrating automated controls, precision-based handling, and digital monitoring capabilities. These advancements provide industries with greater operational efficiency, enabling precision tasks in confined or challenging environments. Moreover, implementing IoT and real-time monitoring systems into crane operations has facilitated companies to experience significant improvements in safety, productivity, and overall project timelines.

Private investment in infrastructure projects in primary markets

Source: Global Infrastructure Hub and Straits Research Analysis

Global Mobile Crane Market Trends

Increasing demand for environmentally sustainable cranes

As environmental regulations become more stringent, there is a growing shift towards environmentally friendly mobile cranes. Manufacturers are increasingly developing hybrid and electric-powered cranes to reduce fuel consumption and lower emissions, aligning with the needs of eco-conscious industries. These innovations are crucial for sectors where sustainability is a key priority.

• For example, Liebherr’s LR 1200.1 unplugged is the world’s first battery-powered crawler crane, featuring an electric engine that delivers zero-emission operation and quieter performance. This makes it an ideal solution for urban environments where noise and pollution restrictions are critical.

Such advancements highlight the industry's commitment to reducing its environmental footprint while maintaining the performance and efficiency that industries rely on.

Mobile Crane Market Growth Factors

Rising construction and infrastructure projects

Urbanization and large-scale infrastructure projects are accelerating the global demand for mobile cranes. As cities expand and new mega-structures are built, cranes play a crucial role in lifting and transporting heavy materials. With significant government and private investments in smart cities, transport networks, and energy-efficient buildings, mobile cranes are vital to meet the demands of these complex projects.

• For example, the construction of smart cities in countries like India and the UAE, including the Dubai Creek Tower project, relies heavily on cranes for tasks like lifting and positioning large building materials.
• In the U.S., massive infrastructure projects like the rebuilding of bridges and highways under initiatives such as the Infrastructure Investment and Jobs Act also drive the need for versatile mobile cranes to handle diverse lifting tasks.

The increasing scale and complexity of modern cities and mega-projects ensure that mobile cranes remain an essential tool for construction and infrastructure development worldwide.

Restraining Factors

High initial costs and maintenance requirements

One of the primary factors restraining the global market is the high initial cost associated with purchasing these machines, coupled with their ongoing maintenance requirements. Mobile cranes typically require significant capital investment, with some models costing millions of dollars. Likewise, specialized maintenance and repairs, as well as the need for highly trained operators, contribute to the overall expense.

• For instance, the cost of a new mobile crane can range from $100,000 to over $1 million, depending on the type and specifications. These financial burdens are particularly challenging for small and medium-sized companies, limiting their ability to purchase or upgrade cranes and often making it difficult for them to establish a strong market presence.

Market Opportunities

Emergence of advanced safety features in crane operations

The global market is witnessing significant opportunities due to the emergence of advanced safety features in crane operations. With increasing safety regulations across industries, manufacturers are integrating state-of-the-art safety technologies to enhance operator protection and prevent accidents.

One prominent example is the introduction of Anti-Sway Control (ASC) systems, which prevent the load from swaying during operation, reducing the risk of accidents. Companies like Liebherr and Manitowoc are leading this innovation. Liebherr’s LTM 1650-8.1, for instance, features an integrated ASC system that increases safety while lifting heavy loads.

Another important safety feature is the use of Load Moment Indicators (LMI), which ensure cranes operate within safe load limits. These systems continuously monitor load weight and position, warning operators if the crane is at risk of tipping. Terex, a global leader in crane manufacturing, has equipped its Terex AC 1000 with advanced LMI technology, improving safety standards.

As safety concerns become more prominent in industries like construction and oil & gas, these advanced safety features offer significant growth potential in the global market.

Regional Insights

Asia-Pacific: Dominant Region with Significant Market Share

Asia Pacific held the highest revenue share in 2023 and is poised to maintain the fastest CAGR during the forecast period. This surge is driven by rapid construction activities in emerging economies like China, India, and the Philippines. In China, the demand for mobile cranes is soaring due to robust infrastructural development and the rise of manufacturing sectors.

Additionally, the Belt and Road Initiative (BRI) has significantly contributed to this growth, with over 140 countries collaborating with China to fund large-scale development projects. The BRI is boosting investments across economically diverse regions, further accelerating demand for mobile cranes. As construction and infrastructure projects expand in these nations, particularly in urban and industrial sectors, the region’s market dominance will continue to rise.

North America: Rapidly Growing Market

North America is experiencing substantial growth in the global market, fueled by investments across sectors like power and energy, construction, and shipbuilding. According to the Construction Management Association of America (CMAA), the region is set for significant infrastructure development, with increasing government funding for projects aimed at enhancing sustainability and environmental responsibility.

The United States, in particular, is investing heavily in bridges, roads, and eco-friendly commercial buildings, creating substantial opportunities for mobile crane manufacturers. Moreover, growing exports from the U.S. are supporting regional market expansion. With increasing demand from both infrastructure and shipbuilding projects, North America is expected to continue its strong growth trajectory in the mobile crane sector.

Country Insights

• United States: The U.S. leads the demand for mobile cranes in North America, driven by vast applications in the construction, oil, and gas sectors. Infrastructure development, alongside a shift towards renewable energy, is propelling market growth. For example, mobile cranes are crucial in wind turbine installation projects in states like Texas, where renewable energy production is expanding rapidly.
• Germany: Germany, a top mobile crane manufacturer, has a reputation for precision engineering, contributing to the high demand for cranes, particularly in the construction and energy sectors. The country’s focus on energy-efficient solutions has led to innovations like electric-powered mobile cranes, boosting market demand. The expansion of Germany's infrastructure projects, such as the development of new rail systems, requires reliable and efficient cranes.
• China: As one of the largest construction markets globally, China significantly influences the mobile crane industry. Rapid urbanization, infrastructure expansion, and massive projects like the Belt and Road Initiative require high-demand cranes. Projects such as the expansion of the Shanghai Port rely on mobile cranes for large cargo handling, underlining China’s crucial role in the global crane market.
• India: India’s mobile crane market is growing and is driven by infrastructure projects, including smart cities and rural development. The government's push for infrastructure, such as the construction of the new Delhi-Mumbai Expressway, increases demand for mobile cranes capable of heavy lifting. As the Indian government continues to invest in rural infrastructure and smart cities, the demand for advanced mobile cranes is expected to rise.
• Brazil: Brazil’s mobile crane market is mainly driven by its construction and mining sectors. Despite setbacks from an economic recession, infrastructure investments are helping the market recover. A prominent example is the construction of large-scale dams in the Amazon region, where mobile cranes are essential for lifting heavy machinery and materials.
• United Kingdom: In the UK, the global market thrives due to sustained demand in construction, particularly housing and commercial developments. The focus on sustainability is prompting manufacturers to create cranes that reduce environmental impacts. For instance, the HS2 high-speed rail project in the UK relies on mobile cranes to handle massive structures and equipment.
• Japan: Japan’s mobile crane market is marked by a focus on safety and precision. The need for renovation projects, particularly after natural disasters like the 2011 earthquake, creates steady demand for cranes. An example is the reconstruction of the Tohoku region, where mobile cranes play a critical role in rebuilding infrastructure, including bridges and roads.

Mobile Crane Market Segmentation Analysis

By Type

The all-terrain cranes segment dominates the global market with the largest market revenue due to their versatile application range, especially in the construction and energy sectors. These cranes are highly valued for their mobility and can travel on both highways and rough, off-road terrains, making them ideal for large-scale projects.

Their ability to handle complex terrain and heavy loads with ease ensures they are integral to megaprojects like bridges, dams, and skyscrapers. As infrastructure development accelerates worldwide, demand for all-terrain cranes, particularly from emerging markets, continues to grow significantly, ensuring their position as a market leader.

By Capacity

Above 200 tons segment leads in market share. The demand for high-capacity cranes, particularly those with a lifting capacity of 200 tons or more, has seen a notable rise due to the growing focus on renewable energy projects and large-scale industrial operations. These cranes are essential for handling massive loads involved in wind turbine installation, oil rig construction, and power plant setups.

The wind energy sector, for example, relies heavily on high-capacity cranes to assemble and install wind turbines at towering heights. As green energy projects expand globally, particularly in Europe, North America, and Asia, high-capacity cranes will remain in high demand for their unparalleled lifting ability.

By Applications

The construction segment dominates the market with the highest market revenue. The construction industry remains the largest application segment for mobile cranes, driven by rapid urbanization, infrastructure projects, and the growing demand for residential and commercial buildings. Mobile cranes are crucial for handling heavy materials, lifting equipment, and placing structural elements at significant heights, which are common in modern construction projects like high-rise buildings, bridges, and roads.

As megacities expand and large infrastructure projects increase, mobile cranes will play an even more vital role in ensuring timely project completion, with continued high demand across both developed and emerging markets.

Company Market Share

Leading players in the global market are focusing on innovation, strategic acquisitions, and partnerships to solidify their market presence and meet the increasing demand for technologically advanced cranes. Companies like Liebherr and Manitowoc are investing heavily in R&D to enhance crane performance with features such as automation, energy efficiency, and remote monitoring.

Manitowoc Cranes: An emerging player

While Manitowoc is an established player in the global market, the company continues to push the boundaries of innovation, particularly through its Grove line of cranes. Manitowoc is increasingly focusing on electric and hybrid technologies to meet the growing demand for sustainability within the industry.

This is evident in their introduction of the Grove GHC55 hybrid crane, which combines diesel power with electric capabilities, offering reduced fuel consumption and lower emissions. This aligns with global trends towards reducing the environmental impact of heavy equipment.

Recent Developments:

• In October 2024, Manitowoc announced a strategic partnership with SIA GOOD WORK to enhance crane repair services for its Grove mobile cranes in the Baltic region, specifically Latvia, Lithuania, and Estonia. Based in Riga, Latvia, SIA GOOD WORK will be responsible for servicing Grove all-terrain and rough-terrain cranes, ensuring that customers in these countries receive timely and efficient repairs.

Recent Developments

• July 2024 - The Indian Army inducted 40 heavy-duty hydraulic mobile cranes from Tractor India Limited, marking a significant enhancement in its operational capabilities. These advanced cranes are designed to improve the effectiveness of Combat Engineers, allowing them to execute challenging tasks efficiently. The new equipment will play a crucial role in various operations, including disaster management, by providing the necessary support for heavy lifting and engineering tasks.
• May 2024 - Port and Terminal Multiservices Limited (PTML), Nigeria's largest RoRo multipurpose terminal, made a significant investment by procuring an LHM 600 mobile harbor crane valued at over €7 million. This strategic acquisition is expected to enhance the terminal's operational efficiency and handling capacity, further supporting the growth of maritime logistics in the region. The LHM 600 crane will enable PTML to efficiently manage a variety of cargo, reinforcing its position as a key player in Nigeria's shipping industry.

Analyst Opinion

As per our analyst, the growth prospects for the mobile crane market are highly promising, driven by factors such as rapid urbanization, the expansion of renewable energy projects, and ongoing developments in the oil & gas sector. The increasing demand for cranes in these industries, alongside the rise of smart technologies in automation, safety, and remote monitoring, is expected to further fuel market growth.

Companies investing in electric and hybrid crane technologies, as well as advanced telematics systems, are well-positioned to capitalize on these trends. However, challenges remain, particularly with high upfront costs and the ongoing maintenance requirements associated with advanced mobile cranes. These factors could deter smaller companies or those in developing markets from adopting the latest technology.

Despite these obstacles, the overall growth trajectory of the sector remains positive. Governments across the globe are prioritizing infrastructure development and modernization, with investments in roads, bridges, and renewable energy projects offering consistent demand for mobile cranes.