Rough Terrain Crane Market Size - By Capacity (Upto 25 Ton, 26 Ton – 74 Ton, 75 Ton – 100 Ton, Above 100 Ton), By Application (Construction, Utilities), Growth Drivers, Regional Insights & Global Forecast 2023 – 2032
Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationRough Terrain Crane Market Size - By Capacity (Upto 25 Ton, 26 Ton – 74 Ton, 75 Ton – 100 Ton, Above 100 Ton), By Application (Construction, Utilities), Growth Drivers, Regional Insights & Global Forecast 2023 – 2032
Rough Terrain Crane Market Size
Rough Terrain Crane Market size was valued at USD 7.4 billion in 2022 and will grow at a CAGR of over 6% between 2023 to 2032, owing to government investments and initiatives focused on infrastructure improvement. Government initiatives, especially in developing countries, to improve infrastructure and boost economic growth create a favorable environment for the rough terrain crane business.
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Rapid urbanization and industrial growth in emerging economies fuel the demand for construction equipment like rough terrain cranes for various projects. As the urban population continues to progress, there has been a commendable surge in demand for housing and commercial facilities. According to UN-Habitat, global city population share is expected to increase to 58% gradually by 2070 from about 50% in 2020. Also, the number of cities in low-income economies will rise by 76% between 2020 and 2070. The growth rate will stand at 20% and 6% for lower-middle-income and upper-middle-income countries, respectively.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Rough Terrain Crane Market Size in 2022 | USD 7.4 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 6% |
| 2032 Value Projection | USD 13.2 Billion |
| Historical Data for | 2018 – 2022 |
| No. of Pages | 250 |
| Tables, Charts & Figures | 203 |
| Segments covered | Capacity, Application |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
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Moreover, the operation of heavy machinery like rough terrain cranes is subject to stringent regulatory standards and environmental regulations, especially in urban areas and sensitive ecosystems. Compliance with these standards can add to the operating costs and limit their use in certain locations. Besides, these cranes are specialized, and robust machines designed for challenging terrains, which makes them expensive to manufacture and purchase. The high initial investment can deter potential buyers, particularly small and medium-sized construction companies, impacting the rough terrain crane market growth.
COVID-19 Impact
The COVID-19 pandemic had a mixed impact on the rough terrain crane market. On the one hand, construction projects were disrupted, and demand decreased as lockdowns and restrictions were imposed in many regions. However, on the other hand, there was an increased need for infrastructure development and disaster relief efforts during the pandemic, which drove the demand for rough terrain cranes. For instance, in areas where hospitals and temporary medical facilities were constructed rapidly to deal with the surge in COVID-19 cases, rough terrain cranes played a crucial role in lifting heavy materials and equipment.
Rough Terrain Cranes Market Trends
Rough terrain cranes play a vital role in disaster relief and rescue operations, assisting in natural disasters and emergencies. Besides, the increasing usage of these construction equipment for handling heavy cargo in ports and shipyards, where their mobility and lifting capabilities are advantageous, will propel market growth.
Rough Terrain Crane Market Analysis
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Rough terrain cranes are like the superheroes of the construction world, taking on tough jobs that regular cranes can't handle. In 2022, construction jobs made up over half of all rough terrain crane work. Why are they so popular? Because these cranes can work in places that are rough and uneven, places that make traditional cranes cry. They're tough enough to lift heavy equipment, machinery, and even whole building parts on construction sites where other cranes would get stuck. Their superpower? They can go anywhere! Their wheels let them get to hard-to-reach places, making them perfect for projects that are far away or in tricky spots. Think of building bridges, putting up skyscrapers, or even making new roads. These cranes are like the construction team's secret weapon, helping them get the job done safely and efficiently.
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From 2023 to 2032, you'll see a huge surge in demand for cranes that can handle loads between 26 and 74 tons in tricky terrains. Why? Because these babies are super versatile and can tackle a vast array of projects in construction, industry, and more. Think about it. These cranes can handle medium to large-sized stuff in places where the going gets tough, like construction sites, mines, and oil and gas fields. They're strong enough to lift heavy loads and agile enough to navigate rough terrain with ease. Plus, there's a huge need for efficient and trustworthy lifting solutions in all sorts of industries, which is why these rough terrain cranes with capacities between 26 and 74 tons are going to be a hot commodity in the years to come.
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The construction industry in North America is booming, and with it, the demand for rough terrain cranes has skyrocketed. These cranes are essential for lifting heavy loads in tough conditions, making them a must-have for building projects in cities and remote areas alike. In 2022, the rough terrain crane market in North America was worth a whopping $2.6 billion. And by 2032, it's projected to hit a staggering $4 billion. Why the big jump? Because construction projects in urban centers like New York, Los Angeles, and Houston are in high gear. And even in more remote areas, the oil and gas industry is driving demand for cranes that can navigate rugged terrain. Whether it's a skyscraper in Manhattan or an oil rig in the mountains, rough terrain cranes are getting the job done.
Rough Terrain Crane Market Share
The key industry players operating across the rough terrain crane market include
- KATO WORKS CO LTD
- Liebherr Group
- Manitex International
- Manitowoc Company
- SANY Group
- Tadano Ltd
- Terex Corporation
- TIL Limited
- Xuzhou Construction Machinery Group Co
- Zoomlion.
Rough Terrain Crane Industry News
In April 2022, Tadano Ltd. announced launching the world's first electric rough terrain crane in 2023. The crane will be powered by batteries and will have a lifting capacity of 50 tons.
This rough terrain crane market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) and Volume (Units) from 2018 to 2032, for the following segments
By Payload Capacity
- Upto 25 Ton
- 26 Ton – 74 Ton
- 75 Ton – 100 Ton
- Above 100 Ton
By Application
- Construction
- Utility
- Others
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- ANZ
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- South Africa
- UAE
- Saudi Arabia
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Rough Terrain Crane Market 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 – 2032
2.3 Regional trends
2.4 Capacity trends
2.5 Application trends
Chapter 3 Rough Terrain Crane Market Industry Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Technology & innovation landscape
3.5 Patent analysis
3.6 Key news and initiatives
3.6.1 Partnership/Collaboration
3.6.2 Merger/Acquisition
3.6.3 Investment
3.6.4 Product launch & innovation
3.7 Regulatory landscape
3.8 Impact forces
3.8.1 Growth drivers
3.8.1.1 Rising infrastructure development projects
3.8.1.2 Rising popularity of rental and leasing services
3.8.1.3 Strong growth of utilities infrastructure segment
3.8.1.4 Increasing investments in mining projects in MEA and Latin America
3.8.2 Industry pitfalls & challenges
3.8.2.1 High upfront investment
3.8.2.2 Rising inflation in the fuel prices
3.9 Growth potential analysis
3.10 Porter’s analysis
3.11 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
4.3.1 Tadano
4.3.2 Zoomlion
4.3.3 XCMG
4.3.4 Manitowoc
4.3.5 Kato Works Co. Ltd.
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022
Chapter 5 Rough Terrain Crane Market Estimates & Forecast, By Payload Capacity (Revenue, Units)
5.1 Key trends, by payload capacity
5.2 Upto 25 Ton
5.3 26 Ton – 74 Ton
5.4 75 Ton – 100 Ton
5.5 Above 100 Ton
Chapter 6 Rough Terrain Crane Market Estimates & Forecast, By Application (Revenue, Units)
6.1 Key trends, by application
6.2 Construction
6.3 Utility
6.4 Others
Chapter 7 Rough Terrain Crane Market Estimates & Forecast, By Region (Revenue, Units)
7.1 Key trends, by region
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.3 Europe
7.3.1 UK
7.3.2 Germany
7.3.3 France
7.3.4 Italy
7.3.5 Spain
7.3.6 Russia
7.4 Asia Pacific
7.4.1 China
7.4.2 India
7.4.3 Japan
7.4.4 South Korea
7.4.5 ANZ
7.5 Latin America
7.5.1 Brazil
7.5.2 Mexico
7.5.3 Argentina
7.6 MEA
7.6.1 UAE
7.6.2 Saudi Arabia
7.6.3 South Africa
Chapter 8 Company Profiles
8.1 KATO WORKS CO., LTD
8.2 Liebherr Group
8.3 Manitex International Inc.
8.4 Manitowoc Company, Inc.
8.5 SANY Group
8.6 Tadano Ltd.
8.7 Terex Corporation
8.8 TIL Limited
8.9 Xuzhou Construction Machinery Group Co., Ltd.
8.10 Zoomlion
- KATO WORKS CO LTD
- Liebherr Group
- Manitex International
- Manitowoc Company
- SANY Group
- Tadano Ltd
- Terex Corporation
- TIL Limited
- Xuzhou Construction Machinery Group Co
- Zoomlion.
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