Wheeled cranes are an indispensable part of construction projects as they offer flexible mobility and high operational efficiency in constrained spaces. They are extensively used for loading and unloading equipment, assembling pre-fabricated construction elements on-site and maneuvering heavy components into required locations. Wheeled cranes have an advantage over other cranes as they can be easily transported between project sites without the need for assembly or disassembly. The growing construction of roads, bridges, commercial buildings, power plants and other infrastructure has resulted in augmented demand for wheeled cranes.
The Global Wheeled Crane Market is estimated to be valued at US$ 25.37 Bn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 To 2031.
Key Takeaways
Key players operating in the Wheeled Crane are Tadano Ltd, Liebherr Group, Terex Corporation, Xuzhou Construction Machinery Group Co., Ltd, Sany Heavy Industry Co. Ltd, Zoomlion Heavy Industry Science and Technology Co., Kobelco Construction Machinery Co., Ltd, Manitowoc Cranes, Link-Belt Cranes, Kato Works Co. Ltd, Palfinger AG, Manitex International, Sichuan Changjiang Electric Co. Ltd, Altec Inc., Elliott Equipment Company, Böcker Maschinenwerke GmbH, Tadano Faun GmbH, Broderson Manufacturing Corp., Mühlhäuser GmbH & Co. KG, SENNEBOGEN Maschinenfabrik GmbH.
The Wheeled Crane Market Demand is increasing globally due to wide-scale investments in renewable energy projects, public infrastructure and urban development. Technological advancements in wheeled cranes such as the incorporation of sensors, remote monitoring systems and telematics have improved operational efficiency, safety and maintenance of these cranes.
Market trends
Growing demand for rental cranes - With rising need for flexible lifting solutions, the Wheeled Crane market Trends for rental craned has witnessed significant growth over the past few years. Rental companies offer wheeled cranes on rent for short as well as long-term basis depending on project requirements.
Adoption of hybrid-electric technology - Global concerns about carbon emissions are prompting crane manufacturers to shift focus towards developing hybrid-electric variants. Hybrid electric wheeled cranes provide several benefits such as reduced fuel consumption, lower operating costs and decreased noise and emission levels.
Market Opportunities
Infrastructure development in emerging economies - Countries such as India, Indonesia, Vietnam, Philippines and Kenya are investing heavily in infrastructure like roads, bridges, urban rail networks etc., thereby boosting demand for wheeled cranes.
Growth of renewable energy sector - Installation of solar panels, wind turbine assemblies require wheeled cranes for loading and positioning heavy components. The global expansion of renewables presents attractive growth opportunities.
Impact of COVID-19 on Wheeled Crane Market Growth
The COVID-19 pandemic has significantly impacted the growth of the wheeled crane market. During the initial phase of the pandemic, many construction activities came to a halt due to lockdowns and supply chain disruptions. This led to a steep decline in demand for cranes from the construction sector in 2020. The manufacturing facilities of crane OEMs also had to temporarily shut down or operate at reduced capacities due to workplace safety guidelines, which affected supply.
However, many countries announced large infrastructure development plans in 2021 to boost their economies recovering from the pandemic's effects. This revitalized demand from construction projects. The market also benefited from increased spending on infrastructure modernization and expansion of manufacturing facilities. Crane manufacturers focused on fulfilling the growing order books while ensuring compliance with COVID safety protocols.
Still, issues around rising raw material costs, part shortages, and labour constraints continue to pose challenges. OEMs have had to raise product prices to offset these cost pressures. They are also prioritizing parts localization and flexible workforce planning. Going forward, greater investments in mechanization, digitalization, and remote technology integration can help make crane operations more efficient in uncertain times.
Europe accounts for the largest share of the Wheeled Crane Market
In terms of value, Europe holds the largest share of the wheeled crane market, estimated at over 35% in 2024. This is attributed to high construction spending, strong manufacturing sector, and strict safety regulations driving equipment upgrades in the region. Countries like Germany, France, and the UK are major European markets.
Asia Pacific is the fastest-growing regional market, projected to expand at around 8% CAGR during the forecast period. Rapid infrastructure development, industrialization, and urbanization across India, China, Indonesia, and other Asian countries are propelling regional demand. Government initiatives to modernize public infrastructure will continue supporting the APAC wheeled crane market in the coming years.
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Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
