The Wheeled Crane Market size is expected to reach US$ 12 billion by 2030, from US$ 8.87 billion in 2023, at a CAGR of 4.4% during the forecast period. Wheeled cranes are mobile cranes that are mounted on wheeled platforms, providing better maneuverability at construction sites. They are used for various material handling and construction applications such as lifting, lowering, and transporting heavy loads. The growth of the market is driven by expanding construction and infrastructure industries, rising mining activities, and growth in emerging economies.
The Wheeled Crane Market is segmented by product type, lifting capacity, end-use industry, propulsion, and region. By product type, the rough terrain cranes segment is expected to dominate the market over the forecast period. Rough terrain cranes are designed to operate on uneven terrains at construction sites, providing better stability and reach.
Wheeled Crane Market Regional Insights
- North America is expected to be the largest market for Wheeled Crane Market during the forecast period, accounting for over 30.2% of the market share in 2023. The growth of the market in North America is attributed to extensive construction activities and investments in the oil & gas sector.
- The Asia Pacific market is expected to be the second-largest market for Wheeled Crane Market, accounting for over 38.5% of the market share in 2023. The growth of the market in is attributed to rapid urbanization and growth in construction and infrastructure projects.
- The Europe market is expected to be the fastest-growing market for Wheeled Crane Market, with a CAGR of over 19.5% during the forecast period. The growth of the market in Europe is attributed to increasing spending on renewable energy projects and public infrastructure.
Figure 1. Global Wheeled Crane Market Share (%), by Region, 2023
Wheeled Crane Market Drivers
- Expanding construction and infrastructure industries: The expanding construction and infrastructure industries are majorly driving the growth of the Wheeled Crane Market. Rapid urbanization and population growth in emerging economies is leading to a rise in construction activities globally. Both public and private sector investments in large-scale infrastructure projects such as highways, railways, ports, airports, dams etc. require heavy lifting equipment like wheeled cranes for efficient material handling and construction. Government initiatives to improve public infrastructure and recent recovery in the real estate sector are further fueling construction activities, thereby driving the demand for wheeled cranes.
- Increased mining activities: Growth in the mining sector across the globe is another key factor propelling the Wheeled Crane Market growth. Mining activities involve lifting and transportation of heavy machinery, equipment and extracted materials, which require high capacity cranes. Rising demand for metals and minerals is leading to growth in exploration, extraction and material handling activities in the mining Wheeled cranes play a crucial role in these processes due to their superior lifting capacities and ability to traverse rough terrains. The increasing investments in the mining sector are expected to drive wheeled crane adoption.
- Rising investments in renewable sector: Investments in renewable energy projects such as solar, wind and tidal farms are on the rise globally which is generating demand for wheeled cranes. Installation, maintenance and transmission infrastructure development for renewable energy plants requires lifting and positioning of heavy equipment. Wheeled cranes provide mobility and high capacity lifting for these renewable energy construction applications. Government policies and funds driving renewable energy adoption are therefore propelling the growth of wheeled cranes.
- Advantage over crawler cranes: Wheeled cranes are being increasingly preferred over crawler cranes owing to benefits such as faster setup time, better mobility and transportability. Wheeled cranes can directly travel to sites without requiring special trailers. Their ability to access confined spaces and maneuverability provides significant advantages over crawler cranes. Technological advancements improving mobility and terrain accessibility of wheeled cranes is further supporting their adoption over crawler cranes in many lifting applications.
Wheeled Crane Market Opportunities
- Growth in emerging economies: Rapidly growing construction, infrastructure development and industrialization in emerging economies such as China, India, Brazil, Mexico etc. offer lucrative growth opportunities for wheeled crane manufacturers. Urban migration, rising per capita incomes and favorable government policies focused on advancing public infrastructure are driving construction activities in these regions. Mining, renewable energy, oil & gas sectors are also witnessing substantial investments. The growth across these end-use industries is expected to drive adoption of high capacity wheeled cranes in emerging economies.
- Deployment of electric wheeled cranes: Increasing concerns regarding environmental pollution caused due to diesel-powered construction equipment is generating demand for electric variants. Hybrid and fully electric wheeled cranes are gaining popularity owing to lower ownership costs and minimal emissions offered by them. Strict emission regulations implemented on construction machinery along with advancements in battery technology are encouraging manufacturers to expand electric wheeled cranes portfolio. The shift towards sustainable construction is expected to provide growth opportunities for electric wheeled cranes.
- Rental services market: The rental services market for construction equipment is growing steadily across the world. Many end-use companies prefer renting wheeled cranes rather than owning them to reduce capital costs. Rental services allow using cranes on a temporary basis without bearing the high purchasing and maintenance costs. Leading manufacturers are expanding their rental fleet to capitalize on this demand. Strategic partnerships with rental companies provide opportunity to increase customer reach. The flourishing rental market provides lucrative prospects for wheeled crane manufacturers.
- Expansion in modular construction: The growing shift towards modular construction is presenting opportunities for mobile cranes including wheeled cranes. In modular construction, building components are prefabricated offsite and then transported to project site for assembly. This involves lifting and placing of heavy modules requiring high capacity cranes with mobility. Wheeled cranes, owing to their transportability and accessibility offer cost-effective lifting solutions for modular construction projects. Growth in modular buildings owing to reduced costs and faster completion is therefore likely to drive wheeled crane deployment.
Wheeled Crane Market Report Coverage
||Market Size in 2023:
||US$ 8.87 Bn
|Historical Data for:
||2018 to 2021
||2023 - 2030
|Forecast Period 2023 to 2030 CAGR:
||2030 Value Projection:
||US$ 12 Bn
- North America: U.S. and Canada
- Latin America: Brazil, Argentina, Mexico, and Rest of Latin America
- Europe: Germany, U.K., Spain, France, Italy, Russia, and Rest of Europe
- Asia Pacific: China, India, Japan, Australia, South Korea, ASEAN, and Rest of Asia Pacific
- Middle East & Africa: GCC Countries, Israel, South Africa, North Africa, and Central Africa and Rest of Middle East
- By Product Type: Truck Cranes, All Terrain Cranes, Rough Terrain Cranes, Loader Cranes, Others (Sidelifter, Rail Mounted, etc.)
- By Lifting Capacity: Less than 150 Tons, 150-300 Tons, Greater than 300 Tons
- By End Use Industry: Construction, Utilities, Industries, Others
- By Propulsion: Engine Powered, Electric Powered, Hybrid Powered
- By Design: Compact Wheeled Cranes, Standard Wheeled Cranes
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
- Expanding construction and infrastructure industries
- Increased mining activities
- Rising investments in renewable sector
- Advantage over crawler cranes
|Restraints & Challenges:
- High initial and maintenance costs
- Shortage of skilled operators
- Limitations in accessibility
Wheeled Crane Market Trends
- Development of higher capacity cranes: Manufacturers are focusing on developing wheeled cranes with higher lifting capacities ranging above 500 tons to meet customers’ needs. End-use sectors such as construction, mining, oil & gas, shipbuilding etc. are demanding more powerful cranes for lifting heavier loads. Introduction of advanced hydraulics, components and structural improvements are allowing OEMs to manufacture wheeled cranes with higher capacities. Customers are increasingly preferring high-capacity wheeled cranes to optimize productivity and operational efficiency.
- Adoption of automation systems: Integration of automation technologies such as telematics, IoT and AI in wheeled cranes is a major trend in the market. Automated systems allow remote monitoring and control of various crane functions such as load charting, fleet tracking, component health monitoring etc. This enables operators to maneuver cranes efficiently and safely. Automation aids in reducing human errors, improving productivity and ensuring workplace safety. OEMs are increasingly collaborating with tech companies to incorporate intelligent technologies in their cranes.
- Development of hybrid cranes: Hybrid drivetrain combining diesel engines and electric motors is being adopted in wheeled cranes to improve efficiency and minimize emissions. Hybrid cranes utilize diesel engines to meet average power needs and use electric motors for peak power requirements. This reduces engine size enabling fuel savings. Hybrid technology also enables regenerative energy capture during boom lowering to recharge batteries. Considering environmental concerns, many manufacturers are introducing hybrid wheeled cranes as sustainable alternative to traditional diesel-powered cranes.
- Expansion of product portfolio: Leading manufacturers are expanding their wheeled crane portfolio with new product launches across tonnage classes to consolidate market position. Introduction of new models with design enhancements, automation and technology integration is focused on providing customer tailored lifting solutions. Strategic mergers and acquisitions to acquire new products and technologies is also enabling companies to diversify their wheeled crane portfolio. R&D investments to develop crane designs optimized for specific applications are trending in the market.
Wheeled Crane Market Restraints
- High initial and maintenance costs: The purchasing cost of wheeled cranes is relatively high owing to robust construction, heavy components and integrated technologies used in them. Additionally, frequent repairs and maintenance services required to sustain performance and compliance further add to long term ownership costs. The slowdown in end-user sectors due to weakened economic conditions has reduced buying power, limiting wheeled crane adoption. Many construction and mining companies prefer used refurbished cranes or rental services to avoid the high new equipment costs.
- Shortage of skilled operators: The market growth is hampered by shortage of crane operators having sufficient expertise and certification to safely operate heavy cranes. Operating complex wheel cranes involves extensive training to reduce workplace hazards and asset damage risks. Lack of extensive hands-on knowledge, risk assessment abilities has led to accidents, negatively impacting adoption. Developing training infrastructure and workforce to address the skilled labor shortage is challenging for contractors, restricting market growth.
- Limitations in accessibility: While wheeled platforms provide mobility, cranes may face accessibility issues on sites with soft soils or difficult terrains. Road transportation restrictions also limit their access to remote regions. Lack of supportive infrastructure in many developing markets makes the deployment of large cranes difficult. Additionally, space constraints in urban regions restrict maneuverability. These limitations have slowed adoption for applications that require accessing difficult locations.
New product launches
- In January 2022, Tadano launched the GR-550EX, its largest rough-terrain crane. The 550-ton capacity model expands Tadano's rough-terrain portfolio.
- In June 2021, Liebherr unveiled the LTM 1110-5.3, an 110-ton rough-terrain crane. It offers increased lifting capacities and is suitable for a range of applications.
- In March 2022, Terex Cranes launched the TCX58, an 80-ton capacity truck crane. It features lower fuel consumption and reduced emissions.
Acquisition and partnerships
- In January 2021, Tadano completed the acquisition of Demag Mobile Cranes business from Terex Corporation. The acquisition expanded its product portfolio and geographic reach.
- In July 2022, Zoomlion acquired Manghi Holding, an Italian crane manufacturer. The acquisition enhanced Zoomlion's market position and production capacity in Europe.
- In October 2020, Manitowoc partnered with H&E Equipment Services to provide aftermarket parts and services support in North America. The partnership strengthened Manitowoc's customer support infrastructure.
Figure 2. Global Wheeled Crane Market Share (%), By Propulsion, 2023
Top companies in Wheeled Crane Market
- 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
Definition: Wheeled cranes refer to mobile cranes that are mounted on wheeled platforms or chassis and driven by engines or electric motors. They provide better maneuverability and access to confined spaces at construction sites. Wheeled cranes have telescopic booms mounted on top of the undercarriage to provide better reach and lifting capabilities. They utilize hydraulic drives and control systems to lift and maneuver heavy loads efficiently. Wheeled cranes are available in different types such as rough terrain cranes, all-terrain cranes, truck cranes etc. and have load capacities ranging from a few tons to over thousand tons. With their high mobility and versatility, wheeled cranes find extensive use in the construction industry for applications such as lifting structural steel, erecting towers, hoisting equipment, and loading materials.
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