Global Mobile Crane Market to Grow 3.89% from 2017-2021

Increased infrastructure development around the world is one of the key drivers of the global mobile crane market growing at a CAGR of 3.89% over the next 5 years.

May 2, 2017

Research and Markets has announced the addition of the "Global Mobile Crane Market 2017-2021" report to its offering.

The global mobile crane market to grow at a CAGR of 3.89% during the period 2017-2021.

The report covers the present scenario and the growth prospects of the global mobile crane market for 2017-2021. To calculate the market size, the report discusses the major drivers influencing market growth and the challenges faced by the vendors and the overall market. The report also includes a discussion of the key vendors operating in this market.

One trend in the market is the rising use of telematics. This global positioning system (GPS)-based technology offers many benefits to equipment owners and fleet managers. Only big players have implemented this technology until recently. However, with the advances in the technology, rental companies of all sizes have begun using it. While cost plays a big role in any organization, the advantages of telematics such as increased operational efficiency and profitability are pushing firms to adopt this technology.

According to the report, one driver in the market is increased infrastructure-based development. The increased construction spending globally is mainly due to the demographic changes, which are likely to fluctuate across countries, influencing both the amount and type of infrastructure spending. Growing older populations in Western Europe and Japan, for example, are expected to require more medical service facilities, while nations in Sub-Saharan Africa, the Middle East, and numerous parts of APAC (Asia-Pacific) are anticipated to require more schools and better transportation facilities to support the increasing number of younger people.

Market Dynamics

Market drivers