The wheeled crane market offers a variety of all-terrain cranes that are highly mobile and can be easily transported from one job site to another. Wheeled cranes, also known as rough-terrain cranes, have robust structural frames and all-wheel drive capabilities that allow them to operate effectively across rugged outdoor environments. Their hydraulic lifting systems enable precise and controlled handling of heavy payloads during construction, manufacturing, and infrastructure projects.
Key Takeaways
Key players operating in the wheeled crane market 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 global Wheeled Crane Market Growth 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 from 2024 to 2031.
The market offers several growth opportunities such as the rising construction of roads and highways, increasing investments in renewable energy projects, and expanding global infrastructure. Technological advancements including remote-controlled operation, automated positioning systems, and AI-based load charts are expected to drive the adoption of wheeled cranes.
Current Challenges in the Wheeled Crane Market
The wheeled crane market faces some key challenges currently that are hampering its growth prospects. Firstly, stringent emission norms for construction equipment across major markets have increased compliance costs for manufacturers. Upgrading existing models to meet the new BS VI (India) and Stage V (EU) emission standards without significantly raising product costs is a difficult task. Secondly, the Covid-19 pandemic disrupted manufacturing and supply chains globally in 2020. While demand has recovered since, high raw material costs and semiconductor chip shortages continue to pose supply challenges. Construction activity was stalled during lockdowns as well, impacting wheeled crane sales. Significant skills shortage in the crane operator workforce is another challenge faced globally. This issue is exacerbating with aging demographics in developed nations.
Market Drivers
The increasing demand for mobile lifting equipment across remote construction sites is a key driver for the Wheeled Crane market Trends. The availability of wireless remote-control systems is enhancing the effectiveness of wheeled cranes by allowing operators to control multiple functions safely from a remote station. This is eliminating blind spots and improving visibility during operations. The rising need for energy-efficient and emissions-compliant construction equipment is also propelling the demand for electric-powered and hybrid wheeled cranes. Stringent safety regulations worldwide are pushing manufacturers to develop cranes with advanced monitoring systems and automated boom positioning capabilities.
SWOT Analysis
Strength: Versatility and mobility of wheeled cranes allow them to access congested worksites easily. They are capable of lifting heavier loads than jib cranes.
Weakness: Higher purchasing and maintenance costs compared to stationary tower cranes. Terrain and ground conditions need to be suitable for movement.
Opportunity: Rapid urbanization and investment in infrastructure globally is driving demand. Emerging economies in Asia and Africa offer high growth potential.
Threats: Strict emission regulations requiring technology upgrades can increase costs. Economic slowdowns can sharply reduce construction activity and therefore crane sales.
Geographical Regions
Currently, the Asia Pacific region accounts for the largest share of the global wheeled crane market in terms of value, estimated at over 35% in 2024. Strong construction activity across China, India, Indonesia, Vietnam and other developing Asian countries is driving demand. Europe is the second largest regional market led by Germany, UK, France, Italy and Russia. North America, particularly the US, is another major construction equipment market globally.
Fastest Growing Region
The Middle East and Africa region is projected to be the fastest growing market for wheeled cranes between 2024-2031, with a forecast CAGR of around 8%. Rapid infrastructure development underway across GCC countries, Egypt, Nigeria, Kenya is boosting crane procurement. Mega projects around transportation, utilities, buildings and energy sectors are fueling demand growth in the region.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
About Author – Money Singh
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, chemicals and materials, defense and aerospace, consumer goods, etc. LinkedIn Profile