Rough-Terrain Crane Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast (2023-2029)

Rough-Terrain Crane Market is expected to reach USD 57.52 billion at a CAGR of 4.8% during the forecast period 2029.

The report covers the detailed analysis of the Global Rough-Terrain Crane industry with the classifications of the market on the basis of type, application, and region. Analysis of past market dynamics from 2017 to 2022 is given in the report, which will help readers to benchmark the past trends with current market scenarios with the key player's contribution in it.
Rough-Terrain Crane Market Overview:
Rough-terrain cranes are mobile cranes designed to operate over various types of surfaces. These cranes are primarily utilized for moving, lifting, loading, and unloading heavy materials Across a wide range of industries including construction, utility, and other industries. These cranes consist of four large rubber tires that assist the crane to operate on uneven surfaces. Growing demand for rough-terrain cranes in a wide range of industries for loading and unloading heavy materials is expected to generate lucrative business opportunities in the market over the forecast period.To Know About The Research Methodology :- Request Free Sample Report

The report has profiled twelve key players in the market from different regions. However, the report has considered all market leaders, followers, and new entrants with investors while analyzing the market and estimating the size of the same. The manufacturing environment in each region is different and focus is given on the regional impact on the cost of manufacturing, supply chain, availability of raw materials, labor cost, availability of advanced technology, trusted vendors are analyzed and the report has come up with recommendations for a future hot spot in APAC region. Major country’s policies about manufacturing and its impact on market demand are covered in the report.
Rough-Terrain Crane Market Dynamics
Strong demand for utility infrastructure is driving the market.

The growing development of utility infrastructure in developing and developed economies across the world is expected to drive market growth. The growing number of construction activities and developing transportation sector has increased the number of projects associated with them is driving the market growth. These cranes are also utilized in heavy lifting operations with tight spaces as they are compact as compared to other cranes. Increasing government investment in power transmission and utility projects is expected to propel the market growth over the forecast period. The growing trend of rental basis crane service in various emerging economies is also expected to create a surge in the demand for rough-terrain cranes for rental basis businesses. Growing urbanization is fueling the construction of tall buildings and modern infrastructure, this has created a surge in the market demand for lifting heavy materials and loading & unloading activities. Increasing demand for rough-terrain cranes in the mining industry is the supporting factor for the market.

High initial investment is expected to hamper the market growth

High initial cost and maintenance cost of rough terrain cranes is the restraining factor for the market. Rough Terrain cranes move at low speed and they are needed to be transported on the site, this is further expected to hamper the market growth.

Growing use of rough-terrain cranes in installation and maintenance activities is expected to create new opportunities.

Growing preference for rough-terrain cranes in installation and maintenance activities in various industries are expected to create lucrative opportunities for the market over the forecast period. Moreover, growing awareness and availability of rough-terrain cranes with advanced technology and improved capacity is expected to generate new prospects for the market during the forecast period.
Rough-Terrain Crane Market Segment Analysis:
The market is divided into three main segments and further into sub-segments to forecast the market size by value.

75 Ton to 100 Ton segment is expected to command the largest market share of xx% by 2029.

Rough-Terrain cranes with 75 Ton to 100 Ton capacity caters almost all the major lifting operations. This range is highly preferred and versatile in the various industries, thanks to their improved performance on off-road and on-road applications and projects. Growing demand for the high capacity construction equipment in various infrastructural projects is expected to drive the segment growth over the forecast period. Strong preference for this range in various heavy-duty lifting applications is the supporting factor for the segment growth over the forecast.

Construction Industry segment is expected to command the largest market share of xx% by 2029.

Growing demand for a rough-terrain crane in maintenance and installation in the construction industry is expected to drive the segment growth over the forecast period. Increasing population and urbanization are fueling the construction sector, this is further expected to propel the segment growth over the forecast period. Growing demand for sustainable transport has fueled the need for modern infrastructure projects in the mobility and transportation sector. Increasing government investment in infrastructural development projects is also expected to support the segment growth over the forecast period. The utility segment is also expected to register significant growth over the forecast period. Growing demand for power generation and other utilities are supporting the growth of the energy and power sector, this further expected to drive the utility segment growth over the forecast period.
Rough-Terrain Crane Market Regional Insights:
Asia Pacific is expected to register the highest growth at xx% CAGR over the forecast period.

Increasing construction activities in emerging economies of APAC including India, China, Japan and South Korea are expected to drive market growth over the forecast period. Growing urbanization and increasing disposable income have fueled the demand for modern infrastructure, which has created a positive impact on the construction industry in the region. The growing population in these emerging countries is driving the demand for the utility sector and further propels the market growth. Growing demand for renovation and repair of existing infrastructure is also the supporting factor for the market growth in the region. Industrialization in the APAC is also one of the reasons behind the market growth during the forecast period. Government initiation to provide favorable policies for commercial housing and construction is increasing demand for the rough-terrain cranes, this is the supporting factor for the market.

Europe has dominated the global rough-terrain crane market in 2022. Increasing demand for high-capacity construction equipment is driving the market growth in the region. A growing number of infrastructural and construction projects implemented by European countries is expected to fuel the market growth in the region. Demand for new charging infrastructures for electric vehicles in European countries like Germany and UK are a supporting factor for the market. The presence of key players in the region is also a supporting factor for the market.
Covid-19 Impact on the Global Rough-Terrain Crane Market:
• The coronavirus pandemic has placed tremendous pressure on businesses and sectors across the globe. Governments from all countries have introduced a lock-up to detect the transmission of infectious diseases. The contribution of these regulations has created a negative impact on construction machinery industry.
• The coronavirus adversely impacted the Rough-Terrain Crane market. Restriction on public transportation and the disruption caused by the lockdown would harm the market. Most of the sectors are not functioning properly due to the influence of Covid-19 which has caused an adverse impact on the Global Rough-Terrain Crane Market.

The report helps in understanding Global Rough-Terrain Crane Market dynamics, structure by analyzing the market segments and project the Global Rough-Terrain Crane Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Rough-Terrain Crane Market make the report investor’s guide.

Competitive Insight

Companies are launching new crane models with improved capacity and enhanced safety to improve their product portfolio and strengthen their position in the market. Companies are also focused on developing cost-efficient rough-terrain cranes to improve their sales in emerging economies such as India, China, and others. Moreover, companies are also making a strategic partnership with distributing companies to improve their range across the globe. For instance, in 2018, Chinese manufacturer Sany announced a strategic partnership with Equipment Depot to improve its sales in the American market.
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Rough-Terrain Crane Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 41.43 Bn.


Forecast Period 2023 to 2029 CAGR:
4.8%
Market Size in 2029:
US $ 57.52 Bn.


 Segments Covered:
by Type
• Up to 25 Ton
• 26 Ton - 74 Ton
• 75 Ton - 100 Ton
• Above 100 Ton


by Application
• Construction
• Industries
• Utilities
• Others



Rough-Terrain Crane Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Rough-Terrain Crane Market Key Players:
• Manitex International Inc.
• TIL Limited
• ENTREC Corporation
• Xuzhou Construction Machinery Group Co., Ltd.
• Broderson Manufacturing Corporation
• SANY GROUP
• Maxim Crane Works, L.P.
• Liebherr Group
• The Manitowoc Company, Inc.
• Terex Corporation
• Tadano Ltd.
• Kato Works Co., Ltd.

Frequently Asked Questions:

1. Which region has the largest share in Global Rough-Terrain Crane Market?
Ans: North America region held the highest share in 2022.

2. What is the growth rate of Global Rough-Terrain Crane Market?
Ans: The Global Rough-Terrain Crane Market is growing at a CAGR of 4.8% during forecasting period 2023-2029.

3. What is scope of the Global Rough-Terrain Crane Market report?
Ans: Global Rough-Terrain Crane Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Rough-Terrain Crane Market?
Ans: The important key players in the Global Rough-Terrain Crane Market are – Manitex International Inc., TIL Limited, ENTREC Corporation, Xuzhou Construction Machinery Group Co., Ltd., Broderson Manufacturing Corporation, SANY GROUP, Maxim Crane Works, L.P., Liebherr Group, The Manitowoc Company, Inc., Terex Corporation, Tadano Ltd., Kato Works Co., Ltd..

5. What is the study period of this Market?
Ans: The Global Rough-Terrain Crane Market is studied from 2022 to 2029.