Page 33 - CO January 2022

CRANES - TOWER & MOBILE

construction and other end-user industries. They are preferred over Fast Facts
the traditional lifting and construction equipment, which is likely to
push the market for them over the forecast period. In addition, these  The Crane Market is estimated to be valued at US$48 LEAD STORY
cranes eliminate the requirement for dedicated transport vehicles. billion in 2026.
The added advantage of these cranes is their flexibility to adjust,  The rise in infrastructure transformation projects and
which is attracting fleet owners and crane rental providers. All-terrain rapid development of the construction sector across
cranes are becoming popular in the new age of construction due the globe are attributing to the industry growth.
to their high-intensity output and ability to work in adverse terrains  Construction projects proliferation and advanced
and weather conditions, which is likely to aid their growth in the near technologies integration, such as telematics and
future. The increasing preference for tall building constructions and fleet management by OEMs, are creating growth
mining and power resource developments have significantly driven opportunities for the mobile crane market.
the need for all-terrain cranes in the past few years.
 Mobile crane manufacturing companies are producing
Mobile Cranes the equipment with advanced technologies to reduce
The mobile crane market was valued at US$15.72 billion in 2020, the repair & maintenance cost and improve the overall
and it is expected to reach US$22.73 billion by 2026, registering a performance and safety of the machine.
CAGR of 6.34% during the forecast period.The projected increase
in demand for construction equipment, worldwide, is an important propelling the market expansion.
driving factor for the mobile cranes market. Various government The cranes with above 30 tons lifting capacity are expected to
initiatives and the exponential increase in the need for new and witness a growth rate of over 6.5% through 2030 led by their high
improved structures are increasing the market opportunities lifting capacities and enhanced working height. Companies are
for the construction market.The increased need for renewable upgrading their previous models with single engine design to
energy sources, like energy from windmills, is another areaof great reduce the emissions and overall operating costs, improving their
opportunities for the mobile crane market. The compact space market share.
advantage offered by the mobile cranes makes them easier to fit The high procurement and operating costs associated with
into cramped-up construction areas for operations. Rough terrain mobile cranes, changing requirements of customers, and varying
cranes with high torque and offroad navigating capabilities are in compliance and specification requirements from region to region
high demand in both the construction and mining industries due are some of the factors that are expected to restrain the growth of
to the operational advantages and efficiency these cranes offer. the market. As the application portfolio of mobile cranes continues
The rising importance of safe, cost-effective, and speedy material to widen, the product specifications for mobile cranes are also
handling activities in the construction & transport sector is driving changing rapidly. As such, a standard mobile crane can no more
the market growth. The companies are focusing on introducing cater to diverse customer needs. Product specifications can also
new low emission mobile crane models to contribute to sustainable change according to the region. For instance, a mobile crane
environment. For instance, in December 2020, Liebherr Group that suits the European market may not be suitable for the North
introduced electric crawler cranes, LR1200.1 and LR.1250.1. These American market.
are the world’s first crawler cranes that are battery powered and The truck-mounted crane segment accounted for the largest
are equipped with 255kW electrical engines. volume share of 60.9% in 2019. The rising demand for mobile
The mobile crane market is experiencing high growth on account machinery in power and utilities, construction, and other industries
of the integration of smart technology. Established industry players and industry verticals is expected to boost the growth of the
are integrating telematics platform into cranes to enhance segment. Truck-mounted equipment offer a high loading capacity
equipment efficiency and productivity. For instance, in May 2021, and can help in transporting goods easily from one place to
Terex Corporation announced new telematics platform T-Link for all another. These products are typically used in construction projects,
Terex rough terrain cranes. T-Link platform assists equipment owners such as bridge construction, railway projects, and hydropower
to track the equipment’s real-time activities and location, allowing
owners to monitor and manage their fleet efficiently. Telematics
platform will increase the equipment’s working effectiveness and life We plan to launch the following cranes in
expectancy.Terex’s products are offered with the IC-1 Plus control the very near future.
system, which helps operators in calculating the lifting capacity for • In the Tower cranes XT1200 (80105-63)
each position of the boom. The integration of advanced systems, in the 63 ton capacity will be newly
such as telematics, is anticipated to fuel the growth of the market. launched.
All-terrain cranes hold around 25% of the mobile crane market • In the Crawler cranes XCG 45 in the 45
share in 2020. All-terrain cranes have the capacity to achieve robust ton capacity will be newly launched.
manoeuvrability and ability to perform operations in harsh weather • In the ALL terrain Crane XCA 60 & XCA
conditions with superior mobility. High-performance efficiency in 300 will be the new launches.
a variety of sectors such as power stations, oil & gas production, • In the Truck crane XCT 25 will be the
and construction sites is likely to augment the industry statistics. new launch.
Continuous new product launches in the all-terrain segment are V. G. SAKTHIKUMAR, MD, SCHWING STETTER INDIA

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