WHEELED CRANE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2023 - 2030)

Wheeled Crane Market Size and Trends

Global wheeled crane market is expected to reach US$ 25.37 Bn by 2030, from US$ 16.91 Bn in 2023, at a CAGR of 6% during the forecast period. Wheeled cranes are mobile cranes that are mounted on wheeled platforms, providing better maneuverability at construction sites. These 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.

Global wheeled crane market is segmented into by product type, lifting capacity, end-use industry, propulsion, design, 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.

• Development of higher capacity cranes: Manufacturers are focusing on developing wheeled cranes with higher lifting capacities ranging above 500 tons to meet customer’s needs. End-use sectors such as construction, mining, oil & gas, shipbuilding, and others 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, and others. 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 are 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.