Majority of the share in the mobile construction cranes market remain concentrated among well-established companies. The leading players in the market are focusing on research and development activities. For instance, Liebherr-International AG, one of the largest mobile construction cranes company is planning to develop fiber rope with high-strength to be used in crawler and mobile cranes.
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Companies in the mobile construction cranes market are also focusing on increasing their product reach across regions like Asia Pacific Excluding Japan, and the Middle East and Africa. For example, Kobelco Construction Machinery Co. Ltd. has set-up wire rod secondary processing bases in India, China, and Thailand.
Top five companies hold significant share based on the revenue in the overall mobile construction cranes market. New product development, mergers & acquisitions, and partnerships are some of the key strategies adopted by companies in the Mobile Construction Cranes Market.
Mobile Construction Cranes Manufacturers Focusing on the Advancement in Crane Technology
Mobile construction cranes manufacturers are trying to develop new cranes with reduced size, weight, and cost. Use of mobile apps is allowing mobile construction cranes manufacturers to access instant information to adapt to the changing environment. For instance, the onboard computer system in the mobile construction cranes allow the crane operator to adjust to the specific requirements of the lifting process.
New mobile construction cranes are being developed with specific measurements for crane level, wind speed, and boom angle. Meanwhile, sensors installed in the mobile construction cranes offer real-time data on the operating condition of the machinery. Companies such as Liebherr, and Manitowoc exhibited new cranes with advanced technologies at various events in 2018.
The demand for better construction equipment and mobile construction cranes with high capacity lifting is increasing in countries like Indonesia, Vietnam, China, and India. This is due to the heavy investments by foreign investors in the development of urban infrastructure and new smart cities.
Development in Global Construction Sector Influencing Mobile construction cranes Market Growth
Construction has emerged as one of the most dynamic industrial sectors owing to the rising infrastructure due to growing population and urbanization. Mobile construction cranes are extensively used in construction and maintenance activities. Moreover, upgradation of distribution networks and power grids due to increasing demand for energy is fueling the growth in the mobile construction cranes market.
Many heavy-construction projects including flyovers, metro projects, power projects, and industrial projects have raised the demand for mobile construction cranes in countries in the Asia Pacific region. Governments in the region are also focusing on speedy project approval, hence, construction equipment manufacturers and mobile construction cranes providers are positive about future growth.
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Skilled Labor Shortage Remain Top Concern in the Mobile construction cranes Market
Shortage of skilled labor is one of the top concerns in the mobile construction cranes market. Hiring skilled labor to operate and manage mobile construction cranes is important to avoid accidents, break-down, and ensure completion of the project on time and in the allotted budget. Lack of training provided to crane operator and supervisor is resulting in the shortage of skilled labor in mobile construction cranes market.
However, companies in the mobile construction cranes market are providing role-specific training to update knowledge and skills for operating cranes. Meanwhile, mobile construction cranes companies are also employing and training ex-forces personnel to cut down the time-frame of training and quickly build full capacity of well-trained workers.
Hiring people to install, dismantle, and operate mobile construction cranes is the most significant cost of owning a crane. Hence, employing skilled workforce has become a necessity in mobile construction cranes market, to avoid break down resulting in higher cost for replacement. According to the latest report from USG Corporation and the US Chamber of Commerce, the expected labor shortage, is likely to be one of the biggest factor affecting safety in construction industry and mobile construction cranes market over the next three years.
The report on the mobile construction cranes market offers detailed profiles of all the major market players. The report offers a dashboard view on mobile construction cranes market players. Moreover, SWOT analysis on the key players along with key strategies by players in the mobile construction cranes market has also been included in the report. Majority of the players in the mobile construction cranes market are entering into the partnerships and mergers and acquisitions to set their footprints across various countries.
As a part of the recent development in the mobile construction cranes market, Tadano has entered into a partnership with Nippon Express Group to open a new global parts supply center in Singapore. With the new center, Tadano plans to increase its sales and provide support to the customers outside Japan.
Meanwhile, Liebherr- Australia, a sales and service division of Liebherr in Australia plans to takeover Morrow Equipment Company in Australia and New Zealand. The company plans to establish itself well in both countries.
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