Global Lattice and Telescopic Boom Market, By Mobile Cranes (Lattice & Telescopic Boom, Crawler, Rough Terrain, All-Terrain, Truck Loader), Fixed Cranes (Industrial, Tower, Ship-to-Shore), Operation (Hydraulic, Electric) - Industry Trends and Forecast to 2031.
Lattice and Telescopic Boom Market Analysis and Size
The largest type of mobile crane in the construction industry is the lattice boom crawler crane, also known as a crawler crane. Because of their size, it is frequently necessary to disassemble them, transport them in pieces, and then reassemble them at the site. The lattice boom crawler crane has long been regarded as the preferred crane for energy projects and large-scale construction projects. It is a heavy-duty machine that can move a lot of weight. Due to their enormous size, crawler cranes are frequently utilized for extended periods of time.
Data Bridge Market Research analyzes that the global lattice and telescopic boom market is expected to reach USD 2.34 billion by 2031, from USD 1.91 billion in 2023, and is expected to undergo a CAGR of 2.6% during the forecast period of 2024 to 2031. “Lattice and telescopic boom” dominates the service segment of the market due to demand from growing markets. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2024 to 2031
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Base Year
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2023
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Historic Years
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2022 (Customizable to 2016-2021)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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By Mobile Cranes (Lattice & Telescopic Boom, Crawler, Rough Terrain, All-Terrain, Truck Loader), Fixed Cranes (Industrial, Tower, Ship-to-Shore), Operation (Hydraulic, Electric)
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Countries Covered
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U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa
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Market Players Covered
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Konecranes (Finland), Liebherr (Switzerland), Tadano Ltd. (Japan), The Manitowoc Company, Inc. (U.S.), Zoomlion Heavy Industry Science & Technology Co., Ltd. (China), Terex Corporation (U.S.), Ingersoll Rand (U.S.), PALFINGER AG (Austria), Columbus McKinnon Corporation (U.S.), KOBE STEEL, LTD. (Japan), XCMG Group (China), Sumitomo Heavy Industries, Ltd. (Japan), ABUS Kransysteme GmbH (Germany), Mammoet (Netherlands), KATO WORKS CO., LTD. (Japan), among many others
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Market Opportunities
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Market Definition
A lattice boom crane is a type of crane that uses a lattice boom to lift heavy loads. The lattice boom is a network of metal beams that are interconnected to form a lattice. Lattice boom cranes are typically used in construction and heavy industry to lift heavy loads such as steel beams, concrete blocks, and heavy machinery. A telescopic boom crane is a type of crane that uses a boom that can be extended and retracted to reach different heights. They are commonly used in construction and industrial settings to move materials that are too heavy or difficult to move with a standard crane. Telescopic boom cranes can be mounted on a truck or trailer, or they can be standalone units.
Global Lattice and Telescopic Boom Market Dynamics
Drivers
- Sustainable Demand from the Construction Industry
The construction industry relies heavily on the efficient lifting and movement of heavy materials and equipment, such as concrete, steel beams, and construction machinery. Cranes and hoists provide a safe and effective means of handling these materials, facilitating construction projects of various scales. Similarly, the construction sector has been experiencing growth and expansion in many parts of the world, leading to an increased need for equipment that can expedite the construction process and handle larger and heavier loads.
Opportunity
- Rise in Urbanization Globally
The rise in urbanization globally, especially in Asia-Pacific has fueled the demand for various infrastructure projects, such as, roads, bridges, railways, tunnels, and others. In addition, construction activities have also witnessed an up-trend. The medium income countries, such as India, China, Vietnam, South Korea, and others have fueled the demand for low- and high-rise buildings. Such factors are anticipated to drive the demand for mobile cranes during the forecast period. Furthermore, the manufacturing sector is witnessing a rise in Europe and Asia-Pacific regions. Mobile cranes are extensively used for heavy load handling in the manufacturing sector, especially, for the manufacturing of heavy objects such as, cars, industrial machineries, steel, and others.
Restraint/Challenge
- Concerns Regarding Compliance with Stringent Safety Regulations and Standards
However, concerns regarding compliance with stringent safety regulations and standards have challenged the market's growth potential. Manufacturers are focusing on investing in research and development to evolve their safety norms while ensuring the optimum performance of their products. Technological advancements are also playing a pivotal role in shaping the future of the mobile crane market. Innovations such as advanced control systems, eco-friendly engines, telematics technology, and other novel features have enhanced the efficiency and capabilities of mobile cranes while reducing environmental impact. Additionally, integrating artificial intelligence (AI) and automation technologies into crane design is expected to redefine operational efficiencies in handling heavy loads, further propelling the market forward.
This lattice and telescopic boom market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the lattice and telescopic boom market market, contact data bridge market research for an analyst brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Recent Developments
- In September 2022, PCTEL, Inc., unveiled the MultiFin programmable antenna, intended for use in fleet management, public safety, and intelligent transportation applications.
- In August 2023, Amphenol RF announced the introduction of its embedded antennas into its lineup. These chip antennas are surface-mounted and offer excellent electrical performance up to 8.5 GHz
Global Lattice and Telescopic Boom Market Scope
The lattice and telescopic boom market is segmented on the basis of mobile cranes, fixed cranes and operation. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Mobile Cranes
- Lattice & Telescopic Boom
- Crawler
- Rough Terrain
- All-Terrain
- Truck Loader
Fixed Cranes
- Industrial
- Tower
- Ship-to-Shore
Operation
- Hydraulic
- Electric
Global Lattice and Telescopic Boom Market Region Analysis/Insights
The Global lattice and telescopic boom market is analyzed and market size insights and trends are provided by country, mobile cranes, fixed cranes and operation as referenced above.
The countries covered in the market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina and rest of South America.
North America is expected to dominate the market due to North America being home to renowned research institutions, universities, and technology companies that conduct cutting-edge research. Also the demand from the growing smart city projects and redevelopment in the region is boosting the market.
Asia-Pacific is expected to be fastest-growing country in the market due to the Asia-Pacific region has a large and rapidly growing population, along with a significant increase urban population. Furthermore, the increasing utilization of mobile cranes in the oil & gas sector has contributed to this upward trend, as these industries require reliable and safe equipment for their complex operations.
The country section of the report also provides individual market-impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, and Porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and the challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the region data.
Competitive Landscape and Global Lattice and Telescopic Boom Market Share Analysis
The Global lattice and telescopic boom market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus related to the Global lattice and telescopic boom market.
Some of the major players operating in the Global lattice and telescopic boom market are:
- Konecranes (Finland)
- Liebherr (Switzerland)
- Tadano Ltd. (Japan)
- The Manitowoc Company, Inc. (U.S.)
- Zoomlion Heavy Industry Science & Technology Co., Ltd. (China)
- Terex Corporation (U.S.)
- Ingersoll Rand (U.S.)
- PALFINGER AG (Austria)
- Columbus McKinnon Corporation (U.S.)
- KOBE STEEL, LTD. (Japan)
- XCMG Group (China)
- Sumitomo Heavy Industries, Ltd. (Japan)
- ABUS Kransysteme GmbH (Germany)
- Mammoet (Netherlands)
- KATO WORKS CO., LTD. (Japan)
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