Wheel Crane Market

The global Wheel Crane market was valued at USD 16.23 Billion in 2020 and is projected to reach USD 26.56 Billion by 2028, growing at a CAGR of 6.35% from 2021 to 2028.

A wheel crane is a cable-controlled crane installed on a wheeled vehicle. They are created to easily carry to a site and used with various types of load and cargo with limited or no setup or equipment.

This report provides an analysis of the Wheel Crane market for the historic period of 2016–2019 and forecasts for 2021–2028 while 2020 is considered as a base year for estimations. The report includes exhaustive analysis of segments, regions and countries comprising of market size and estimations in terms of revenue for the years 2016–2028. There regional section of the report is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Moreover, the report also covers exhaustive information on growth factors/drivers, restraints, opportunities, regulatory landscape and technology roadmap among others. Moreover, the report also includes exhaustive SWOT analysis, PEST analysis, value chain analysis, and Porter’s five forces analysis on Wheel Crane market. This data is likely to help the industry stakeholders and stimulate the decision-making process.

The COVID-19 outbreak has affected various industries worldwide. The Wheel Crane market is no exception. Governments across the world took severe actions like border seals, lockdown, and implementing strict social distancing measures, in order to stop swift spread of COVID-19. These actions led to severe impact on the global economy. Industrialist across the globe were forced to halt their production, leading to supply chain disruptions and impairing of various industries. However, it is expected that reopening of trade activities, the market will witness steady growth in demand in the coming years. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends for all the regions and countries.

The report provides a completely separate chapter for COVID-19 Impact Analysis. This chapter includes:

o   Impact Assessment of COVID-19 Pandemic

o   Pre & Post COVID-19 Market Size

o   Qualitative analysis on the short term & long-term impact of COVID-19 on the market

o   The analysis provides foremost strategies adopted by competitors to minimize the impact of the pandemic on their business activities and scope for future developments.

The primary factor that is driving the wheel cranes market is the increasing mega constructional activities in several developing regions and the increasing demand for the smart cities. The major factors that favors the growth of the market is rise in the investments that are made by the private sector organizations and the government for the infrastructural development. Furthermore, the growing demand for the high capacity lifting triggers the demand for the specialized products which include mobile cranes which is also expected to support the growth of the market in the years to come. 

The rising demand for the wheel crane from the emerging economies of Asia Pacific such as India, China, Indonesia, and Thailand is also expected to fuel the growth of the wheel crane market in the years to come. 

The high cost of installation is expected to hinder the growth of the wheel crane market in the years to come.

The report delivers an acute breakdown of the market based on various segments such as Type, Application, , and region. The report includes market size and forecast for each segment by region/country for the years 2016–2028. Moreover, it also covers a thorough analysis of growth factors and opportunities impacting segmental growth.

On the basis of Type, the market is divided into Truck-mounted, Sidelifter, All Terrain, Rough Terrain, Telescopic Handler. Mercaptans dominated the global Wheel Crane market in 2020 and is projected to witness the same trend during the forecast period.

Based on Application, the market is segmented into Oil & Gas, Utilities, Construction, Shipping & Port Building, Other End Users. Food & Beverages accounted for the highest market share and is expected to grow at a significant CAGR from 2021 to 2028. 

Based on the geography, the global Wheel Crane market is segmented into North America, Latin America, Asia Pacific, Europe, and the Middle East & Africa. Moreover, the regional sections if further bifurcated into key country level markets for better understanding of the market.

The report covers detailed analysis on drivers, business opportunities, regulatory norms, supplier concertation and such other factors impacting regional growth. Moreover, it also covers market estimations and forecast for each segment for each region for the years 2016–2028. 

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • UK
  • France
  • Germany
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Rest of Latin America
• Middle East and Africa
  • GCC Countries
  • South Africa
  • Rest of MEA

The global Wheel Crane market report provides an exhaustive competitive landscape to give a comprehensive synopsis of the global market. Major players in the Wheel Crane market are XCMG Construction Machinery, Hitachi Sumitomo Heavy Industries Construction Crane, The Manitowoc Company, KATO WORKS, Liebherr Group, Terex Corporation, Sany Heavy Industry, Tadano, Zoomlion Heavy, Industry Science and Technology, Kobelco Construction Machinery..  This section of the report provides in depth analysis on key market players based on various parameters such as business overview, portfolio analysis, business strategies, financial performance, geographical presence, and recent developments among others. It will also include information on key strategies adopted by major market players. 

• The global Wheel Crane market was valued at USD 16.23 Billion in 2020
• The global Wheel Crane Market is projected to reach USD 26.56 Billion by 2028
• Asia Pacific held the highest share of the Wheel Crane market in 2020
• Some of the major companies operating in the Wheel Crane market are XCMG Construction Machinery, Hitachi Sumitomo Heavy Industries Construction Crane, The Manitowoc Company, KATO WORKS, Liebherr Group, Terex Corporation, Sany Heavy Industry, Tadano, Zoomlion Heavy, Industry Science and Technology, Kobelco Construction Machinery.