Construction companies buying and renting mobile cranes currently comprise a worldwide market in excess of $9 billion.
But the increased demand for those cranes could see that market increase to around $14 billion in the next four years.
So says a report compiled by the Rockville, Maryland-based research firm Fact. MR, which also notes that manufacturers are in the process of making new cranes with reduced size, weight, and cost, in a response to market demand.
The report, Mobile Construction Cranes Market Forecast, says that new cranes are being developed with an emphasis on specific measures for boom angle, wind speed, and crane level.
The cranes, controlled by cable and mounted on carriers or crawlers, are particularly popular with Asia Pacific, Middle East, and African contractors.
But, as in other parts of the larger construction industry, the mobile crane business is currently challenged by a shortage of skilled labor.
“Hiring skilled labor to operate and manage mobile construction cranes is important to avoid accidents, break-downs, and ensure completion on time and in the allotted budget,” notes a press release from Fact. MR.
The research firm also notes that “hiring people to install, dismantle, and operate mobile construction cranes is the most significant cost of owning a crane.”
By Garry Boulard
