MarketResearchReports.com has found out that economic slowdown has affected the demand of new mobile crane orders worldwide

Lewes, DE -- (SBWire) -- 05/10/2017 --Liebherr's 2016 financials are out, which shows that mobile and tower crane sales declined 4.5 percent to 2.48 billion. Of this mobile crane sales were down to 2.07 billion a decline of 4%. In terms of geographic spread 47.6 percent of mobile crane sales were in Western Europe, 7.1 percent in Eastern Europe, 24.4 percent in the Americas and 11.8 percent in the Far East and Australasia. The rest contribute from the Middle East.

Another major player Manitowoc Company Inc. reported its third-quarter 2016 net sales were $349.8 million, compared to $438.2 million during same period in 2015. CAGR decrease was primarily due to continued deterioration within the company's mobile crane markets, mainly in North America and the Middle East.

Terex the North American Market Leader has reported crane sales of $1.27bn in 2016, down 18.6% compared to the previous year. In the fourth quarter of 2016, crane sales dropped 19.5% year-on-year to $327m.

The slump has been reported due to lazy growth In North America. Oil prices are still too low to stimulate new demand and there's a significant inventory of low hour used cranes available to compete with new crane sales. Australia, Middle East, Latin America and other commodity-driven markets have also shown low growth pattern. China, the biggest contributors in Global Construction Market will also breathing heavily under their negative economic growth.

Global Demand Analysis of Mobile Crane Market (Unit) 2010-2015

All above mentioned situations are contributing in negative growth in Mobile crane market. Emerging economies like India, Sri Lanka still posses hope for crane players as local government is pushing development agendas. We will have to see how scenarios get unfolded in near future.

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