The mobile cranes market in South Korea saw fluctuations in its value over the past decade, peaking at $331.4 million in 2014 before experiencing a notable decline during 2020 at $249.12 million. In 2023, the market stood at $298.82 million. The year-on-year variation for the last two years was -0.15%, and the 5-year CAGR was -0.15%. Forecasted data from 2024 to 2028 projects a slight decrease in value, with an average annual decline of -0.12%, indicating a marginal downward trend reaching $296.54 million by 2028.
Future trends to watch for:
- Technological advancements and automation in mobile cranes.
- Impact of economic policies and infrastructure investments in South Korea.
- Global supply chain stability and material costs affecting production.
