The Mobile Cranes Market in Japan has experienced a steady decline over the last decade, moving from a peak value of 1.0541 billion USD in 2013 to 0.67124 billion USD in 2023. The market showed a significant yearly decrease, particularly between 2017 and 2020, with a modest recovery by 2021. In 2023, the market value stood at 0.67124 billion USD, marking a 3.02% decrease from the previous year.
Variations over the last two years indicate continued contraction, with Year-on-Year (YoY) decreases of 2.99% in 2022 and 3.02% in 2023. The Compound Annual Growth Rate (CAGR) over the past five years averaged -2.97%, while the forecast CAGR for the next five years until 2028 is projected at -2.82%, suggesting an overall decline of 13.32% from 2024.
Future trends to watch for include technological advancements in mobile crane operations, increasing automation, and potential shifts in construction demand due to demographic changes and economic factors in Japan. Environmental regulations and sustainability initiatives may also impact market dynamics.
