Truck Mounted Crane

Truck Mounted Crane

Global Truck Mounted Crane Market to Reach US$18.1 Billion by 2030

The global market for Truck Mounted Crane estimated at US$12.3 Billion in the year 2023, is expected to reach US$18.1 Billion by 2030, growing at a CAGR of 5.8% over the analysis period 2023-2030. Knuckle Boom, one of the segments analyzed in the report, is expected to record a 6.3% CAGR and reach US$11.5 Billion by the end of the analysis period. Growth in the Stiff Boom segment is estimated at 4.8% CAGR over the analysis period.

The U.S. Market is Estimated at US$3.3 Billion While China is Forecast to Grow at 9.3% CAGR

The Truck Mounted Crane market in the U.S. is estimated at US$3.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.1 Billion by the year 2030 trailing a CAGR of 9.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.9% and 4.7% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR.

Global Truck Mounted Crane Market - Key Trends & Drivers Summarized

What Are Truck Mounted Cranes and Why Are They Crucial?

Truck mounted cranes are versatile lifting machines mounted on commercial trucks, used for loading, unloading, and transporting heavy materials. These cranes combine the mobility of trucks with the lifting capacity of cranes, making them essential for construction, logistics, and industrial applications. Truck mounted cranes are crucial for tasks that require both transportation and lifting, such as construction site operations, utility maintenance, and material handling. Their ability to move quickly between job sites and perform a wide range of lifting tasks makes them valuable assets in various industries.

How Have Technological Innovations Shaped the Market?

Technological innovations have significantly influenced the design and functionality of truck mounted cranes. Advances in hydraulic systems have improved the lifting capacity and precision of these cranes, enabling them to handle heavier loads with greater control. The integration of advanced control systems, including remote and automated controls, has enhanced the safety and efficiency of crane operations. The development of lightweight and high-strength materials has increased the durability and mobility of truck mounted cranes, allowing for more versatile applications. Additionally, advancements in engine and fuel technologies have improved the environmental performance and fuel efficiency of truck mounted cranes, addressing sustainability concerns. These technological advancements have expanded the capabilities and applications of truck mounted cranes, driving their adoption in various sectors.

Who Are the Major Users and What Are Their Needs?

The major users of truck mounted cranes include construction companies, logistics providers, and utility maintenance firms. Construction companies use these cranes for lifting and transporting materials on construction sites, requiring cranes that offer high lifting capacity, mobility, and reliability. Logistics providers rely on truck mounted cranes for loading and unloading goods, demanding cranes that provide efficient and safe material handling. Utility maintenance firms use truck mounted cranes for tasks such as repairing and installing utility poles and equipment, seeking cranes that offer precision and ease of operation. Each user group values truck mounted cranes that provide versatility, durability, and efficiency to meet their specific operational needs.

What Is Driving Growth in the Truck Mounted Crane Market?

The growth in the truck mounted crane market is driven by several factors, including the expanding construction industry, increasing infrastructure development, and advancements in crane technology. The growing construction industry, driven by urbanization and infrastructure projects, has increased the demand for versatile and mobile lifting equipment like truck mounted cranes. Increasing infrastructure development, including transportation, utilities, and energy projects, has further fueled the demand for these cranes. Advancements in crane technology, including improved hydraulic systems, advanced control mechanisms, and lightweight materials, have enhanced the performance and appeal of truck mounted cranes. Additionally, the rising focus on operational efficiency and safety in material handling and construction activities has supported the adoption of truck mounted cranes in various sectors.

Select Competitors (Total 47 Featured) -

• Altec Industries, Inc.
• Bocker Maschinenwerke GmbH
• Elliott Equipment Company
• Kato Works Co., Ltd.
• Liebherr-International AG (Liebherr Group)
• Link-Belt Cranes
• Manitex International, Inc.
• Manitowoc Co., Inc.
• MPG Makina Produksiyon Grubu
• Ormig SpA
• Sany Group Co., Ltd.
• Tadano Ltd.
• Terex Corporation
• Xuzhou Construction Machinery Group Co., Ltd.

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