Crane Trucks Market Size - By Offering (Lattice Boom Crane Truck, Telescopic Crane Truck, Knuckle Boom Crane Truck), By Application (Construction, Utility, Mining), By Lifting Capacity & Regional Outlook & Forecast, 2024 - 2032

Crane Trucks Market Size - By Offering (Lattice Boom Crane Truck, Telescopic Crane Truck, Knuckle Boom Crane Truck), By Application (Construction, Utility, Mining), By Lifting Capacity & Regional Outlook & Forecast, 2024 - 2032

Crane trucks market size is estimated to record over 6.5% CAGR between 2024 and 2032, driven by the increasing construction and infrastructure development activities. With the accelerating urbanization and expansion of cities, there is a rising demand for efficient lifting and material handling solutions on construction sites. As per Worldbank.org, the global urban population is growing rapidly and is projected to reach 6 billion by 2045.

Crane trucks offer versatility and mobility, allowing quick setup and operation in various terrains and environments. They lift heavy materials while facilitating construction projects ranging from residential buildings to large-scale infrastructure developments, such as bridges and highways. Moreover, innovations are not only increasing productivity but also reducing downtime, making crane trucks a preferred choice for contractors and construction firms seeking to optimize project timelines and costs.

The overall industry is divided into offering, lifting capacity, application, and region.

Based on offering, the crane trucks market from the telescopic crane truck segment is poised to depict a decent growth rate between 2024 and 2032 owing to its versatility and capability to reach greater heights and distances compared to traditional crane designs. Telescopic crane trucks feature extendable booms that can be adjusted to varying lengths, allowing operators to lift loads at different heights and reach difficult-to-access areas on construction sites.

Crane trucks market from the mining application segment will generate notable revenue by 2032 owing to extensive reliance on heavy-duty equipment for material handling and extraction activities in rugged terrains. Crane trucks also help in mining operations by facilitating the lifting and movement of heavy materials, equipment, and components across various stages of the mining process.

North America crane trucks industry is slated to witness significant growth through 2032 attributed to robust infrastructure development, significant investments in construction projects, and stringent safety regulations. The expanding urbanization and industrialization are driving the demand for crane trucks in various construction applications like residential and commercial building projects as well as infrastructure expansions such as roads, bridges, and utilities. Stringent safety standards and regulations for mandating the use of reliable and technologically advanced crane trucks are also stimulating regional market growth.