What is the global market size of Truck-Mounted Crane Market?

Global Truck-Mounted Crane Market size was valued at USD 11.48 billion in 2021 and is poised to grow from USD 12.25 billion in 2022 to USD 19.40 billion by 2030, growing at a CAGR of 5.63% in the forecast period (2023-2030).

Truck-Mounted Crane Market Size, Share, Growth Analysis, By Product type,(Telescopic Truck-Mounted Cranes, Knuckle Boom Truck-Mounted Cranes, and others), By Lifting Capacity(Light Duty Truck-Mounted Cranes, Medium Duty Truck-Mounted Cranes, Heavy Duty Truck-Mounted Cranes, and others), By End-User(Urban Construction, Rural Construction, Transportation and Logistics, and others.), By Region - Industry Forecast 2025-2032

Report ID: SQMIG20G2031 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 92 | Figures: 76

Truck-Mounted Crane Market Insights

Truck-Mounted Crane Market size was valued at USD 12.94 Billion in 2023 and is poised to grow from USD 13.67 Billion in 2024 to USD 21.18 Billion by 2032, growing at a CAGR of 5.63% during the forecast period (2025-2032).

In recent years, the global Truck-Mounted Crane market has been changing demands by increasing construction and infrastructure development activities worldwide as it is versatile equipment widely used in various industries, including construction, transportation, and logistics. As countries invest in building and upgrading their infrastructure, the need for efficient lifting and material handling solutions, such as truck-mounted cranes, rises.

However, stringent regulations regarding emissions and safety standards may pose challenges for manufacturers. Adhering to these regulations while maintaining the performance and efficiency of truck-mounted cranes is a continuous challenge. The initial cost of acquiring truck-mounted cranes can be relatively high, which might be a limiting factor for small and medium-sized enterprises.

Truck-Mounted Crane Market Report Snapshots

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Truck-Mounted Crane Market size was valued at USD 12.25 Billion in 2022 and is poised to grow from USD 12.94 Billion in 2023 to USD 20.05 Billion by 2031, growing at a CAGR of 5.63% in the forecast period (2024-2031).

The competitive environment of the Truck-Mounted Crane market is dynamic and characterized by the presence of several key players vying for market share through strategic initiatives and technological advancements. The market is also marked by collaborations, mergers, and acquisitions as companies seek to expand their product portfolios and geographical presence. Regional players often compete by offering cost-effective solutions tailored to local market needs. 'Action Construction Equipment (ACE) Ltd.', 'Furukawa Unic Corporation', 'HYVA', 'Kawasaki Heavy Industries, Ltd.', 'Liebherr-International AG', 'KLUBB', 'Palfinger AG', 'Kobelco Construction Machinery Co., Ltd.', 'Sany Group', 'Terex Corporation', 'Xuzhou Construction Machinery Group Co., Ltd. (XCMG)', 'Manitex International Inc. (Badger Equipment Company)', 'Broderson Manufacturing Corporation (Lanco International Inc.)', 'IHI Corporation', 'Link-Belt Cranes (Sumitomo Heavy Industries Ltd.)', 'Tadano', 'ZOOMLION Heavy Industry Science & Technology Co., Ltd.', 'Cargotec Corporation', 'Konecranes Plc', 'Manitowoc Cranes'

The continuous expansion of urban areas and infrastructure projects has led to the demand for efficient lifting and material handling solutions, met by truck-mounted cranes. Additionally, the growth of the construction industry, both in mature markets and emerging economies, further fuels the need for these versatile cranes.

Discernible Shift Towards the Integration of Telematics Technology in these Cranes: The real-time tracking, predictive maintenance alerts, and performance optimization, enhancing overall operational efficiency. Another significant trend is the increasing emphasis on environmental sustainability, driving the development and adoption of hybrid and electric solutions within the truck-mounted crane sector. As regulations surrounding emissions become more stringent, the industry is responding by incorporating eco-friendly technologies.

The Asia-Pacific has historically dominated the Truck-Mounted Crane market due to the rapid urbanization and industrialization, driving the demand for construction and infrastructure development. Governments in the Asia-Pacific region have been heavily investing in large-scale infrastructure projects, creating a sustained demand for construction equipment, including truck-mounted cranes.

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Truck-Mounted Crane Market Insights

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