USD 12.25 Billion
Global Truck-Mounted Crane Market Size, Share, Growth Analysis, By Product type,(Telescopic Truck-Mounted Cranes, Knuckle Boom Truck-Mounted Cranes), By Lifting Capacity(Light Duty Truck-Mounted Cranes, Medium Duty Truck-Mounted Cranes), By End-User(Urban Construction, Rural Construction) - Industry Forecast 2023-2030
Report ID:
SQMIG20G2031 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
92 |
Figures:
76
Global Truck-Mounted Crane Market Insights
Global 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).
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.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Telescopic Truck-Mounted Cranes
Fastest Growth
Electric Control Truck-Mounted Cranes
Growth Rate
5.63% CAGR
Global Truck-Mounted Crane Market ($ Bn)
Country Share for Asia Pacific Region (%)
Global Truck-Mounted Crane Market By product type ($ Bn)
Global Truck-Mounted Crane Market By product type (%)
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Global Truck-Mounted Crane Market Segmental Analysis
The global Truck-Mounted Crane market is segmented into four major segments i.e. by Product type, Lifting Capacity, End-User Segmentation, and region. Based on Type, it is divided into Telescopic Truck-Mounted Cranes, Knuckle Boom Truck-Mounted Cranes, and others. Based on Lifting Capacity, it is bifurcated as Light Duty Truck-Mounted Cranes, Medium Duty Truck-Mounted Cranes, Heavy Duty Truck-Mounted Cranes, and others. Based on End-User Segmentation it is segregated into, Urban Construction, Rural Construction, Transportation and Logistics, and others. Based on region, the market is segmented into Asia-Pacific, North America, Europe, Middle East and Africa, and Latin America:
Analysis by Type
Telescopic Truck-Mounted Cranes have typically held a substantial market share due to their versatility, offering extendable boom sections that provide enhanced reach and height. This versatility makes them suitable for a wide range of applications, contributing to their popularity. Moreover, with increasing urbanization and infrastructure development in densely populated areas, the need for cranes that can operate efficiently in confined spaces favors telescopic cranes.
Due to the environmental regulations become more stringent globally, Electric Control Truck-Mounted Cranes have gained popularity. Ongoing advancements in electric control systems contribute to improved accuracy, ease of operation, and overall efficiency. These technological benefits can drive the adoption of electric control truck-mounted cranes. The broader trend toward electrification in various industries, driven by the need for cleaner and more sustainable practices, is likely to influence the preference for electric control truck-mounted cranes.
Analysis by End-User
Construction Industry has long dominated the global Truck-Mounted Crane market due to the demand is often closely tied to infrastructure development projects. As countries invest in building and upgrading their infrastructure, the construction sector tends to be a dominant consumer of these cranes.
The Renewable Energy and Power Sector market’s fastest-growing segment due to the installation and maintenance of wind turbines, especially in the renewable energy sector, require specialized lifting equipment. Truck-mounted cranes, particularly those with higher lifting capacities, are crucial for handling heavy components in wind farms. Government incentives and policies promoting renewable energy projects can drive growth in this segment, leading to increased demand for truck-mounted cranes.
Global Truck-Mounted Crane Market By product type, 2022 (%)
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Global Truck-Mounted Crane Market Regional Insights
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.
Middle East, in particular, has been investing significantly in infrastructure development, driven by economic diversification efforts. Large-scale projects, such as those related to energy, transportation, and real estate, contribute to the demand for truck-mounted cranes The region is a major player in the oil and gas industry. Truck-mounted cranes are crucial for lifting heavy equipment and materials in exploration, drilling, and extraction operations.
Global Truck-Mounted Crane Market By Region, 2024-2031
- Largest
- Fastest
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Global Truck-Mounted Crane Market Dynamics
Drivers
Increasing Surge in Construction and Infrastructure Development
- 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.
Restraints
Impact of Stringent Regulatory Compliance Standards
- One of the main market restraints is adhering to increasingly complex emissions and safety regulations can pose a considerable burden on manufacturers, affecting both production processes and costs. Another restraint lies in the high initial cost associated with acquiring truck-mounted cranes. The substantial investment required may deter small and medium-sized enterprises from entering the market or upgrading their existing equipment.
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Global Truck-Mounted Crane Market Competitive Landscape
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.
Top Player’s Company Profiles
- 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
Recent Developments
- May 2022: American Trailer World, a manufacturer based in the United States specializing in trucks and trailers, has entered into a strategic partnership with Tiger Cranes. The primary goal of this collaboration is to create innovative designs for premium truck crane bodies, ultimately enhancing the lifting capabilities of their products.
- March 2022: Hyva Pacific, a specialist in loader cranes based in Australia, has successfully acquired Truck Cranes Australia Pty Ltd. Situated in the southern region of Brisbane, Queensland, TCA is now under the ownership of Hyva Pacific.
Global Truck-Mounted Crane Key Market Trends
- 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.
Global Truck-Mounted Crane Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global Truck-Mounted Crane market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The increasing surge in infrastructure projects and construction activities. However, stringent regulatory compliance poses a challenge. Telescopic cranes dominate due to their versatility, while electric control systems witness rapid adoption for environmental reasons.
Additionally, Asia-Pacific leads in market share, propelled by robust urbanization and industrialization, while the Middle East and Africa exhibit promising growth with infrastructure investments. Key trends include telematics integration for efficient operations and a notable shift towards eco-friendly technologies, aligning with global sustainability goals.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 12.25 Billion |
| Market size value in 2031 | USD 20.05 Billion |
| Growth Rate | 5.63% |
| Base year | 2022 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Truck-Mounted Crane Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Truck-Mounted Crane Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Truck-Mounted Crane Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Truck-Mounted Crane Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Truck-Mounted Crane Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Truck-Mounted Crane Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Truck-Mounted Crane Market Report Snapshots
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