Truck-Mounted Crane Market Updates

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).

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.