At what pace is the truck mounted crane market growing, and what is its estimated value?
The truck mounted crane market size has grown strongly in recent years. It will grow from $7.39 billion in 2024 to $7.8 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to construction and infrastructure development, expansion of logistics and transportation, renewable energy projects, oil and gas exploration activities, urbanization and construction trends.
The truck mounted crane market size is expected to see strong growth in the next few years. It will grow to $10.19 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to infrastructure maintenance and repair, telecommunication tower installation, continued growth in renewable energy, expanding port and shipping activities, government investments in public projects. Major trends in the forecast period include customization for specific applications, focus on ergonomics and operator comfort, integration with fleet management systems, rental and leasing services, global expansion and market penetration.
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What are the key forces behind the truck mounted crane market’s growth in recent years?
The rising construction of public infrastructure is expected to propel the growth of the truck mounted cranes market forward. Public infrastructure refers to facilities and structures that are developed and intended for the general public such as roads, public toilets, flyovers, and others. Truck mounted cranes are used in urban infrastructure development due to their flexibility in carrying raw materials and building blocks in very limited and crowded spaces. For instance, in February 2024, according to a report published by the Infrastructure and Projects Authority, a UK-based government agency, there are currently 660 projects and programs in the pipeline for investment across both public and private sectors. An investment of approximately $204 billion is planned for the period up to 2024/25. Over the next decade, an estimated $850-950 billion in planned and projected investments is anticipated. Additionally, $78 billion of these investments will involve the use of Modern Methods of Construction (MMC) within the next two years. Therefore, the increasing construction of public infrastructure is driving the truck mounted cranes market.
What are the major segments of the truck mounted crane market?
The truck mounted crane market covered in this report is segmented –
1) By Type: Articulating Cranes, Hydraulic Cranes, Telescopic Cranes, Other Types
2) By Drive: Electrical, Mechanical, Hydraulic
3) By Lifting Capacity: Below 15 Ton, 15 To 30 Ton, 30 To 50 Ton, Above 50 Ton
4) By End Use: Industrial, Commercial, Infrastructure, Other End Users
Subsegments:
1) By Articulating Cranes: Standard Articulating Cranes, Heavy-Duty Articulating Cranes
2) By Hydraulic Cranes: Truck-Mounted Hydraulic Cranes, All-Terrain Hydraulic Cranes
3) By Telescopic Cranes: Fixed Telescopic Cranes, Swing Arm Telescopic Cranes
4) By Other Types: Mini Cranes, Specialized Cranes
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Which companies dominate the truck mounted crane market?
Major companies operating in the truck mounted crane market include Liebherr Group, Xuzhou Construction Machinery Group Co Ltd., Kawasaki Heavy Industries Ltd., Sany Heavy Industry Co Ltd, Zoomlion Heavy Industry Science & Technology Co Ltd., F.lli Ferrari S.p.A., Terex Corporation, Liugong Machinery Co Ltd., Altec Inc., Palfinger AG, Tadano Ltd., KOBELCO Construction Machinery Co Ltd., Hyva Global B.V., Kato Works Co Ltd., Sims Crane & Equipment Co, Action Construction Equipment Ltd., Manitex International Inc, HMF Group, STAHL CraneSystems GmbH, Iowa Mold Tooling, Hidrokon, Effer S.p.A., Elliott Equipment Company, TIL Limited, Böcker Maschinenwerke GmbH, Furukawa Unic Corporation, Liaoning Fuwa Heavy Industry Machinery Co Ltd., Hydrauliska Industri AB, Fassi Gru S.p.A., Bonfiglioli Group, Cormach S.r.l., CraneWorks Inc., Altec Industries Inc., Amco Veba, UNIC Cranes Europe, Liftmoore Inc., KenzFigee
What major trends will shape the truck mounted crane market during the forecast period?
Major companies operating in the truck mounted cranes market are introducing innovative technologies to sustain their position in the market. Innovative technologies in truck-mounted cranes enhance safety, operational efficiency, and environmental sustainability, expanding their versatility and appeal across diverse industries. For instance, in March 2024, Hiab, a Sweden-based company, provides intelligent services and smart solutions designed to enhance load handling efficiency, launched the HIAB wspr, a next-generation electric hybrid crane solution designed to enhance load handling while promoting sustainability. This innovative product features a dual power source, allowing operation using both the truck engine and a separate electric power take-off (ePTO), making it particularly efficient for use in low- or no-emission zones. The HIAB wspr includes three model variants: a standard model suitable for larger market segments that can operate for 1-2 days on a full charge, a light-duty model tailored for drop-off applications with an integrated battery pack, and a heavy-duty model designed for extended working hours mounted directly on the truck chassis.
What are the key regional dynamics of the truck mounted crane market, and which region leads in market share?
The countries covered in the truck mounted crane market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The Truck Mounted Crane Market Report 2025 Offer?
The truck mounted crane market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
A truck-mounted crane is a specialized vehicle that integrates a crane onto a truck chassis, allowing for the transportation and lifting of heavy loads directly from the truck, making it versatile and efficient for various applications in industries such as construction, logistics, and utilities.
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