Global Truck-Mounted Crane Market growing at a CAGR of 5.5% from 2023 to 2030
Category : Machinery and Equipment | Published Date : May 2023 | Type : Press Release
Key Market Overview
The truck-mounted market is expected to reach USD 17,432.37 Million by 2030. The market, which was valued at USD 11,621.93 Million in 2022, is predicted to grow at a compound annual growth rate of 5.5% during the period 2023-2030.
The report highlights the increasing adoption of truck-mounted cranes in many industrial settings to monitor crane performance in real time. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the wire bonder equipment market.
Global Truck-Mounted Crane Market By Overview
The report analyses significant segments such as product, terrain type, drive, capacity, end-user, and region, to identify emerging trends and potential opportunities. The rough-terrain crane segment is expected to grow during the forecast period owing to the ability of rough-terrain cranes to provide low axle weight and narrow transport width offering maximum lifting capacities. Additionally, the cranes also offer rugged durability, low-cost servicing, and maximum torque and is expected to drive the growth of the market during the forecast period.
Get Free SampleMarket Dynamics
Driver:
- The growing demand from the construction industry to lift heavy loads drives the growth of the truck-mounted crane market
- The increasing government investment to improve the infrastructure propels the growth of the market
- The emergence of advanced technology such as control systems to monitor the crane performance in real-time contributes significantly in boosting the market growth
Restraints:
- The cost of production of truck-mounted cranes is expensive that limits the adoption of cranes by small enterprises, restraining the growth of the market.
- The inability of truck-mounted cranes to function efficiently for long periods of time hampers the market growth.
Market Segmentation:
| Report Attributes | Report Details |
| By Product | Knuckle Boom Cranes, Short Knuckle Boom Cranes, Stiff Boom Cranes, Recycling Cranes, Telescopic Cranes, and Z-fold grab Cranes |
| By Terrain Type | Rough-terrain and All-terrain |
| By Drive | Electric, Hydraulic, and Mechanical |
| By Capacity | Below 15 Ton, 15-30 Ton, 30-50 Ton, and above 50 Ton |
| By End-Use Industry | Agriculture, Construction, Logistics and Transportation, Mining, and Others |
| By Region | North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa |
Competitive Landscape :
As per the study, the market is dominated by certain major companies such as Bocker Maschinenwerke, Hiab (Cargotec Corporation), Elliott Equipment Company, and Furukawa UNIC that have a strong market position in current market circumstances. Further, the truck-mounted crane market is expected to witness significant growth in coming years owing to the advancements in technology and increasing adoption of the cranes in transportation, construction, and logistics company. The market players compete for a firm market position through mergers and acquisitions, product innovations, and business strategies. Thus, evolving research and developments in the Truck-Mounted Crane market are expected to help market players adopt innovative ways of product creation to cater to the growing needs of various end-use industries.
- Bocker Maschinenwerke
- Hiab (Cargotec Corporation)
- Elliott Equipment Company
- Furukawa UNIC
- Tadano Ltd.
- IMT
- KATO WORKS
- Liebherr
- Liugong Machinery
- Manitex International
- Manitowoc
