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In 2023, the truck-mounted crane market was estimated to be worth $12.59 billion. Forecasts indicate that the truck mounted crane market will expand from $13.44 billion in 2024 to $19.49 billion in 2031, a CAGR (compound annual growth rate) of 7.63% from 2024 to 2031.
Truck loader crane, truck mounted crane, and HIAB are all terms that describe the same type of crane truck. Attached to a truck's rear end, this crane serves as a piece of construction machinery. With its unique design, it can load and unload heavy objects directly off the truck, eliminating the need for a forklift, telehandler, or separate crane. It is a kind of mobile crane that may be moved by itself or mounted on trucks and features a hydraulically powered crane with an attached telescopic boom. A cable fastened to the crawler or carriers with rubber tires controls this.
Coal, metals, and minerals are in high demand due to the increasing need for mining and building equipment. This is reflective of broader macroeconomic tendencies, like the increased demand for coal, metals, and minerals brought about by mining operations and infrastructure growth across numerous industries. Construction and mining operations and activities cannot be carried out without truck-mounted cranes. Use them on construction and mining sites to cut down on labor expenses and time spent on tasks like drilling, crushing, pulverizing, material breaking, and surface and underground mining. There has been an increase in both the construction industry's prominence and the need for truck-mounted cranes due to the region's improving financial circumstances and the development of new infrastructure. In addition, the demand for truck-mounted cranes is being driven by the rapid expansion of the industrial sector in the Asia-Pacific area and the expansion of rapidly developing economies like China and India.
Worldwide economic growth could reach 3.6% in 2024, according to the International Monetary Fund, which bodes well for the infrastructure industry around the world. Rising building activities and better economic conditions in many nations are driving the truck mounted cranes sector forward. The growth of the construction and mining sectors is anticipated to stimulate the truck mounted cranes market. Growing demand for truck-mounted cranes is anticipated to be propelled by the international development of the oil and gas, utilities, commercial, automotive, and mining sectors. About 4.7% of its total market share is accounted for by these cranes. The expansion can be largely attributable to their growing use in the electrical and telecommunications sectors, as well as in infrastructure construction projects.
Massive disruption to daily life and social fabric has resulted from the new coronavirus's quick global spread. From its humble beginnings as a health crisis, it has grown into a major danger to international commerce, the economy, and the financial system. Many products in the truck-mounted crane industry have been put on hold as a result of the COVID-19 epidemic and the ongoing lockdown in important countries throughout the world. Market participants in the truck-mounted crane industry can sustain a total shutdown for a certain amount of time before they will need to rethink their investment strategies. Additionally, with the COVID-19 vaccine now available, the number of cases is anticipated to decrease in the near future. Also, truck-mounted crane businesses are likely to start up again at full capacity as a result of this, which means the market for these machines should start to revive by early 2023. Equipment and machinery manufacturers must prioritize the safety of their employees, operations, and supply networks once the number of COVID-19 infections begins to fall. Only then will they be able to address pressing situations and implement innovative approaches to their work.
Heavy machinery is essential in the construction sector for material movement, and among the most effective and adaptable pieces of machinery is the truck-mounted crane. Because of their small size and ease of maneuverability, truck-mounted cranes are ideal for building sites with limited or hard-to-reach areas. Because of their speed and efficiency, they are indispensable to construction businesses for lifting and transporting huge items. Numerous industries make use of truck-mounted cranes, not only construction but also transportation, mining, and the oil and gas industry. There will likely be a further uptick in the need for truck-mounted cranes as these sectors keep expanding. A number of industries, including construction, are driving demand for truck-mounted cranes, which should lead to further market growth in the years to come.
Report Coverage
Global Truck-Mounted Crane research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Truck-Mounted Crane report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Truck-Mounted Crane competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Truck-Mounted Crane market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Truck-Mounted Crane market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Truck-Mounted Crane market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sany Group, Kawasaki Heavy Industries, Ltd., Palfinger AG, Kobelco Construction Machinery Co., Ltd., Liebherr-International AG, KLUBB, Terex Corporation, Furukawa Unic Corporation, Action Construction Equipment (ACE) Ltd., HYVA, Tadano Ltd, Elliott Equipment Company, The Manitowoc Company, Liebherr Group, Altec Industries, Kato Works Co Ltd, Bocker Maschinenwerke, Hidrokon Ltd.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Truck-Mounted Crane market based on the below-mentioned segments:
Global Truck-Mounted Crane Market, By Type
Mounted Cranes
Sidelift Cranes
Boom Truck Cranes
Others
Global Truck-Mounted Crane market, By Application
Construction
Utilities
Industries
Others
Global Truck-Mounted Crane Market, By End User
Residential and commercial buildings
Infrastructure
Manufacturing
Utilities
Global Truck-Mounted Crane market, Regional Analysis
Truck loader crane, truck mounted crane, and HIAB are all terms that describe the same type of crane truck. Attached to a truck's rear end, this crane serves as a piece of construction machinery. With its unique design, it can load and unload heavy objects directly off the truck, eliminating the need for a forklift, telehandler, or separate crane. It is a kind of mobile crane that may be moved by itself or mounted on trucks and features a hydraulically powered crane with an attached telescopic boom. A cable fastened to the crawler or carriers with rubber tires controls this.
Coal, metals, and minerals are in high demand due to the increasing need for mining and building equipment. This is reflective of broader macroeconomic tendencies, like the increased demand for coal, metals, and minerals brought about by mining operations and infrastructure growth across numerous industries. Construction and mining operations and activities cannot be carried out without truck-mounted cranes. Use them on construction and mining sites to cut down on labor expenses and time spent on tasks like drilling, crushing, pulverizing, material breaking, and surface and underground mining. There has been an increase in both the construction industry's prominence and the need for truck-mounted cranes due to the region's improving financial circumstances and the development of new infrastructure. In addition, the demand for truck-mounted cranes is being driven by the rapid expansion of the industrial sector in the Asia-Pacific area and the expansion of rapidly developing economies like China and India.
Worldwide economic growth could reach 3.6% in 2024, according to the International Monetary Fund, which bodes well for the infrastructure industry around the world. Rising building activities and better economic conditions in many nations are driving the truck mounted cranes sector forward. The growth of the construction and mining sectors is anticipated to stimulate the truck mounted cranes market. Growing demand for truck-mounted cranes is anticipated to be propelled by the international development of the oil and gas, utilities, commercial, automotive, and mining sectors. About 4.7% of its total market share is accounted for by these cranes. The expansion can be largely attributable to their growing use in the electrical and telecommunications sectors, as well as in infrastructure construction projects.
Massive disruption to daily life and social fabric has resulted from the new coronavirus's quick global spread. From its humble beginnings as a health crisis, it has grown into a major danger to international commerce, the economy, and the financial system. Many products in the truck-mounted crane industry have been put on hold as a result of the COVID-19 epidemic and the ongoing lockdown in important countries throughout the world. Market participants in the truck-mounted crane industry can sustain a total shutdown for a certain amount of time before they will need to rethink their investment strategies. Additionally, with the COVID-19 vaccine now available, the number of cases is anticipated to decrease in the near future. Also, truck-mounted crane businesses are likely to start up again at full capacity as a result of this, which means the market for these machines should start to revive by early 2023. Equipment and machinery manufacturers must prioritize the safety of their employees, operations, and supply networks once the number of COVID-19 infections begins to fall. Only then will they be able to address pressing situations and implement innovative approaches to their work.
Heavy machinery is essential in the construction sector for material movement, and among the most effective and adaptable pieces of machinery is the truck-mounted crane. Because of their small size and ease of maneuverability, truck-mounted cranes are ideal for building sites with limited or hard-to-reach areas. Because of their speed and efficiency, they are indispensable to construction businesses for lifting and transporting huge items. Numerous industries make use of truck-mounted cranes, not only construction but also transportation, mining, and the oil and gas industry. There will likely be a further uptick in the need for truck-mounted cranes as these sectors keep expanding. A number of industries, including construction, are driving demand for truck-mounted cranes, which should lead to further market growth in the years to come.
Report Coverage
Global Truck-Mounted Crane research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Truck-Mounted Crane report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Truck-Mounted Crane competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Truck-Mounted Crane market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2031 |
| Base Year | 2023 |
| Forecast Period | 2023-2031 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Sany Group, Kawasaki Heavy Industries, Ltd., Palfinger AG, Kobelco Construction Machinery Co., Ltd., Liebherr-International AG, KLUBB, Terex Corporation, Furukawa Unic Corporation, Action Construction Equipment (ACE) Ltd., HYVA, Tadano Ltd, Elliott Equipment Company, The Manitowoc Company, Liebherr Group, Altec Industries, Kato Works Co Ltd, Bocker Maschinenwerke, Hidrokon Ltd. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Truck-Mounted Crane Market from 2021 to 2031.
- Market Forecast for Truck-Mounted Crane Market from 2021 to 2031.
- Regional Market Share and Revenue from 2021 to 2031.
- Country Market share within region from 2021 to 2031.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Truck-Mounted Crane competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Truck-Mounted Crane
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Truck-Mounted Crane market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Truck-Mounted Crane market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Sany Group, Kawasaki Heavy Industries, Ltd., Palfinger AG, Kobelco Construction Machinery Co., Ltd., Liebherr-International AG, KLUBB, Terex Corporation, Furukawa Unic Corporation, Action Construction Equipment (ACE) Ltd., HYVA, Tadano Ltd, Elliott Equipment Company, The Manitowoc Company, Liebherr Group, Altec Industries, Kato Works Co Ltd, Bocker Maschinenwerke, Hidrokon Ltd.
Primary Target Market
- Market Players of Truck-Mounted Crane
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2031. INFINITIVE DATA EXPERT has segmented the global Truck-Mounted Crane market based on the below-mentioned segments:
Global Truck-Mounted Crane Market, By Type
Mounted Cranes
Sidelift Cranes
Boom Truck Cranes
Others
Global Truck-Mounted Crane market, By Application
Construction
Utilities
Industries
Others
Global Truck-Mounted Crane Market, By End User
Residential and commercial buildings
Infrastructure
Manufacturing
Utilities
Global Truck-Mounted Crane market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
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