Truck Mounted Crane Market: Industry Insights, Trends, Regional Breakdown, and Future Outlook 2030
Truck Mounted Crane Market Overview:
Truck-mounted
cranes have emerged as versatile and efficient lifting solutions in various
industries. With their ability to be mounted on trucks and other vehicles,
these cranes provide mobility, flexibility, and increased productivity in
material handling operations.
The Truck Mounted Crane Market Size is expected to witness significant
growth during 2023-2030, with projections indicating a rise from USD 11,621.93 Million
in 2022 to USD 17,432.37 Million By 2030 with witnessing a CAGR of 5.5%.
The truck-mounted crane market
has witnessed significant growth in recent years due to their widespread
applications across construction, oil and gas, transportation, and other
sectors.
Market Definition
A
truck-mounted crane is a hydraulic-powered crane that is mounted on a truck or
a vehicle chassis. It consists of a telescopic boom, a rotating turret, and a
hydraulic system that enables lifting and lowering of loads. The crane's
lifting capacity can vary depending on the model and configuration, ranging
from a few tons to several hundred tons.
Market Drivers
·
Increasing
investments in infrastructure projects, such as roads, bridges, and railways,
are driving the demand for truck-mounted cranes.
·
The
growth of renewable energy installations, such as wind farms and solar power
plants, requires truck-mounted cranes for installation and maintenance
purposes.
·
Integration
of advanced technologies, such as telematics, remote monitoring, and digital
control systems, enhances the efficiency and safety of truck-mounted cranes.
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Market Limitations
·
The
lifting capacity of truck-mounted cranes is limited compared to larger,
stationary cranes. Heavy loads may require specialized equipment or alternative
lifting methods.
·
Maintaining
stability during lifting operations is crucial to prevent accidents. Uneven
ground conditions or improper setup can pose stability risks.
·
Skilled
operators are essential for safe and efficient crane operations. Adequate
training and certification programs should be in place to ensure competency.
Market Segmentation
The truck-mounted crane market can be segmented based on various
factors to better understand its dynamics and cater to specific customer needs.
Market segmentation helps identify target markets, tailor marketing strategies,
and optimize product offerings. Here are some key segmentation criteria for the
truck-mounted crane market: By Product,
By Terrain Type, By Drive, By Capacity, By End-Use Industry and By Region.
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
Regional Analysis
The
truck-mounted crane market exhibits regional variations in terms of market
size, growth rate, and revenue generation. Among the different regions, North
America stands out as a significant contributor to the overall market revenue. The
region's strong presence is attributed to various factors, including robust
infrastructure development, ongoing construction projects, and significant
investments in the oil and gas industry. The demand for truck-mounted cranes in
North America is driven by the need for efficient and versatile lifting
solutions in urban construction projects, maintenance services, and logistics
operations.
Europe is
another prominent region in the truck-mounted crane market. The region exhibits
steady growth owing to the presence of advanced economies and a
well-established infrastructure sector.
The Asia
Pacific region is witnessing significant growth in the truck-mounted crane
market due to rapid urbanization, infrastructural developments, and increasing
investments in construction and industrial projects.
Latin
America and the Middle East and Africa represent growing markets for
truck-mounted cranes. In
Latin America, the demand is driven by infrastructure development projects,
including road construction, commercial building constructions, utility
installations, and the expanding oil and gas sector. Similarly, in the Middle
East and Africa region, the focus on infrastructure development, including the
construction of mega projects and urban expansions.
Competitive landscape
The truck-mounted crane market is highly competitive, with
several key players striving to gain a larger market share. These companies focus
on product innovations, strategic partnerships, and expansion into emerging
markets to maintain their competitive edge.
Here are some of the prominent players in the truck-mounted
crane market:
·
Bocker
Maschinenwerke
·
Hiab
(Cargotec Corporation)
·
Elliott
Equipment Company
·
Furukawa
UNIC
·
Tadano
Ltd.
·
IMT
·
KATO
WORKS
·
Liebherr
·
Liugong
Machinery
·
Manitex
International
·
Manitowoc
Key Highlights
·
The
truck-mounted crane market is experiencing a growing demand globally due to
increasing infrastructure development projects, industrial growth, and the need
for efficient material handling solutions.
·
Truck-mounted
cranes offer versatility and flexibility, allowing them to be easily
transported to different job sites.
·
Their
mobility eliminates the need for additional equipment, reducing project time
and expenses.
·
The
integration of advanced technologies, such as telematics, remote monitoring,
and digital control systems, enhances the performance, safety, and efficiency
of truck-mounted cranes.
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