Truck Cranes Market Is Anticipated To Reach US$ 14.9 Billion by 2033

Construction Industry to Continue Spearheading Sales Growth of Truck Cranes

Rockville , Sept. 28, 2023 (GLOBE NEWSWIRE) -- Climbing at a CAGR of 5%, the global truck cranes market is projected to reach a valuation of US$ 14.9 billion by the end of the study period (2023 to 2033). This study by Fact.MR, a market research and competitive intelligence provider, projects the construction sector to account for a majority of truck crane sales over the next ten years.

Demand for construction equipment that saves time and money is increasing rapidly around the world and in a bid to accommodate this demand, manufacturers are integrating multiple operations in equipment to deliver higher productivity. The development of a purpose-built chassis is another prominent trend wherein the feasible integration of standard components, ranging from tires to engines, reduces maintenance costs.

Get Free Sample Copy of This Report:https://www.factmr.com/connectus/sample?flag=S&rep_id=2169

To deliver cost-efficient and easily maneuverable equipment, manufacturers of truck cranes are combining better-lifting capacities with easier transport. Integration of different equipment and technologies is a trend that many truck crane suppliers are opting for as they try to boost their sales potential.

In April 2020, W&W Energy Services (W&W), announced the launch of its Knuckle Boom Crane Truck, which was made by integrating the Palfinger 110002 high-performance hydraulic knuckle boom crane with a 2019 Kenworth K900 Tractor.

Report Attributes

Details

Value Projection (2033)

US$ 14.9 Billion

Growth Rate (2023-2033)

5% CAGR

No. of Pages

170 pages

No. of Tables

84 Tables

No. of Figures

66 Figures

Key Takeaways from Market Study

The global truck cranes market stands at a valuation of US$ 9.1 billion in 2023.

Demand for truck cranes is projected to expand at a healthy CAGR of 5% from 2023 to 2033.

The market is forecasted to reach a size of US$ 14.9 billion by 2033.

Rapid industrialization and urbanization, high spending on infrastructure development, upgradation of energy grids, and development of mobile cranes with high lifting capacities are key market drivers.

High cost of truck cranes is estimated to be a key growth limiting factor for global market growth over the coming years.

Developing economies in the Asia Pacific region are projected to emerge as highly remunerative markets for truck crane manufacturers in the future.

Most truck crane sales are estimated to come from the construction sector.

“India, China, and Brazil are markets that truck crane companies should not miss out on if they want to make it into the big leagues of this business,” says a Fact.MR analyst

Leading Market Players

Liebherr Group

Kato Works Co. Ltd.

Sany Heavy Industry Co. Ltd.

Tadano Ltd.

The Manitowoc Company Inc.

XCMG Construction Machinery Co., Ltd.

Elliott Equipment Company

Böcker Maschinenwerke GmbH

Terex Corporation

Manitex International Inc.

Winning Strategy

Top truck crane brands are focusing on launching new products that are compliant with modern emission mandates without compromising productivity. Companies are also experimenting with electric power to create 100% electric mobile cranes as the focus on sustainability around the world increases.

Get Customization on this Report for Specific Research Solutions:https://www.factmr.com/connectus/sample?flag=RC&rep_id=2169

Key Segments of Truck Cranes Industry Research Report

By Lifting Capacity (Tonnes):

<150

150 to 300

>300

By End Use:

Commercial

Construction Sites

Industrial

Forestry

Shipyards

Others

By Type:

Mounted Cranes

Sidelift Cranes

Boom Truck Cranes

Others

By Region:

North America

Latin America

Europe

APAC

MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global truck cranes market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).

The study divulges essential insights on the market based on lifting capacity (tonnes) (<150, 150 to 300, >300), end use (commercial, construction sites, industrial, forestry, shipyards, others), and type (mounted cranes, sidelift cranes, boom truck cranes, others), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

Explore More Related Studies Published by Fact.MR Research:

Crane Rental Market: Crane rental services demand is expanding and is poised to grow at a rate of 4.6% during the forecast period and reach a valuation of US$ 83.5 billion in 2033 from US$ 53.3 billion in 2023.

Rough Terrain Crane Market: Worldwide sales of rough terrain cranes are estimated at US$ 7.85 billion in 2023 and are projected to reach US$ 14.1 billion by the end of 2033.

Crawler Cranes Market: The global crawler cranes market is projected to expand at a CAGR of 4.7% and reach a valuation of US$ 7.19 billion by 2033, up from US$ 4.54 billion in 2023.

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we delivers deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empowers businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

Contact: US Sales Office11140 Rockville PikeSuite 400Rockville, MD 20852United StatesTel: +1 (628) 251-1583, +353-1-4434-232 (D) Sales Team: [email protected] Follow Us: LinkedIn | Twitter | Blog