Truck Cranes Market to Skyrocket to US$ 14.9 Billion by 2033

By the conclusion of the study period (2023 to 2033), the worldwide Truck Cranes Market is expected to have grown at a compound annual growth rate (CAGR) of 5% and be valued US$ 14.9 billion. According to this analysis by market research and competitive intelligence firm Fact.MR, during the next ten years, the construction industry is expected to account for the bulk of truck crane sales. Worldwide demand for time- and money-saving construction equipment is rising quickly, and manufacturers are responding by combining many tasks into their products to increase productivity. Another popular trend where the practical integration of standard components, from tires to engines, lowers maintenance costs is the construction of a purpose-built chassis.

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.

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
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):
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

Browse Full Report: https://www.factmr.com/report/2169/truck-crane-market

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) (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).

Competitive Landscape:

Top-tier truck crane brands are focusing on launching new vehicles with high truck crane capacities and other capabilities.

In March 2023, Manitex International Inc., a renowned name in the truck cranes industry, announced the launch of its new truck crane. The new TC850 Series truck-mounted crane features an 85-tonne capacity high-reach truck crane that eliminates the need for a front jack.

Explore More Related Studies Published by Fact.MR Research:

Traction Inverter Market
https://www.factmr.com/report/traction-inverter-market

Rail Gangways Market
https://www.factmr.com/report/3043/rail-gangways-market

Off-Highway Engine Market
https://www.factmr.com/report/off-highway-engine-market

Torque Vectoring Market
https://www.factmr.com/report/torque-vectoring-market

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: sales@factmr.com

𝐀𝐛𝐨𝐮𝐭 𝐅𝐚𝐜𝐭.𝐌𝐑
We are a trusted research partner of 80% of fortune 1000 companies across the globe. We are consistently growing in the field of market research with more than 1000 reports published every year. The dedicated team of 400-plus analysts and consultants is committed to achieving the utmost level of our client's satisfaction.

This release was published on openPR.