Comprehensive Truck Mounted Crane Market Insights: Forecasting Size, Growth, and Competitive Trends from 2025 to 2034

Which drivers are expected to have the greatest impact on the over the truck mounted crane market's growth?
Growth in the truck mounted cranes market is projected to be driven by the burgeoning construction of public infrastructure. Public infrastructure encompasses facilities and structures constructed for public use such as roads, public lavatories, overpasses, among others. Truck mounted cranes find use in the development of urban infrastructure due to their ability to transport raw materials and construction blocks in constrained and congested spaces. For example, a report published by the Infrastructure and Projects Authority, a UK government-based agency, in February 2024, indicates that 660 projects and programs are currently lined up for investment in both public and private sectors. The investment plan leading up to 2024/25 amounts to roughly $204 billion. In the coming decade, an approximate $850-950 billion has been projected for planned and potential investments. Furthermore, $78 billion of this investment will be directed towards the application of Modern Methods of Construction (MMC) in the next two years. Thus, the surge in public infrastructure construction is fuelling the market for truck mounted cranes.

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What is the future CAGR of the truck mounted crane market, and how will it impact industry expansion?
In the past few years, the market size of truck-mounted cranes has seen substantial growth. It is predicted to grow from $7.39 billion in 2024 to $7.8 billion in 2025 at a Compound Annual Growth Rate (CAGR) of 5.6%. The growth seen in the historic period can be credited to factors such as construction and infrastructure development, expansion in logistics and transportation, renewable energy projects, oil and gas exploration activities, and trends related to urbanization and construction.

Strong expansion is predicted in the truck mounted crane market over the next few years, with a projected increase to $10.19 billion by 2029, featuring a compound annual growth rate (CAGR) of 6.9%. This projected growth during the forecast period is due to factors such as infrastructure upkeep and repairs, telecommunication tower construction, continued expansion in the renewable energy sector, increased activity in port and shipping endeavors, and government investment in public works. Key trends expected during this forecast period include the customization of cranes for particular applications, attention to ergonomics and operator comfort, incorporation with fleet management systems, and the provision of rental and leasing services, as well as global expansion and intensive market penetration.

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What are the most significant trends transforming the truck mounted crane market today?
Dominant enterprises in the truck mounted cranes industry are adopting novel technologies to maintain their competitive edge. These cutting-edge technologies in truck-mounted cranes increase safety, boost operational productivity, and promote environmental sustainability, broadening their functionality and attractiveness across various sectors. For instance, in March 2024, Hiab, a corporation based out of Sweden, known for its intelligent services and smart solutions designed to improve load handling proficiency, unveiled the HIAB wspr, an advanced electric hybrid crane solution created to enhance load management and encourage sustainability. This pioneering product supports a dual power source, enabling both the truck engine and a distinct electric power take-off (ePTO) to be used, rendering it exceptionally effective for usage in low- or no-emission zones. The HIAB wspr encompasses three model variants: a standard model suitable for larger market segments that can function for 1-2 days once fully charged, a light-duty model perfect for drop-off applications featuring an inbuilt battery pack, and a heavy-duty model designed for prolonged working hours, mounted directly onto the truck chassis.

Which key market segments comprise the truck mounted crane market and drive its revenue growth?
The truck mounted crane market covered in this report is segmented -

1) By Type: Articulating Cranes, Hydraulic Cranes, Telescopic Cranes, Other Types
2) By Drive: Electrical, Mechanical, Hydraulic
3) By Lifting Capacity: Below 15 Ton, 15 To 30 Ton, 30 To 50 Ton, Above 50 Ton
4) By End Use: Industrial, Commercial, Infrastructure, Other End Users

Subsegments:
1) By Articulating Cranes: Standard Articulating Cranes, Heavy-Duty Articulating Cranes
2) By Hydraulic Cranes: Truck-Mounted Hydraulic Cranes, All-Terrain Hydraulic Cranes
3) By Telescopic Cranes: Fixed Telescopic Cranes, Swing Arm Telescopic Cranes
4) By Other Types: Mini Cranes, Specialized Cranes

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What regions are at the forefront of truck mounted crane market expansion?
Asia-Pacific was the largest region in the truck mounted crane market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global truck mounted crane market during the forecast period. The regions covered in the truck mounted crane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Who are the leading players fueling growth in the truck mounted crane market?
Major companies operating in the truck mounted crane market include Liebherr Group, Xuzhou Construction Machinery Group Co Ltd., Kawasaki Heavy Industries Ltd., Sany Heavy Industry Co Ltd, Zoomlion Heavy Industry Science & Technology Co Ltd., F.lli Ferrari S.p.A., Terex* Corporation, Liugong Machinery Co Ltd., Altec Inc., Palfinger AG, Tadano Ltd., KOBELCO Construction Machinery Co Ltd., Hyva Global B.V., Kato Works Co Ltd., Sims Crane & Equipment Co, Action Construction Equipment Ltd., Manitex International Inc, HMF Group, STAHL CraneSystems GmbH, Iowa Mold Tooling, Hidrokon, Effer S.p.A., Elliott Equipment Company, TIL Limited, Böcker Maschinenwerke GmbH, Furukawa Unic Corporation, Liaoning Fuwa Heavy Industry Machinery Co Ltd., Hydrauliska Industri AB, Fassi Gru S.p.A., Bonfiglioli Group, Cormach S.r.l., CraneWorks Inc., Altec Industries Inc., Amco Veba, UNIC Cranes Europe, Liftmoore Inc., KenzFigee

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What Is Covered In The Truck Mounted Crane Global Market Report?

•Market Size Forecast: Examine the truck mounted crane market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the truck mounted crane market for a structured understanding.
•Key Players Overview: Analyze major players in the truck mounted crane market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the truck mounted crane market.
•Segment Contributions: Evaluate how different segments drive overall growth in the truck mounted crane market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the truck mounted crane market.
•Industry Challenges: Identify potential risks and obstacles affecting the truck mounted crane market.
•Competitive Landscape: Review strategic developments in the truck mounted crane market, including expansions, agreements, and new product launches.

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