Global Truck Mounted Cranes Market Growth, Surpassing USD 4,243.6 million by 2035

The global Truck Mounted Cranes Market is set for a strong growth trajectory, projected to rise from USD 2,751.1 million in 2025 to USD 4,243.6 million by 2035, growing at a CAGR of 4.4% over the forecast period. This momentum is powered by booming infrastructure investments, rising urbanization, and a marked shift toward advanced and sustainable lifting technologies.

Truck-mounted cranes are increasingly favored across construction, logistics, energy, and utility sectors for their mobility, fast setup, and high load-handling capacity. With growing adoption of hydraulic drive systems-holding a 50% market share-coupled with stiff boom variants (dominating at 60%), these machines have become essential assets in high-intensity job sites.

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Sustainable Construction Spurs Innovation

A clear industry pivot toward eco-friendly construction equipment is catalyzing the demand for electric and hybrid drive cranes. Industry leader Palfinger AG recently introduced a new generation of zero-emission electric cranes, while Corporation launched a smart hydraulic crane with real-time load monitoring, signaling the shift toward greener and safer crane operations.

In addition, features like telemetry integration, automated controls, and AI-powered diagnostics are enhancing precision, safety, and uptime-key requirements for complex, high-value construction projects.

Competitive Landscape: Tiered Market Structure with Global and Regional Leaders

The global truck-mounted cranes market is moderately fragmented, with major Tier 1 companies like Palfinger AG, and Cargotec (Hiab) controlling 20-25% of the market, thanks to expansive global networks and robust product portfolios. Tier 2 firms such as Liebherr Group and Manitex International, Inc., with strong regional influence, account for 45-50%, while local Tier 3 players such as Zoomlion and Tadano Ltd. focus on niche applications.

This tiered landscape fosters innovation through localized customization, especially in price-sensitive emerging markets across Asia-Pacific, Latin America, and Africa.

Country-Level Insights Highlight Growth Opportunities

United States: Benefiting from the Bipartisan Infrastructure Law, the U.S. is prioritizing bridge repairs, road upgrades, and green energy infrastructure-leading to a CAGR of 4.2%.

Germany: A frontrunner in sustainable construction, Germany is embracing battery-electric and hydrogen-powered cranes to meet stringent environmental regulations under its Climate Action Plan 2050.

Japan: As a tech leader, Japan is driving crane innovation with AI-powered autonomous systems and is targeting carbon neutrality by 2050, leading to an anticipated CAGR of 4.6%.

Competitive Analysis and Market Trends

The semi-annual growth update reveals a steady upward trend, with H2 2025 projected at 4.5% CAGR, up from 4.3% in H1. This indicates increasing momentum driven by digitization, modular construction, and the integration of IoT for real-time crane performance management.

The construction industry's shift toward prefabrication is accelerating the use of truck-mounted cranes due to their ability to lift heavy, pre-assembled structures efficiently in limited space and time. These capabilities are highly relevant in modern urban environments where speed, safety, and sustainability are paramount.

Looking Ahead: Innovation and Infrastructure to Fuel Future Growth

With governments worldwide boosting investments in smart cities, transport, and renewable energy, truck-mounted cranes are becoming indispensable. From wind farm installations to urban redevelopment projects, their adaptability, strength, and ease of use make them a cornerstone of next-gen construction solutions.

As manufacturers continue to invest in electric mobility, predictive analytics, and semi-autonomous operation, the global truck-mounted cranes market is not just growing-it's transforming.

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