Future of the Truck Mounted Crane Market: Strategic Analysis and Forecast to 2034

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Truck Mounted Crane Market Size Growth Forecast: What to Expect by 2025?
The market scope for truck-mounted cranes has significantly expanded in the recent past. The market, valued at $7.39 billion in 2024, is projected to rise to $7.8 billion in 2025, representing a compound annual growth rate (CAGR) of 5.6%. This growth in the historic period has been driven by factors such as the development of construction and infrastructure, broader logistics and transportation sectors, green energy projects, oil and gas exploration undertakings, as well as urbanization and construction trends.

How Will the Truck Mounted Crane Market Size Evolve and Grow by 2029?
The size of the truck mounted crane market is predicted to experience robust expansion in the forthcoming years. It is projected to reach $10.19 billion by the year 2029, with a compound annual growth rate (CAGR) of 6.9%. Major contributing factors anticipated to drive growth during this forecast period include infrastructure upkeep and restoration, telecommunication tower deployments, persistent growth in the renewable energy sector, increasing port and shipping activity, and public project investments from the government. Significant trends to look out for in this period are specific application customization, emphasis on ergonomics and operator convenience, fusion with fleet management systems, rental and leasing services, and international expansion along with market penetration.

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What Drivers Are Propelling the Growth of Truck Mounted Crane Market Forward?
The growth of the truck mounted cranes market is projected to be driven by the escalating construction of public infrastructure. This includes facilities and structures created for public use such as roads, public restrooms, overpasses, and more. Truck-mounted cranes play a significant role in urban infrastructure development because of their flexibility in transporting raw materials and construction blocks in confined and populated areas. For example, as reported by the Infrastructure and Projects Authority, a government agency based in the UK, in February 2024, there are currently 660 projects and programs awaiting investment from both, the public and private sectors. An estimated investment of about $204 billion is scheduled for the period leading up to 2024/25. In the coming ten years, a planned and projected investment estimated between $850-950 billion is expected. Furthermore, $78 billion of these investments, within the next two years, will utilize Modern Methods of Construction (MMC). Consequently, the burgeoning construction of public infrastructure is fuelling the truck mounted cranes market.

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Which Emerging Trends Are Transforming the Truck Mounted Crane Market in 2025?
Key players in the truck mounted cranes market are incorporating advanced technologies to maintain their market dominance. These state-of-the-art technologies present in the truck-mounted cranes augment safety, operational proficiency and environmentally friendly actions, thereby broadening their adaptability and attractiveness in various sectors. As an example, Hiab, a company based in Sweden renowned for their smart services and solutions aimed at boosting load handling performance, unveiled the HIAB wspr in March 2024. This advanced electric hybrid crane solution aims to improve load handling while advocating for environmental sustainability. It boasts a dual power source, permitting operation via the truck engine and a separate electric power take-off (ePTO), making it incredibly efficient for use in areas with low or no emissions. The HIAB wspr offers three model variants: a standard model apt for larger market segments and capable of functioning for 1-2 days on a full charge, a light-duty model crafted for drop-off applications possessing an in-built battery pack, and a heavy-duty model conceived for prolonged work hours and installed directly on the truck chassis.

What Are the Key Segments in the Truck Mounted Crane Market?
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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Who Are the Key Players Shaping the Truck Mounted Crane Market's Competitive Landscape?
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., Tere*x 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

What Geographic Markets Are Powering Growth in the Truck Mounted Crane Market?
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.

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