Truck-mounted Cranes Market Size Forecast to Reach US$ 4.5 Billion by 2035 with a CAGR of 5.5% | Key Players- SANY GROUP and more

Truck-mounted Cranes Market SWOT Analysis to 2035

The global truck-mounted cranes market was valued at US$ 2.5 Bn in 2024 and is projected to reach US$ 4.5 Bn by 2035, growing at a CAGR of 5.5% from 2025 to 2035. The industry is witnessing consistent growth driven by rising construction activities, rapid urbanization, infrastructure modernization, and increasing demand for mobile lifting equipment across industrial and commercial sectors. The ability of truck-mounted cranes to offer mobility, flexibility, and cost-efficiency makes them a preferred choice across construction, logistics, utilities, mining, and energy industries.

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Growing use in metro rail projects, power distribution maintenance, oil & gas operations, and heavy material handling is further strengthening global deployment.

Market Overview

Truck-mounted cranes are hydraulic lifting machines installed on commercial trucks, designed to lift, transport, and position heavy loads efficiently. They offer superior mobility over traditional cranes and are widely used in construction, material handling, emergency services, and industrial operations.

Key Market Growth Drivers

• Increasing construction and infrastructure development across emerging economies
• Rising demand for mobile and versatile lifting solutions over fixed cranes
• Growing adoption in energy & utilities for grid maintenance, tower installation, and powerline services
• High demand from mining, logistics, and oil & gas sectors for heavy-duty load handling
• Technological innovations such as telematics, automation, and improved safety systems
As industries focus on fast project completion, enhanced operational efficiency, and improved load-handling capabilities, truck-mounted cranes are becoming integral to modern industrial workflows.

Market Description

Truck-mounted cranes combine the mobility of trucks with the lifting capabilities of cranes, enabling all-terrain operations and multi-site usability. Their reliability, lower operating cost, easy installation, and compact design make them suitable for urban and rural projects.

Major Application Areas
• Construction & Infrastructure: Road construction, building projects, bridges, and metro rail installation
• Energy & Utilities: Powerline maintenance, transformer lifting, renewable energy infrastructure
• Logistics & Transportation: Heavy-load shifting in ports, warehouses, and industrial facilities
• Oil & Gas: Pipeline construction, rig maintenance, and equipment handling
• Mining: Heavy material movement in challenging terrains
• Emergency & Rescue Services: Disaster response and heavy lifting operations
With increased emphasis on safety and automation, new truck-mounted crane models include advanced load sensors, 360° cameras, remote-control systems, and anti-tip technologies to enhance performance.

Analysis of Key Players in the Truck-mounted Cranes Market

Leading companies are focusing on innovation, improved hydraulic systems, global expansion, and high-quality manufacturing to meet growing demand. Partnerships with construction companies, rental fleet operators, and logistics firms are enabling stronger market penetration.

Prominent Market Players
• SANY GROUP
• Liebherr-International Deutschland GmbH
• Konecranes Oyj
• CARGOTEC CORPORATION
• Elliott Equipment Company
• PALFINGER AG
• Tadano Ltd.
• Hyva Group
• The Manitowoc Company, Inc.
• Other Key Players

Companies are evaluated based on their product portfolio, crane capacities, technological innovation, manufacturing capabilities, and global distribution.

Key Developments in the Market

• In August, 2024, Manitowoc's launched a new series of Grove truck-mounted cranes at an event designed for emerging markets. Visitors from all over Africa and the Middle East attended the event. Grove TMC550 was on display, and Manitowoc also unveiled the Grove TMC250 and Grove TMC750, two new models. The models are exclusive for only emerging markets in Latin America, Africa, and the Middle East. In order to maintain Manitowoc's leadership in lifting solutions, each model incorporates cutting-edge technology that increase productivity, efficiency, and environmental compliance.

• In June 2024, The Liebherr plant in Ehingen, Germany, has introduced the most powerful 6-axle crane in the world, the LTM 1400-6.1. It features a 70-meter telescopic boom and is distinguished by its easy-to-use and ingenious setup procedures. The successful and tested LTM 1350-6.1 has been replaced by the new crane. With its massive increase in lifting capability, the LTM 1400-6.1 is the ideal introduction to this boom technology and, like its predecessor, is currently the smallest crane. Additionally, it has driver assistance technologies that improve road safety for all users.

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Key Player Strategies

• Product Innovation: Development of high-capacity cranes, automated monitoring systems, and remote-controlled units
• Sustainability Initiatives: Introduction of hybrid and fully electric cranes to reduce carbon footprint
• Global Footprint Expansion: Targeting high-growth markets in Asia-Pacific, Middle East, and Latin America
• Aftermarket & Rental Services: Strengthening service networks to capture long-term revenue streams
• Compliance & Certification: Adopting stringent quality and safety standards (ISO, CE, ANSI) to increase global adoption

Market Challenges

• High initial cost of advanced truck-mounted crane systems
• Skilled operator shortage affecting crane deployment efficiency
• Regulatory barriers related to safety and transportation of oversized equipment
• Intense competition from alternative lifting equipment and crane rental services
• Fluctuating raw material costs, especially steel

Market Opportunities

• Growing construction and infrastructure projects in India, Southeast Asia, and Africa
• Rising adoption of telematics and automation for smart lifting operations
• Expansion of renewable energy installations (solar, wind) requiring high-precision crane operations
• Increased demand for rental fleets for flexible project needs
• Technological advancements in safety, load handling, and energy-efficient hydraulic systems

Market Segmentations

By Type
• Knuckle Boom Cranes
• Telescopic Boom Cranes
• Articulated Cranes
• Others

By Capacity
• Upto 10 Tons
• 10-50 Tons
• 50-150 Tons
• Above 150 Tons

By End-use Industry
• Construction
• Energy & Utilities
• Logistics & Transportation
• Oil & Gas
• Mining
• Others

By Region
• North America: Strong adoption in utility maintenance and construction
• Europe: High demand for advanced, safe, and automated crane solutions
• Asia-Pacific: Largest and fastest-growing due to massive infrastructure projects
• Latin America: Increasing deployment in mining, oil & gas, and construction
• Middle East & Africa: Heavy investment in mega infrastructure and energy projects

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Why Buy This Report?

• In-depth coverage of market drivers, restraints, and opportunities
• Detailed segmentation by crane type, capacity, end use, and region
• Competitive landscape with profiles of leading manufacturers
• Long-term forecasts for strategic business planning
• Insights on technological advancements and emerging trends
• Evaluation of sustainability initiatives and future-ready crane solutions

Conclusion

The truck-mounted cranes market is poised for steady growth through 2035, supported by expanding construction activities, rapid industrialization, and rising adoption of mobile lifting equipment. With advancements in automation, telematics, safety features, and hybrid technologies, truck-mounted cranes are evolving into highly efficient and intelligent lifting solutions. Although challenges like high costs and operator shortages persist, increasing infrastructure investments and technological innovations are expected to drive long-term market expansion worldwide.

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