Dublin, Oct. 02, 2024 (GLOBE NEWSWIRE) -- The "Truck Mounted Crane - Global Strategic Business Report" has been added to ResearchAndMarkets.com's offering.
The global market for Truck Mounted Crane was estimated at US$12.3 Billion in 2023 and is projected to reach US$18.1 Billion by 2030, growing at a CAGR of 5.8% from 2023 to 2030.
Technological innovations have significantly influenced the design and functionality of truck mounted cranes. Advances in hydraulic systems have improved the lifting capacity and precision of these cranes, enabling them to handle heavier loads with greater control. The integration of advanced control systems, including remote and automated controls, has enhanced the safety and efficiency of crane operations. The development of lightweight and high-strength materials has increased the durability and mobility of truck mounted cranes, allowing for more versatile applications.
Additionally, advancements in engine and fuel technologies have improved the environmental performance and fuel efficiency of truck mounted cranes, addressing sustainability concerns. These technological advancements have expanded the capabilities and applications of truck mounted cranes, driving their adoption in various sectors.
Who Are the Major Users and What Are Their Needs?
The major users of truck mounted cranes include construction companies, logistics providers, and utility maintenance firms. Construction companies use these cranes for lifting and transporting materials on construction sites, requiring cranes that offer high lifting capacity, mobility, and reliability. Logistics providers rely on truck mounted cranes for loading and unloading goods, demanding cranes that provide efficient and safe material handling.
Utility maintenance firms use truck mounted cranes for tasks such as repairing and installing utility poles and equipment, seeking cranes that offer precision and ease of operation. Each user group values truck mounted cranes that provide versatility, durability, and efficiency to meet their specific operational needs.
What Is Driving Growth in the Truck Mounted Crane Market?
The growth in the truck mounted crane market is driven by several factors, including the expanding construction industry, increasing infrastructure development, and advancements in crane technology. The growing construction industry, driven by urbanization and infrastructure projects, has increased the demand for versatile and mobile lifting equipment like truck mounted cranes. Increasing infrastructure development, including transportation, utilities, and energy projects, has further fueled the demand for these cranes.
Advancements in crane technology, including improved hydraulic systems, advanced control mechanisms, and lightweight materials, have enhanced the performance and appeal of truck mounted cranes. Additionally, the rising focus on operational efficiency and safety in material handling and construction activities has supported the adoption of truck mounted cranes in various sectors.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Knuckle Boom segment, which is expected to reach US$11.5 Billion by 2030 with a CAGR of a 6.3%. The Stiff Boom segment is also set to grow at 4.8% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $3.3 Billion in 2023, and China, forecasted to grow at an impressive 9.3% CAGR to reach $4.1 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Questions Answered:
- How is the Global Truck Mounted Crane Market expected to evolve by 2030?
- What are the main drivers and restraints affecting the market?
- Which market segments will grow the most over the forecast period?
- How will market shares for different regions and segments change by 2030?
- Who are the leading players in the market, and what are their prospects?
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players such as Altec Industries, Inc., Bocker Maschinenwerke GmbH, Elliott Equipment Company, and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 297 |
| Forecast Period | 2023 - 2030 |
| Estimated Market Value (USD) in 2023 | $12.3 Billion |
| Forecasted Market Value (USD) by 2030 | $18.1 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- World Market Trajectories
- Truck Mounted Crane - Global Key Competitors Percentage Market Share in 2024 (E)
- Global Economic Update
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Increasing Demand in Construction and Infrastructure Projects
- Advancements in Hydraulic and Control Systems
- Growth in Logistics and Material Handling Applications
- Development of Lightweight and High-Strength Materials
- Rising Adoption in Utility and Maintenance Services
- Expansion of Renewable Energy Projects
- Innovations in Crane Mobility and Versatility
- Growth in Rental and Leasing Markets
FOCUS ON SELECT PLAYERS (Total 47 Featured):
- Altec Industries, Inc.
- Bocker Maschinenwerke GmbH
- Elliott Equipment Company
- Kato Works Co., Ltd.
- Liebherr-International AG (Liebherr Group)
- Link-Belt Cranes
- Manitex International, Inc.
- Manitowoc Co., Inc.
- MPG Makina Produksiyon Grubu
- Ormig SpA
- Sany Group Co., Ltd.
- Tadano Ltd.
- Terex Corporation
- Xuzhou Construction Machinery Group Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/4hq8wp
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