Truck Crane Market Scenario Highlighting Major Drivers & Trends, 2018-2028

From: Fact.MR
Published: Mon Oct 29 2018

Truck cranes are the type of cranes, which runs on rubber tires instead of crawler or undercarriage. Generally, truck cranes are able to travel on highways without any need of any other special equipment to transport. Low setup time and higher traveling speed are some of the factors, which gives an edge to truck cranes over others, however the loading capacity of truck cranes comparatively less than that of crawler cranes. Increasing investment in infrastructure and construction sector has resulted in demand for heavy construction machinery. Truck cranes are widely used in various applications such as construction, oil & gas, shipping & port building, power & utilities etc. APEJ with large number of emerging economies is expected to create tons of new opportunities of truck crane market in the forthcoming years. Owing to the above-mentioned facts, the global market for truck crane is anticipated to grow at a significant CAGR over the forecast period.

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Truck Crane Market – Market Dynamics

Increasing Construction and Infrastructure Activities to Boost the Demand for Truck Cranes

The infrastructure sector and the construction sectors have undergone tremendous growth. The emerging economies in the Asia Pacific region have witnessed uptrend in infrastructure activities such as railway construction, road construction, bridges etc. This has led to increased adoption of construction equipment. The frequency of these activities in the region is rising on a large scale, which is supporting the growth of the truck cranes market. Increasing investments in power transmission and distribution (T&D) are also creating demand for truck cranes.

Innovation and Introduction of New Technologies to Boost the Demand for Truck Cranes

Various players involved in the construction equipment market have brought in different innovations to make it more convenient for the operator. The recent developments that have been added to truck cranes are expected to enhance the functionality with higher accuracy. One of the latest trends in truck crane market is the adoption of truck cranes with aerial and crane mode operation. Manufactures are providing functionalities for both crane and aerial work, which allows to lift person for repair and maintenance activities. In addition the real time guidance to assist the operator is major technological enhancement in truck cranes. New features such as dynamic load diagram, which allows the advance verification of crane’s lifting capacity based on the truck stability. These kind of innovations are expected to boost the market growth of truck cranes over the forecast period

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Truck Crane Market – Regional Analysis

The global truck crane market can be segmented into seven regions which include North America, Latin America, Europe, CIS & Russia, Japan, APEJ (Asia Pacific except Japan) and the Middle East and Africa. Growth prospects of truck crane market are almost stagnant in North America. On the other hand, the future of truck crane market in the emerging geographies like China, India, Mexico and ASEAN are prominent because of high growth of the construction, building, infrastructure and mining industries, which, in turn, will increase the demand truck cranes in the future. Europe is anticipated to be the largest truck crane market over the forecast period owing to the expanding construction sector in UK, Germany and France.

Truck Crane Market – Key Segments

Truck Crane Market can be segmented on the basis of type and end-use application. On the basis of type, the truck cranes market can further be segmented as side lift crane, mounted crane and boom truck cranes. The side lift cranes used to load and unload container from the ground or a railway vehicle via hydraulics. The side lifter truck cranes are able to travel large distances and able to load unload containers without any additional equipment. Mounted truck cranes are the cranes in which cranes are mounted on the rubber tire trucks to provide better mobility. On the basis of application segment of truck cranes market includes construction, oil & gas, power utilities and other applications. The construction segment is anticipated to account for largest market share over the forecast period owing to increasing investment on infrastructure projects and commercial constructions in growing countries, such as China and India.

Truck Crane Market – Key Manufacturers

Liebherr Group, Terex Corporation, Altec Industries, Sany Group, Tadano Ltd., The Manitowoc Company, Inc., Xuzhou Construction Machinery Group Co., Ltd., Manitex International Inc., Elliott Equipment Company and Böcker Maschinenwerke GmbH are the some of the prominent players in global truck crane market.

This analytical research study imparts an all-inclusive assessment on the market, while propounding historical intelligence, actionable insights, and industry-validated & statistically-upheld market forecast. Verified and suitable set of assumptions and methodology has been leveraged for developing this comprehensive study. Information and analysis on key market segments incorporated in the report has been delivered in weighted chapters. A thorough analysis has been offered by the report on

  • Market Dynamics

  • Market Size

  • Market Segments

  • Demand & Supply Trends

  • Current Issues and Challenges

  • Companies and Competitor Landscape

  • Value Chain

  • Technology

Regional Segments Analyzed Include

  • North America (U.S., Canada)

  • Latin America (Mexico. Brazil)

  • Western Europe (Germany, Italy, France, U.K, Spain)

  • Eastern Europe (Poland, Russia)

  • Asia Pacific (China, India, ASEAN, Australia & New Zealand)

  • Japan

  • Middle East and Africa (GCC, S. Africa, N. Africa)

Compilation of authentic and first-hand intelligence, insights offered in the report are based on quantitative and qualitative assessment by leading industry experts, and inputs from opinion leaders & industry participants around the value chain. Growth determinants, macroeconomic indicators, and parent market trends have been scrutinized and delivered, coupled with the market attractiveness for each market segment encompassed. Qualitative impact of growth influencers on the market segments across regions has also been mapped by the report.

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