Truck Crane Market Expected to Boost Moderately over 2023
Crane is
primarily used for lifting heavy loads and transporting them to other places.
The truck is a type of mobile crane. Truck cranes are principally used in civil
engineering construction works and in heavy equipment manufacturing for
material handling. Growing construction sector across the globe, is driving the
growth of the market. Additionally, increasing investments in power
transmission and distribution (T&D) networks, also drives the market
growth. However, the high maintenance cost and high initial investment, may
hamper the growth of the market. Hence, global truck cranes market is expected
to grow at 4.43% CAGR during the forecast period.
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Market Research Analysis
For this study, the
global truck cranes market has been segmented on the basis of types, and
applications. On the basis of type, the market
has been segmented as Mounted Cranes, Sidelift Crane, Boom Truck Crane, and
Others. Mounted cranes is projected to grow at the highest CAGR during the
forecast period. Mounted cranes means cranes mounted on a rubber tire truck to
provide great mobility. A side lifter crane is a road-going truck or
semi-trailer, which is able to hoist and transport the containers. Container
lift is done with parallel crane-like hoists, which can lift a container from
the ground or from a railway vehicle.
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Based on applications, the
market has been segmented as Construction, Industries, Utilities and Others.
Construction segment accounted for the largest market share. Due to increasing
population and urbanization, there is seen a shift in the population to the
urbanized areas, especially in developing nations. This transition leads to the
increasing demand for homes and residential complexes. This drives the demand
of the market from this sector. Additionally, increased investment in new
commercial constructions and infrastructure projects, also increase demand of
this segment. Utility is another major application of the market. Increasing
investments in power transmission and distribution (T&D) networks, is a
factor driving the market for truck crane.
Scope of
the Report
This study provides an overview of the
global truck crane market, tracking two market segments across four geographic
regions. The report studies key players, providing a five-year annual trend
analysis that highlights market size, volume and share for North America,
Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also
provides a forecast, focusing on the market opportunities for the next six
years for each region. The scope of the study segments the global Truck crane
market by its type, by application, and region.
By Type
- Mounted Cranes
- Sidelift Crane
- Boom Truck Crane
- Others
By Application
- Residential
- Non-residential
By End Use
- Construction
- Industries
- Utilities
- Others
By Region
- North America
- Asia Pacific
- Europe
- Rest of the World
Key Players
The prominent players in the global truck
crane market include Liebherr Group (Switzerland), The Manitowoc Company, Inc.
(U.S.), Terex Corporation (U.S.), Tadano Ltd. (Japan), Xuzhou Construction
Machinery Group Co., Ltd. (China), Kato Works Co., Ltd (Japan), Elliott
Equipment Company (U.S.), Manitex International Inc. (U.S.), Sany Group
(China), Altec Industries (U.S.), and Böcker Maschinenwerke
GmbH (Germany).
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