Truck Mounted Crane Market: 2022 Upcoming Opportunities, Growth Prospects, Size, Share, and key Country Outlook To 2030

Overview:

The global report on the Truck Mounted Crane Market digs deep into various aspects of the market to learn more about it. Market Research Future (MRFR) has identified opportunities using which the market could mark substantial growth in the coming days. Its growth during the forecast period of 2022 to 2030 would be governed mostly by rising urbanization in developing countries and subsequent construction activities. The development of power grids is also going to ensure proper backing for the truck crane market. 

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Segmentation:

To simplify the study of the global truck cranes market, MRFR analysts have segmented in into types and applications. This would help in charting a course for the market in the coming days.

By type, the global market report on the truck crane market includes mounted cranes, sidelift crane, boom truck crane, and others. The mounted crane segment is showing opportunities to outpace others during the forecast period. 

By applications, the market has been segmented as construction, industries, utilities and others. The construction segment has the largest market share and is expected to get boosted by increasing population and urbanization. Rising investments in power transmission and distribution (T&D) networks can also expand the scope of operation for the market.

Regional Analysis:

Asia Pacific is both the largest and the fastest-growing region for the truck crane industry. China is providing the maximum revenue. India, South Korea, and others are also impacting the market in significant ways. Renovation activities in Europe is bound to provide tailwind to the market. 

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Competitive Landscape:

Terex Corporation (U.S.), Tadano Ltd. (Japan), Liebherr Group (Switzerland), The Manitowoc Company, Inc. (U.S.), Kato Works Co., Ltd (Japan), Xuzhou Construction Machinery Group Co., Ltd. (China), Manitex International Inc. (U.S.), Elliott Equipment Company (U.S.), Altec Industries (U.S.), Sany Group (China), Böcker Maschinenwerke GmbH (Germany), and others are impacting the truck crane market with strategic mechanisms.

Industry News:

In August 2020, UK rental company DSM Contract Lifting, an UK-based rental company, announced that they have received a new six tonne Böcker AK 46/6000 aluminium truck crane. This new device has a 33 metre main boom with an 11 metre two section telescopic offsettable jib and a two metre extension. It has this ability to handle up to a radius of eight metres or, in other ways, take one tonne to 26 metres or carry 250kg to 39 metres. Among its other features, automatic levelling, wireless remote controls with colour screen, and fully variable outrigger set up and monitoring can impact the market and increase the intake. It is mounted on a 26 tonne chassis that has a rear axle steering.

In August 2020, Coppard Plant Hire, another UK-based rental company announced the expansion of its fleet with the addition of a 6t Klaas K1003RSX aluminium truck crane. It was supplied by the local dealer Kranlyft UK of the German manufacturer. As per their opinions, this lift with a right hand drive is the first of its kind. The Klaas K1003RSX can reach up to a height of 52.75m. In addition, it can lift 1t to a radius of 30m and 500kg up to a radius of 40m. Like other Klass cranes, its slew cover 360 degree. 

The COVID-19 crisis is expected to have a noteworthy impact on the market. The first part of 2020 has witnessed a substantial drop in the construction activities and also a rising financial crunch, which may have a lasting impact on the truck crane market growth.

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