Truck Loader Crane Market Size & Share, by Product Type (Small Duty, Medium Duty, Big Duty, Heavy Duty); Sales (New Sales, Aftermarket); End-user (Rental, Construction, Mining, Oil & Gas, Energy, Forestry, Logistics) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2023-2035

  • Report ID: 4761
  • Published Date: Aug 18, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023 - 2035

Truck Loader Crane Market size is set to surpass USD 20 Billion by the end of 2035, growing at a CAGR of 6% during the forecast period, i.e., 2023 – 2035. In the year 2022, the industry size of truck loader crane was over USD 11 Billion. The increased construction activity is a factor that has contributed to the growth of the market. In view of the desire to build better and larger homes and workplaces, construction is increasing. In February 2023, the number of permits issued in the United States for construction was up by about 14 % to approximately 2 million per year on a seasonal basis.

Furthermore, it is believed that the increased demand for trucks with front-loading cranes and particularly truck tractors are factors that contribute to market growth. It is expected that India will experience an increased demand for mobile cranes in the 20 to 60 tons range, as well as a higher value between 80 and 100 tons on all-terrain models. For the 20 to 60 tons category, demand was set at approximately 50 units, and for the 80 to 100 tons category about 35 units in 2021.


Truck Loader Crane Market
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Truck Loader Crane Sector: Growth Drivers and Challenges

Growth Drivers

  • Growing Demand for Industrial Equipment and Trade- The development of industrial machines remains at the same pace as technological innovation. In Canada about USD 34,000 and USD 69,000 respectively are the minimum requirement for industrial machinery and equipment today in almost all manufacturing, construction, or production activities.
  • High Manufacturing of Automobiles- The truck crane is a large machinery, used for loading and unloading heavy vehicles in the automotive industry. It is also used to move cables, engines, tires, and a wide variety of materials. By 2021, about 80 million vehicles were manufactured around the world, which means that by 2020 it will have increased by a little over 1%.
  • Rapidly Increasing Urbanization- The growth of demand for energy, housing, and all commodities is likely to be driven by rising urbanization and the development of smart cities. In turn, that will lead to different sectors being stimulated. Moreover, studies suggest that there may be an additional 2.5 billion urban dwellers around the world by 2050.

Challenges

  • Use of the Equipment in a Reckless Manner- Careful use of truck loader cranes should be made to ensure that they are used properly, it can lead to early deterioration and wear on the equipment. Moreover, during the loading and unloading of equipment or other material, the failure to take due care with regard to crane safety can lead to accidents and risks. Thus, growth in the market will likely be impeded by incorrect use of equipment.
  • Maintenance and Repair Costs of the Cab Loader's Crane are Considerable.
  • Lack of skilled Workers on Cranes' Production Lines.

Truck Loader Crane Market: Key Insights

Base Year

2022

Forecast Year

2023-2035

CAGR

~ 6%

Base Year Market Size (2022)

 ~ USD 11 Billion

Forecast Year Market Size (2035)

 ~ USD 20 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Truck Loader Crane Segmentation

End User Industry (Rental, Construction, Mining, Oil & Gas, Energy, Forestry, Logistics)

The construction segment is poised to hold 21% share of the global truck loader crane market by the end of 2035. Increased construction activity, in view of the increased demand for housing, constitutes a factor that is likely to underpin this segment's growth. Nearly 2 billion new housing units have been built in the US since June 2022. This increased by 0.4% compared to the same period last year.

Product Type (Small Duty, Medium Duty, Big Duty, Heavy Duty)

Truck loader crane market from the big duty segment is expected to garner a significant share of about 45% in the year 2035. Growth in the segments, for example, is an important factor that contributes significantly to a wide range of benefits achieved at effective costs. Thanks to the excellent quality of a large wheel loader crane, it is more economical than heavy-duty cranes with better maneuverability. They have a way of adapting and are quite adaptable. The center of it has a huge truck unloading crane that is being supported by an automobile.

Our in-depth analysis of the global market includes the following segments:

   Product Type

  • Small Duty
  • Medium Duty
  • Big Duty
  • Heavy Duty

   Sales

  • New Sales
  • Aftermarket

    End User Industry

  • Rental
  • Construction
  • Mining
  • Oil & Gas
  • Energy
  • Forestry
  • Logistics

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Truck Loader Crane Industry - Regional Synopsis

North American Market Forecast

The truck loader crane market in North America is projected to be the largest with a share of about 30% by the end of 2035. Factor influencing the market's expansion is the rise in demand for heavy construction equipment and the rising manufacturing of machines globally. It is anticipated that new orders for construction equipment in the US will increase significantly in 2021, by about 12% over the previous year. US industrial production climbed by approximately 3% in the third month of October compared to the same period last year.

APAC Market Statistics

The Asia Pacific truck loader crane market is estimated to be the second largest, registering a share of 28% during the forecasted timeframe. Both the population and the demand for housing are growing. The demand for homes in India has grown by almost 35% since the fiscal year of the Low Basic Income in 2021 and is expected to grow another 10% this year. Additionally, it is predicted that urbanization would cause this sector to grow at a faster rate going forward. As of 2021, India's urbanization had increased by 4% over the previous ten years.

Research Nester
Truck Loader Crane Market Sizze
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Companies Dominating the Truck Loader Crane Landscape

top-features-companies
    • Liebherr-International Deutschland GmbH
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Palfinger AG
    • Cargotec Corporation
    • Fassi Gru S.p.A.
    • ATLAS GmbH
    • Cormach S.r.l.
    • PM Group S.p.A.
    • Zoomlion Heavy Industry Science & Technology Co., Ltd.
    • Prangl Gesellschaft m.b.H

In-the-news

In The News

  • Liebherr launched the new tough terrain crane LRT 1090-2.1. The company showcased the new model at MINExpo in Las Vegas. The LRT 1090-2.1 is a crane designed with safety in mind. It has a VarioBase changeable support base and a cozy, secure cabin for crane operators.
  • Palfinger AG announced the launch of PK 37.002 TEC 7 loader crane in Hong Kong. The pk 37.002 TEC 7 is made to be a technological masterpiece for precise and safe lifting.

Author Credits:  Rushikesh, Richa Gupta


  • Report ID: 4761
  • Published Date: Aug 18, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Increasing building construction, the rising demand for oil, and higher production of automobiles are the major factors driving the market growth.

The market size of truck loader crane is anticipated to attain a CAGR of 6% over the forecast period, i.e., 2023-2035.

The major players in the market are Palfinger AG, Cargotec Corporation, Fassi Gru S.p.A., ATLAS GmbH, Cormach S.r.l., PM Group S.p.A., Zoomlion Heavy Industry Science & Technology Co., Ltd., Prangl Gesellschaft m.b.H, and others.

The construction segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

The market in the North America region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.
Truck Loader Crane Market Report Scope
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