Truck Mounted Crane Market Outlook

The global truck mounted crane market has witnessed substantial growth, with a market size estimated to reach approximately USD 3.5 billion by 2035, growing at a CAGR of around 6.5% from 2025 to 2035. This growth can be attributed to the increasing demand for efficient lifting solutions across various sectors such as construction, utilities, and oil & gas. The rising trend of modernizing infrastructure, coupled with the growing focus on urbanization and development, has created a significant need for advanced lifting equipment. Moreover, the expansion of industries globally is further anticipated to drive the adoption of truck mounted cranes. The growing emphasis on safety measures and operational efficiency is also propelling the market, as businesses seek to enhance productivity while ensuring compliance with regulatory requirements.

Growth Factor of the Market

Several factors are contributing to the growth of the truck mounted crane market. Firstly, the construction industry is experiencing a robust recovery post-pandemic, which has led to increased investments in infrastructure projects across various regions. This surge in construction activities necessitates efficient equipment like truck mounted cranes for lifting and transporting heavy materials. Secondly, the oil and gas sector continues to expand, particularly in regions rich in natural resources, thereby increasing the demand for specialized lifting equipment for maintenance and construction work. Furthermore, the advancements in technology, such as the incorporation of telematics and automation in cranes, are enhancing operational efficiency, thus attracting a broader customer base. Additionally, the increasing focus on sustainability and eco-friendly equipment is leading manufacturers to innovate and produce more energy-efficient cranes, which further fuels market growth.

Key Highlights of the Market

• Strong growth forecast with a CAGR of 6.5% from 2025 to 2035.
• Rapid urbanization leading to increased demand for construction and infrastructure development.
• Expansion of the oil and gas sector globally driving specialized truck mounted crane usage.
• Technological advancements in crane automation and telematics improving operational efficiency.
• Growing emphasis on safety and compliance regulations enhancing the adoption of modern cranes.

By Product Type

Telescopic Boom Truck Mounted Crane:

The telescopic boom truck mounted crane segment is one of the most popular types in the market due to its versatility and ease of use. These cranes are designed with a boom that can extend, allowing for a longer reach without needing to reposition the truck. This feature makes them ideal for various applications such as construction, landscaping, and utility work. The ability to quickly adjust the boom length significantly enhances operational efficiency, making telescopic boom cranes a preferred choice among contractors and businesses. Additionally, the compact design allows for maneuverability in tight spaces, catering to urban construction needs. As urbanization continues to rise, the demand for telescopic boom cranes is expected to grow correspondingly.

Knuckle Boom Truck Mounted Crane:

Knuckle boom truck mounted cranes are gaining momentum in the market due to their unique articulation and flexibility. These cranes feature a distinctive knuckle joint that allows them to bend and reach around obstacles, making them perfect for intricate lifting tasks in crowded or confined environments. The design enables operators to position loads more precisely, which is particularly beneficial in applications like construction, forestry, and urban delivery services. The ease of operation combined with the capability to handle various lifting tasks makes knuckle boom cranes increasingly popular. The rise in e-commerce and home delivery services is also contributing to the demand for these cranes, as they can easily navigate urban landscapes and deliver materials effectively.

Stiff Boom Truck Mounted Crane:

Stiff boom truck mounted cranes serve a crucial role in the market, particularly for heavy-duty applications. These cranes are known for their robustness and reliability, making them ideal for lifting heavy loads in industries such as construction, mining, and oil & gas. Their fixed boom structure offers stability and strength, which is essential for demanding environments where safety is a concern. As the construction and mining sectors continue to expand, the demand for stiff boom cranes is expected to rise, driven by their ability to handle larger weights efficiently. Furthermore, advancements in materials and engineering are improving the performance and durability of these cranes, making them more appealing to businesses looking for long-term investments.

Folding Boom Truck Mounted Crane:

Folding boom truck mounted cranes are characterized by their compact design, which allows for storage and transport without taking up excessive space. This feature is particularly beneficial for companies looking to maximize their fleet's efficiency. The folding mechanism enables operators to quickly deploy the crane and start lifting operations, making it suitable for various applications such as construction, emergency response, and utility maintenance. The growing trend towards smaller and lighter equipment due to space constraints in urban settings is propelling the demand for folding boom cranes. As industries seek flexibility and efficiency, the folding boom crane segment is anticipated to show significant growth in the coming years.

Articulating Boom Truck Mounted Crane:

Articulating boom truck mounted cranes are renowned for their maneuverability and flexibility, allowing them to navigate challenging work environments with ease. These cranes possess multiple joints that enable operators to position the boom in various angles, making them ideal for applications in construction, maintenance, and emergency services. The ability to reach over obstacles and access tight spots without extensive repositioning is a significant advantage that is driving their popularity. As industries increasingly require equipment that can operate effectively in complex environments, the art of articulating cranes is expected to expand significantly. The continuous innovation in design and technology is also contributing to their appeal, making them a key segment in the truck mounted crane market.

By Application

Construction:

The construction sector is one of the largest markets for truck mounted cranes, driven by the increasing number of infrastructure and building projects worldwide. These cranes are essential for lifting heavy materials such as steel beams, precast concrete panels, and large equipment on construction sites. The ability to quickly transport and deploy cranes on-site significantly enhances productivity, ensuring projects are completed on time. Additionally, the trend towards sustainable and eco-friendly construction practices is pushing companies to adopt modern cranes that comply with regulatory standards while offering enhanced operational efficiencies. As urban development continues to accelerate, the construction application of truck mounted cranes is expected to witness robust growth over the coming years.

Utilities:

Truck mounted cranes play a vital role in the utilities sector by facilitating the maintenance and installation of equipment like power lines, telecommunications, and water infrastructure. These cranes allow utility companies to reach high elevations and access difficult locations safely, ensuring timely maintenance and repairs. The increasing focus on upgrading aging infrastructure and expanding utility networks is driving demand in this segment. Additionally, the transition towards renewable energy sources is creating new opportunities for utility companies, further enhancing the need for specialized lifting equipment. As the utilities sector continues to evolve, the application of truck mounted cranes is poised for significant growth, driven by ongoing investments and advancements in technology.

Oil & Gas:

The oil and gas industry is a key application area for truck mounted cranes, primarily due to the need for heavy lifting equipment in extraction, transportation, and refining processes. These cranes are crucial for moving heavy machinery, pipes, and equipment in and out of drilling sites, refineries, and storage facilities. The demand for truck mounted cranes in this sector is expected to rise as global energy consumption increases and new reserves are explored. Moreover, the industry's push towards more efficient and safer operations is driving the adoption of modern cranes equipped with advanced technology. As investments in the oil and gas sector continue, the reliance on truck mounted cranes for critical operations is likely to expand significantly.

Forestry:

In the forestry sector, truck mounted cranes are employed extensively for timber harvesting and transportation. These cranes are designed to handle the unique challenges associated with lifting and moving logs, providing the necessary reach and stability for quick and efficient operations. As sustainable forestry practices gain importance, the demand for advanced lifting equipment that minimizes environmental impact is increasing. Truck mounted cranes enable forestry companies to operate more efficiently, reducing downtime and enhancing productivity. Furthermore, as the demand for timber and wood products continues to rise globally, the application of truck mounted cranes in forestry is anticipated to grow significantly, serving the industry's evolving needs.

Mining:

The mining industry relies heavily on truck mounted cranes for material handling and equipment maintenance. These cranes are used for lifting and transporting heavy mining equipment, as well as for supporting ongoing operations in often challenging terrains. As mining activities expand to meet the growing demand for minerals and metals, the need for efficient and reliable lifting solutions is on the rise. The ongoing advancements in crane technology, coupled with a focus on safety and efficiency, are driving the adoption of truck mounted cranes in this sector. With the increasing investments in mining operations globally, the application of truck mounted cranes is expected to see significant growth in alignment with industry trends.

By Distribution Channel

Direct Sales:

The direct sales channel has emerged as a dominant model in the truck mounted crane market, allowing manufacturers to engage directly with customers and offer tailored solutions. This approach facilitates better communication regarding customer requirements, leading to more personalized service and support. Direct sales also enable manufacturers to establish strong brand loyalty and awareness, as customers are more likely to trust and invest in products from manufacturers they are familiar with. As competition intensifies, manufacturers are increasingly focusing on enhancing their sales strategies through direct engagement with clients, thereby solidifying their position in the market. The growth of e-commerce platforms is further supporting the expansion of direct sales, providing customers with easy access to a broader range of crane options.

Indirect Sales:

Indirect sales channels, including distributors and dealers, are also significant contributors to the truck mounted crane market. These intermediaries provide a valuable service by bringing together various manufacturers' products and offering them to clients in a convenient manner. Distributors often have established relationships with local businesses, facilitating better market penetration and customer reach. Additionally, they provide part support, maintenance services, and after-sales support, which enhance customer satisfaction and retention. As businesses seek to optimize their procurement processes, the indirect sales channel is expected to witness continued growth, driven by the increasing demand for comprehensive solutions that include not only equipment sales but also ongoing support and service.

By Lifting Capacity

Up to 5 tons:

The 'up to 5 tons' lifting capacity segment represents a significant portion of the truck mounted crane market, primarily appealing to small and medium-sized enterprises. These cranes are highly versatile and can be used for various applications, including construction, maintenance, and logistics. Their compact size and lightweight design make them ideal for urban environments where space is a constraint. As the demand for smaller, more maneuverable cranes continues to grow, particularly in densely populated areas, the segment is anticipated to expand. The increasing focus on efficiency and cost-effectiveness in lifting operations further supports the demand for cranes in this lifting capacity category.

5-10 tons:

The 5-10 tons lifting capacity segment caters to a broad spectrum of industries, from construction to utility maintenance. These cranes strike a balance between power and maneuverability, making them suitable for various applications requiring moderate lifting capabilities. As businesses seek to streamline their operations and minimize downtime, the need for reliable cranes in this lifting capacity range is expected to grow. The versatility of these cranes allows operators to handle different materials efficiently, enhancing productivity across sectors. Moreover, advancements in technology are improving the performance and efficiency of cranes within this category, further driving market growth.

10-15 tons:

The 10-15 tons lifting capacity segment is gaining traction in industries that require heavier lifting solutions without compromising on mobility. These cranes are commonly used in construction sites for lifting substantial materials and equipment while providing the necessary reach and stability. As large-scale infrastructure projects become more prevalent, the demand for cranes in this lifting capacity category is expected to increase. The balance between power and portability makes these cranes a preferred choice for many contractors seeking efficient solutions. Additionally, the market is seeing innovations in design and materials, contributing to enhanced performance and safety features, which are vital for operators in high-demand environments.

15-20 tons:

The 15-20 tons lifting capacity segment is typically utilized in heavy-duty applications such as mining, oil and gas, and large-scale construction projects. These cranes provide the strength and stability needed to handle substantial loads, making them an essential tool in industries that involve rigorous lifting operations. As sectors such as construction and energy continue to expand, the demand for cranes in this lifting capacity range is anticipated to grow significantly. The ongoing development of advanced technologies that improve crane safety, efficiency, and ease of use is also expected to benefit this segment. As businesses invest in upgrading their equipment, the 15-20 tons segment is poised to capture a considerable share of the truck mounted crane market.

Above 20 tons:

The 'above 20 tons' lifting capacity segment is characterized by its focus on heavy-duty applications, catering to industries like construction, oil and gas, and mining. Cranes in this category are designed to lift massive loads safely and efficiently, making them indispensable in large construction projects and industrial settings. As the global demand for infrastructure development and resource extraction rises, the need for high-capacity cranes is expected to increase correspondingly. Moreover, manufacturers are continuously innovating in this space, developing cranes equipped with advanced technologies that enhance safety and operational efficiency. With the ongoing investments in infrastructure and industrial projects worldwide, the 'above 20 tons' lifting capacity segment is likely to experience sustained growth in the coming years.

By Region

The North American truck mounted crane market is expected to lead the global landscape, driven by strong construction activities and ongoing investments in infrastructure development. The region's robust economy, coupled with advancements in technology, creates significant opportunities for the growth of the truck mounted crane market. A CAGR of approximately 6% is projected for this region during the forecast period, reflecting the increasing demand for lifting equipment across industries such as construction, utilities, and oil & gas. The presence of established manufacturers and a growing emphasis on safety regulations further bolster market expansion in North America.

In Europe, the truck mounted crane market is also poised for substantial growth, fueled by the ongoing transformation of urban environments and the need for efficient lifting solutions in construction projects. The European market is characterized by a strong focus on sustainability and eco-friendly practices, prompting manufacturers to innovate and deliver energy-efficient cranes. The increasing demand for advanced technology and automation in lifting operations is expected to further propel market growth in the region. The Middle East and Africa are witnessing significant investments in infrastructure, leading to a rising demand for truck mounted cranes. Overall, regional dynamics indicate a balanced growth trajectory across major markets, driven by industry demands and technological advancements.

Opportunities

The truck mounted crane market is poised for numerous opportunities as industries continue to expand and modernize their operations. One significant opportunity lies in the adoption of advanced technologies such as telematics, automation, and IoT integration. These technologies can enhance crane performance, improve monitoring and maintenance capabilities, and ultimately lead to greater efficiency and safety in operations. As businesses seek to optimize their fleet management and reduce operational costs, the integration of smart technology into truck mounted cranes presents a compelling opportunity for manufacturers to innovate and differentiate their products in a competitive market. Furthermore, as companies increasingly focus on sustainability, there is a growing demand for eco-friendly cranes that comply with environmental regulations, creating an avenue for manufacturers to invest in greener technologies.

Another opportunity exists in emerging markets, particularly in Asia Pacific and Latin America, where rapid industrialization and urbanization are driving the demand for construction and infrastructure development. As these regions continue to evolve, investments in transportation and utilities will spur the need for reliable lifting solutions. Companies that establish a strong presence in these markets by understanding local needs and complying with regional regulations are likely to gain a competitive edge. Additionally, the trend towards rental models for construction equipment offers manufacturers an opportunity to diversify their business models and reach a broader customer base. By providing rental options, manufacturers can cater to companies seeking flexibility without the commitment of purchasing equipment outright, thereby tapping into new revenue streams.

Threats

Despite the positive outlook for the truck mounted crane market, several threats could challenge its growth trajectory. One notable threat is the volatility of raw material prices, which can significantly impact manufacturing costs and profit margins. Fluctuations in the prices of steel and other essential materials used in crane production can lead to increased expenses for manufacturers, potentially resulting in higher prices for end consumers. Moreover, the competition in the market is intensifying, with the entry of new players and the expansion of existing companies creating a highly competitive landscape. This heightened competition may lead to price wars, affecting profitability and market stability. Additionally, economic downturns, shifts in regulatory policies, and the potential for geopolitical tensions could also pose risks to market growth, underscoring the need for companies to remain agile and adaptable in a changing environment.

Another significant concern for the truck mounted crane market is the growing emphasis on safety and compliance regulations. While this trend can drive demand for modern cranes, it also poses a challenge for manufacturers looking to meet stringent safety standards. The increasing complexity of regulations can lead to higher compliance costs, impacting profitability and pricing strategies. Furthermore, the rapid pace of technological advancements necessitates continuous investment in research and development, which can strain resources, particularly for smaller manufacturers. As companies strive to keep up with innovations in the industry while maintaining safety and performance standards, the pressure to invest in R&D may limit their ability to focus on other crucial aspects of their operations.

Competitor Outlook

• Terex Corporation
• Palfinger AG
• XCMG Construction Machinery Co., Ltd.
• SANY Group
• Manitowoc Company, Inc.
• WOLFFKRAN GmbH
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• Link-Belt Cranes LLC
• National Crane
• Kato Works Co., Ltd.
• AUSA
• Hercules Cranes
• Niftylift Ltd.
• Liebherr Group
• JLG Industries, Inc.

The competitive landscape of the truck mounted crane market is characterized by a diverse range of manufacturers, each vying for market share through innovation, quality, and customer service. Established players such as Terex Corporation and Palfinger AG dominate the market, offering a wide array of products designed to meet varying industrial needs. These companies invest heavily in research and development, ensuring that their cranes are equipped with the latest technology and safety features. Additionally, the focus on customer relationships and after-sales support is paramount in this competitive environment, as companies aim to build long-term partnerships with clients. The competitive dynamics are also influenced by the growing trend of eco-friendly practices, prompting manufacturers to design cranes that are more energy-efficient and compliant with environmental regulations.

Emerging players such as XCMG and SANY Group are also making significant strides in the market, leveraging their manufacturing capabilities and cost advantages to offer competitive pricing. These companies are expanding their product portfolios and enhancing their distribution channels to reach a broader audience. Moreover, the increasing emphasis on rental services is prompting many manufacturers to adapt their business models, creating additional opportunities for growth. Companies are seeking strategic collaborations and partnerships to expand their market presence and enhance their product offerings. As the truck mounted crane market continues to evolve, staying ahead of market trends and customer needs will be essential for companies looking to maintain their competitive edge.