Market report for truck cranes by “Fact.MR – market research and insights”
Truck crane sales surpassed 9,300 units in 2018, with demand in Asia Pacific being the first
The strong growth of the truck crane market is currently due to increasing investments in infrastructure-oriented development. In addition, optimism has emerged as important applications in the utility and power distribution sectors that require truck cranes. In order to examine the expected overall development of the market for truck-mounted cranes, Fact.MR has created a new assessment with the title “Truck Cranes Market Forecast, Trend Analysis, and Competitive Tracking – Global Market Insights 2018 to 2028“. The main aim of this study is to meticulously inform readers about the current and forecast trends that are likely to change the global truck crane market.
In order to highlight important facets, primary and secondary research will be carried out in the study. Almost all statistics and data representations come from credible sources, which makes this Fact.MR investigation a transparent insight into the global market for truck-mounted cranes. Based on this research report, the mobile crane market recorded sales of more than 9,300 units in 2018. With significant expansions pending in the near future, the global truck crane market is projected to grow by 4% CAGR over the period through 2028.
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Modern truck cranes ensure faster transport and effective lifting
Currently, the supply is growing rapidly to meet the growing demand for compact, efficient construction machinery in infrastructure projects. As a result, manufacturers are working to incorporate multiple operations into plants to offer higher productivity. Interestingly, upgrading a custom-built chassis can be seen as a prominent trend in which the practical integration of standard components such as tires, engine, etc. reduces maintenance costs. In order to provide equipment that is easy to maneuver and cost-effective, several manufacturers in the truck crane market are combining improved load capacities with easier transport.
Provisions for advanced standards for device life cycle
To be precise, the heavy duty machine industry has seen rapid implementation of advanced technology in the hopes of increasing the cost of ownership for machine downtime, along with a desire to increase uptime. In response, many manufacturers in the global truck crane market have incorporated multiple predictive maintenance technologies to provide enhanced maintenance and repair services. These expansions should spur growth in the truck crane market in the coming years.
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APEJ acquired a third of the volume in 2017
According to this Fact.MR study, the APEJ region held over 35% of the volume of the global truck crane market in 2017. The remarkable regional growth in APEJ is being driven by China due to its strong position in the equipment manufacturing sector. There is currently a high demand in the affected region for truck-mounted cranes with a load-bearing capacity of less than 150 tons, which are mainly required for urban infrastructure projects.
Finally, the research study on the global truck crane market ends with deeper insights into the competitive landscape. This part provides an expanded look at all of the major players in the global truck crane market. The prominent players include names such as Liebherr Group, Sany Heavy Industry Co., Ltd., Kato Works Co. Ltd., The Manitowoc Company, Inc., Tadano Ltd., Elliott Equipment Company (US), XCMG Construction Machinery Co., Ltd., Böcker Maschinenwerke GmbH (Germany), Manitex International Inc. (USA) and Terex Corporation (USA). Each of these players is analyzed in terms of company shares and sales comparison to assess their contribution to the global truck-mounted crane market.
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