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Global Truck Mounted Crane Market 2017-2021

Global Truck Mounted Crane Market 2017-2021

About Truck Mounted Crane

Truck-mounted cranes are principally used in civil engineering construction works and in heavy equipment manufacturing for material handling. They are mainly used to lift and lower materials from a specific height. Various types of cranes are utilized depending on particular circumstances and environment conditions and vary according to the project and work objective. For instance, truck cranes with variable outrigger position are frequently used in urban areas. Truck-mounted cranes are available in a wide variety of sizes, brands, weights, and lifting capacities, to satisfy any lifting requirement anywhere across the globe. Several types of truck-mounted cranes are engineered to have a working life of 7-10 years, provided that regular maintenance is performed.

Technavio’s analysts forecast the global truck mounted crane market to grow at a CAGR of 6.54% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global truck mounted crane market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of truck mounted cranes.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Truck Mounted Crane Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Liebherr
  • Manitowoc
  • Tadano
  • Terex
  • Xuzhou Construction Machinery Group (XCMG)
Other prominent vendors
  • Altec Industries
  • Böcker Maschinenwerke
  • Elliott Equipment Company
  • Hidrokon
  • KATO WORKS
  • Liaoning Fuwa Heavy Industry Machinery
  • Link-Belt
  • Liugong Machinery
  • MPG MAKİNA PRODÜKSİYON GRUBU
  • Manitex International
  • Manotti
  • Ormig
  • SANY GROUP
  • Socage
Market driver
  • Booming infrastructure construction
  • For a full, detailed list, view our report
Market challenge
  • Lack of skilled technicians and crane operators
  • For a full, detailed list, view our report
Market trend
  • Amplified adoption of equipment with aerial and crane mode of operation
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Truck Mounted Crane Market 2017-2021

Technavio recognizes the following companies as the key players in the global truck mounted crane market: Liebherr, Manitowoc, Tadano, Terex, and Xuzhou Construction Machinery Group (XCMG)

Other Prominent Vendors in the market are: Altec Industries, Böcker Maschinenwerke, Elliott Equipment Company, Hidrokon, KATO WORKS, Liaoning Fuwa Heavy Industry Machinery, Link-Belt , Liugong Machinery, MPG MAKİNA PRODÜKSİYON GRUBU, Manitex International, Manotti, Ormig, SANY GROUP, and Socage

Commenting on the report, an analyst from Technavio’s team said: “Increasing rentals of truck-mounted cranes will lead to an increase in the purchase of truck-mounted cranes by rental organizations to keep their feet updated with the latest models. Several end-users prefer to rent truck-mounted cranes rather than purchase them due to the volatile nature of the construction industry. Owing to the temporary need for truck-mounted cranes in building projects and maintenance activities, market customers often opt to rent truck-mounted cranes instead of making a purchase. This will lead to the growth in the volume of equipment. The crane equipment industry is capital-intensive. Funds are required for the acquisition and maintenance of equipment fleets, secure storage facilities, and for equipment operations. Factors such as cash inflows from businesses, equipment utilization, dollar and time utilization, and higher prices, have contributed to the growth of the rental market.”

According to the report, massive spending on infrastructure construction projects, especially by the developing nations has been the major growth driver for all construction activities. These nations are expected to witness a continuous growth over the forecast period. However, the adoption of high-capacity truck-mounted cranes in construction activities is very low or nearly negligible in most developing economies. Nonetheless, with the increasing complexity and size of projects in these regions, the market is anticipated to grow faster than other regions. Investments by the developed economies in the refurbishment of their aging infrastructure and the demand for office space are anticipated to boost the market during the forecast period. The construction industry is one of the major end-users of truck-mounted cranes in the global truck-mounted crane market. The growth of this industry has a direct impact on the global truck-mounted crane market.

Further, the report states that the shortage of skilled technicians for maintenance of truck-mounted cranes will significantly increase the cost of maintenance of the machine, ultimately hindering market growth as end-users might switch to other cost-effective alternatives. One of the most cost-effective ways to increase fleet profitability is to improve preventive maintenance. This strategy increases equipment reliability and life, while it shrinks the parts inventory, minimizes major repairs, and cuts down on overall shop hours. Major fleet operators have seen the equipment downtime drop by 18%-21%, technician productivity increases above 80%, and overall maintenance cost per mile goes down by approximately 7%. These improvements were brought about when operators ramped up the training and preventive maintenance programs.

Companies Mentioned

Liebherr, Manitowoc, Tadano, Terex, Xuzhou Construction Machinery Group (XCMG), Altec Industries, Böcker Maschinenwerke, Elliott Equipment Company, Hidrokon, KATO WORKS, Liaoning Fuwa Heavy Industry Machinery, Link-Belt , Liugong Machinery, MPG MAKİNA PRODÜKSİYON GRUBU, Manitex International, Manotti, Ormig, SANY GROUP, and Socage

  • Executive summary
  • Scope of the Report
  • Research Methodology
  • Introduction
    • Key market highlights
      • Table Regional growth matrix 2016-2021
      • Table Values represented in regional growth matrix
      • Table End-user growth matrix 2016-2021
      • Table Values represented in end-user growth matrix
  • Market landscape
    • Market overview
      • Table Global truck-mounted crane market segmentation
    • Market size and forecast
      • Table Global truck-mounted crane market 2016-2021 ($ millions)
      • Table Global urban population as a percentage of the total population 2008-2015 (%)
      • Table Production and consumption of natural gas in OECD Americas (billion cubic meters)
      • Table Construction output index in EU (2010=100)
      • Table Growth in total infrastructure spending in APAC (%)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by end-user
    • Global truck-mounted cranes market segmentation by end-user
      • Table Global truck-mounted crane market segmentation by end-user in 2016 and 2021 (%)
    • Global truck-mounted crane market in construction segment
      • Table Global truck-mounted crane market in construction segment 2016-2021 ($ millions)
      • Table Commercial service exports in India and China 2008-2015 ($ millions)
    • Global truck-mounted crane market in industries
      • Table Global truck-mounted crane market in industries segment 2016-2021 ($ millions)
      • Table Global GDP forecast 2016-2021 ($ trillions)
    • Global truck-mounted crane market in utilities
      • Table Global truck-mounted crane market in utilities segment 2016-2021 ($ millions)
      • Table Total renewable energy supply in OECD countries 2010-2015 (million TOE)
      • Table Growth in the global spending on utilities sector 2016-2021 (%)
  • Geographical segmentation
    • Global truck-mounted crane market segmentation by geography
      • Table Global truck-mounted crane market segmentation by geography 2016 and 2021 (%)
    • Truck-mounted crane market in APAC
      • Table Truck-mounted cranes market in APAC 2016-2021 ($ millions)
      • Table Infrastructure spending in APAC 2016-2021 (%)
      • Table Key upcoming projects in APAC:
    • Truck-mounted crane market in Americas
      • Table Truck-mounted crane market in Americas 2016-2021 ($ millions)
      • Table GDP growth in Americas 2010-2015 ($ trillions)
      • Table Annual Unemployment rate in US 2010-2016 (%)
      • Table Key upcoming infrastructure projects in Americas
      • Table Shale production in the US 2007-2015 (billion cubic feet)
    • Global truck-mounted cranes market in EMEA
      • Table Truck-mounted crane market in EMEA 2016-2021 ($ millions)
      • Table Key projects in MEA
      • Table Key infrastructure projects in Europe
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global construction spending 2016-2021 ($ trillions)
      • Table Global annual installed wind capacity 2010-2016 (MW)
      • Table Country-wise wind power installation 2016 (MW)
      • Table Regional split of new wind installation targets by 2020 (%)
    • Impact of drivers on key customer segments
      • Table Impact of drivers
    • Market challenges
    • Impact of challenges on key customer segments
      • Table Impact of challenges
  • Market trends
    • Rising rentals
    • Increased focus on worker safety
    • Growing adoption of technology
    • Amplified adoption of equipment with aerial and crane mode of operation
  • Vendor landscape
    • Competitive landscape
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Liebherr
      • Table Liebherr: Product segmentation
      • Table Liebherr: Truck-mounted crane product range
      • Table Recent developments: Liebherr
    • Manitowoc
      • Table Manitowoc: Product segmentation
      • Table Manitowoc: Truck-mounted crane product and service range
      • Table Grove truck-mounted cranes
      • Table National Crane products: Truck-mounted cranes
      • Table Recent developments: Manitowoc
    • Tadano
      • Table Tadano: Truck-mounted crane product and service range
      • Table Tadano truck-mounted crane products
      • Table Tadano: Recent developments
    • Terex
      • Table Product segments of Terex
      • Table Terex: Product portfolio
      • Table Terex: Truck-mounted crane product and service range
      • Table Recent developments: Terex
    • Xuzhou Construction Machinery Group (XCMG)
      • Table XCMG: Truck-mounted crane product and service range
      • Table XCMG: Truck-mounted crane product and service range
      • Table XCMG: Recent developments
  • Appendix
    • List of abbreviations
  • Explore Technavio

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