Market Highlights:
Market Research Future published a half-cooked research report on Global Truck Crane Market that contains the information from 2017 to 2023. Global truck crane market is expected to grow with the CAGR of approximately 4.43% from 2017 to 2023.
Crane is primarily used for lifting heavy loads and transporting them to other places. The truck is a type of mobile crane. Truck cranes are principally used in civil engineering construction works and in heavy equipment manufacturing for material handling. Growing construction sector across the globe, is driving the growth of the market. Additionally, increasing investments in power transmission and distribution (T&D) networks, also drives the market growth. However, the high maintenance cost and high initial investment, may hamper the growth of the market.
Hence, global truck cranes market is expected to grow at 4.43% CAGR during the forecast period.
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Scope of the Report
This study provides an overview of the global truck crane market, tracking two market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the global Truck crane market by its type, by application, and region.
By Type
- Mounted Cranes
- Sidelift Crane
- Boom Truck Crane
- Others
By Application
- Residential
- Non-residential
By End Use
- Construction
- Industries
- Utilities
- Others
By Region
- North America
- Asia Pacific
- Europe
- Rest of the World
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- Liebherr Group (Switzerland)
- The Manitowoc Company, Inc. (U.S.)
- Terex Corporation (U.S.),
- Tadano Ltd. (Japan)
- Xuzhou Construction Machinery Group Co., Ltd. (China)
- Kato Works Co., Ltd (Japan)
- Elliott Equipment Company (U.S.)
- Manitex International Inc. (U.S.)
- Sany Group (China)
- Altec Industries (U.S.)
- Böcker Maschinenwerke GmbH (Germany)
Asia Pacific region dominates the global truck crane market
Geographically, the global truck crane market has been divided into the four major regions of North America, Europe, Asia Pacific and Rest of the World. Asia Pacific, of all the regions, has accounted for the largest market share, in 2016, followed by Europe. Asia Pacific is expected to grow at the highest CAGR during the forecast period. Increase in construction activities in countries such as China, Japan, India, and Indonesia in Asia Pacific region, is the major factor fuelling the growth of the market. Additionally, increase in industrialization, rising urbanized population, and growth in purchasing power, raise the growth of the market in Asia Pacific region. China is one of the leading markets in the Asia Pacific region. The Chinese Government issued several favorable policies for lowering the proportion of down payment for second house loans and exempting of sales tax for ordinary housing, which helped the recovery of commercial housing market. These factors have a positive influence on the growth of the market.
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