Truck Mounted Crane Market Report 2025

The truck mounted crane market size has grown strongly in recent years. It will grow from $7.39 billion in 2024 to $7.8 billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to construction and infrastructure development, expansion of logistics and transportation, renewable energy projects, oil and gas exploration activities, urbanization and construction trends.

The truck mounted crane market size is expected to see strong growth in the next few years. It will grow to $10.19 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to infrastructure maintenance and repair, telecommunication tower installation, continued growth in renewable energy, expanding port and shipping activities, government investments in public projects. Major trends in the forecast period include customization for specific applications, focus on ergonomics and operator comfort, integration with fleet management systems, rental and leasing services, global expansion and market penetration.

The growing construction of public infrastructure is anticipated to boost the truck-mounted cranes market. Public infrastructure includes facilities and structures designed for public use, such as roads, public restrooms, and flyovers. Truck-mounted cranes are essential for urban infrastructure development due to their ability to transport raw materials and building blocks in tight, crowded spaces. For example, a report from the Infrastructure and Projects Authority, a UK government agency, indicates that there are currently 660 investment projects and programs planned across both public and private sectors. An estimated investment of around $204 billion is expected through 2024/25, with projections of $850-950 billion in total investments over the next decade. Furthermore, $78 billion of these investments will incorporate Modern Methods of Construction (MMC) within the next two years. Thus, the increasing construction of public infrastructure is fueling the growth of the truck-mounted cranes market.

The truck-mounted cranes market is expected to thrive due to the rising prominence of the Oil and Gas Industry. Crucial to the exploration, extraction, and transportation of oil and gas, this industry benefits from truck-mounted cranes for their versatility and efficiency in handling materials. Projections by the International Energy Agency foresee a 6% increase in global oil demand by 2028, reinforcing the sustained growth in this sector and subsequently driving the truck-mounted cranes market.

Key players in the truck-mounted cranes market are implementing innovative technologies to maintain their competitive edge. These advancements improve safety, operational efficiency, and environmental sustainability, enhancing the versatility and attractiveness of truck-mounted cranes across various industries. For example, in March 2024, Hiab, a company based in Sweden, launched the HIAB wspr, a next-generation electric hybrid crane solution aimed at improving load handling efficiency while promoting sustainability. This innovative crane features a dual power source, enabling operation via both the truck engine and a separate electric power take-off (ePTO), making it especially suitable for low- or no-emission zones. The HIAB wspr comes in three model variants: a standard model for larger market segments that can run for 1-2 days on a full charge, a light-duty model designed for drop-off applications with an integrated battery pack, and a heavy-duty model built for extended working hours, mounted directly on the truck chassis.

Companies operating in the truck-mounted cranes market are introducing innovative products, specifically Hybrid and Electric truck-mounted cranes, to sustain their market presence. These environmentally conscious solutions offer benefits such as cost savings, regulatory compliance, and meeting growing market demands. Böcker Maschinenwerke GmbH, a Germany-based manufacturer of lifting technology, launched a hybrid electric truck crane in July 2022. This model, fully powered by electricity, operates on a 27-tonne 6 x 2 Mercedes eActros truck, utilizing battery power for transit and operating purely on electricity while in crane mode. This initiative underscores Böcker's commitment to sustainable solutions within the construction and industrial sectors.

In May 2022, American Trailer World, a US-based trucks and trailers manufacturer, entered a partnership with Tiger Cranes. This collaboration aims to develop high-quality truck crane body designs, enhancing their collective lifting capabilities. Tiger Cranes, a brand under Service Trucks International, a US-based custom mechanics body manufacturer, brings its crane expertise to augment the premium truck crane body designs in this partnership.

Major companies operating in the truck mounted crane market include Liebherr Group, Xuzhou Construction Machinery Group Co Ltd., Kawasaki Heavy Industries Ltd., Sany Heavy Industry Co Ltd, Zoomlion Heavy Industry Science & Technology Co Ltd., F.lli Ferrari S.p.A., Terex Corporation, Liugong Machinery Co Ltd., Altec Inc., Palfinger AG, Tadano Ltd., KOBELCO Construction Machinery Co Ltd., Hyva Global B.V., Kato Works Co Ltd., Sims Crane & Equipment Co, Action Construction Equipment Ltd., Manitex International Inc, HMF Group, STAHL CraneSystems GmbH, Iowa Mold Tooling, Hidrokon, Effer S.p.A., Elliott Equipment Company, TIL Limited, Böcker Maschinenwerke GmbH, Furukawa Unic Corporation, Liaoning Fuwa Heavy Industry Machinery Co Ltd., Hydrauliska Industri AB, Fassi Gru S.p.A., Bonfiglioli Group, Cormach S.r.l., CraneWorks Inc., Altec Industries Inc., Amco Veba, UNIC Cranes Europe, Liftmoore Inc., KenzFigee.

Asia-Pacific was the largest region in the truck mounted crane market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global truck mounted crane market during the forecast period. The regions covered in the truck mounted crane market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the truck mounted crane market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

A truck-mounted crane is a specialized vehicle that combines a crane with a truck chassis, enabling the transportation and lifting of heavy loads directly from the truck. This design makes it versatile and efficient for a range of applications in industries like construction, logistics, and utilities.

Truck-mounted cranes come in several varieties, including articulating cranes, hydraulic cranes, telescopic cranes, and others. Articulating cranes feature a boom constructed with multiple foldable, pin-connected components that can be extended or contracted using hydraulic cylinder power. These cranes are powered by electrical, mechanical, or hydraulic drives, offering lifting capacities categorized as below 15 tons, 15 to 30 tons, 30 to 50 tons, and above 50 tons. They serve diverse end-users, including industrial, commercial, infrastructure, and others.

The truck mounted crane market research report is one of a series of new reports that provides truck mounted crane tire market statistics, including truck mounted crane industry global market size, regional shares, competitors with a truck mounted crane market share, detailed truck mounted crane market segments, market trends, and opportunities, and any further data you may need to thrive in the truck mounted crane industry. This truck mounted crane market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The truck mounted crane market consists of sales of mobile cranes, all-terrain cranes, and telescopic handler cranes. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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