Demand for Truck Cranes is Expected to Increase at a CAGR of About 4% : Fact.MR

Segmentation

The truck cranes market report provides market segmentation wherein the track cranes market is categorized based on end-use application, lifting capacity and region.

The market structure with these details covers all the vital aspects of the heavy-duty equipment industry.

Based on end-use application, demand for truck cranes remains steady from the end use applications including commercial, construction site, industrial applications, forestry, shipyard and others.

In terms of lifting capacity, the truck cranes market is segmented into truck cranes with less than 150 tonnes, 150-300 tonne and greater than 300 tonnes.

The truck cranes market structure also includes regional analysis wherein the truck cranes market is studied for North America, Latin America, Europe, Japan, APEJ and MEA.

The regional analysis covers the supply-demand equation of truck crane in these regions and a thorough country-wise analysis.

Few of the profiled players in the truck cranes market are

• Liebherr Group
• Kato Works Co. Ltd.
• Sany Heavy Industry Co., Ltd.
• Tadano Ltd.
• The Manitowoc Company Inc.
• XCMG Construction Machinery Co., Ltd.
• Elliott Equipment Company (U.S.)
• Böcker Maschinenwerke GmbH (Germany)
• Terex Corporation (U.S.)
• Manitex International Inc. (U.S.)

Truck Cranes Market Scope Of The Report

Fact.MR’s report titled “Truck Cranes Market Forecast, Trend Analysis and Competition Tracking – Global Market Insights 2018 to 2028,” offers holistic insights and accurate forecast on the truck cranes market for the period between 2018 and 2028.

Important dynamics such as growth drivers, opportunities, challenges, and trends, which shape prospects of the truck cranes market have been analyzed in the report. The size of the truck cranes market has been offered in terms of value (US$ Mn) and volume (units).

According to Fact.MR,, the truck cranes market is foreseen to register volume sales of over 9,300 Units in 2018, up by370 units in 2017. Overall growth of the market can be attributed to,

• Increasing investments in infrastructure-oriented development
• Buoyancy in utilities and power distribution sectors where truck cranes find significant application
• OEMs’ efforts to expand truck crane product portfolio with enhanced operational efficiency

While demand for construction and heavy-duty equipment remains perennial, Fact.MR says that divergent applications of truck cranes across industry verticals are likely to maintain the sustainability of truck cranes market in the future.

APEJ Held over One-third Volume Sales in 2017, Japan to Witness Rapid Expansion

Fact.MR estimates APEJ held over 35% of truck cranes sales in 2017 and the status-quo will prevail in 2018. The growth of truck cranes market in APEJ is led by China with its stronghold in the equipment manufacturing sector that provides affordable yet advanced machinery. The region presents a strong demand for truck cranes with lifting capacity less than 150 tonnes on the back of ongoing urban infrastructure projects.

“Owing to their cost-intensive nature, end-users demand durability and reliability in heavy-duty equipment. As quality reputation of cranes manufactured in Japan continues to gain traction at the global stage, Japan has become a prominent exporter of truck cranes in the global market,” says a senior analyst at Fact.MR.

“With its know-how in the construction manufacturing, Japan is accommodating divergent regional trend in the development of truck cranes and will register a significant 4.5% Y-o-Y growth in 2018,” added the analyst.

Fact.MR estimates that MEA will register the second highest demand for truck cranes in 2018 against the backdrop of a huge number of in-pipeline mega projects. The study estimates that Europe will closely follow MEA, amid stringent EU emission limits on construction equipment.

Truck Cranes with ‘150 tonnes Lifting Capacity’ Register Highest Volume Sales

The study opines that the truck cranes with lifting capacity of less than 150 tonnes will be highly sought after and hold over 78% truck crane sales in 2018. This demand can be attributed to rising demand for compact-sized equipment as they deliver greater transportation feasibility and easy maneuverability on-site. In terms of value, however, Fact.MR estimates that truck cranes with 300 tonnes lifting capacity are estimated to register over US$ 670 Mn revenues in 2018.

Fact.MR study estimates that commercial and construction sites will register comparable demand for truck cranes wherein construction application will outsell the commercial application with just 2 units in 2018 on the back of rising application in utilities and power distribution sectors.

A powerful cylinder technology in telescopic boom plays a vital role in enhancing truck crane’s outreach to greater heights with efficiency. Fact.MR study reveals that manufacturers in the truck crane market have introduced advanced truck cranes with a hydraulic telescopic boom that delivers faster access and enhanced productivity.

Further, Manufactures in the truck cranes market are engaged in product development to increase efficiency and overall productivity. Technology implementations made in the advanced models of truck cranes are aimed at staying ahead of consumer demand. Fact.MR says that by leveraging these strategies prominent market players have introduced significant developments in truck cranes. In addition, stringent emission standards have led the implementation of low-emission engines and fuel-efficient components in modern truck cranes.

The Fact.MR report tracks the truck cranes market for the period 2018-2028. According to the report, the truck cranes market is projected to grow at over 4% CAGR through 2028.