Truck-Mounted Crane Market Size, Share, and Growth Analysis, By Product Type (Stiff Boom, Knuckle Boom), By Drive (Electrical, Mechanical), By Terrain Type, By Lifting Capacity, By End Use, By Region - Industry Forecast 2025-2032

Truck-Mounted Crane Market size was valued at USD 12.1 billion in 2023 and is poised to grow from USD 12.78 billion in 2024 to USD 19.76 billion by 2032, growing at a CAGR of 5.6% during the forecast period (2025-2032).

The global Truck-Mounted Crane market is experiencing significant shifts, driven by heightened construction and infrastructure development activities. This versatile equipment is essential across various sectors, including construction, transportation, and logistics, as nations commit to enhancing their infrastructure. Consequently, the demand for efficient lifting and material handling solutions like truck-mounted cranes is surging. However, manufacturers face challenges from stringent emissions and safety regulations, necessitating a balance between compliance and performance. Additionally, the high initial investment required for acquiring these cranes may restrict access for small and medium-sized enterprises. As a result, while the market is poised for growth, stakeholders must navigate these regulatory and financial hurdles to capitalize on emerging opportunities.

Top-down and bottom-up approaches were used to estimate and validate the size of the Truck-Mounted Crane market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Truck-Mounted Crane Market Segments Analysis

Global Truck-Mounted Crane Market is segmented by Product Type, Drive, Terrain Type, Lifting Capacity, End Use and region. Based on Product Type, the market is segmented into Stiff Boom and Knuckle Boom. Based on Drive, the market is segmented into Electrical, Mechanical and Hydraulic. Based on Terrain Type, the market is segmented into On road, Rough terrain and All terrain. Based on Lifting Capacity, the market is segmented into Below 15 Ton, 15 to 30 Ton, 30 to 50 Ton and Above 50 Ton. Based on End Use, the market is segmented into Industrial, Commercial, Infrastructure and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Truck-Mounted Crane Market

The ongoing expansion of urban landscapes and infrastructure initiatives has significantly increased the demand for effective lifting and material handling solutions, which are provided by truck-mounted cranes. Furthermore, the rise of the construction sector in both established markets and developing economies contributes to the growing necessity for these multifunctional cranes. These trends reflect a broader movement toward modernization and efficiency in construction practices, underscoring the integral role that truck-mounted cranes play in facilitating various lifting tasks, thereby driving their market growth in response to evolving industry needs.

Restraints in the Truck-Mounted Crane Market

A significant restraint in the truck-mounted crane market is the necessity for manufacturers to comply with increasingly intricate emissions and safety regulations, which can create substantial challenges, impacting both production processes and overall costs. Additionally, the steep initial investment required to purchase truck-mounted cranes serves as another barrier; this high expenditure may discourage small and medium-sized enterprises from entering the market or from upgrading their current machinery. As a result, these combined factors can limit market growth and participation, making it difficult for companies to navigate the financial and regulatory landscape effectively.

Market Trends of the Truck-Mounted Crane Market

The Truck-Mounted Crane market is experiencing a notable trend toward the integration of telematics technology, offering real-time tracking, predictive maintenance alerts, and performance optimization that significantly enhance operational efficiency. This shift is complemented by a growing emphasis on environmental sustainability, spurred by stricter emissions regulations. Consequently, manufacturers are focusing on developing hybrid and electric solutions, aligning with the industry's move toward eco-friendly technologies. This dual trend not only addresses the operational demands of modern construction and logistics but also positions the market favorably for meeting regulatory compliance and corporate sustainability goals, ultimately driving innovation and growth in the sector.