Truck-Mounted Cranes Market to Reach USD 4.5 Billion by 2035 at 5.5% CAGR | TMR

Truck-Mounted Cranes Market valued at USD 2.5 Billion in 2024, projected to grow at 5.5% CAGR, reaching USD 4.5 Billion by 2035

WILMINGTON, DE, UNITED STATES, September 24, 2025 /EINPresswire.com/ -- The truck-mounted cranes market, valued at US$ 2.5 billion in 2024, is expected to grow at a CAGR of 5.5% to reach US$ 4.5 billion by 2035. These cranes, mounted on trucks, combine lifting and transportation in one machine, making them highly versatile for construction, logistics, and industrial projects. Their mobility, quick setup, and ability to operate in diverse environments make them a preferred choice across industries.

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Market Segmentation

Truck-mounted cranes serve multiple applications, from material handling and cargo loading to construction site operations. Their dual functionality reduces the need for additional equipment, lowering costs and project timelines. Industries such as construction, logistics, and energy are the primary users, benefiting from faster operations and increased efficiency.

Regional Analysis

Asia-Pacific leads the market, driven by massive infrastructure projects in China, India, and Southeast Asia. Investments in road networks, ports, and urban development have created strong demand for mobile cranes. North America and Europe also show steady growth, supported by government infrastructure initiatives, including the U.S. Infrastructure Investment and Jobs Act and the European Green Deal.

Market Drivers and Challenges

Key market drivers include the rising need for versatile, efficient equipment and increased global infrastructure spending. Truck-mounted cranes reduce setup time, save operational costs, and are effective in challenging terrains. Government projects worldwide are accelerating demand, emphasizing fast, flexible, and mobile lifting solutions.

However, challenges such as high upfront costs, maintenance, regulatory compliance, and operator skill requirements can limit adoption. Manufacturers need to address these barriers while delivering innovative and eco-friendly solutions.

Competitive Landscape

The truck-mounted cranes market is highly competitive, with global and regional players vying to offer innovative and reliable solutions. Leading companies such as SANY Group, Terex Corporation, Liebherr-International Deutschland GmbH, Konecranes Oyj, Cargotec Corporation, Elliott Equipment Company, Palfinger AG, Tadano Ltd., Hyva Group, and The Manitowoc Company, Inc. dominate the market. These companies continually invest in R&D to develop cutting-edge mobile lifting solutions that enhance productivity, operational efficiency, and environmental compliance.

Recent product launches, such as Manitowoc’s Grove TMC series for emerging markets and Liebherr’s LTM 1400-6.1 6-axle crane, demonstrate the focus on expanding product portfolios and meeting evolving market demands. Manufacturers are also emphasizing compact, lightweight, and technologically advanced cranes that are suitable for challenging job sites, further intensifying competition.

Future Outlook

The future outlook for the truck-mounted cranes market remains highly positive. Continued investments in global infrastructure, rising urbanization, and industrial expansion are expected to drive consistent demand over the next decade. Emerging markets, particularly in Asia-Pacific, Africa, and Latin America, offer significant growth opportunities due to ongoing industrialization and urban development. Technological advancements, including automation, IoT-enabled fleet management, and eco-friendly designs, will continue to shape the market landscape, enabling manufacturers to differentiate their offerings.

Key Market Study Points

• The truck-mounted cranes market is expected to grow from US$ 2.5 billion in 2024 to US$ 4.5 billion by 2035, at a CAGR of 5.5%.
• The Asia-Pacific region dominates the market, driven by massive infrastructure and construction investments.
• Key drivers include the demand for versatile cranes and increasing government infrastructure initiatives globally.
• Challenges include high capital costs, maintenance requirements, and regulatory compliance pressures.
• Market trends focus on technological innovation, automation, eco-friendly designs, and compact, lightweight crane models.
• Leading players are SANY Group, Terex, Liebherr, Konecranes, Cargotec, Elliott Equipment, Palfinger, Tadano, Hyva, and Manitowoc.
• Future opportunities lie in emerging markets, technological integration, and sustainable development initiatives.

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