Truck Mounted Crane Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Knuckle Boom Cranes, Telescopic Boom Cranes, Stiff Boom Cranes, Hydraulic Cranes), By Capacity (Below 10 Tons, 10–20 Tons, 20–50 Tons, above 50 Tons), By End-User Industry (Construction, Oil & Gas, Mining, Logistics & Transportation, Utility & Maintenance, Others), By Region & Competition, 2020-2030F

Market Overview

The Global Truck Mounted Crane Market was valued at USD 13.46 Billion in 2024 and is expected to reach USD 21.10 Billion by 2030 with a CAGR of 7.62% during the forecast period. 

The global truck-mounted crane market is experiencing significant growth due to increasing infrastructure development, industrial expansion, and rising demand for efficient material handling solutions across various sectors. Truck-mounted cranes are widely used in construction, logistics, utilities, mining, and oil & gas industries, offering high mobility, flexibility, and lifting capabilities. The market is driven by the need for cost-effective and time-efficient lifting solutions, reducing reliance on multiple machines and minimizing operational downtime. The integration of advanced technologies, such as telematics, automation, and IoT-enabled cranes, is further revolutionizing the industry, enhancing safety, efficiency, and remote monitoring capabilities.

One of the key factors fueling the demand for truck-mounted cranes is the rapid urbanization and infrastructure boom in emerging economies, particularly in Asia Pacific, the Middle East, and Africa. Governments worldwide are investing in smart city projects, commercial buildings, roads, and energy infrastructure, driving the need for advanced lifting equipment. In China and India, for instance, large-scale construction projects and increasing foreign direct investments (FDIs) are accelerating market growth. Additionally, the expansion of renewable energy projects, such as wind and solar farms, requires efficient crane operations for installation and maintenance, further boosting demand.

The oil & gas and mining sectors also play a significant role in market expansion, as these industries rely heavily on truck-mounted cranes for transporting heavy equipment, pipeline installation, and offshore operations. North America, led by the United States and Canada, dominates the market due to strong industrialization, ongoing shale gas exploration, and high demand for mobile lifting solutions in logistics and infrastructure projects. Meanwhile, Europe is witnessing steady growth, supported by urban redevelopment projects and investments in renewable energy sectors.

The rising preference for electric and hybrid truck-mounted cranes is another notable trend in the industry, driven by stringent emission regulations, sustainability initiatives, and demand for energy-efficient machinery. Manufacturers are focusing on lightweight yet durable materials, improved hydraulics, and automation features to enhance performance and reduce fuel consumption. Additionally, the increasing adoption of leasing and rental services is making these cranes more accessible to small and medium-sized enterprises (SMEs), further contributing to market expansion.

Despite the positive outlook, the industry faces challenges such as high initial investment costs, fluctuating raw material prices, and stringent safety regulations. However, ongoing technological advancements, product innovations, and strategic collaborations between key market players are expected to mitigate these challenges and drive sustained growth in the global truck-mounted crane market over the coming years. 

Key Market Drivers

Rapid Infrastructure Development and Urbanization

The growing emphasis on infrastructure development across developed and emerging economies is a primary driver for the truck-mounted crane market. Governments worldwide are investing heavily in smart cities, transportation networks, and commercial buildings, increasing demand for mobile and efficient lifting solutions. For example, in China’s 14th Five-Year Plan (2021–2025), the country allocated USD4.2 trillion to infrastructure projects, significantly boosting construction activities. Similarly, India plans to spend USD1.4 trillion under the National Infrastructure Pipeline (NIP) by the end of 2025, leading to heightened demand for truck-mounted cranes in road, bridge, and metro rail projects. Additionally, the European Union’s euro 750 billion (USD 808.78 billion) COVID-19 recovery fund includes substantial allocations for infrastructure modernization, driving crane deployment across member states.

Expansion of the Oil & Gas and Mining Industries

Truck-mounted cranes play a critical role in oil exploration, refinery maintenance, and mining operations, making them indispensable for these industries. The global oil & gas industry is expected to invest over USD600 billion in upstream projects in 2024, increasing the need for material handling and heavy lifting solutions. In the Middle East, Saudi Arabia’s Vision 2030 initiative includes massive investments in energy infrastructure, such as the USD 110 billion Jafurah gas project. Similarly, the mining sector in Latin America is witnessing a surge in activity, with Brazil and Chile planning to increase mineral extraction, requiring heavy-duty cranes for site development and equipment transportation.

Rising Adoption of Automation and Telematics in Cranes

Technological advancements, particularly in automation, telematics, and AI-driven monitoring, are transforming the truck-mounted crane industry. IoT-enabled cranes allow real-time tracking, load monitoring, and predictive maintenance, reducing operational downtime by up to 30%. For instance, Liebherr’s LICCON system provides real-time crane data, optimizing load control and improving safety. Furthermore, remote-controlled cranes are gaining traction in hazardous environments, such as nuclear power plants and offshore oil rigs.

Increasing Demand for Rental and Leasing Services

The high capital investment required for truck-mounted cranes is driving the popularity of rental and leasing services, particularly among small and medium-sized enterprises (SMEs). The construction equipment rental market is projected to grow by 5-7% annually, with truck-mounted cranes being a significant contributor. In North America, more than 65% of construction firms opt for renting heavy equipment rather than purchasing, reducing upfront costs and maintenance expenses. Additionally, the growing number of rental companies, such as United Rentals, Ashtead Group, and Sarens, is expanding access to advanced crane technologies, enabling more businesses to leverage high-performance lifting solutions.

Stringent Safety and Sustainability Regulations Driving Electric and Hybrid Cranes

Governments and regulatory bodies worldwide are enforcing strict emission norms and workplace safety regulations, pushing the demand for electric and hybrid truck-mounted cranes. The European Union’s Stage V emissions regulations and California’s strict air quality laws are prompting manufacturers to develop greener alternatives. Companies like Palfinger and Hiab have introduced fully electric and hybrid cranes, reducing fuel consumption by 30-40% and lowering CO₂ emissions. Additionally, safety measures such as overload protection systems and anti-collision technologies are being increasingly integrated into modern cranes, ensuring compliance with OSHA and ISO standards, while simultaneously boosting operational efficiency.

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Key Market Challenges

High Cost of Acquisition and Ownership

One of the biggest challenges in the truck-mounted crane market is the high cost of purchasing and maintaining these machines. Truck-mounted cranes require substantial capital investment, often reaching hundreds of thousands of dollars, depending on the lifting capacity, boom length, and technological features. Beyond the initial cost, businesses must bear recurring expenses such as insurance, fuel, and maintenance. Regular servicing, replacement of hydraulic components, and compliance with evolving safety regulations add to the financial burden. Many small and medium-sized enterprises find it difficult to invest in these cranes, leading them to rely on rental or leasing options, which may not always align with project needs.

Fluctuating Raw Material Prices

The production of truck-mounted cranes heavily depends on raw materials such as steel, aluminum, and hydraulic components, making the industry vulnerable to price fluctuations. Global economic shifts, trade tariffs, and supply chain disruptions significantly impact the cost of these essential materials. For example, steel prices have surged in recent years due to supply chain constraints and increasing demand in the construction and automotive sectors. These fluctuations force manufacturers to either absorb higher costs, reducing profit margins, or pass them on to customers, making cranes more expensive. Additionally, the rising cost of electronic components, essential for automation and safety systems, further increases production expenses.

Stringent Regulatory and Safety Compliance

Governments and industry bodies worldwide impose strict safety and environmental regulations on truck-mounted crane operations. Compliance with these evolving regulations requires manufacturers to invest in advanced safety features, emission control technologies, and enhanced load monitoring systems. For instance, the European Union’s Stage V emission standards and OSHA regulations in North America necessitate additional pollution control measures, increasing manufacturing costs. Non-compliance can lead to fines, legal liabilities, and restrictions on market access. Smaller companies often struggle to keep up with these regulatory requirements, limiting their ability to compete with larger, more established players.

Shortage of Skilled Operators and Technicians

The operation of truck-mounted cranes requires specialized training and certification, but there is a growing shortage of skilled operators and technicians worldwide. Many experienced crane operators are retiring, and younger professionals are reluctant to enter the field due to the rigorous training requirements and physically demanding nature of the job. The lack of qualified personnel leads to project delays, increased labor costs, and inefficiencies in crane utilization. Companies are investing in operator training programs and automation solutions to bridge the skills gap, but these efforts require time and financial resources, making workforce shortages a persistent industry challenge.

Supply Chain Disruptions and Logistics Issues

Global supply chain disruptions continue to impact the truck-mounted crane market. The COVID-19 pandemic, geopolitical tensions, and trade restrictions have caused delays in the production and delivery of key components such as hydraulic systems, steel structures, and electronic control units. Even after the pandemic, logistical challenges such as port congestion, transportation bottlenecks, and fluctuating freight costs have added uncertainty to supply chains. The unpredictable availability of raw materials and finished products forces manufacturers to find alternative sourcing strategies, often at higher costs. Additionally, import/export tariffs and regional trade policies further complicate global market expansion efforts.    

Key Market Trends

Growing Demand from the Infrastructure and Construction Sector

The rising number of large-scale infrastructure projects worldwide is fueling the demand for truck-mounted cranes. Governments are investing heavily in transportation networks, urban development, and renewable energy projects, driving the need for heavy lifting equipment. In countries like China, India, and the United States, massive investments in roads, bridges, and high-rise buildings have led to increased adoption of truck-mounted cranes due to their versatility and mobility. The construction sector prefers these cranes for their ability to handle diverse lifting tasks with minimal setup time. Additionally, the expansion of smart cities and mega projects such as airports, railways, and industrial complexes further contributes to market growth. For example, in 2023, the U.S. government announced significant funding for infrastructure development, increasing demand for advanced lifting solutions. The construction industry’s reliance on efficient material handling and lifting equipment continues to boost the adoption of truck-mounted cranes, positioning them as essential assets in infrastructure development.

Shift Toward Lightweight and High-Capacity Cranes

Truck-mounted crane manufacturers are focusing on designing lighter yet more powerful cranes to improve efficiency and versatility. The demand for high-capacity lifting solutions has led to the development of cranes with advanced materials such as high-strength steel and carbon fiber, which reduce weight while maintaining structural integrity. Lighter cranes offer better fuel efficiency and increased payload capacity, making them attractive for logistics, construction, and energy sectors. Additionally, innovations in telescopic boom technology allow cranes to extend higher and lift heavier loads without compromising stability. Modern truck-mounted cranes are now equipped with modular designs, enabling easy customization for various applications. The oil and gas industry, for instance, requires cranes with long reach and high load capacity for pipeline installations and refinery maintenance. As industries prioritize efficiency and operational cost reduction, the trend toward lightweight yet high-capacity cranes is expected to continue shaping the market.

Expansion of Rental and Leasing Services

The rising cost of truck-mounted cranes and the financial constraints faced by many companies are driving the growth of rental and leasing services. Many construction and logistics companies prefer renting cranes rather than purchasing them to reduce upfront capital expenditures. Rental services offer flexibility, allowing businesses to use different crane models based on specific project needs. Additionally, leasing agreements provide access to the latest crane technologies without the burden of ownership costs such as maintenance and depreciation. The growing preference for rental solutions has led crane manufacturers and rental service providers to expand their fleets with advanced models featuring automation and telematics. In regions such as Asia-Pacific and the Middle East, the construction boom has further increased demand for rental services, making it a lucrative segment within the truck-mounted crane market. The trend toward short-term equipment usage is expected to continue, especially among small and medium-sized enterprises looking to optimize operational expenses.

Segmental Insights

Type Insights

Knuckle Boom Cranes segment dominates in the Global Truck Mounted Crane market in 2024 due to its superior flexibility, compact design, and growing demand across multiple industries. Unlike traditional stiff boom cranes, knuckle boom cranes feature an articulated arm that folds and extends like a human finger, enabling precise lifting operations in confined spaces. This design makes them highly efficient in urban construction, logistics, and utility applications where maneuverability is crucial.

One of the key reasons for their dominance is the increasing adoption in construction and infrastructure projects. Many governments worldwide are investing heavily in urban infrastructure development, requiring cranes that can operate efficiently in tight spaces. Knuckle boom cranes, with their ability to lift and position loads with extreme accuracy, are becoming the preferred choice for tasks such as material handling in congested construction sites, road maintenance, and bridge repairs. Their compact structure allows them to be mounted on smaller trucks while maintaining high lifting capacity, making them ideal for urban and industrial settings.

Another major driver is the logistics and transportation sector, where the need for efficient material handling solutions is rising. Knuckle boom cranes are widely used for loading and unloading heavy cargo, particularly in industries such as shipping, warehousing, and oil & gas. Their ability to fold when not in use ensures they do not occupy excessive space, making them highly functional for mobile operations.

Additionally, advancements in automation and control systems have further strengthened the adoption of knuckle boom cranes. Many modern cranes come equipped with remote control operation, load monitoring sensors, and safety features, enhancing operational efficiency and worker safety. With continuous technological improvements and rising demand across various industries, knuckle boom cranes maintain their dominant position in the global truck-mounted crane market in 2024.

End-User Industry Insights

Construction segment dominates in the Global Truck Mounted Crane market in 2024 due to rising infrastructure development, urbanization, and increased investment in residential and commercial projects. Governments worldwide are funding large-scale projects such as bridges, highways, and smart cities, driving demand for efficient lifting solutions. Truck-mounted cranes provide mobility, high load capacity, and flexibility, making them essential for heavy material handling in confined urban spaces. Additionally, advancements in crane automation, safety features, and fuel efficiency further boost their adoption in the construction sector. The need for rapid project execution and cost-effective lifting solutions cements construction as the leading segment in the market.

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Regional Insights

Largest Region

North America dominates the Global Truck Mounted Crane market in 2024 due to strong demand from construction, energy, and logistics sectors, along with advanced infrastructure and technological innovations. The region's dominance is driven by increasing government investments in large-scale infrastructure projects, including highways, bridges, and commercial buildings. The U.S. government’s focus on upgrading aging infrastructure, supported by initiatives like the Infrastructure Investment and Jobs Act (IIJA), significantly boosts demand for truck-mounted cranes, particularly in urban and industrial construction.

The oil & gas industry in North America is another major factor contributing to the market’s growth. The United States and Canada have extensive oil exploration and production activities, requiring truck-mounted cranes for equipment transportation, pipeline installation, and maintenance. With shale gas and offshore drilling projects expanding, the need for mobile and high-capacity lifting solutions continues to rise, reinforcing North America’s dominance in this segment.

The logistics and transportation sector also plays a critical role. With increasing e-commerce and trade activities, there is a growing need for efficient material handling and warehousing solutions. Truck-mounted cranes enable quick and safe loading/unloading operations, making them indispensable for freight and supply chain industries. Additionally, the presence of leading market players such as Manitowoc, Terex, and Altec enhances the availability of technologically advanced cranes with improved automation, remote monitoring, and enhanced safety features.

Furthermore, stringent safety regulations and high labor costs in North America drive the adoption of automated and advanced lifting solutions. Many companies are investing in cranes equipped with smart control systems to improve operational efficiency and minimize risks. With strong industrial demand, infrastructure investments, and technological advancements, North America remains the dominant player in the global truck-mounted crane market in 2024.

Emerging Region

Europe is the emerging region in the Global Truck Mounted Crane market in the coming period due to rising infrastructure investments, renewable energy expansion, and increasing urbanization. Governments across the region are investing in road networks, smart cities, and commercial projects, driving demand for mobile lifting solutions. The rapid adoption of renewable energy projects, especially wind farms, requires truck-mounted cranes for turbine installation and maintenance. Additionally, advancements in automation and telematics enhance crane efficiency and safety, attracting more users. With strict environmental regulations, European manufacturers are also innovating electric and hybrid cranes, positioning the region as a key growth market in the coming period.

Recent Developments

• In December 2024, Hiab, a subsidiary of Cargotec, signed a strategic dealer agreement with Ring Power Utility | Truck | Crane in the U.S. This partnership covers the distribution of HIAB loader cranes and related services across 11 locations. Established in 2008, Ring Power has become a leader in utility equipment, vocational trucks, and cranes, offering premium products and exceptional service. The agreement strengthens Hiab’s market presence and enhances accessibility to its advanced loader crane solutions across key U.S. markets.
• In November 2023, Driveline GB Ltd, a vehicle rental firm based in Cornwall, integrated HIAB crane technology into its fleet to improve safety and operational efficiency. The company leased a Volvo FM420 chassis with a HIAB X-HIDUO 228E-2 crane to Mackenzie Glass, an independent merchant in Bristol. The crane features HIAB's SPACE Evo control system and XS Drive radio remote control, ensuring enhanced precision and safety. This move reflects the growing industry shift toward advanced lifting solutions that offer long-term value and improved operational control.
• In October 2024, Manitowoc introduced a new range of Grove truck-mounted cranes tailored for emerging markets at a launch event in Dubai, UAE. The company showcased the Grove TMC550 and introduced two additional models, TMC250 and TMC750, designed specifically for the Middle East, Africa, and Latin America. This strategic expansion aims to address rising infrastructure demands in these regions, offering versatile and cost-effective lifting solutions suited for various industries, including construction, oil & gas, and logistics.
• In June 2024, Liebherr’s Ehingen factory in Germany unveiled the LTM 1400-6.1, the world’s most powerful 6-axle crane. Featuring a 70-metre telescopic boom, the crane introduces simplified setup processes and enhanced lifting capacity, succeeding the widely successful LTM 1350-6.1. This innovation reinforces Liebherr’s market leadership by offering advanced lifting technology tailored for complex heavy-duty applications. The updated model aligns with the company’s commitment to delivering cutting-edge, high-performance cranes to global construction and industrial sectors.

Key Market Players

• XCMG Group
• Liebherr Group
• Tadano Ltd.
• Terex Corporation
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• Kobelco Construction Machinery Co., Ltd.
• Manitowoc Cranes
• Sany Group
• Palfinger AG
• Fassi Gru S.p.A.

Report Scope:

In this report, the Global Truck Mounted Crane Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• Truck Mounted Crane Market, By Type:

o   Knuckle Boom Cranes

o   Telescopic Boom Cranes

o   Stiff Boom Cranes

o   Hydraulic Cranes

• Truck Mounted Crane Market, By Capacity:

o   Below 10 Tons

o   10–20 Tons

o   20–50 Tons

o   above 50 Tons

• Truck Mounted Crane Market, By End-User Industry:

o   Construction

o   Oil & Gas

o   Mining

o   Logistics & Transportation

o   Utility & Maintenance

o   Others

• Truck Mounted Crane Market, By Region:

o   North America

§  United States

§  Canada

§  Mexico

o   Europe

§  Germany

§  France

§  United Kingdom

§  Italy

§  Spain

o   South America

§  Brazil

§  Argentina

§  Colombia

o   Asia-Pacific

§  China

§  India

§  Japan

§  South Korea

§  Australia

o   Middle East & Africa

§  Saudi Arabia

§  UAE

§  South Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Truck Mounted Crane Market.

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Company Information

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