The Truck Mounted Cranes Market is projected to grow from USD 2,751.1 million in 2025 to USD 4,243.6 million by 2035, registering a CAGR of 4.4% during the forecast period. The growth is fueled by increasing infrastructure development, urbanization, and the rising demand for efficient lifting solutions across industries such as construction, logistics, mining, and utilities.
Truck mounted cranes are light, versatile, and easy to set up with mobility, for which they find extensive application in material handling and equipment installation works, especially for construction projects. Hydraulic systems coupled with advanced control technologies and efficient fuel engines ensure better operational performance of these truck mounted cranes.
The trend toward sustainable construction practices, along with the demand for electric and hybrid drive systems, is expected to create new growth opportunities in the truck mounted cranes market.
| Metric | Value |
|---|---|
| Market Size (2025E) | USD 2,751.1 million |
| Market Value (2035F) | USD 4,243.6 million |
| CAGR (2025 to 2035) | 4.4% |
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Between 2020 and 2024, the Truck Mounted Cranes Market grew steadily, with a CAGR of 3.9%, driven by robust demand from the construction sector, logistics industry, and energy infrastructure projects. The increasing focus on urban redevelopment, smart cities, and transportation infrastructure contributed greatly to the growth of the market.
Electric truck mounted cranes will energize the market with accelerated growth through adoption, hydraulic technology advancement, and integration with IoT-based telematics for real-time monitoring in the period of 2025 to 2035. Fuel efficiency, safety, and automation would advance the truck mounted crane market further in the coming time.
The table below offers a detailed comparative assessment of the changes in the compound annual growth rate (CAGR) over six months for the base year (2023) and the current year (2024) specifically for the Truck Mounted Cranes Market. This semi-annual analysis highlights crucial shifts in market dynamics and outlines revenue realization patterns, providing stakeholders with a more precise understanding of the growth trajectory within the year. The first half of the year, H1, covers January to June, while the second half, H2, spans July to December.
| Particular | Value CAGR |
|---|---|
| H1 | 4.2% (2024 to 2034) |
| H2 | 4.4% (2024 to 2034) |
| H1 | 4.3% (2025 to 2035) |
| H2 | 4.5% (2025 to 2035) |
H1 signifies period from January to June, H2 Signifies period from July to December
For the Truck Mounted Cranes Market, the micro CHP sector is predicted to grow at a CAGR of 4.2% during the first half of 2024, with an increase to 4.4% in the second half of the same year. In 2025, the growth rate is anticipated to slightly decrease to 4.3% in H1 but is expected to rise to 4.5% in H2. This pattern reveals a decrease of 10 basis points from the first half of 2024 to the first half of 2025, followed by an increase of 1 basis points in the second half of 2025 compared to the second half of 2024.
These figures illustrate the dynamic and evolving nature of the Truck Mounted Cranes Market, impacted by various factors. This semi-annual breakdown is critical for businesses planning their strategies to capitalize on the anticipated growth and navigate the complexities of the market.
Growing Demand for Versatile Lifting Solutions in Construction
Truck-mounted cranes are one of the most in-demand varieties because of the boom in global construction, particularly in urban infrastructure, residential buildings, and commercial spaces. Their advantage is quick setup, easy transportation, and high lifting capacity, which makes a truck-mounted crane an inevitable piece of equipment for material handling and placing heavy machinery on construction sites. Indeed, it is perfect for the fast-pace nature of modern construction projects.
Truck-mounted cranes have the advantage of affordability, flexibility in use, and minimal down times during their actual operation. Like traditional cranes, truck-mounted cranes need not undergo extensive setup and place locations. For this reason, truck-mounted cranes can work on all other types of sites with considerable speed. This type of crane allows it to take up jobs be it the thick urban area or large constructional projects with quite ease.
Additionally, the rise in modular construction and the increasing use of prefabricated building components is further fueling the demand for truck-mounted cranes. These are strong enough to handle the high loads involved in prefabricated structures, thus making them critical for projects where rapid and efficient lifting solutions are required. With the complexity of construction projects growing, the demand for versatile and powerful equipment such as truck-mounted cranes will continue to increase.
Technological Advancements in Hydraulic and Control Systems
The Truck Mounted Cranes Market is significantly evolving mainly due to the introduction of advanced hydraulic systems and smart control technologies. Manufacturers are placing a high demand on it to improve the performance of these cranes, mostly in terms of increasing lifting capacity, improving precision, and boosting fuel efficiency. The hydraulic mechanisms now make higher lifting possible, while advanced load management systems make heavier loads more predictable and increase the efficiency of the cranes on construction sites.
Modern truck-mounted cranes are equipped with sophisticated technologies, such as telemetry, GPS tracking, and real-time monitoring. Such new technologies will facilitate the management of crane activity and track any crane moving operation, ensuring safe performance on the part of the operator to avoid probable risks. GPS tracking monitors the crane location and real-time data access helps operators adjust the crane according to its present requirements by better optimizing the performance.
Hence, semi-automated and completely automated cranes are new systems that have changed the face of the crane industry. As a consequence, the use of manual intervention has significantly been reduced; it increases not only operational efficiency but also reduces the chances of a human error. Truck-mounted cranes are becoming the ultimate working tool in any construction project for improving productivity and safety. The increasing demand for advanced cranes will also increase with the growth of these advanced technologies.
Rising Adoption of Electric and Hybrid Drive Cranes
In the wake of sustainability becoming the prime concern in the construction industry, electric and hybrid truck mounted cranes are gaining ground in highly accelerated speed. The advantages include cheaper operating cost, reduced noise pollution, and a smaller environmental footprint.
They make them ideal for urban construction sites and indoor applications where traditional diesel-powered cranes may not be very practical. The shift towards these eco-friendly solutions aligns with global efforts to reduce carbon emissions and meet stricter environmental regulations.
This has made manufacturers increase investments in battery-powered cranes and hybrid models combining diesel engines with electric drives. Hybrid cranes are thus engineered to be very fuel efficient so that as much fossil fuel use is cut while still retaining enough power to handle heavy lifts. This helps not only cut down carbon footprints but also cut down operational costs since electric systems can prove to be energy-friendly compared to a traditional diesel engine.
The increasing infrastructure of fast charging and continuous technological development in battery technology will accelerate the adoption of electric truck-mounted cranes further. As technology advances, such cranes will be even more efficient and cost-effective in a variety of applications. Increasingly, it is likely to be electric and hybrid truck-mounted cranes that lead the construction industry toward greener and more sustainable ways of working.
Growing Infrastructure Investments in Emerging Economies
Emerging economies in Asia-Pacific, Latin American, and Africa are still recording tremendous growth in the development of road, bridge, port, and energy infrastructure projects. Investments in transport networks, renewable energy projects, and industrial constructions continue to mushroom, leading to ever-increasing needs for high-performance truck-mounted cranes. With more countries modernizing their infrastructures, there is a rising demand for versatile and reliable lifting equipment.
The government, through initiatives in smart city development programs, public-private partnerships, and foreign direct investments (FDI) in infrastructure, offers many opportunities to crane manufacturers. These initiatives increase the speed at which construction projects are executed in urban and industrial sectors, especially truck-mounted cranes, with their efficiency and mobility.
With rising urbanization and industrialization in these regions, the demand for compact, multi-functional cranes that can work in tight spaces and challenging terrains is expected to rise. These cranes are best suited for the various construction environments that exist in rapidly developing urban areas, where space constraints and difficult ground conditions are common. The adoption of truck-mounted cranes in the above emerging markets indicates the need to increase advanced lifting equipment for such large-scale infrastructural development and modernization initiatives.
The global Truck Mounted Cranes Market is moderately fragmented, with a mix of established multinational corporations and regional players competing for market share. Larger companies dominate the market with their extensive product portfolios, advanced manufacturing capabilities, and strong global distribution networks. However, regional and niche players contribute significantly by catering to local markets with cost-effective solutions.
Tier 1 companies include industry leaders with annual revenues exceeding USD 120 million. These companies are currently capturing a significant share of 20% to 25%. These frontrunners are characterized by high production capacity and a wide product portfolio. They are distinguished by extensive expertise in manufacturing and a broad geographical reach, underpinned by a robust consumer base. The firms provide a wide range of products and utilize the latest technology to meet regulatory standards. Prominent companies within this tier I Terex Corporation, Palfinger AG, Cargotec Corporation (Hiab)
Tier 2 companies encompass most of the small-scale enterprises operating within the regional sphere and catering to specialized needs with revenues between USD 65-120 million. These businesses are notably focused on meeting local demand and are hence categorized within the Tier 2 segment.
They are small-scale participants with limited geographical presence. In this context, Tier 2 is acknowledged as an informal sector, indicating a segment distinguished by a lack of extensive organization and formal structure in comparison to the structured one. Tier II Players such as the Liebherr Group, Manitex International, Inc and others have been considered in this tier where they are projected to account for 45-50% of the overall market.
Tier 3 includes the majority of small-scale companies operating at the local presence and serving niche having revenue below USD 65 million. These companies are notably oriented towards fulfilling local demands and are consequently classified within the tier 3 share segment. They are small-scale players and have limited geographical reach. The manufacturers such as adano Ltd., Zoomlion Heavy Industry Science & Technology Co., Ltd. and others are expected to hold 30-35% of the share.
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| Countries | CAGR (2025 to 2035) |
|---|---|
| United States | 4.2% |
| Germany | 4.0% |
| Japan | 4.6% |
| United Kingdom | 4.8% |
| ASEAN | 3.9% |
The United States is the largest market for truck-mounted cranes. Huge investments are being poured in infrastructural upgradation programs, which include road, bridge, and energy-related infrastructure building. The overall execution of the Bipartisan Infrastructure Law and other initiatives of the government to enhance the infrastructures of the nation has greatly increased demand for heavy-duty lifting equipment. Advanced and reliable cranes are needed to fulfill the increasing demands of construction, repair, and energy sectors in these projects.
This is making USA manufacturers to increase their technologies when manufacturing cranes. Advanced hydraulic cranes boast greater lifting ability and accuracy compared to other existing cranes in the market; automated lifting cranes ensure work efficiency with zero human errors while eco-friendly electric cranes cater to strict environment regulations, more so, set to increase gradually. Such innovative cranes benefit companies to embrace safety requirements; reduce operating cost; and align with environmental impacts.
The USA is likely to continue its efforts to improve its infrastructure, both through public-private partnerships and government-backed programs, which will further drive the truck-mounted crane market. Adoption of automation and green solutions is also expected to propel the market further, making the USA one of the leading regions for truck-mounted crane applications in construction and infrastructure development projects.
Germany is also a promising emerging market for the sustainable construction equipment industry, particularly with strict environmental regulations and huge pushes toward the development of green infrastructure. This country is on a path toward reducing carbon emissions and increasing energy efficiency, further promoting the usage of environmentally friendly construction machinery like electric and hybrid-powered truck-mounted cranes.
Large public infrastructure projects in rail network development, bridge rehabilitation, and urban redevelopment are stimulating demand for more advanced lifting solutions that align with Germany's sustainability objectives
The Climate Action Plan 2050 and the National Hydrogen Strategy have been driving the construction sector by promoting low-emission machinery. This is leading manufacturers to come up with electric or hydrogen fuel cell cranes, which reduces the use of diesel-powered cranes. Further, digitalization and automation have become a significant part of crane operations, where efficiency and safety are improved through remote monitoring, intelligent load management, and predictive maintenance systems.
This is because, with a growing commitment towards the principles of the circular economy and resource efficiency and sustainable construction, Germany also offers a lot in terms of its demand for high-precision and energy-efficient cranes. Trucks mounted on cranes play an important role as investments increase into renewable energy projects, like green hydrogen production facilities and offshore wind farms. This development is expected to further boost the market for high-tech, environment-friendly lifting equipment as the country continues its journey toward climate-neutral construction, strengthening Germany's leadership in sustainable industrial solutions.
Japan is seeing increased demand for technologically advanced and eco-friendly construction equipment, including truck-mounted cranes, with rapid urban redevelopment, infrastructure upgrade, and disaster resilience projects driving the market.
Being an earthquake-prone nation, Japan has always been focusing on constructing and maintaining resilient infrastructure, requiring highly precise and efficient lifting solutions. Key government-backed initiatives such as the National Resilience Program and Smart City Development Plans are fueling investments in next-generation construction technologies.
Hybrid and all-electric truck-mounted cranes emerge as the key trends toward meeting Japan's goal to achieve carbon neutrality by 2050. Although stricter emission regulations, along with incentives for low-carbon construction equipment, are pushing the industry toward battery-electric and hydrogen-powered cranes, they have more positive results on environmental efficiency and operational efficiency.
In addition, the advanced robotics and automation capabilities of Japan are also driving the adoption of AI-powered crane systems with autonomous operation, remote control, and predictive maintenance technologies. Such innovations improve productivity, reduce downtime, and ensure safety on construction sites.
The high-density urban development and high-speed rail expansion in Japan also shape the demand for compact, high-precision lifting equipment capable of operating in space-constrained environments. As infrastructure modernization and renewable energy projects such as offshore wind farms and hydrogen refueling stations keep gaining traction, the need for intelligent and sustainable crane solutions would increase further. With further steps in the ongoing process of automation, electrification, and the integration of artificial intelligence, Japan is to lead the next generations of construction equipment in the market.
| By Product | Market Share 2024 |
|---|---|
| Stiff Boom Cranes | 60% |
For stiff boom cranes, their market share is about 60% in the truck-mounted cranes market. They are considered for their heavy-duty design, high lifting capacity, and easy operation; therefore, they are versatile in many applications in construction, mining, and manufacturing. With heavy-duty operation with precision and reliability, their appeal to large projects has made them a preferred option for them.
Heavy-duty applications in material handling, pipeline installation, and machinery placement generally employ stiff boom cranes. These can be mounted at substantial heights, which makes them very handy for construction sites, industrial plants, and off-road environments. Stiff boom cranes are often one of the most effective solutions for lifting and shifting plant and equipment, especially in confined space or particularly demanding terrain.
The other major advantage of stiff boom cranes is that they require minimal maintenance and are cost-effective. Their basic hydraulic systems enable them to work efficiently with low chances of failure, which can easily be fixed and result in minimum downtime.
They are preferred both for on-road urban construction works, which requires efficiency in operation and minimizing the cost involved, and for off-road projects, where performance and durability against rough conditions matter. This explains why stiff boom cranes continue to lead truck-mounted cranes in the majority of industries.
| By Drive | Market Share 2024 |
|---|---|
| Hydraulic Drive Systems | 50% |
Hydraulic drive systems remain the largest portion of the truck-mounted cranes market due to their high power for lifting and accurate load control with excellent versatility. Such truck-mounted cranes are valued mainly for smooth operations, thus ideally suited for varied demanding applications across industries like construction, logistics, and manufacturing.
Hydraulic cranes are great for lifting heavy loads with ease and accuracy, making them ideal for use on construction sites, in industrial facilities, and at logistics hubs where high efficiency and reliable performance are critical.
The increasing demand for compact hydraulic cranes with advanced controls has also further fueled this growth segment. Load moment indicators, which monitor crane stability, and other remote monitoring systems that enable real-time performance tracking are becoming increasingly common. This allows for improved operational safety, less downtime, and overall better performance, making hydraulic cranes even more attractive to industries requiring precision lifting in confined areas.
Another point is that hydraulic systems are relatively durable and efficient in terms of energy, resulting in lower running costs over a period of time. The reliability of their structure reduces the likelihood of maintenance and repair work. These features assure that hydraulic drive systems will maintain their market dominance in truck-mounted cranes for a long period.
The Truck Mounted Cranes Market is moderately competitive, with key players focusing on product innovation, sustainability, and global market expansion. Companies are investing in R&D to develop electric-powered cranes, smart automation systems, and advanced hydraulic technologies.
Recent Developments:
The overall market size for Truck Mounted Cranes Market was USD 2,751.1 million in 2025.
The Truck Mounted Cranes Market is expected to reach USD 4,243.6 million in 2035.
Rising infrastructure projects and construction activities drives growth in the truck mounted cranes market during the forecast period.
The top 5 countries which drives the development of Truck Mounted Cranes Market are USA, UK, Germany, Japan and ASEAN.
Stiff Boom Cranes are expected to command significant share over the assessment period.
| Estimated Market Value (2022E) | USD 827.8 million |
|---|---|
| Projected Market Value (2032F) | USD 1,365.0 million |
| Value-based CAGR (2022 to 2032) | 5.1 % |
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