The global truck mounted crane market is expected to reach

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Portland, OR, October 25, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the truck crane market was estimated at $ 10.81 billion in 2020 and is expected to reach $ 19.40 billion by 2030, registering a CAGR of 5.7% from 2021 to 2030. The report provides an in-depth analysis of the major pockets of investment, top winning strategies, drivers and opportunities, market size and estimates, competitive scenario and varying market trends.

The easy accessibility and mobility offered by truck mounted cranes and the increasing attention to public-private partnerships (PPP) for infrastructure development are driving the growth of the global truck mounted cranes market. On the other hand, some weight limitations restrict growth to some extent. However, the automation of truck mounted cranes is expected to create lucrative opportunities in the industry.

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COVID-19 scenario-

  • Lockdown measures across the world have caused a delay in the manufacture and production of truck cranes used in the construction of commercial and residential buildings, which has negatively impacted the market.
  • Nevertheless, as the global situation improves, the market for assembled trucks is expected to pick up soon.

The global Truck Mounted Crane market is analyzed on the basis of product type, terrain type, company, end-user industry, and region.

Get a detailed analysis of the impact of COVID-19 on the Truck Mounted Crane Market Ask here

By product type, the articulated boom segment held the highest market share in 2020, holding nearly three-fifths of the global market. The same segment is also expected to post the fastest CAGR of 6.0% from 2021 to 2030.

By terrain type, offroad segment contributed the bulk in 2020, accounting for nearly half of the global truck mounted crane market, and is expected to lead the way during the forecast period. Simultaneously, the road segment is expected to cite the fastest CAGR of 6.7% from 2021 to 2030.

By region, Asia-Pacific held the highest market share in terms of 2020 revenue, accounting for over two-thirds of the global truck crane market. The same region is also expected to exhibit the fastest CAGR of 6.1% throughout the forecast period. Other provinces discussed in the report include North America, Europe, and LAMEA.

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Best leading players:

Leading market players analyzed in the Global Truck Mounted Cranes Market report include Furukawa Unic Corporation, HYVA, Kobelco Construction Machinery Co., Ltd., Terex Corporation, Kawasaki Heavy Industries, Ltd., Action Construction Equipment (ACE) Ltd., Liebherr- International AG, KLUBB, Palfinger AG and Sany Group. These market players have adhered to several strategies including partnership, expansion, collaboration, joint ventures and others to prove their flair in the industry.

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About Allied Market Research:

Allied Market Research (AMR) is a full-service market research and business consulting division of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of “market research reports” and “business intelligence solutions”. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.

We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecast. Pawan Kumar, CEO of Allied Market Research is essential in inspiring and encouraging everyone associated with the business to maintain high quality data and to help customers in every way possible to be successful. Each of the data presented in the reports we publish is extracted through primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.

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