Crane Trucks Market Analysis

Crane Trucks Market Analysis

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Based on lifting capacity, the 21 to 50 tons segment accounted for a market share of over 40% in 2023. This range provides an ideal blend of lifting capability and maneuverability. These machines can perform a variety of functions without being too bulky or difficult to carry, making them suitable for work sites. They are suitable for a wide range of construction projects including multi-story buildings, prefabricated structures, and massive beams.

These cranes are also preferred for lifting jobs such as bridge repairs, utility pole replacement, and wind turbine maintenance. They are used for lifting huge machinery, transporting massive equipment throughout companies, and loading & unloading cargo containers. Compared to bigger-capacity cranes, the 21 to 50-ton range is more affordable in terms of original purchase costs and continuing maintenance expenses. This makes them a more attractive alternative for businesses that require a balance between capability and budget.
 

The construction segment of the crane trucks market is expected to reach USD 2.5 billion by 2032. Crane trucks are prevalent on construction sites. They are used in many phases of construction, from lifting & installing prefabricated walls and beams to lowering heavy machinery and HVAC systems. Their adaptability and mobility make them suited for a variety of jobs. Government investments highway and bridge construction are increasing internationally. These projects rely significantly on crane trucks to lift and carry big building materials such as steel beams, concrete slabs, and pylons.
 

The growing demand for urban living and business space is propelling the development of high-rise buildings and complicated constructions. Crane trucks are essential for moving building components, such as panels, glass facades, and pre-cast concrete pieces, to higher levels during construction.
 

Asia Pacific region dominated the 35% share of the crane trucks market in 2023. The region is seeing rapid industrial growth, notably in China, India, and Southeast Asia. This rise in industries including automotive, manufacturing, and construction increases the demand for crane trucks for effective material handling. The region is undergoing rapid urbanization, resulting in the development of tall buildings and complicated constructions. Crane trucks are essential for these projects to move prefabricated pieces, building materials, and gear to higher floors. Furthermore, the expansion of e-commerce and the demand for efficient logistics hubs require larger and more efficient warehouses. Crane trucks play an important role in these facilities, loading & unloading cargo containers and transporting large gear.
 

The construction industry in the U.S. is predicted to continue growing, spurred by factors such as increased housing demand and commercial expansion. This will result in a continuous demand for crane trucks across a variety of building projects. The country is rapidly turning to renewable energy sources such as wind and solar electricity. Crane trucks are used extensively to install and maintain wind turbines and solar panels owing to their size and lifting capabilities. Furthermore, the U.S. government's emphasis on infrastructure improvement through measures, such as the Infrastructure Investment and Jobs Act (IIJA), is a significant driver. Crane trucks will be used extensively in these projects to lift and deliver items.
 

European countries including France, Germany, the UK, and the Netherlands are witnessing significant growth in the crane trucks market. Government expenditure on infrastructure projects, as well as increased urbanization, will propel the demand for crane trucks in building operations across Europe. Growth in e-commerce and total freight transit will require efficient facilities, with crane trucks playing an important part. The UK market is expected to expand faster owing to its emphasis on implementing modern technology in the building industry. Moreover, in Middle Eastern & African (MEA) countries, such as the UAE and Saudi Arabia, the oil & gas industry continues to utilize crane trucks for various tasks such as lifting pipes and equipment.