Crane Trucks Market Size

Crane Trucks Market Size

Crane Trucks Market was valued at USD 3.8 billion in 2023 and is estimated to register a CAGR of over 6.5% between 2024 and 2032. The rise in construction and infrastructure development is driving business growth. Crane trucks are ideal for lifting, transporting, and precisely putting construction material on the building site. In contrast to bigger fixed cranes, their agility allows them to work in narrow places and at high heights. This efficiency translates into shorter construction timeframes and lower labor costs, making crane trucks an essential tool for builders.

To get key market trends

  Download Free Sample

The expansion of the logistics & transportation industry is fueling the adoption of crane trucks. E-commerce and the overall increase in goods mobility necessitate larger & more efficient warehouses. These warehouses employ crane trucks for a variety of functions. Crane trucks lift and load huge cargo containers onto vehicles and railroads for transportation. Their mobility allows them to work in warehouses and on loading docks. Crane trucks are used in warehouses to position and transport heavy gear, such as conveyor belts, packing equipment, and industrial generators, owing to their high lifting capacity.
 

Logistics frequently involves heavy or irregularly shaped items, such as wind turbine components, massive construction equipment, or steel beams. Crane trucks offer the required lifting power and mobility for such activities. Furthermore, goods often moved between trucks, railroads, and ships. Crane trucks shift containers and large freight between these modes of transportation at terminals and ports.
 

The high initial cost & maintenance pose a major challenge to the market, potentially slowing down its growth. The high cost of purchasing a crane truck can be a substantial barrier to new enterprises entering into the industry. Smaller businesses or startups may struggle to make the first investment, restricting competition and innovation. Even established businesses may be cautious about expanding their crane truck fleet owing to the financial strain. This might decrease the overall market growth.
 

Companies with limited budgets may be tempted to extend the lifespan of their current crane trucks beyond the recommended maintenance intervals. This can result in safety concerns, failures, and potential downtime. Crane trucks often depreciate at a slower pace owing to their high original cost. While secondhand vehicles are more economical, their availability may be restricted.