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Telescopic Crane Market Share

Report ID: GMI9417
Published Date: May 2024
Report Format: PDF

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Telescopic Crane Market Share

Liebherr, Manitowoc, and Terex held significant market share of over 50% market share in 2023. These major players focus on innovation in crane technology, such as incorporating automation, digitalization, and safety features into their jib crane offerings. Liebherr's strategy focuses on innovation, offering advanced telescopic cranes with enhanced load capacities and reach. Moreover, Liebherr's strategy in the telescopic crane market involves investing in unique chassis designs featuring specialized axle arrangements and optimized axle loads, enhancing stability and maneuverability for improved crane performance.

Terex Corporation emphasizes cost-effective solutions and a diverse product lineup to cater to various construction segments. Also, Terex Corporation aims to expand its presence in the telescopic crane business by introducing the Franna brand of mobile pick and carry cranes in India, targeting increased market share and regional growth. Both companies leverage their global presence and strive to expand their market share through strategic acquisitions and partnerships.

Telescopic Crane Market Companies

Major players operating in the telescopic crane industry are:

Furukawa UNIC Corporation
Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
Kobelco Construction Machinery Co., Ltd.
Liebherr-International AG
Manitex International, Inc.
Sany Group Co., Ltd.
Tadano Ltd.
Terex Corporation
The Manitowoc Company, Inc.
Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
Zoomlion Heavy Industry Science and Technology Co., Ltd.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of telescopic crane was reached USD 5.8 billion in 2023 and is estimated to register over 5.5% CAGR between 2024 and 2032, propelled by increasing construction and infrastructure development activities worldwide.

The truck-mounted segment in the telescopic cranes market surpassed USD 1.8 billion in 2023, driven by their superior performance, increased versatility, and enhanced efficiency for catering to a wide range of industry needs.

Asia Pacific telescopic crane market held over 35% revenue share in 2023, favored by rapid urbanization and industrial expansion.

Furukawa UNIC Corporation, Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd., Kobelco Construction Machinery Co., Ltd., Liebherr-International AG, Manitex International, Inc., Sany Group Co., Ltd., Tadano Ltd., Terex Corporation and The Manitowoc Company, Inc.