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    Truck Loader Crane Market Growth Analysis

    Truck Loader Crane Market Growth Analysis
    Report code - SR2255 Delivery - 2 Weeks
    Truck Loader Crane Market Size, Share, Trend, Forecast, Competitive Analysis, and Growth O See more...

    Market Insights

    The Truck Loader Crane Market is expected to grow from USD 1.46 billion in 2022 to USD 2.3 billion by 2028 at a CAGR of 7.66% during the forecast period.

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    The truck loader crane market is being propelled by the constantly expanding oil and gas industry. The truck loader cranes' sturdy construction allows them to be employed in heavy-duty applications, ensuring efficient and reliable vertical transportation for offshore installations. These cranes are used in the oil extraction business to transport liquid containers safely and securely.

    The inappropriate use of equipment is one of the primary market factors limiting market growth. Due to a lack of focus on the safety and effectiveness of truck loader cranes, incorrect loading and unloading operations at construction sites occur. Reduced workplace accidents will result from the implementation of suitable government rules for working with heavy materials, as well as other progressive actions to raise awareness of crane operation, such as training personnel on proper usage.

    The need for truck loader cranes is expected to be fuelled by new and ongoing huge building projects around the world. Several countries, including the United States, the United Kingdom, Germany, China, and India, are investing heavily in infrastructure development projects, such as railway tunnels, commercial and residential buildings, airports, and port expansion. These machines are used to load and unload heavy goods from the truck's deck at construction sites.

    Covid-19 Impact

    The COVID-19 pandemic had a significant impact on the truck loader crane market. The number of projects in the construction industry decreased significantly all over the world. Several countries declared lockdowns, resulting in supply chain disruptions, plant shutdowns, changes in market demand, a decrease in production, and the halt of various projects and other activities.

    Segments Analysis

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    The market is segmented into the following categories-

    By Product Type

    • Small-duty [Up to 6 Metric Tons] 
    • Medium-duty [7 to 20 Metric Tons] 
    • Big-duty [21 to 80 Metric Tons] 
    • Heavy-duty [Above 80 metric tons] 

    By Type

    • Knuckle Boom 
    • Stiff Boom 

    By Sales Type

    • New Sales 
    • Aftermarket 

    By End-Use Type

    • Rental 
    • Construction 
    • Mining 
    • Oil & Gas 
    • Energy 
    • Forestry 
    • Logistics 

    By Region

    • North America 
    • Europe 
    • Asia-Pacific 
    • Rest of the World 

    By Product Type

    The market is bifurcated into Small-duty [Up to 6 Metric Tons], Medium-duty [7 to 20 Metric Tons], Big-duty [21 to 80 Metric Tons], and Heavy-duty [Above 80 metric tons]. Medium-duty is likely to remain the most utilized product type in the foreseen future because of its load-lifting capabilities and performance in both small and medium-scale operations. Medium-duty cranes are utilized at transportation sites, warehouses, and workshops where loads under 20 tons must be handled. The growing demand for medium-duty cranes can be ascribed to a number of factors, including their ease of installation and operation compared to traditional crane equipment, as well as the ability to substitute workers in load-lifting activities. In response to the increased demand for medium-duty loader cranes across a variety of industrial applications, market competitors are offering novel and sophisticated medium-duty loader cranes.

    By Type

    The market is segmented into Knuckle Boom and Stiff Boom. The knuckle boom segment is expected to remain the most preferred type during the forecast period due to the growing demand for load-lifting equipment that is adaptable. The foldable arm of a knuckle boom loader crane makes it suitable for lifting items in unusual and confined spaces. These cranes can move the entire boom structure in and out and fold into a compact size while loading and unloading items or moving onto a tiny building site using two booms, i.e., outer boom and main boom joined by a knuckle, which is supporting the market trend.

    By Sales Type

    The market is segmented into New Sales and Aftermarket. New Sales are likely to dominate the segment. Companies are developing new loader crane types that are tailored to a certain application. For example, HIAB developed a loader crane for the garbage and recycling business, where municipalities and local governments must properly manage the collection and scraping of waste items.

    By End-Use Type

    The market is segmented into Rental, Construction, Mining, Oil & Gas, Energy, Forestry, and Logistics. The rental industry is likely to dominate the market during the forecast period. Rental services allow customers to rent equipment for a set amount of time without having to buy a new machine. Additionally, rental services reduce the need for equipment maintenance and service. Furthermore, the availability of customizable truck loader crane rental plans tailored to the needs of customers is likely to boost the market revenue.

    Regional Analysis

    Europe is expected to remain the largest market for truck loader cranes over the forecast period fuelled by the significantly expanding building and development activities, as well as the widespread presence of established industry players. The UK government, for example, launched the Building 2025 strategy to ensure long-term growth in the construction, architecture, and design industries. The government will make significant investments in the housing, transportation, energy, digital infrastructure, water, and commercial property sectors as part of this approach.

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    Key Players

    To obtain a solid presence in the market, industry players are employing a variety of techniques such as production capacity growth, mergers and acquisitions, and new product development. The following are some of the key players in the truck loader crane market:

    • Amco Veba
    • EFFER S.R.L.
    • F.lli Ferrari
    • Fassi Gru S.p.A.
    • Hiab, Tadano Ltd.
    • Hyva Crane
    • Palfinger AG
    • PM OIL & STEEL S.P.A.

    Research Methodology

    This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s truck loader crane market realities and future market possibilities for the forecast period of 2023 to 2028. The report segments and analyzes the market in the most detailed manner in order to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for the market participants as well as investors in the identification of the low-hanging fruits available in the market as well as to formulate the growth strategies to expedite their growth Type.

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles, have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

    What Deliverables Will You Get in this Report?

    Key questions this report answers

    Relevant contents in the report

    How big is the sales opportunity?

    In-depth Analysis of the Truck Loader Crane Market

    How lucrative is the future?

    Market forecast and trend data and emerging trends

    Which regions offer the best sales opportunities?

    Global, regional, and country-level historical data and forecasts

    Which are the most attractive market segments?

    Market segment analysis and Forecast

    Which are the top players and their market positioning?

    Competitive landscape analysis, Market share analysis

    How complex is the business environment?

    Porter’s five forces analysis, PEST analysis, Life cycle analysis

    What are the factors affecting the market?

    Drivers & challenges

    Will I get the information on my specific requirement?

    10% free customization

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to three players)
    • SWOT analysis of key players (up to three players)

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across the sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com

    Frequently Asked Questions (FAQ)

    The truck loader crane market is estimated to grow at a healthy CAGR of 7.66% over the next five years.

    Amco Veba, EFFER S.R.L., F.lli Ferrari, Fassi Gru S.p.A., Hiab, Tadano Ltd., Hyva Crane, Palfinger AG, and PM OIL & STEEL S.P.A. are some of the key players in the market.

    Europe is estimated to be dominant in the truck loader crane market in the coming years. Significantly expanding building and development activities, as well as the widespread presence of established industry players, are expected to drive the regional market growth.

    The truck loader crane market is being propelled by the constantly expanding oil and gas industry. The truck loader cranes' sturdy construction allows them to be employed in heavy-duty applications, ensuring efficient and reliable vertical transportation for offshore installations. These cranes are used in the oil extraction business to transport liquid containers safely and securely.

    New Sales is likely to dominate the segment. Companies are developing new loader crane types that are tailored to a certain application.

    The truck loader crane market is likely to reach USD 2.3 billion in 2028.

    The market is studied from 2017-2023.