The global truck-mounted cranes market continues to experience steady growth, driven by increasing infrastructure development, industrialization, and the expansion of the construction and logistics sectors worldwide. These versatile cranes, known for their ability to combine the lifting power of traditional cranes with the mobility of trucks, are becoming essential tools across multiple industries—including construction, mining, utilities, and logistics. Their adaptability and mobility make them indispensable for both urban and remote applications, where time efficiency and flexibility are critical. Manufacturers are also focusing on enhancing safety, automation, and energy efficiency to meet the evolving needs of modern work environments, particularly as sustainability and operational efficiency take center stage across industrial operations.
Market Size and Growth
The truck-mounted cranes market was valued at US$ 2.5 billion in 2024 and is projected to reach US$ 4.5 billion by 2035, growing at a compound annual growth rate (CAGR) of 5.5% from 2025 to 2035. This growth is largely attributed to rising global infrastructure investments, urbanization, and technological advancements that make cranes more compact, fuel-efficient, and user-friendly. The demand for mobile lifting equipment that can quickly relocate between job sites is increasing, particularly in the construction, oil gas, and utility sectors. Additionally, governments worldwide are focusing on large-scale infrastructure renewal projects—such as road and bridge rehabilitation—which further fuels the demand for truck-mounted cranes.
Market Segmentation
The market can be segmented based on type, capacity, application, and region.
- By Type: Boom truck cranes, telescopic truck cranes, and lattice boom truck cranes dominate the segment. Telescopic cranes hold a significant market share due to their flexibility and extended reach capabilities, making them ideal for high-rise construction and industrial maintenance.
- By Capacity: Cranes below 50 tons are most commonly used due to their compact size and versatility, while heavy-duty cranes above 150 tons are in demand for large infrastructure and industrial projects.
- By Application: The construction industry remains the largest application segment, followed by logistics, energy, mining, and utilities. Renewable energy projects, particularly wind and solar farm installations, are increasingly contributing to market growth.
- By Region: Market performance varies significantly across regions, with North America, Europe, and Asia Pacific being key contributors.
Regional Analysis
Asia Pacific dominates the global truck-mounted cranes market, driven by rapid industrialization, urban infrastructure development, and the expansion of smart city projects in countries such as China, India, and Japan. The region’s strong construction pipeline and emphasis on infrastructure modernization continue to drive equipment demand. Europe and North America follow closely, supported by upgrades in road networks, bridges, and energy projects.
In North America, the United States and Canada are witnessing a steady increase in construction and maintenance of public infrastructure, while Europe is focusing on modernization and sustainability, with a growing preference for fuel-efficient and hybrid cranes. Meanwhile, Latin America and the Middle East Africa are emerging as promising markets due to the expansion of oil gas exploration and large-scale infrastructure investments.
Competitive Landscape
The global truck-mounted cranes market is moderately consolidated, with several international and regional players competing through innovation, partnerships, and portfolio diversification. Prominent companies operating in the market include SANY GROUP, Terex Corporation, Liebherr-International Deutschland GmbH, Konecranes Oyj, CARGOTEC CORPORATION, Elliott Equipment Company, PALFINGER AG, Tadano Ltd., Hyva Group, and The Manitowoc Company, Inc.
These manufacturers are increasingly focusing on lightweight construction, automation, and improved lifting performance. For instance, leading companies are incorporating digital fleet management systems and advanced telematics to enhance efficiency and reduce downtime. Strategic collaborations, mergers, and acquisitions remain key approaches to expand market reach and strengthen technological expertise.
Future Outlook
Looking ahead to 2035, the truck-mounted cranes market is expected to continue its upward trajectory, underpinned by infrastructure investments, equipment modernization, and sustainable technology adoption. Future cranes will likely feature enhanced energy efficiency, electrified powertrains, and autonomous operation capabilities, aligning with global efforts toward carbon neutrality.
As the construction and logistics industries continue to demand versatile, mobile lifting solutions, truck-mounted cranes will remain indispensable. Manufacturers that emphasize innovation, digital integration, and sustainability will be best positioned to capture emerging opportunities in both developed and developing markets.
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
