Global Market Insights add Truck Mounted Crane Market research report provides the newest industry data and industry future trends, allowing you to identify the products and end users driving Revenue growth and profitability.
Truck Loader Crane Market is expected to exceed USD 2.5 billion by 2025. The rapid evolution of energy, construction, and telecommunication sectors across the globe is supporting the high consumption of loader cranes. The demand is attributed to efficient machine features and technical innovations such as remote controllability, operation handling through mobiles, etc. Several machine manufacturers are developing heavy lifting products with reduced structural dimensions and increased elasticity of the operational radii. These product innovations and the provision of heavy application-specific machines are compelling end users to deploy them as compared to conventional lifting methods, further driving truck loader crane market growth.
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In the truck mounted crane market, energy sector applications are growing due to the utilization in loading & transporting heavy materials from one place to another. These cranes are used to install & assemble large windmills in wind energy-generation plants and aid workers to carry extremely heavy loads without much human intervention. Due to highly risky work operations and the need for worker safety, these cranes are deployed in performing weightlifting operations.
Big-duty cranes are gaining steady growth in the truck mounted crane market owing to the usage in high weight lifting & handling operations in construction, mining, and energy applications. These machines are mainly utilized by construction companies for loading & unloading of heavy construction materials, transportation of light machines, etc.
Moreover, the technical developments, low energy consumption, and less carbon emission features in newly developed machines account for the deployment in energy-generation applications, which aid companies in reducing the overall pollution levels, driving the truck mounted crane market.
The Brazilian construction industry has faced a slowdown in the past after the economic recession and deteriorated business environment. The industry witnessed weaker infrastructure investments & reduced construction activities. However, the industry is now in its recovery phase and is expecting several construction projects along with FDIs.
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Several loader crane manufacturers including Hiab, Tadano, etc., are expanding their presence in Brazil by acquiring local players and establishing crane manufacturing units. Brazilian customers are steadily utilizing construction machinery and cranes owing to high product prices and price-consciousness in the region. These factors along with improved economic conditions in Brazil are the major drivers for truck loader crane market growth.
Prominent players operating in the truck mounted crane market include Tadano Ltd., Fassi, Liebherr Group, Hiab, Manitex, Inc., Palfinger AG, Hyva Group, Sany Group, Terex Corporation, etc. The leading companies focus on developing more application-specific models that have increased lifting capacities and lower weight specifications. Major manufacturers are expanding business operations to other regions for capturing significant market shares and gaining a competitive edge.