The global truck mounted crane market was valued at USD 9,820 million in 2025, and it is projected to reach USD 18,750 million by 2035, growing at a CAGR of 6.2% from 2024 to 2035. This industry is driven by the increasing need for flexible and mobile lifting machinery in construction, logistics, and energy sectors worldwide.
The economic impact of tariffs on "Global Truck Mounted Crane".
Global Truck Mounted Crane Market Growth Drivers
Growing Infrastructure Development: Rapid urbanization and large-scale infrastructure development in emerging economies such as India and China are driving demand for heavy lifting equipment. For example, SANY Heavy Industry has recently expanded its truck mounted crane operations in Southeast Asia to cater to the increasing number of urban construction projects. These cranes offer high mobility and quick set-up, making them ideal for dynamic construction environments.
Expansion of Renewable Energy Projects: The rising investments in renewable energy, particularly wind and solar farms, require specialized lifting equipment for installation and maintenance. Tadano Ltd. has experienced significant order growth for its truck mounted cranes, which are used to transport and assemble wind turbine components efficiently in remote locations. Their adaptability to rough terrains and ease of deployment make them critical assets for renewable energy infrastructure.
Global Truck Mounted Crane Market Trends
Integration of Advanced Telematics: Companies like Liebherr are integrating telematics and IoT-enabled systems into their truck mounted cranes, allowing for real-time monitoring, predictive maintenance, and fleet optimization. This trend is transforming asset management by minimizing downtime and optimizing operational costs for fleet owners.
Shift Towards Electric and Hybrid Cranes: With increasing emphasis on sustainability, manufacturers such as Manitowoc are investing in the development of electric and hybrid-powered truck mounted cranes. These machines reduce fuel consumption and emissions, catering to stricter environmental standards and aligning with the green construction movement.
Global Truck Mounted Crane Market Opportunity
Emergence of Smart City Projects: The global push towards smart city infrastructure offers vast opportunities for truck mounted crane manufacturers to provide customized, high-tech solutions. Companies like Palfinger are leveraging this opportunity by introducing cranes with enhanced safety, automation, and integration capabilities for complex urban environments.
Expansion in Latin America: Rapid industrialization and mining expansion in regions such as Brazil and Chile present untapped market potential. Konecranes has reported increased inquiries and sales initiatives targeting these emerging regions, where demand for mobile cranes is rising in support of large infrastructure and mining projects.
Global Truck Mounted Crane Market Revenue (USD Million), 2020-2035
The chart demonstrates a steady growth trajectory for the global truck mounted crane market from 2020 to 2035. Starting at USD 6,850 million in 2020, the market shows consistent growth, reaching USD 9,820 million by 2025, and projected to rise further to USD 18,750 million by 2035. This upward trend is fueled by expanding infrastructure investments globally and increased application in energy sectors. The growth remains robust throughout the forecast period, highlighting key opportunities for innovation, especially in telematics and sustainable solutions. By the end of 2035, the nearly twofold increase from 2025 values underscores the market’s resilience and adaptability.
Global Truck Mounted Crane Market by Regions Share (%), 2025
The pie chart for 2025 illustrates Asia Pacific holding the largest market share at 45%, owing to extensive infrastructure development and urbanization. North America follows at 22%, underpinned by large-scale construction and utility projects. Europe holds a 17% share, supported by ongoing investments in modernization and renewable energy. The Middle East & Africa account for 10%, with growth driven by oil & gas projects. Latin America occupies 6%, where the market is emerging due to mining and industrial expansion. The regional distribution shows market dominance by Asia Pacific, reflecting the high demand for mobility and versatile heavy-lifting equipment.
Global Truck Mounted Crane Recent Developments
In March 2024, Manitowoc introduced its new GMK5250XL-5, a truck mounted crane that features enhanced lifting capacity and advanced telematics for real-time diagnostics. Manitowoc’s innovation was motivated by increased demand for smarter cranes and was quickly adopted by major rental fleets in Europe and Asia.
In May 2024, Liebherr presented an eco-friendly hybrid truck mounted crane at the INTERMAT exhibition in Paris, integrating battery-electric propulsion and regenerative braking. This aligns with its effort toward sustainable urban construction, addressing new European emissions standards.
In April 2024, Palfinger announced a strategic partnership with a major telematics provider to enhance remote monitoring and predictive maintenance for its truck mounted crane fleet. The collaboration aims to reduce operational downtime and improve fleet lifecycle management for customers.
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