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Truck Loader Crane Market Size By Product (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 (New Sales, Aftermarket), By End-use (Rental, Construction, Mining, Oil & Gas, Energy, Forestry, Logistics), COVID19 Impact Analysis, Regional Outlook, Application Potential, Price Trend, Competitive Market Share & Forecast, 2021 – 2027

  • Report ID: GMI3099
  • Published Date: May 2021
  • Report Format: PDF

Industry Trends

Truck Loader Crane Market size exceeded USD 1.5 billion in 2020 and is estimated to grow at 8% CAGR from 2021 to 2027. Growing demand for equipment rental services is driving the industry growth.

The upcoming and ongoing large construction projects across the globe are anticipated to fuel the truck loader cranes demand. Several countries, such as the U.S., the UK, Germany, China, and India, are witnessing large investments in infrastructure development projects, which include the construction of railway tunnels, commercial & residential buildings, airports, and port extension. These machines are used at construction sites to load or unload heavy materials from the truck’s deck.

Truck Loader Crane Market

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The rapidly growing oil & gas industry is propelling the truck loader crane market revenue. The rugged design of the truck loader cranes enables them to be used for heavy-duty applications, providing efficient and reliable vertical transportation for offshore installations. These cranes are used in the oil extraction industry for the safe and secure conveying of liquid containers.

One of the major market factors challenging the market growth is the improper usage of the equipment. Lack of importance given to the safety & efficiency of truck loader cranes results in improper loading & unloading operations at the construction sites. The implementation of appropriate government regulations to work with heavy materials along with other progressive steps to increase awareness of the usage of cranes, such as training workers regarding appropriate usage, will help in reducing workplace accidents.

The COVID-19 pandemic has severely impacted the truck loader crane industry statistics. The construction sector observed a significant drop in the number of projects globally. Several countries announced the imposition of lockdown, resulting in supply chain disruptions, shut-down of manufacturing plants, changes in market demand, a decline in production, and halt of various projects & other activities.

Growing demand for convenient load-lifting machines to reduce human efforts

Global Truck Loader Crane Market Size, By Product

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The medium-duty truck loader crane market revenue is anticipated to witness over 9% CAGR through 2027 owing to its load lifting capacity and performance in both small- and medium-range operations. Medium-duty cranes are used in transportation sites, warehouses, and workshops with requirements to handle loads under 20 tons.

The increasing demand for medium-duty cranes is further attributed to their several advantages including installation & operational convenience over traditional crane equipment and the replacement of workers in load lifting operations. Market participants are offering innovative and advanced medium-duty loader cranes in response to the growing demand across several industrial applications. For instance, PM Oil & Steel S.p.A., a subsidiary company of Manitex International, incorporated several technological innovations, resulting in reduced weight and increased power of the loader crane.

Increasing demand for flexible and convenient knuckle boom truck loader cranes

The knuckle boom crane segment valued at around USD 750 million in 2020 was impelled by the rising demand for flexible load-lifting machines. Knuckle boom loader cranes have a foldable arm, making them ideal for lifting loads in unconventional and compact spaces. Using two booms, i.e., outer boom and main boom attached by a knuckle, these cranes can move the entire boom structure in & out and fold into a compact size while loading and unloading materials or maneuvering onto a small construction site, supporting the market trend.

New product developments to cater to varying consumer needs

In 2020, the new sales segment held more than 70% of the truck loader crane market share. Companies are manufacturing new loader crane models developed specifically for a particular application. For instance, HIAB has designed a loader crane for the waste and recycling industry, where municipalities and local authorities need to handle the management of collecting and scraping waste materials effectively.

Increasing popularity of equipment rental services due to low cost and convenience

The rental application held above 40% of the truck loader crane market share in 2020. Rental services allow end-users to buy the equipment for a specified period without the need for purchasing a new machine. Rental services also mitigate the requirement for equipment maintenance and service. Additionally, the availability of flexible truck loader crane rental plans according to customer requirements is expected to propel the market revenue.

Growing construction activities across Europe

Europe Truck Loader Crane Market Size, By Region

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The Europe truck loader crane market size surpassed USD 650 million in 2020 with about 7,000 units of new truck loader cranes sold. Significantly growing construction & development activities and the widespread presence of established industry players are likely to boost the regional market expansion. For instance, the UK government initiated the Construction 2025 strategy for its sustainable growth in the construction, architecture, and design sectors. Under this strategy, the government will make large investments in the housing, transportation, energy, digital infrastructure, water, and commercial property sectors.

Market leaders focusing on product portfolio expansion & alliances to gain market share

Competition in the market is increasing based on product strength & quality, distribution channel, and customer service support. Prominent players are focusing on product portfolio expansion and strategic alliances to increase their global market share. For instance, in May 2020, Palfinger AG launched its new PK 37.002 TEC 7 truck loader crane model in Hong Kong for the safe and precise lifting of power generator sets. The product ensures high standards of 99.9% power stability for emergency power supply usage. The model is designed with a patented P-profile boom lightweight design and easy-to-use PALCom P7 to attract potential customers.

The truck loader crane market is dominated by major players, such as Palfinger AG, Fassi, and Hiab, that hold a high share, customer base, and global operations. Players have high bargaining power on account of the presence of a smaller number of players offering innovative technologies to the customers.

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

This market research report on truck loader crane includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and shipment in units from 2021 to 2027 for the following segments:

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Market, By Product

  • 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)

Market, By Type

  • Knuckle Boom
  • Stiff Boom

Market, By Sales

  • New Sales
  • Aftermarket

Market, By End-use

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

The above information has been provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • UK
    • Germany
    • France
    • Italy
    • Russia
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
  • Latin America
    • Brazil
    • Mexico
  • MEA
    • Saudi Arabia
    • UAE
    • South Africa
Authors: Preeti Wadhwani, Prasenjit Saha

Frequently Asked Questions (FAQ) :

Truck loader crane industry size surpassed USD 1.5 billion in 2020 and should grow at more than 8% CAGR through 2026.

The knuckle boom crane segment generated USD 750 million in revenue during 2020 and will expand with the rising demand for flexible load lifting machinery.

New sales accounted for more than 70% revenue share of truck loader crane industry in 2020.

The market for medium-duty truck loader cranes could expand at a 9% CAGR owing to efficient lifting capacity and performance in small and medium range operations.

Rental applications held more than 40% revenue share of truck loader crane market in 2020 and will grow as rental services allow end-users to rent equipment for the required period of time without the need to purchase new machinery.

Europe truck loader crane industry size exceeded USD 650 million in revenue and will expand led by increasing construction and development activities in the region.

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Premium Report Details

  • Base Year: 2020
  • Companies covered: 18
  • Tables & Figures: 406
  • Countries covered: 16
  • Pages: 345
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