The medium-duty segment is forecast to observe around 9% growth rate from 2023 to 2032. These cranes offer a balance between lifting capacity and mobility, making them suitable for a wide range of applications, including construction, utilities, and landscaping. The medium-duty truck loader cranes provide a cost-effective solution for lifting and transporting loads within a specific weight range, meeting the requirements of small and medium-sized businesses.
The rental end-use segment will acquire about 40% of the truck loader crane market share by 2032. Renting cranes offers several benefits such as cost savings, flexibility, and access to advanced technologies without substantial upfront investments. Similarly, the increasing number of short-term projects and the need for specialized equipment for specific applications have further boosted the demand for rental services. The option of choosing from flexible renting plans is adding to the segment share.
Europe truck loader crane market holds a significant revenue share and is estimated to observe a considerable growth through 2032. The region's construction industry, along with infrastructure development projects, contributes to the substantial demand for truck loader cranes. Moreover, stringent regulations regarding worker safety and the adoption of advanced technologies have led to the increased equipment adoption in Europe.