Truck Mounted Crane Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2021-2031

The Global Truck Mounted Crane Market is projected to expand from USD 14.51 billion in 2025 to USD 22.66 billion by 2031, reflecting a compound annual growth rate of 7.71%. Defined as hydraulic lifting devices mounted on commercial vehicle chassis, these cranes are engineered to provide high mobility for loading and unloading heavy cargo. The market is primarily propelled by rapid urbanization and a surge in infrastructure projects that demand flexible lifting capabilities within confined spaces. Additionally, the logistics and utility sectors significantly bolster demand by necessitating efficient material handling and maintenance equipment that operates independently of stationary machinery.

One significant obstacle hindering market expansion is the high initial acquisition cost and expensive maintenance required for modern crane systems. These financial barriers often discourage small and medium-sized enterprises from upgrading their fleets or entering the market. Despite these economic and regulatory challenges, industry data indicates resilient demand; according to the China Construction Machinery Association, cumulative sales of truck cranes reached 20,909 units in the first ten months of 2025. This statistic highlights the continued necessity for these vehicles even amidst substantial barriers to entry.

Market Drivers

A primary catalyst for the truck-mounted crane market is the surge in global infrastructure development and modernization, characterized by substantial government and private investment in energy grids and transportation networks. These mobile lifting solutions are indispensable for operations in remote or undeveloped terrains where the installation of stationary machinery is logistically unfeasible, with demand being particularly strong in emerging economies undergoing structural transformation. For instance, Palfinger AG reported in its 'Quarter Closing Q3 2025' that the company achieved EUR 1.68 billion in revenue for the first nine months of the year, a performance significantly driven by record developments in the Latin American region.

Simultaneously, the rising demand for efficient logistics and cargo transportation acts as a major driver, fueling the need for vehicles capable of autonomous loading and unloading to reduce supply chain downtime. As logistics providers aim to maximize fleet utilization, there is a distinct transition toward advanced crane systems that deliver improved efficiency and regulatory sustainability compliance. This shift is evident in Hiab Corporation's 'Interim Report January-September 2025', which noted a 23 percent increase in sales of its Eco portfolio, totaling EUR 140 million. Furthermore, general market volume reflects this appetite; the China Construction Machinery Industry Association reported in 'August 2025 Sales Data' that monthly truck-mounted crane sales reached 1,664 units, marking a 7.29 percent year-on-year increase.

Market Challenges

The expansion of the truck-mounted crane market is significantly hindered by the high initial acquisition costs and expensive maintenance requirements associated with modern crane systems. These vehicles demand substantial capital investment due to the complexity of integrating hydraulic systems with heavy-duty commercial truck chassis, creating a prohibitive upfront expense for many potential buyers, especially small and medium-sized enterprises. Consequently, these financial constraints limit the ability of smaller firms to upgrade aging fleets or enter the market, while the total cost of ownership is further elevated by the necessity for specialized servicing and adherence to strict regulatory compliance.

This financial pressure directly affects procurement activities, resulting in stagnated sales volumes as companies postpone capital-intensive purchases due to economic constraints. The reluctance to invest in new machinery is reflected in recent industry performance data; according to the Indian Construction Equipment Manufacturers' Association, the sales volume of material handling equipment, a segment essential to lifting operations, declined by 9% to 17,050 units in the fiscal year 2025. This contraction in equipment sales underscores how elevated costs effectively suppress demand and impede the overall growth momentum of the global market.

Market Trends

The market is currently being reshaped by an increasing preference for articulating knuckle boom configurations, as operators prioritize equipment suited for complex maneuvers within congested urban environments. Unlike stiff-boom alternatives, these knuckle boom cranes provide superior geometry that allows for reaching over obstacles and delivering loads into tight spaces, which is essential for modern metropolitan infrastructure projects. This trend has prompted major industry players to aggressively expand their portfolios in the loader crane category; according to an article in Crane & Transport Briefing from February 2025, Tadano forecasts a 131.6 percent increase in loader crane sales for 2025, demonstrating the strong commercial momentum behind these versatile lifting solutions.

In parallel, the integration of telematics and IoT for predictive maintenance is becoming a standard operational requirement aimed at minimizing downtime and extending equipment lifecycles. By embedding sensors to monitor hydraulic pressure, load cycles, and engine health in real-time, fleet managers are able to shift from reactive repairs to data-driven maintenance schedules, enhancing safety while generating revenue for manufacturers through digital service subscriptions. The financial significance of this shift is highlighted by Hiab in the 'Cargotec's financial statements review 2024' from February 2025, where service sales encompassing intelligent connected solutions reached EUR 462 million for the full year, underscoring the value of digital integration in the current landscape.

Key Players Profiled in the Truck Mounted Crane Market

• XCMG Group
• Liebherr Group
• Tadano Ltd.
• Terex Corporation
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• Kobelco Construction Machinery Co., Ltd.
• Manitowoc Cranes
• Sany Group
• Palfinger AG
• Fassi Gru S.p.A.

Report Scope

In this report, the Global Truck Mounted Crane Market has been segmented into the following categories:

Truck Mounted Crane Market, by Type:

• Knuckle Boom Cranes
• Telescopic Boom Cranes
• Stiff Boom Cranes
• Hydraulic Cranes

Truck Mounted Crane Market, by Capacity:

• Below 10 Tons
• 10-20 Tons
• 20-50 Tons
• above 50 Tons

Truck Mounted Crane Market, by End-User Industry:

• Construction
• Oil & Gas
• Mining
• Logistics & Transportation
• Utility & Maintenance
• Others

Truck Mounted Crane Market, by Region:

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Truck Mounted Crane Market.

Available Customization

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• Detailed analysis and profiling of additional market players (up to five).

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