#United States #Newark #FMI #Future Market Insights #Truck Mounted Cranes

The Truck Mounted Cranes Market: A Future Outlook

The global market for truck mounted cranes is expected to witness remarkable growth, rising from an estimated USD 2.7 billion in 2025 to approximately USD 28.7 billion by 2036. This projection indicates a compound annual growth rate (CAGR) of 8.1%, signaling a transformative phase within the industry. Key nations leading this expansion include the United States, Germany, and China, as modernization of equipment becomes a priority for contractors and utility companies alike.

Market Growth Drivers

The anticipated growth results from several driving forces in the market. Firstly, there is a notable shift from merely expanding existing fleets to modernizing equipment. Operators are increasingly investing in advanced lifting systems that promise enhanced safety, efficiency, and operational versatility.

Despite the complexities of supply chains and varying safety standards across regions, leading manufacturers are thriving by forming strategic rental partnerships and embracing technology integration. Notably, telematics, operator monitoring, and advanced safety features are becoming essential factors influencing purchasing decisions.

Quick Market Stats:

• - Market Value (2025): USD 2.7 billion
• - Estimated Value (2026): USD 13.2 billion
• - Forecast Value (2036): USD 28.7 billion
• - Forecast CAGR (2026–2036): 8.1%

The market is primarily dominated by 15–30 ton capacity cranes, expected to hold a 38% market share by 2026, primarily driven by their efficiency and adaptability to numerous job site conditions.

Key Applications of Truck Mounted Cranes

Truck mounted cranes serve a multitude of applications, with a significant focus on construction and infrastructure development. As businesses in these sectors evolve, the demand for mobile lifting solutions that enable flexibility and efficiency is paramount. Estimated growth will see construction-related applications accounting for around 32.8% of market share in 2026.

Technological Advancements

An essential aspect fostering market growth is the increasing integration of telematics in crane capabilities. As digitization becomes a non-negotiable operational requirement, fleet operators are recognizing the importance of tracking utilization rates, maintenance schedules, and operator performance.

Nikhil Kaitwade, Principal Consultant for Industrial Automation at Future Market Insights, emphasizes that the growing importance of telematics will not only enhance efficiency but also aid companies in navigating stringent safety regulations.

The Competitive Landscape

The competitive scenario within the truck mounted cranes market is increasingly shaped by digitization and compliance readiness. Manufacturers that can optimize lifting capacity and enhance telematics safety are likely to rise to the forefront. Additionally, having strong rental partnerships is becoming critical for securing quick deployment and sustained utilization.i

Key players in the industry include Manitex International, Tadano, Liebherr, Terex, and others, all vying for market share through superior technology and cohesive service offerings that promote lifecycle value.

Looking Ahead

Market growth is projected not just in developed economies, but also in rapidly developing regions where infrastructure programs are booming. The U.S. is predicted to enjoy a CAGR of 8.9%, while Germany and China are also expected to see robust growth driven by their extensive urban development initiatives.

In summary, the truck mounted cranes market stands on the brink of significant transformation, largely influenced by modernization efforts in major markets, technological advancements, and evolving customer demands. As the industry evolves, stakeholders should be strategic in their partnerships and adopt technology to address the challenges ahead.

For manufacturers and rental firms, success will hinge on the ability to leverage telematics and service partnerships, ensuring they meet the needs of a changing market landscape.