Truck Crane Market to Witness Growth with Rising Construction Activities
Overview:
The global market report
on the truck crane market digs deep into various aspects of the market to learn
more about it. Market Research Future (MRFR) has identified opportunities using
which the market could mark substantial growth in the coming days. Its growth
during the forecast period of 2018 to 2023 would be governed mostly by rising
urbanization in developing countries and subsequent construction activities.
The development of power grids is also going to ensure proper backing for the
truck crane market.
Segmentation:
To simplify the study of
the global truck cranes market, MRFR analysts have segmented in into types and
applications. This would help in charting a course for the market in the coming
days.
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By type, the global
market report on the truck crane market includes mounted cranes, sidelift
crane, boom truck crane, and others. The mounted crane segment is showing
opportunities to outpace others during the forecast period.
By applications, the
market has been segmented as construction, industries, utilities and others.
The construction segment has the largest market share and is expected to get
boosted by increasing population and urbanization. Rising investments in power
transmission and distribution (T&D) networks can also expand the scope of
operation for the market.
Regional Analysis:
Asia Pacific is both the
largest and the fastest-growing region for the truck
crane market. China is providing the maximum revenue. India, South Korea,
and others are also impacting the market in significant ways. Renovation
activities in Europe is bound to provide tailwind to the market.
Competitive Landscape:
Terex Corporation (U.S.),
Tadano Ltd. (Japan), Liebherr Group (Switzerland), The Manitowoc Company, Inc.
(U.S.), Kato Works Co., Ltd (Japan), Xuzhou Construction Machinery Group Co.,
Ltd. (China), Manitex International Inc. (U.S.), Elliott Equipment Company
(U.S.), Altec Industries (U.S.), Sany Group (China), Böcker
Maschinenwerke GmbH (Germany), and others are impacting the truck crane market
with strategic mechanisms.
Industry News:
In August 2020, UK rental
company DSM Contract Lifting, an UK-based rental company, announced that they
have received a new six tonne Böcker AK 46/6000 aluminium truck crane. This new
device has a 33 metre main boom with an 11 metre two section telescopic
offsettable jib and a two metre extension. It has this ability to handle up to
a radius of eight metres or, in other ways, take one tonne to 26 metres or
carry 250kg to 39 metres. Among its other features, automatic levelling,
wireless remote controls with colour screen, and fully variable outrigger set
up and monitoring can impact the market and increase the intake. It is mounted
on a 26 tonne chassis that has a rear axle steering.
In August 2020, Coppard
Plant Hire, another UK-based rental company announced the expansion of its
fleet with the addition of a 6t Klaas K1003RSX aluminium truck crane. It was
supplied by the local dealer Kranlyft UK of the German manufacturer. As per
their opinions, this lift with a right hand drive is the first of its kind. The
Klaas K1003RSX can reach up to a height of 52.75m. In addition, it can lift 1t
to a radius of 30m and 500kg up to a radius of 40m. Like other Klass cranes,
its slew cover 360 degree.
The COVID-19 crisis is
expected to have a noteworthy impact on the market. The first part of 2020 has
witnessed a substantial drop in the construction activities and also a rising
financial crunch, which may have a lasting impact on the truck crane market
growth.
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Key Questions Addressed by the Report
- What was the historic market size?
- Which segmentation (Product/ Capacity) is
driving market?
- What will be the growth rate?
- How are the key players in this
market?
- What are the strategies adopted by
key players?
TABLE OF
CONTENTS
1 EXECUTIVE
SUMMARY
2 SCOPE OF
THE REPORT
2.1 MARKET DEFINITION
2.2 SCOPE OF THE STUDY
2.2.1 DEFINITION
2.2.2 RESEARCH OBJECTIVE
2.2.3 ASSUMPTIONS
2.2.4 LIMITATIONS
2.3 RESEARCH PROCESS
2.3.1 PRIMARY RESEARCH
2.3.2 SECONDARY RESEARCH
2.4 MARKET SIZE ESTIMATION
2.5 FORECAST MODEL
3 MARKET
LANDSCAPE
3.1.1 THREAT OF NEW ENTRANTS
3.1.2 BARGAINING POWER OF BUYERS
3.1.3 THREAT OF SUBSTITUTES
3.1.4 SEGMENT RIVALRY
3.1.5 BARGAINING POWER OF BUYERS
3.2 VALUE CHAIN/SUPPLY CHAIN
ANALYSIS
4 MARKET
DYNAMICS
4.1 INTRODUCTION
4.2 MARKET DRIVERS
4.3 MARKET RESTRAINTS
4.4 MARKET OPPORTUNITIES
4.5 MARKET TRENDS
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