The US Truck Crane Market Size was estimated at 1.6 (USD Billion) in 2023. The US Truck Crane Market Industry is expected to grow from 1.68(USD Billion) in 2024 to 2.81 (USD Billion) by 2035. The US Truck Crane Market CAGR (growth rate) is expected to be around 4.796% during the forecast period (2025 - 2035).
The US Truck Crane Market is experiencing significant trends driven by several key factors. One prominent market driver is the increasing demand for infrastructure development across the country. With the recent emphasis on rebuilding the nation's infrastructure, government initiatives are leading to a surge in construction projects, thus boosting the demand for truck cranes. Additionally, technological advancements in crane design and efficiency are influencing market dynamics. The incorporation of telematics and advanced hydraulics allows for better operational efficiency and safety, which are crucial in today’s competitive landscape. Opportunities in the US Truck Crane Market involve the growing adoption of electric and hybrid crane models.As businesses and municipalities aim for eco-friendly solutions, these alternatives present a unique chance for manufacturers to capture an evolving market segment focused on sustainability. Furthermore, there is potential in expanding service offerings, including maintenance and training services, which can enhance customer loyalty and retention. In recent times, trends such as an uptick in rental services for truck cranes are becoming more apparent. Many construction companies prefer renting equipment over purchasing due to cost-effectiveness, leading to an increased focus on rental fleet management. This shift is particularly notable in metropolitan areas where construction activity is high and space is limited, encouraging companies to utilize rental services for flexibility.Overall, the US Truck Crane Market is adapting to changing needs, preferences, and regulatory pressures, shaping a dynamic environment for stakeholders.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The US Truck Crane Market Industry is currently experiencing a significant boost due to substantial investments in infrastructure development. The Federal Government has outlined plans for the improvement of transportation networks, including roads and bridges. As per the American Society of Civil Engineers (ASCE), the US needs to invest approximately 4.5 trillion USD by 2025 to bring its infrastructure up to a satisfactory condition. This surge in infrastructure projects will inherently increase the demand for truck cranes, necessary for various construction activities including lifting heavy materials.The bipartisan Infrastructure Investment and Jobs Act signals a commitment to modernization and expansion across the United States, which is expected to escalate the market demand for truck cranes. Furthermore, state-level initiatives in states like California and Texas, focused on renewable energy developments, will also contribute positively to the growth of the US Truck Crane Market Industry as cranes are pivotal for constructing wind and solar energy facilities.
The US construction sector is a formidable driver for the US Truck Crane Market Industry, fueled by an anticipated increase in residential and commercial construction projects. According to the United States Census Bureau, the value of construction put in place in 2021 was over 1.57 trillion USD, projecting growth in the subsequent years. The growth of multi-family housing development, commercial spaces, and infrastructure upgrades contributes to the need for truck cranes in lifting and placing materials.Additionally, the National Association of Home Builders (NAHB) forecasts that the construction of new homes and apartment buildings is expected to rise by around 3% annually over the next five years, signifying an ongoing robust demand for truck cranes crucial in large-scale construction tasks.
Technological advancements in equipment durability and functionalities play a critical role in shaping the US Truck Crane Market Industry. The ongoing improvements in crane technology, driven by Research and Development (R&D) efforts by leading manufacturers, result in more efficient, safe, and versatile cranes suited for diverse tasks. For instance, manufacturers such as Liebherr and Manitowoc are continuously introducing cranes with advanced telematics, improving operational efficiency by providing real-time data regarding crane performance, safety, and maintenance alerts.The adoption of electric and hybrid truck cranes is also on the rise, driven by the increasing emphasis on sustainability, in accordance with the US Environmental Protection Agency's guidelines on reducing carbon emissions. As such, this blend of innovation enhances the appeal of truck cranes across various industries, leading to a larger market share in the US.
The US Truck Crane Market has displayed notable growth and versatility, attributed to various types of cranes employed across diverse sectors such as construction, oil and gas, and telecommunications. The market segmentation based on Type is critical in understanding the dynamics of the industry. Among these, Mounted Cranes have gained traction due to their adaptability and ease of use, allowing for efficient operation in tight urban environments. Sidelift Cranes are significant for their unique design that enables the transportation of containers and heavy loads, playing a vital role in logistics and warehouse management.Boom Truck Cranes are recognized for their versatility and reach, ideal for various applications including heavy lifting and construction tasks, which makes them a go-to choice for contractors looking for efficient equipment. The category of Others incorporates various niche cranes that serve specialized applications, demonstrating the diverse needs of end-users in various industries. As urban infrastructure evolves and construction projects become increasingly complex, the demand for these cranes is expected to grow, driven by technological advancements and rising construction activities across the United States.Additionally, regulatory changes that promote safer and more efficient lifting solutions are likely to propel the uptake of various types of cranes within the market. With advancements in materials and manufacturing processes, these crane types are becoming more efficient, durable, and user-friendly, which is essential as industries seek to optimize their operations and reduce costs. Overall, the segmentation by Type within the US Truck Crane Market highlights a landscape filled with opportunities fostered by technological innovation, regulatory support, and evolving industrial requirements.
Source: Primary Research, Secondary Research, MRFR Database and Analyst Review
The US Truck Crane Market is significantly influenced by its application across various sectors, including Construction, Industries, Utilities, and Others. The Construction sector plays a pivotal role, often demanding high-capacity cranes for lifting heavy materials, thereby enhancing project efficiency and safety. Furthermore, the Industrial sector benefits from truck cranes for manufacturing and assembly processes, reflecting their importance in maintaining productivity in factories and warehouses. Utilities also require these cranes to facilitate repairs and upgrades to infrastructure such as power lines and water systems, which is crucial for maintaining service reliability.Additionally, other applications, encompassing various tasks from military to forestry, contribute to market diversity. With the forecasted growth in infrastructure development in the US and rising investments in industrial facilities, the overall demand for truck cranes remains strong. This trend is supported by ongoing advancements in crane technology that promote safety and efficiency, making truck cranes an integral part of many operations across the US economy.
The US Truck Crane Market showcases a dynamic competitive landscape characterized by innovation, quality, and specialized products tailored to meet diverse industry demands. Companies in this market are striving to differentiate themselves through advancements in technology, enhanced lifting capacities, and improved safety features. As the construction and infrastructure sectors continue to expand, the market remains resilient, fueled by ongoing investments and projects leading to heightened demand for truck cranes. The competitive insights reveal a blend of established players and emerging firms positioning themselves strategically through mergers, acquisitions, and alliances to capture market share and respond to changing customer preferences. Understanding the strengths and positioning of key market participants is vital for stakeholders looking to navigate this evolving landscape effectively.Manitowoc has established a considerable presence in the US Truck Crane Market, recognized for its commitment to quality and engineering excellence. The company's strengths lie in its innovative designs that prioritize safety, efficiency, and robustness. By implementing advanced technologies in their truck cranes, Manitowoc effectively addresses the demands of modern construction projects. The firm has built a reputation for reliability and performance, ensuring that their cranes can handle rigorous tasks across various applications. Manitowoc's strategic focus on enhancing service networks and providing robust customer support has further solidified its standing, making it a preferred choice among contractors and businesses requiring lifting solutions in the US.Hercules Machinery operates within the US Truck Crane Market, offering a comprehensive range of products and services tailored to meet the needs of different industries, including construction and logistics. The company stands out due to its specialized lifting equipment and fleet maintenance services that ensure optimal operational efficiency for clients. Hercules Machinery’s strengths are evident in its commitment to quality, competitive pricing, and customer-centric approach, which has fueled its growth and market presence. The company has engaged in strategic partnerships and mergers, enhancing its capabilities and expanding its product portfolio. By focusing on regional demands and strengthening its distribution network, Hercules Machinery continues to position itself favorably in the US market, delivering value through innovative solutions and exceptional service.
The US Truck Crane Market has experienced significant developments recently, particularly in July 2023 when Terex announced enhancements in their product line to improve operational efficiency and reduce emissions. In August 2023, Manitowoc introduced new models to meet growing demand in infrastructure projects, effectively increasing their market share. Meanwhile, growth in overall market valuation has been reported, with major companies like Tadano and XCMG exhibiting robust financial performance due to increased construction and infrastructure investments in the US. There have been no publicly reported mergers or acquisitions involving the specified companies such as Hercules Machinery, Broderson Manufacturing, or LinkBelt in recent months. In terms of market conditions, the US government’s push for infrastructure development is driving demand for truck cranes, with projects expected to materialize over 2024 and beyond. Significant happenings in recent years include Clark Equipment's diversification initiatives announced in March 2022, emphasizing a strategic focus on electric machinery. The market is seeing continued interest in enhanced lifting capabilities, prioritizing safety and technological integration, which is impacting operational standards across the industry.
| Report Attribute/Metric Source: | Details |
| MARKET SIZE 2018 | 1.6(USD Billion) |
| MARKET SIZE 2024 | 1.68(USD Billion) |
| MARKET SIZE 2035 | 2.81(USD Billion) |
| COMPOUND ANNUAL GROWTH RATE (CAGR) | 4.796% (2025 - 2035) |
| REPORT COVERAGE | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| BASE YEAR | 2024 |
| MARKET FORECAST PERIOD | 2025 - 2035 |
| HISTORICAL DATA | 2019 - 2024 |
| MARKET FORECAST UNITS | USD Billion |
| KEY COMPANIES PROFILED | Manitowoc, Hercules Machinery, Broderson Manufacturing, Kato Works, Fassi, Hewden, Tadano, XCMG, National Crane, Terex, Clark Equipment, LinkBelt, Altec Industries, Zoomlion |
| SEGMENTS COVERED | Type, Application |
| KEY MARKET OPPORTUNITIES | Infrastructure development projects, Increasing construction activity, Rising demand for rental services, Advancements in crane technology, Sustainable and eco-friendly cranes |
| KEY MARKET DYNAMICS | Growing construction activities, Infrastructure investment increases, Technological advancements in cranes, Demand for rental services, Strict safety regulations |
| COUNTRIES COVERED | US |
Frequently Asked Questions (FAQ) :
The US Truck Crane Market is expected to be valued at 1.68 USD billion in 2024.
By 2035, the US Truck Crane Market is anticipated to reach a valuation of 2.81 USD billion.
The expected compound annual growth rate (CAGR) for the US Truck Crane Market from 2025 to 2035 is 4.796 percent.
Mounted Cranes are projected to hold the largest market share with a value of 0.54 USD billion in 2024.
The market value for Sidelift Cranes is expected to be 0.63 USD billion in 2035.
Key players in the US Truck Crane Market include Manitowoc, Broderson Manufacturing, Kato Works, and Terex.
Boom Truck Cranes are anticipated to grow from 0.5 USD billion in 2024 to 0.83 USD billion in 2035.
Challenges include increasing competition and fluctuating raw material costs affecting profit margins.
Applications include construction, infrastructure development, and specialized lifting tasks across various industries.
The 'Others' segment of the US Truck Crane Market is expected to reach a value of 0.44 USD billion by 2035.
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