Truck Loader Crane Market study on key players, Industry Share and Regional Analysis

The truck loader crane market is projected to foresee commendable growth by 2027 owing to high product usage across numerous end-use industries such as oil & gas, rental, mining, forestry, logistics and construction among many others.
A truck loader crane, crane truck or truck-mounted crane is a crane which is generally mounted to a truck, either just behind the deck or the cab. It is specifically designed to load or unload goods from the truck's deck. This simply means that the rider could deliver items exactly where it is required without having the need for a separate crane, telehandler or forklift.
The truck loader crane market is bifurcated into product, type, sales, end-use, and regional landscape.
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With respect to product, the truck loader crane market is categorized into heavy-duty, big-duty, medium-duty, and small-duty. The heavy-duty segment is slated to grow at a CAGR of 5% over the analysis timeline segment. This growth is ascribed to the increasing demand for heavy load lifting applications in construction and oil & gas industry.
Based on type, the market is classified into stiff boom and knuckle boom. Among these, the knuckle boom segment will witness high demand due to its flexibility and convenience in operation. The efficiency and versatility of this type of equipment has increased its popularity in comparison to other counterparts.
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The articulation of the knuckle boom makes it very beneficial on smaller spaces or narrower streets. As most of the articulating arms are made of very lightweight materials, normally knuckle boom ones are much lighter in comparison to stiff-boom ones.
Talking of sales, the truck loader crane market is classified into aftermarket and new sales. New sales segment will experience high market share over the coming time period owing to the increasing demand for truck loader crane machines across numerous industries.
In terms of end-use, the market for truck loader crane is segmented into logistics, forestry, energy, oil & gas, mining, construction and rental. In 2020, the construction segment was valued at more than $130 million and will continue to exhibit similar growth patterns over the coming years. The rising construction activities across the globe will accelerate the segment growth.
Since truck loader cranes provide excellent mobility, these are highly preferred for construction activities. In addition, various versions of truck mounted cranes are present, for instance, special truck mounted cranes are utilized for maintenance, inspection as well as for building of bridges.
On the regional front, the Middle East & Africa region will witness tremendous growth over the coming years due to the rapidly growing oil & gas industry.