Truck Mounted Crane Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, Segmented By Type (Knuckle Boom Cranes, Telescopic Boom Cranes, Stiff Boom Cranes, Hydraulic Cranes), By Capacity (Below 10 Tons, 10–20 Tons, 20–50 Tons, above 50 Tons), By End-User Industry (Construction, Oil & Gas, Mining, Logistics & Transportation, Utility & Maintenance, Others), By Region & Competition, 2021-2031F

Forecast Period	2027-2031
Market Size (2025)	USD 14.51 Billion
CAGR (2026-2031)	7.71%
Fastest Growing Segment	Telescopic Boom Cranes
Largest Market	North America
Market Size (2031)	USD 22.66 Billion

Market Overview

The Global Truck Mounted Crane Market will grow from USD 14.51 Billion in 2025 to USD 22.66 Billion by 2031 at a 7.71% CAGR. A truck mounted crane is a hydraulic lifting apparatus attached to a commercial vehicle chassis designed to load and unload heavy cargo with high mobility. The primary drivers supporting market growth include rapid urbanization and increasing infrastructure projects which necessitate flexible lifting solutions in space constrained areas. The logistics and utility sectors also contribute significantly to demand by requiring efficient equipment for material handling and maintenance operations without relying on stationary machinery.

One significant challenge that could impede market expansion is the high initial acquisition cost and expensive maintenance associated with modern crane systems. These financial barriers often deter small and medium sized enterprises from upgrading their fleets or entering the market. According to the China Construction Machinery Association, in the first ten months of 2025, cumulative sales of truck cranes reached 20,909 units. This data illustrates the sustained demand for these vehicles despite the economic and regulatory hurdles facing the industry.

Key Market Drivers

The Surge in Global Infrastructure Development and Modernization stands as a primary catalyst for the truck mounted crane market, as governments and private entities channel capital into expanding energy grids and transportation networks. These mobile lifting solutions are critical for projects located in remote or undeveloped terrains where installing stationary machinery is logistically impractical. The demand for such flexible equipment is particularly robust in emerging economies undergoing significant structural transformation. According to Palfinger AG, October 2025, in the 'Quarter Closing Q3 2025' report, the company recorded revenue of EUR 1.68 billion for the first nine months of the year, driven notably by the Latin American region which reached record performance levels due to strong economic developments.

Increasing Demand for Efficient Logistics and Cargo Transportation is equally influential, necessitating vehicles capable of autonomous loading and unloading to minimize downtime in the supply chain. As logistics providers seek to optimize fleet utilization, there is a marked shift toward advanced crane systems that offer enhanced efficiency and sustainability compliance. This trend is reflected in the growing sales of specialized equipment designed for modern operational standards. According to Hiab Corporation, October 2025, in the 'Interim Report January–September 2025', sales of the company's Eco portfolio increased by 23 percent, totaling EUR 140 million. This appetite for efficient material handling units is further evidenced by general market volume; according to the China Construction Machinery Industry Association, August 2025, in the 'August 2025 Sales Data', monthly sales of truck-mounted cranes reached 1,664 units, representing a 7.29 percent year-on-year increase.

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Key Market Challenges

The high initial acquisition cost and expensive maintenance associated with modern crane systems present a substantial barrier to the expansion of the truck-mounted crane market. These vehicles require significant capital investment due to the integration of complex hydraulic systems with heavy-duty commercial truck chassis. For many potential buyers, particularly small and medium-sized enterprises, this upfront expense is prohibitive, limiting their ability to upgrade aging fleets or enter the market entirely. Furthermore, the total cost of ownership is compounded by the need for specialized servicing and strict regulatory compliance, which further strains the operational budgets of logistics and construction firms.

This financial pressure directly impacts procurement activities, leading to stagnated sales volumes as companies delay capital-intensive purchases. The reluctance to invest in new machinery due to economic constraints is evident in recent industry performance figures. According to the Indian Construction Equipment Manufacturers' Association, in the fiscal year 2025, the sales volume of material handling equipment, a segment integral to lifting operations, declined by 9% to 17,050 units. This contraction in equipment sales highlights how high costs effectively dampen demand and hamper the overall growth momentum of the global market.

Key Market Trends

The Increasing Preference for Articulating Knuckle Boom Configurations is reshaping the market as operators prioritize equipment capable of complex maneuvers in congested urban environments. Unlike stiff-boom alternatives, these knuckle boom cranes offer superior geometry for reaching over obstacles and delivering loads into tight spaces, a necessity for modern metropolitan infrastructure projects. Manufacturers are aggressively expanding their portfolios in this segment to capture the growing demand for versatile, folding crane architectures. This strategic shift is exemplified by major industry players scaling their production and acquisition efforts in the loader crane category. According to Crane & Transport Briefing, February 2025, in the 'All-time record net sales for Tadano' article, the manufacturer forecasts a 131.6 percent increase in loader crane sales for 2025, highlighting the substantial commercial momentum behind these articulated lifting solutions.

Concurrently, the Integration of Telematics and IoT for Predictive Maintenance is becoming a standard operational requirement to minimize downtime and extend equipment lifecycle. By embedding sensors that monitor hydraulic pressure, load cycles, and engine health in real-time, fleet managers can transition from reactive repairs to data-driven maintenance schedules. This connectivity not only enhances safety but also creates a lucrative revenue stream for manufacturers through digital service subscriptions and aftermarket support. The financial impact of this service-oriented approach is evident in recent corporate performance reports. According to Hiab, February 2025, in the 'Cargotec's financial statements review 2024', service sales, which encompass intelligent connected solutions, reached EUR 462 million for the full year, underscoring the critical value of digital integration in the current market landscape.

Segmental Insights

The Telescopic Boom Cranes segment represents the fastest growing category within the Global Truck Mounted Crane Market, driven by extensive demand across the construction and utility sectors. These cranes provide essential linear reach and simplified maneuverability, making them highly effective for assembling prefabricated structures and maintaining power grids in dense urban areas. This preference is accelerated by global infrastructure development projects requiring efficient vertical lifting capabilities. Consequently, contractors increasingly select telescopic variants for their operational versatility and ability to function effectively in confined workspaces compared to alternative lifting mechanisms.

Regional Insights

North America leads the global truck-mounted crane market, supported by extensive infrastructure modernization and sustained activity in the utility and energy sectors. The region experiences consistent demand for mobile lifting solutions to facilitate large-scale residential and commercial construction projects. Furthermore, the robust oil and gas industry necessitates durable equipment for operational logistics. Stringent safety protocols established by the Occupational Safety and Health Administration also drive the adoption of compliant machinery, reinforcing the region's leadership in the global landscape without relying on generic market trends.

Recent Developments

• In November 2024, XCMG Cranes officially unveiled the XCT100G5-1HEV, a revolutionary hybrid truck crane, at the bauma China exhibition. This new model represents a significant breakthrough in the sector, featuring advanced hybrid technology designed to reduce environmental impact while enhancing operational efficiency. The crane was developed to meet the growing demand for sustainable construction machinery without compromising on lifting performance. By integrating an electric drive system with traditional power sources, the company aimed to offer a solution that lowers emissions and operating costs for customers in the global lifting market.
• In October 2024, Palfinger launched two new heavy-duty crane models, the PK 1350 TEC and the PK 1650 TEC, expanding its TEC range for complex and high-load applications. These cranes were engineered with the latest electronic controls and intelligent assistance systems to provide maximum precision and outreach in urban and large construction sites. The PK 1350 TEC features a lifting capacity of 109.3 meter tonnes, while the PK 1650 TEC achieves 124.8 meter tonnes with the same outreach. The company incorporated dual-circuit hydraulics to ensure consistent power availability for demanding tasks requiring multiple simultaneous functions.
• In September 2024, Hiab introduced the HIAB iQ.708 HIPRO, a new heavy loader crane in the 60 to 70 tonne-meter range, designed to optimize payload and performance. The model was developed with a V12-Power boom profile, balancing weight and lifting capacity to allow for installation on a wider variety of truck chassis. Equipped with the advanced SPACEevo control system, the crane offers features like Synchronised Distance Control to enhance safety and productivity for operators. This launch was part of the company's strategy to provide modular, all-rounder units that deliver high performance in a compact frame for the truck-mounted crane segment.
• In August 2024, Manitowoc expanded its product offerings for emerging markets by launching a new lineup of Grove truck-mounted cranes, including the TMC550, TMC250, and TMC750. These models were specifically tailored to meet the requirements of customers in the Middle East, Africa, and Latin America, featuring robust designs and advanced technologies for improved efficiency. The TMC550, for instance, offers a 55-tonne capacity and a 45-meter telescoping main boom, positioning it as a competitive solution for the region's construction needs. The company emphasized that these additions complement its existing portfolio, providing comprehensive lifting solutions backed by extensive regional aftermarket support.

Key Market Players

• 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.

By Type	By Capacity	By End-User Industry	By Region
Knuckle Boom Cranes Telescopic Boom Cranes Stiff Boom Cranes Hydraulic Cranes	Below 10 Tons 10-20 Tons 20-50 Tons above 50 Tons	Construction Oil & Gas Mining Logistics & Transportation Utility & Maintenance Others	North America Europe Asia Pacific South America Middle East & Africa

Report Scope:

In this report, the Global Truck Mounted Crane Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

• 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
• United States
• Canada
• Mexico
• Europe
• France
• United Kingdom
• Italy
• Germany
• Spain
• Asia Pacific
• China
• India
• Japan
• Australia
• South Korea
• South America
• Brazil
• Argentina
• Colombia
• Middle East & Africa
• South Africa
• Saudi Arabia
• UAE