Truck loader crane market size is expected to be over USD 2.5 billion by 2027, according to a new research report by GMI Inc. The growing e-commerce and manufacturing sectors across the globe are driving the expansion of the 3PL industry, providing new opportunities to the truck loader crane industry. The increasing utilization of truck loader cranes in warehouse and logistics facilities for loading and unloading activities of heavy goods and bulky cargos is supporting the market growth. The positive outlook of the manufacturing sector in Asian countries including China and India is likely to fuel the market demand.

The growth of the truck loader crane market is hampered by the high operational expenses associated with truck loader cranes that affect the end-use industries. The operations and productivity of the company may be impacted by the unexpected failure of machinery. Small businesses are compelled to stop working when a machine breaks down because they don’t have backup machines. To prevent unexpected failures, businesses employ a variety of methods for forecasting the lifecycle of these machines. End-users in the market use techniques like life-to-date cost analysis and period-cost-based analysis to lessen the effects of this industry challenge.

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Market factors, such as lower production and increased uncertainty caused by the rapid spread of the COVID-19 pandemic, negatively impacted the truck loader crane market in 2020. The health crisis forced plant closures and impacted the distribution channel of industry players, resulting into a decline in market revenues. For instance, in August 2020, Manitex International, Inc., based in Illinois, U.S. reported net revenues of USD 37.1 million in the second quarter of 2020, compared to USD 57.4 million in the previous year.

High demand for big-duty cranes due to robust design and lifting capacity

The big-duty segment held over 35% of the truck loader crane market share in 2020 propelled by rising adoption in high weightlifting & handling operations in construction, mining, and energy applications. Their sturdy design enables them to operate efficiently in harsh outdoor environments, further spurring the market expansion. Rising construction projects and infrastructure transformation activities are continuously driving the market trends.

Increasing market revenues are stiff boom cranes with improved stability.

The stiff boom segment is anticipated to grow at a CAGR of about 7% through 2027. Global sales of stiff boom truck loader cranes in 2020 exceeded 6,000 units. Because they can suspend large loads in the air for extended periods of time with little to no drift, these cranes are becoming more and more common. All of the moving components in these cranes are hidden inside the device, preventing physical damage to these vital components while it is in use.

Increasing demand for versatile cranes from the forestry application

Forestry application accounted for more than 2% of the truck loader crane market share in 2020. Players are offering high-performance truck loader cranes for forestry applications. For instance, HIAB offers forestry cranes that are durable vehicles with solid construction and smart solutions that deliver superior safety and operational efficiency.

Increasing construction sector investments in Asia Pacific will enhance the market demand

The Asia Pacific truck loader crane market is set to observe a CAGR of above 7.5% from 2021 to 2027 driven by increasing government policies & initiatives that support the infrastructure development in Asian countries. For instance, ‘One Belt, One Road (OBOR)’ project by the Government of China, is developed to accelerate the infrastructure development & construction in the country. The project is expected to be completed by 2049, accelerating the adoption of truck loader cranes in China.

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Companies are focusing on expansion of their business operations as a part of their strategic outlook. For instance, in November 2019, Manitex International Inc. announced the development of its Italian operations with the establishment of PM and Oil & Steel businesses as a separate division. The new division is responsible for sales, spare parts & services, engineering, manufacturing, and other commercial operations for truck loader cranes. The move was aimed at enhancing the performance and results of PM and Oil & Steel businesses.

Some of the major companies in the truck loader crane market include Hiab, Palfinger AG, Tadano Ltd., Fassi Gru S.p.A., EFFER S.R.L., Amco Veba, Hyva Crane, F.lli Ferrari, and PM OIL & STEEL.

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