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The Truck Mounted Crane Market is projected to grow from USD 13.38 Billion in 2023 to USD 19.40 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 5.63%
For a clearer picture of the industry in the upcoming years, the study discusses market segmentation and dynamics. A crane that is mounted to a truck, either directly behind the cab or just behind the deck, is known as a truck loader crane, truck-mounted crane, HIAB, or “crane truck.” It is intended to hoist cargo into and off of the truck, enabling a driver to deliver products precisely where they are needed without using a forklift, telehandler, or additional crane.
North America, Europe, Asia-Pacific, South America, and the Middle East & Africa are the regions into which the truck mounted crane market is divided.
China, India, Vietnam, and Australia are the largest country-level markets in the Asia-Pacific area, which is also where the construction industry is experiencing the highest growth. The expansion of the construction sector and, as a result, the market for truck mounted cranes has been fueled by the expansion of new infrastructure projects in this area and an improvement in financial conditions. Additionally, the market for truck mounted cranes in the area is expanding due to the quick industrialization and urbanisation in growing nations like China and India.
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Regional Analysis:
North America, Europe, Asia-Pacific, South America, and the Middle East & Africa are the regions into which the truck mounted crane market is divided.
China, India, Vietnam, and Australia are the largest country-level markets in the Asia-Pacific area, which is also where the construction industry is experiencing the highest growth. The expansion of the construction sector and, as a result, the market for truck mounted cranes has been fueled by the expansion of new infrastructure projects in this area and an improvement in financial conditions. Additionally, the market for truck mounted cranes in the area is expanding due to the quick industrialization and urbanisation in growing nations like China and India.
Market Segmentation:
The market will develop as a result of rising product demand from the construction sector and rising demand for infrastructure upgrades. Type, application, and geographic regions have all been used to segment the worldwide truck mounted crane market.
The world market has been divided into mounted cranes, sidelift cranes, boom truck cranes, and other types based on type. The segment for boom truck cranes had the biggest market share in 2019 (41.1%). During the anticipated timeframe, a sizable CAGR is expected to be registered.
The global market has been divided into construction, utilities, industries, and other segments based on application. The utilities sector held a sizeable market share of 43.3% in 2019. Over the predicted period, a CAGR of 7.3% is anticipated.
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Key Players:
The key players in truck mounted train are:
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