Global Wheeled Crane Market Size, Share, Analysis Report - Forecast 2032

Wheeled Crane Market Insights

A latest report by Market Research Store estimates that the Global Wheeled Crane Market was valued at USD 16.78 Billion in 2023 and is expected to reach USD 26.98 Billion by 2032, with a CAGR of 5.42% during the forecast period 2024-2032. The report Wheeled Crane Market overview, growth factors, restraints, opportunities, segmentation, key developments, competitive landscape, consumer insights, and market growth forecast in terms of value or volume. These structured details offer an all-inclusive market overview, providing valuable insights for investment decisions, business decisions, strategic planning, and competitive analysis.

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Wheeled Crane Market: Overview

The growth of the wheeled crane market is fueled by rising global demand across various industries and applications. The report highlights lucrative opportunities, analyzing cost structures, key segments, emerging trends, regional dynamics, and advancements by leading players to provide comprehensive market insights. The wheeled crane market report offers a detailed industry analysis from 2024 to 2032, combining quantitative and qualitative insights. It examines key factors such as pricing, market penetration, GDP impact, industry dynamics, major players, consumer behavior, and socio-economic conditions. Structured into multiple sections, the report provides a comprehensive perspective on the market from all angles.

Key sections of the wheeled crane market report include market segments, outlook, competitive landscape, and company profiles. Market Segments offer in-depth details based on Type, Propulsion, End User, and other relevant classifications to support strategic marketing initiatives. Market Outlook thoroughly analyzes market trends, growth drivers, restraints, opportunities, challenges, Porter’s Five Forces framework, macroeconomic factors, value chain analysis, and pricing trends shaping the market now and in the future. The Competitive Landscape and Company Profiles section highlights major players, their strategies, and market positioning to guide investment and business decisions. The report also identifies innovation trends, new business opportunities, and investment prospects for the forecast period.

Key Highlights:

• As per the analysis shared by our research analyst, the global wheeled crane market is estimated to grow annually at a CAGR of around 5.42% over the forecast period (2024-2032).
• In terms of revenue, the global wheeled crane market size was valued at around USD 16.78 Billion in 2023 and is projected to reach USD 26.98 Billion by 2032.
• The market is projected to grow at a significant rate due to increasing infrastructure development, growing construction activities, and the rising demand for efficient material handling solutions in various industries like logistics, manufacturing, and energy.
• Based on the Type, the Truck Cranes segment is growing at a high rate and will continue to dominate the global market as per industry projections.
• On the basis of Propulsion, the Engine Powered segment is anticipated to command the largest market share.
• In terms of End User, the Construction segment is projected to lead the global market.
• Based on region, Asia-Pacific is projected to dominate the global market during the forecast period.

Wheeled Crane Market: Report Scope

This report thoroughly analyzes the wheeled crane market, exploring its historical trends, current state, and future projections. The market estimates presented result from a robust research methodology, incorporating primary research, secondary sources, and expert opinions. These estimates are influenced by the prevailing market dynamics as well as key economic, social, and political factors. Furthermore, the report considers the impact of regulations, government expenditures, and advancements in research and development on the market. Both positive and negative shifts are evaluated to ensure a comprehensive and accurate market outlook.

Wheeled Crane Market: Dynamics

Key Growth Drivers

The Wheeled Crane market in India is experiencing robust growth primarily driven by the rapid expansion of infrastructure development projects across various sectors including transportation (roads, railways, ports, airports), energy (power plants, renewable energy installations), and urban development (construction of commercial and residential buildings). The increasing demand for efficient material handling and lifting solutions in these projects necessitates the deployment of mobile and versatile wheeled cranes. Furthermore, the growing industrial sector, including manufacturing, oil & gas, and mining, also contributes significantly to the demand for wheeled cranes for lifting heavy equipment and materials. The availability of a wide range of wheeled crane types and capacities caters to diverse project requirements and budgets. The increasing adoption of rental services for wheeled cranes provides flexibility and reduces the initial capital investment for many end-users.

Restraints

Despite the strong growth drivers, the Wheeled Crane market in India faces certain restraints. The high initial cost of purchasing new and advanced wheeled cranes can be a significant barrier, especially for smaller construction companies and contractors. Inadequate infrastructure, particularly poor road conditions and limited accessibility at some project sites, can hinder the transportation and operation of wheeled cranes. Furthermore, the availability of skilled operators and maintenance personnel remains a challenge, potentially leading to inefficient operation and downtime. Stringent safety regulations and the need for compliance can increase operational costs and require specialized training. Price sensitivity in the highly competitive construction and infrastructure sectors often puts pressure on rental rates and the pricing of new equipment.

Opportunities

The Wheeled Crane market in India presents numerous opportunities for growth and technological advancement. The increasing focus on smart construction and automation can drive demand for wheeled cranes with advanced features like telematics, remote monitoring, and enhanced safety systems. The development of more fuel-efficient and environmentally friendly wheeled cranes can cater to the growing emphasis on sustainability. Furthermore, the expansion of specialized infrastructure projects, such as metro rail networks and large industrial complexes, will require high-capacity and specialized wheeled cranes. The growing rental market offers opportunities for fleet expansion and the provision of value-added services like operator training and maintenance contracts. The potential for domestic manufacturing of high-quality wheeled cranes can reduce import dependence and lower costs.

Challenges

The Wheeled Crane market in India faces challenges related to ensuring the safety and reliability of operations, given the heavy lifting involved and the potential for accidents. Addressing the shortage of skilled operators and maintenance technicians through comprehensive training programs is crucial. Furthermore, managing the logistics of transporting and deploying large wheeled cranes to often remote and challenging project sites can be complex. Complying with evolving safety regulations and environmental standards requires ongoing investment in technology and training. Competing with the large number of unorganized players in the rental market, who often offer lower rates but potentially compromise on safety and maintenance, is a significant challenge for organized players. Finally, adapting to the specific needs and demands of diverse end-use industries and providing tailored solutions requires a deep understanding of their operational requirements.

Wheeled Crane Market: Segmentation Insights

The global wheeled crane market is segmented based on Type, Propulsion, End User, and Region. All the segments of the wheeled crane market have been analyzed based on present & future trends and the market is estimated from 2024 to 2032.

Based on Type, the global wheeled crane market is divided into Truck Cranes, All Terrain Cranes, Rough Terrain Cranes, Loader Cranes, Others.

On the basis of Propulsion, the global wheeled crane market is bifurcated into Engine Powered, Electric Powered, Hybrid Powered.

In terms of End User, the global wheeled crane market is categorized into Construction, Utilities, Industries, Others.

Wheeled Crane Market: Regional Insights

The global wheeled crane market is dominated by the Asia-Pacific (APAC) region, which holds the largest market share due to rapid urbanization, massive infrastructure projects, and booming construction activities. China leads the region, driven by government initiatives like the Belt and Road Initiative (BRI) and extensive investments in transportation and energy infrastructure. India and Southeast Asia also contribute significantly, fueled by smart city developments and industrial expansion.

North America follows, with strong demand in the U.S. for wheeled cranes in oil & gas, utilities, and commercial construction sectors. Europe remains a steady market, led by Germany and the UK, where stringent safety regulations and renewable energy projects sustain demand. In 2023, APAC accounted for ~45% of global sales, North America ~25%, and Europe ~20%, with the Middle East and Africa emerging as growth markets due to large-scale construction projects.

Wheeled Crane Market: Competitive Landscape

The wheeled crane market report offers a thorough analysis of both established and emerging players within the market. It includes a detailed list of key companies, categorized based on the types of products they offer and other relevant factors. The report also highlights the market entry year for each player, providing further context for the research analysis.

The "Global Wheeled Crane Market" study offers valuable insights, focusing on the global market landscape, with an emphasis on major industry players such as;

• Terex Corporation
• Liebherr Group
• Tadano Ltd.
• Manitowoc Company Inc.
• Konecranes Plc.
• Hyundai Heavy Industries Co. Ltd.
• Demag Cranes & Components GmbH
• Elliott Equipment Company
• FURUKAWA UNIC CORPORATION
• XCMG Group
• Sany Group
• Zoomlion Heavy Industry Science and Technology Co. Ltd.
• Kobelco Construction Machinery Co. Ltd.
• Link-Belt Cranes
• Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd.
• Grove Worldwide
• Palfinger AG
• SENNEBOGEN Maschinenfabrik GmbH
• Fassi Gru S.p.A.
• Guay Inc.
• Othersac

The Global Wheeled Crane Market is Segmented as Follows:

By Type

• Truck Cranes
• All Terrain Cranes
• Rough Terrain Cranes
• Loader Cranes
• Others

By Propulsion

• Engine Powered
• Electric Powered
• Hybrid Powered

By End User

• Construction
• Utilities
• Industries
• Others

By Region

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • Kuwait
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America

Market Evolution

This section evaluates the market position of the product or service by examining its development pathway and competitive dynamics. It provides a detailed overview of the product's growth stages, including the early (historical) phase, the mid-stage, and anticipated future advancements influenced by innovation and emerging technologies.

Porter’s Analysis

Porter’s Five Forces framework offers a strategic lens for assessing competitor behavior and the positioning of key players in the wheeled crane industry. This section explores the external factors shaping competitive dynamics and influencing market strategies in the years ahead. The analysis focuses on five critical forces:

• Competitive Rivalry
• Threat of New Entrants
• Threat of Substitutes
• Supplier Bargaining Power
• Buyer Bargaining Power

Value Chain & Market Attractiveness Analysis

The value chain analysis helps businesses optimize operations by mapping the product flow from suppliers to end consumers, identifying opportunities to streamline processes and gain a competitive edge. Segment-wise market attractiveness analysis evaluates key dimensions like product categories, demographics, and regions, assessing growth potential, market size, and profitability. This enables businesses to focus resources on high-potential segments for better ROI and long-term value.

PESTEL Analysis

PESTEL analysis is a powerful tool in market research reports that enhances market understanding by systematically examining the external macro-environmental factors influencing a business or industry. The acronym stands for Political, Economic, Social, Technological, Environmental, and Legal factors. By evaluating these dimensions, PESTEL analysis provides a comprehensive overview of the broader context within which a market operates, helping businesses identify potential opportunities and threats.

• Political factors assess government policies, stability, trade regulations, and political risks that could impact market operations.
• Economic factors examine variables like inflation, exchange rates, economic growth, and consumer spending power to determine market viability.
• Social factors explore cultural trends, demographics, and lifestyle changes that shape consumer behavior and preferences.
• Technological factors evaluate innovation, R&D, and technological advancements affecting product development and operational efficiencies.
• Environmental factors focus on sustainability, climate change impacts, and eco-friendly practices shaping market trends.
• Legal factors address compliance requirements, industry regulations, and intellectual property laws impacting market entry and operations.

Import-export Analysis & Pricing Analysis

An import-export analysis is vital for market research, revealing global trade dynamics, trends, and opportunities. It examines trade volumes, product categories, and regional competitiveness, offering insights into supply chains and market demand. This section also analyzes past and future pricing trends, helping businesses optimize strategies and enabling consumers to assess product value effectively.

Wheeled Crane Market: Company Profiles

The report identifies key players in the wheeled crane market through a competitive landscape and company profiles, evaluating their offerings, financial performance, strategies, and market positioning. It includes a SWOT analysis of the top 3-5 companies, assessing strengths, weaknesses, opportunities, and threats. The competitive landscape highlights rankings, recent activities (mergers, acquisitions, partnerships, product launches), and regional footprints using the Ace matrix. Customization is available to meet client-specific needs.

Regional & Industry Footprint

This section details the geographic reach, sales networks, and market penetration of companies profiled in the wheeled crane report, showcasing their operations and distribution across regions. It analyzes the alignment of companies with specific industry verticals, highlighting the industries they serve and the scope of their products and services within those sectors.

Ace Matrix

This section categorizes companies into four distinct groups—Active, Cutting Edge, Innovator, and Emerging—based on their product and business strategies. The evaluation of product strategy focuses on aspects such as the range and depth of offerings, commitment to innovation, product functionalities, and scalability. Key elements like global reach, sector coverage, strategic acquisitions, and long-term growth plans are considered for business strategy. This analysis provides a detailed view of companies' position within the market and highlights their potential for future growth and development.

Research Methodology

The qualitative and quantitative insights for the wheeled crane market are derived through a multi-faceted research approach, combining input from subject matter experts, primary research, and secondary data sources. Primary research includes gathering critical information via face-to-face or telephonic interviews, surveys, questionnaires, and feedback from industry professionals, key opinion leaders (KOLs), and customers. Regular interviews with industry experts are conducted to deepen the analysis and reinforce the existing data, ensuring a robust and well-rounded market understanding.

Secondary research for this report was carried out by the Market Research Store team, drawing on a variety of authoritative sources, such as:

• Official company websites, annual reports, financial statements, investor presentations, and SEC filings
• Internal and external proprietary databases, as well as relevant patent and regulatory databases
• Government publications, national statistical databases, and industry-specific market reports
• Media coverage, including news articles, press releases, and webcasts about market participants
• Paid industry databases for detailed market insights

Market Research Store conducted in-depth consultations with various key opinion leaders in the industry, including senior executives from top companies and regional leaders from end-user organizations. This effort aimed to gather critical insights on factors such as the market share of dominant brands in specific countries and regions, along with pricing strategies for products and services.

To determine total sales data, the research team conducted primary interviews across multiple countries with influential stakeholders, including:

• Distributors
• Marketing, Brand, and Product Managers
• Procurement and Production Managers
• Sales and Regional Sales Managers, Country Managers
• Technical Specialists
• C-Level Executives

These subject matter experts, with their extensive industry experience, helped validate and refine the findings. For secondary research, data was sourced from a wide range of materials, including online resources, company annual reports, industry publications, research papers, association reports, and government websites. These various sources provide a comprehensive and well-rounded perspective on the market.

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