Truck loader crane is a machine mounted on a truck body that has loading-unloading mechanism, with a rotating cantilevered boom. These cranes have fixed telescopic boom, operating machinery, rotating superstructure either center post or turntable, and operator stations. These are mounted or frame attached on a commercial truck’s chassis, supporting the payload hauling capabilities.
The truck loader crane market is witnessing rapid evolution owing to the increase in adoption of these machines in mining, construction, oil & gas, and energy sectors. Led by the rise in infrastructure transforming activities, several construction equipment, including cranes, are gaining demand across the globe, as construction companies need this equipment to perform efficient loading and unloading operations. Rise in smaller industry applications such as shipping, material handling, and transportation is also boosting the need for loader cranes to perform unloading and loading applications.
Lack of skilled operators and low awareness about the adoption of these products are major factors hindering the global tuck loader crane market. In order to overcome these issues, crane manufacturers are providing operator training courses related to weight lifting parameters and machine handling. Mobile movements of these cranes provides better alternative to stationary cranes. This is estimated to create opportunities for the truck loader crane market from 2019 to 2027.
The global truck loader crane market can be segmented based on product and end-use. In terms of product, the global truck loader crane market can be classified into small duty, medium duty, big duty, and heavy duty. Based on end-use, the global truck loader crane market can be divided into construction, rental, mining, oil & gas, and energy.
Smaller-duty models are gaining high popularity in the truck loader crane market, as they possess quicker turnaround time for lifting capacity features in applications such as general material loading and material handling in various end-use industries. These cranes are used at various sites for lifting & moving cables, tires, and various other material handling capabilities. Demand for smaller-capacity cranes is higher, as they can be easily installed on medium or small sized trucks. These cranes are in high demand in rental channels owing to requirements of various customers working on smaller projects such as material handling at warehouses and residential construction.
Heavy duty truck mounted cranes are being increasingly used in the heavier material handling operations for lifting and transportation. For instance, these are employed in rescue operations during natural calamities and complicated installation tasks. This is expected to drive the segment during the forecast period.
Based on region, the global truck loader crane market can be classified into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific accounted for major share of the truck loader crane market in 2018. This trend is anticipated to continue during the forecast period. High investments in the industrial sector and other ongoing projects under the ‘One Belt, One Road’ initiative in China is driving the truck loader crane market in the country. The Government of China is planning to increase infrastructure investment for sustainable development across various end-use industries. Development of the material handling sector in China can be ascribed to the growth in manufacturing and e-commerce industries. This has created numerous requirements for such cranes for efficient unloading and loading operations and other warehouse management techniques.
Key players operating in the global truck loader crane market are Palfinger AG, Fassi, Tadano Ltd, Hiab, Manitex, Terex Corporation, XCMG, Sany Group, and Hyva Group. Manufacturers are adopting several innovation and product development strategies in order to differentiate their offerings. They are also focused on regional expansion and mergers & acquisition strategies with smaller local players.
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