Los Angeles, CA -- (SBWIRE) -- 09/20/2019 -- The recently published report by QY Research, titled "Global Truck Loader Cranes Market Report, History and Forecast 2014-2025", has offers unique insights about the market. The report has also covered the significant aspects that are contributing to the growth of the market. The main objective of this report is to highlight several market dynamics such as drivers, trends, and restraints.
According to the report, the global truck loader cranes market is likely to reach US$3.42 bn by 2025 from US$2.51 bn in 2018. The market is expected to register a CAGR of 4.3% between 2019 and 2025.
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Global Truck Loader Cranes Market: Trends and Opportunities
The global market for truck loader cranes will witness significant growth to escalating adoption of machines in the construction, energy, mining, and oil & gas sector. The market is led by increasing construction projects and infrastructural activities. Cranes are gaining a high demand across the world, as construction companies require them to perform efficient unloading and loading operations. Rising smaller industrial applications such as transportation, shipping, and material handling are also boosting the need for truck loader cranes to perform unloading and loading operations.
In addition, the improving lifting capacity and longer working hours have given the truck loading cranes an increasing importance in the material handling and logistics operations. Emergence of manufacturing and e-commerce sectors are thus expected to give this market an impetus. Moreover, the mobile accessibility and remote controllability features of new machines aid users to control and manage material handling operations with exceptional efficiency, which is creating a positive influence on the overall market.
Global Truck Loader Cranes Market: Regional Analysis
Asia Pacific will witness significant growth in the truck loader cranes market due to the growing construction and infrastructure activities in emerging economies such as China and India. Europe is also expected to drive the growth in the truck loader cranes market because of increasing supply chain and logistics and also growing e-commerce industry in this region.
Global Truck Loader Cranes Market: Segment Analysis
The market is segmented into application and product type. The product type segment includes Over 600 kNm, 251 to 400 kNm, 50 to 150 kNm, Less Than 50 kNm, 401 to 600 kNm, and 151 to 250 kNm. The application segment includes forestry & agriculture, construction, industrial, and others.
Global Truck Loader Cranes Market: Key Players
The leading manufacturers that are operating in the global market for truck loader cranes are Zoomlion, Cargotec (Hiab), Action Construction Equipment, Palfinger, Hyva Crane, XCMG, Manitex, Furukawa, Fassi Crane, and Tadano.
Global Truck Loader Cranes Market: Competitive Landscape
In August 2017, the Hiab announced its acquisition with Argos Guindastes Indústria e Comércio, a manufacturer of crane loader in Brazil. This acquisition has been made to make a strong entry in the Brazilian market. It will also establish a foundation of a crane business in this region. Companies are adopting the strategies of research and development activities and merger and acquisitions strategies to remain competitive and also attain a higher revenue.
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