According to the latest research study by Global Market Insights, Inc, the truck loader crane market is expected to record 9% CAGR during the forecast period 2019-2025.
Selbyville, DE -- (SBWIRE) -- 04/23/2020 -- Robust advancements in the construction, telecommunication and renewable energy sector is expected to offer impetus to truck loader crane market. These cranes are preferred across various industries owing to its offered features like remote controllability, heavy weight lifting capability and increased operational flexibility. New upgrades and advancements in crane models have compelled end users to commence the product's deployment across diverse applications. With its growing significance, According to the research, the truck loader crane market size is anticipated to touch the $ 2.5 billion mark by 2025.
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Big-duty cranes are expected to register a sizable share in the truck loader crane industry. It is increasingly used across the mining, construction, and energy sector for driving weight handling & lifting activities. Especially across the construction sector, these cranes are used for loading & unloading heavy construction materials as well as for transporting light machines.
Deployment of big-duty cranes can eliminate human intervention and provide increased user safety. Rise in number of construction projects and renovation of aged infrastructures across the globe could stimulate the demand for these cranes over the forecast period.
It is vital to mention that the construction sector of Brazil had prior faced a slowdown following an economic recession, leading to weaker infrastructure investments & low construction activities. However, as the industry is steadily recovering, the region is expected to observe new construction projects as well as FDIs
Top Industry Players –
C.P.S. Group S.p.A.,
Iowa Mold Tooling Co., Inc.,
PM Group S.p.A.,
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Reportedly, loader crane firms like Hiab and Tadano are acquiring local companies in Brazil to establish crane manufacturing units and expand their presence in the region. Factors such as these in tandem with improving economic conditions may augment truck loader crane market size in Brazil.
Apart from its vital application in the construction sector, truck loader cranes have also gained traction in the energy industry. These cranes are used for loading & transporting heavy materials across remote locations.
They are especially used to facilitate smooth installation & assemble of large windmills across wind energy farms. Incorporation of truck loader cranes helps workers to carry extremely heavy loads with low risk and errors.
Introduction of technologically advanced cranes that offer features like improved fuel efficiency and low carbon emission have encouraged energy companies to deploy them across power generation applications. Increasing construction of wind energy farms worldwide to lower carbon footprint may also drive the demand for truck loader cranes in the energy sector
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Some of the major contenders in the global truck loader crane market include Hyva Group, Sany Group, Tadano Ltd., Hiab, Manitex, Inc., Palfinger AG, Fassi, Liebherr Group, Terex Corporation, etc. These firms are focusing on designing more application-specific crane models that endorse increased lifting capacities and light weight specifications. Companies are also expanding their business operations across untapped regions to gain an edge over other firms.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.