Truck Loader Crane Market to Hit $2.5bn by 2025: Global Market Insights, Inc.
Truck loader crane market shipments will grow at over 6.5% CAGR during 2019-2025 driven by increasing infrastructure investments worldwide.
SELBYVILLE, Del., February 6, 2019 (Newswire.com) - The Truck Loader Crane Market revenue is expected to grow from USD 1.5 billion in 2018 to USD 2.5 billion by 2025, according to a 2019 Global Market Insights, Inc. report. Increasing infrastructure transformation projects and rapid development of the construction industry across the globe are the major factors driving the truck loader crane market.
Several government institutions in Europe and Asia are working on national infrastructure development plans that account for increased utilization of construction equipment. These cranes are used for efficient loading and unloading of heavy materials and bulky construction materials, eliminating human labor involvement. Due to the increased lifting capacity and longer working radius, these cranes are increasingly utilized across material handling and logistics operations in e-commerce & manufacturing sectors. The remote controllability and mobile accessibility features of new machines aid users to manage and control the material handling operations from different places, further supporting truck loader crane market growth.
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The truck loader crane market is rapidly evolving in several application industries such as construction, mining, material handling, rental, etc., owing to the efficient load handling capacities provided by manufacturers. A major factor hindering the truck loader crane market is the lack of skilled operators for handling the machine operations. To overcome these problems, manufacturers are also providing operator training courses that include guidance related to machine handling & weight lifting parameters.
In the truck loader crane market, medium-duty machines will witness high demand of around 11% as compared to other capacity cranes owing to their weightlifting capacity and performance in both small and medium-range operations. These cranes are being utilized in workshops, warehouses, and transportation sites with the requirement to handle weight under 20 tons. The growing popularity of these machines is attributed to benefits such as installation & operational convenience over conventional cranes and the replacement of human workers in lifting tasks. Additionally, crane manufacturers are providing efficient training courses that include correct handling methods, lifting appropriate weights, attachments, etc., aiding in fueling truck loader crane market growth.
Browse key industry insights spread across 240 pages with 223 market data tables & 26 figures & charts from the report, “Truck Loader Crane Market By Product (Small-Duty [Up to 6 Metric Tons], Medium-duty [7 to 20 Metric Tons], Big-Duty [21 to 80 Metric Tons], Heavy-Duty [Above 80 Metric Tons]), By End-Use (Rental, Construction, Mining, Oil & Gas, Energy) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, China, India, Japan, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa), Growth Potential, Competitive Market Share & Forecast, 2019 - 2025” in detail along with the table of contents:
Construction sector valued at over USD 550 million in 2018 in the truck loader crane market is experiencing high traction due to the efficiency and time-saving benefits offered in loading, unloading, and material handling operations. The demand is added up by the growing infrastructure development and new residential & commercial projects in countries including China, Brazil, Germany, etc. Moreover, high government funding and investments for developing the national public infrastructure are contributing to the industry’s expansion. Technical innovations and rise in the product availability from manufacturers across the untapped regions are also supporting the machinery deployment by local construction companies. The companies are also investing in R&D activities to develop cranes with technical features such as IoT compatibility and construction application-specific machines with high lifting capacities.
High investments in the industrial sector and several ongoing construction projects under "One Belt, One Road" initiative in China account for truck loader crane market growth prospects. The government plans to increase the infrastructure investment for protecting the country’s economy and sustainable development initiatives across the application industries, adding to the machinery consumption. However, due to the slowdown in infrastructure investments, the machinery demand is expected to fall in the coming years, and a steady demand is expected in the ongoing projects.
The developing Chinese material handling sector, owing to robust e-commerce and manufacturing sectors, has created a requirement for such cranes for efficient loading & unloading operations and warehouse management techniques. Owing to the increasing demand for Chinese products from other regions, the export & shipping activities have also increased, further deploying truck loader crane market products in material lifting operations.
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The manufacturers adopt several product development and innovation strategies to differentiate their offerings. The regional expansion and continuous mergers & acquisitions with smaller local players are a prevailing trend among leading manufacturers in the truck loader crane market.
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About Global Market Insights
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.
Source: Global Market Insights, Inc.