Certified Global Research Member
Key Questions Answered
- Global Market Outlook
- In-depth analysis of global and regional trends
- Analyze and identify the major players in the market, their market share, key developments, etc.
- To understand the capability of the major players based on products offered, financials, and strategies.
- Identify disrupting products, companies, and trends.
- To identify opportunities in the market.
- Analyze the key challenges in the market.
- Analyze the regional penetration of players, products, and services in the market.
- Comparison of major players’ financial performance.
- Evaluate strategies adopted by major players.
- Recommendations
Why Choose Market Research Future?
- Vigorous research methodologies for specific market.
- Knowledge partners across the globe
- Large network of partner consultants.
- Ever-increasing/ Escalating data base with quarterly monitoring of various markets
- Trusted by fortune 500 companies/startups/ universities/organizations
- Large database of 5000+ markets reports.
- Effective and prompt pre- and post-sales support.
The All-Terrain Cranes Market is influenced by various factors that contribute to its dynamics and growth. A key driver is the increasing demand for versatile and mobile lifting solutions in construction, infrastructure development, and various industrial applications. All-terrain cranes are designed to operate on rough and uneven terrains, providing the flexibility to lift and maneuver heavy loads in diverse work environments. The growing need for efficient and adaptable lifting equipment propels the demand for all-terrain cranes globally.
The general construction and transportation sector are growing. In this view, the market in the emerging economies must contribute significantly due to the growth of construction and retrofit. In America alone, USD 4 trillion will be required for maintaining old structures. Similarly, on a global basis, investments in infrastructure have increased which is expected to propel all-terrain cranes market growth.
Raw material availability and pricing play a crucial role in the all-terrain cranes market. The primary materials for manufacturing cranes include high-strength steel, aluminum, and various components such as hydraulic systems and electronics. Fluctuations in the prices of these raw materials, influenced by factors such as steel tariffs, market demand, and supply chain dynamics, can impact the overall production cost of all-terrain cranes. Ensuring a stable and cost-effective supply of high-quality raw materials is essential for manufacturers to maintain competitiveness in the market.
Technological advancements in all-terrain crane design and control systems contribute to market growth. Innovations in crane construction, control interfaces, and safety features lead to the development of cranes with improved efficiency, precision, and safety standards. Continuous research and development in the industry drive advancements, expanding the applications of all-terrain cranes in various sectors and influencing the market's expansion.
End-user industries significantly influence the demand for all-terrain cranes. The construction and infrastructure sectors are major consumers, utilizing cranes for tasks such as lifting heavy construction materials, placing precast components, and facilitating high-rise building projects. Industries such as oil and gas, mining, and utilities also contribute to the market as they require mobile lifting solutions for their operations. Companies in the all-terrain crane sector need to understand the specific requirements of these end-user industries to tailor their products accordingly and meet market demands.
Global economic conditions and trade policies also play a role in shaping the all-terrain cranes market. Changes in international trade agreements, tariffs, and geopolitical factors can impact the supply chain, affecting both producers and consumers. Companies in the market must navigate these global economic dynamics to ensure stability in their operations and explore new opportunities in emerging markets.
Environmental considerations and emissions standards are gaining importance in the all-terrain cranes market. As awareness of environmental issues grows, there is an increasing emphasis on equipment with reduced emissions and improved fuel efficiency. All-terrain cranes that incorporate advanced engine technologies and meet stringent emission standards align well with sustainability goals. Companies adopting green manufacturing practices and promoting the environmental benefits of their all-terrain cranes can gain a competitive edge.
Consumer preferences for safety, ease of operation, and advanced features influence the all-terrain cranes market. Construction companies and crane operators seek equipment that not only complies with safety standards but also offers user-friendly controls and advanced features such as telescopic booms and computerized load monitoring. All-terrain cranes with modern operator interfaces and safety technologies cater to these preferences. Companies that prioritize innovation and customer-centric designs can attract a broader customer base.
Weather conditions and terrain challenges may impact the all-terrain cranes market, as these cranes are designed to operate in varying environmental conditions. From construction sites in urban areas to remote and rugged terrains, all-terrain cranes need to provide reliable performance under diverse circumstances. Companies need to ensure that their all-terrain cranes are robustly engineered to handle different weather conditions and challenging terrains.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 15.68 billion |
| Growth Rate | 3.39% (2024-2032) |
All terrain Cranes Market Highlights:
Global All-terrain Cranes Market Overview
All-terrain Cranes Market Size was valued at USD 15.68 billion in 2023. The All-terrain Cranes industry is projected to grow from USD 16.38 Billion in 2024 to USD 22.29 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.93% during the forecast period (2024 - 2032). Increased repair and rehabilitation of existing infrastructure and power grids and Increase in construction activities and industrialization are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
All-terrain Cranes Market Trends
-
The incorporation of sophisticated telematics systems is driving the market growth.
Buyers of rough terrain cranes need machinery with improved automation and diagnostics. Such specialized customer requests have improved the product quality of manufacturers owing to research & development (R&D) and product innovation in sophisticated telematics systems. The addition of modern, cutting-edge components to the operator's cabin has made the life of operators considerably easier and enabled them to operate in various challenging weather conditions. Furthermore, owing to the introduction of new high-strength steel, which can withstand soaring and extremely high temperatures, demand for rough terrain cranes may witness a boost in the MEA region since rugged axles and machine superstructures manufactured by advanced machines can withstand high load conditions. This factor drives the market CAGR.
In the construction sector, rough terrain cranes are widely utilized to increase the productivity of operations, including lifting, loading, and transporting. The need for rough terrain cranes in building and construction operations is predicted to increase as urbanization grows and leads to new development activities. Furthermore, on the front, the upgradation, repair, and rehabilitation of sectors like infrastructure, power griding systems, and distribution networks are estimated as the major drivers. The automotive market has witnessed significant technological advancements. As a result, several companies have introduced technologically advanced all-terrain cranes to the market. The construction industry operates within a highly competitive landscape, driving crane rental rates. This, in turn, creates substantial growth opportunities for firms to expand their revenue streams and contribute to the overall growth of the all-terrain cranes market. The continuous technological advancements in the commercial vehicle sector will improve operational efficiencies and cost-effectiveness, empowering companies to strengthen their market presence in the all-terrain crane industry. Thus, driving the All-terrain Cranes market revenue.
All-terrain Cranes Market Segment Insights
All-terrain Cranes Type Insights
Based on type, the All-terrain Cranes market segmentation includes Less than 200 Tons, 200 to 500 Tons, and More than 500 Tons. The less than 200-tons segment dominated the market due to the significant demand for cranes with smaller lifting capacities in industries requiring lighter loads. These include construction projects for residential buildings, smaller infrastructure works, and maintenance activities. The agility and flexibility of these cranes make them well-suited for such applications. Furthermore, the cost factor is crucial, as all-terrain cranes with capacities below 200 tons are generally more affordable than larger ones. This makes them a preferred choice for smaller businesses and contractors with limited budgets.
All-terrain Cranes Application Insights
Based on Application, the All-terrain Cranes market segmentation includes construction, industries, and utilities. The dominance of the construction segment in the all-terrain cranes market can be attributed to the significant lifting requirements within the industry, the widespread growth of construction activities on a scale, and the continuous advancements in technology. These technological advancements have resulted in increasingly capable and efficient cranes for various construction applications. As a result, the construction sector remains a key driver of demand for all-terrain cranes, given its substantial lifting needs and the ongoing development and expansion of construction projects worldwide.
Figure1: Global All-terrain Cranes Market, by Application 2022&2032 (USD billion)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
All-terrain Cranes Regional Insights
By Region, the study provides market insights into North America, Europe, Asia-Pacific, and Rest of the World. The North American All-terrain Cranes market area will dominate this market, owing to Steady development in commercial and residential infrastructure will boost the market growth in this Region.
Further, the major countries studied in the market report are The U.S., Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: GLOBAL ALL-TERRAIN CRANES MARKET SHARE BY REGION 2022 (%)
Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review
Europe's All-terrain Cranes market accounts for the second-largest market share due to the increasing gradation, repair, and refurbishing of existing infrastructure, power grids, and distribution networks. Further, the German All-terrain Cranes market held the largest market share, and European Region, the UK has experienced the highest growth rate in the all-terrain cranes market. Due to increasing construction activities, infrastructure development projects, and the demand for technologically advanced cranes. The UK's fast-growing market indicates a strong demand for all-terrain cranes, driven by the need for efficient lifting solutions in construction and other industries.
The Asia-Pacific All-terrain Cranes Market is expected to grow fastest from 2023 to 2032. This is due to rising spending capacity and funding schemes for infrastructure development projects, ongoing industrialization trends, and construction activities in the Region. Moreover, China’s All-terrain Cranes market held the largest market share, and the Indian All-terrain Cranes market was the fastest-growing market in the Asia-Pacific region.
All-terrain Cranes Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development to expand their product lines, which will help the All-terrain Cranes market grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. The All-terrain Cranes industry must offer cost-effective items to expand and survive in a more competitive and rising market climate.
Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the All-terrain Cranes industry to benefit clients and increase the market sector. The All-terrain Cranes industry has offered some of the most significant advantages in recent years. Major players in the All-terrain Cranes market, Market leaders in the all-terrain crane industry, such as Liebherr Group, The Manitowoc Company, Terex Corporation, Tadano Ltd., Xuzhou Construction Machinery Group, KATO WORKS CO., LTD, Elliott Equipment Company, Manitex International Inc., SANY GROUP, and Altec Industries, among others, are actively investing in research and development activities to stimulate market growth. By focusing on innovation, these companies aim to enhance their product offerings and meet customers' evolving demands. Their strategic R&D investments reflect their commitment to staying at the forefront of technological advancements in the all-terrain cranes market, ensuring they can effectively cater to the increasing market demand.
The Manitowoc Company, Inc., established in 1902, is a renowned provider of mobile telescopic cranes, tower cranes, and lattice-boom crawlers. Manitowoc has recently expanded its product portfolio in the Grove truck crane segment by introducing the innovative four-axle TTS9000-2. This new crane model features all-wheel steering and a remarkably long boom; all mounted on a lightweight carrier. The enhanced design of the TTS9000-2 results from Manitowoc's Voice of the Customer process, which leverages valuable consumer insights to drive improvements in engineering and product development. By incorporating customer feedback, Manitowoc ensures that its crane solutions align with its client's specific needs and preferences.
Liebherr, a multinational equipment manufacturer with German-Swiss roots, is headquartered in Bulle, Switzerland. It has a strong manufacturing presence in Germany. Recently, Liebherr introduced its latest innovation, the LTM 1120-4.1, which is its most powerful four-axle all-terrain crane. This impressive crane is scheduled for delivery in January 2021, showcasing Liebherr's commitment to providing advanced and high-performance solutions to the market.
Key CompaniesIn The All-terrain Cranes Market Include
- Liebherr Group (Switzerland)
- The Manitowoc Company Inc. (U.S.)
- Terex Corporation (U.S.)
- Tadano Ltd. (Japan)
- Xuzhou Construction Machinery Group Co.Ltd. (China)
All-terrain Cranes Industry Developments
May 2022: Manitowoc introduced the TTS9000-2, a new four-axle truck crane under its Grove brand. This crane stands out with its all-wheel steering and a lightweight carrier that supports an exceptionally long boom. This crane's design enhancements result from Manitowoc's Voice of the Customer process, which leverages valuable consumer insights to drive improvements in engineering and product development.
July 2020: XCMG launched 750 tonne XCA750 eight-axle all-terrain crane. This crane comes with a seven-section 92-meter main boom, topped by a heavy-duty hydraulically erected wind turbine extension specifically designed for wind turbine repair and maintenance work.
January 2021: Liebherr launched LTM 1120-4.1, its most powerful four-axle all-terrain crane.
All-terrain Cranes Market Segmentation
All-terrain Cranes Type Outlook
- Less than 200 Ton
- 200 to 500 Ton
- More than 500 Ton
All-terrain Cranes Application Outlook
- Construction
- Industries
- Utilities
All-terrain Cranes Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
Leading companies partner with us for data-driven Insights
Kindly complete the form below to receive a free sample of this Report
Tailored for You
- Dedicated Research on any specifics segment or region.
- Focused Research on specific players in the market.
- Custom Report based only on your requirements.
- Flexibility to add or subtract any chapter in the study.
- Historic data from 2014 and forecasts outlook till 2040.
- Flexibility of providing data/insights in formats (PDF, PPT, Excel).
- Provide cross segmentation in applicable scenario/markets.
