Telescopic Crane Market Size - By Product (Truck-mounted, Rough Terrain, All-terrain, Crawler), By Lifting Capacity (Up to 20 Tons, 21 to 50 Tons, 51 to 100 tons, Above 100 Tons), By Operation Mode, By Application, By End Use & Forecast, 2024 – 2032

Telescopic Crane Market Size - By Product (Truck-mounted, Rough Terrain, All-terrain, Crawler), By Lifting Capacity (Up to 20 Tons, 21 to 50 Tons, 51 to 100 tons, Above 100 Tons), By Operation Mode, By Application, By End Use & Forecast, 2024 – 2032

Telescopic Crane Market Size

Telescopic Crane Market was valued at USD 5.8 billion in 2023 and is estimated to register a CAGR of over 5.5% between 2024 and 2032, propelled by increasing construction and infrastructure development activities worldwide. With rising urbanization rates and a surge in infrastructure projects, such as building construction, roadways, bridges, and utilities, the demand for telescopic cranes for lifting heavy materials and equipment is escalating.

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The demand for telescopic cranes is fueled by infrastructure projects including building roads, bridges, ports, and railroads. These projects require heavy lifting skills to complete activities such as installing steel beams, concrete segments, and other materials. Telescopic cranes are used for effective material handling and construction processes, driven by rapid urbanization, especially in emerging regions where there is a greater need for residential and commercial building construction. Moreover, the infrastructure projects often requires substantial amount of maintenance and repair services. These requirements of the infrastructure projects is expected to propel the demand for telescopic crane.

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Using telescopic cranes are subject to risks, such as the possibility of mishaps, injuries, and fatalities. To reduce these hazards, operators must receive the necessary training, follow safety procedures, and implement strict maintenance schedules. Skilled operators are required to utilize telescopic cranes safely and efficiently as the telescoping nature of the boom makes operation difficult. As a result, operators need to have a comprehensive understanding of the equipment and its limitations.

Telescopic crane operations may encounter difficulties due to uneven terrain, restricted space, overhead impediments, and unfavorable meteorological conditions. To guarantee safe and effective crane operation, site-specific dangers must be identified and addressed.

Telescopic Crane Market Trends

The electrification of telescopic cranes is substantially fueling market growth. With heightened environmental concerns and a shift toward sustainable practices, electric cranes offer cleaner operations and reduced emissions. Additionally, they provide enhanced efficiency and lower operational costs over their lifespan. Moreover, regulatory incentives and increasing adoption of green technologies further boost demand. As a result, the electrification trend is driving lucrative expansion in the telescopic crane market, promising significant opportunities for manufacturers and stakeholders.

The proliferation of autonomous technology is significantly driving demand for telescopic crane. Autonomous features such as remote operation, semi-autonomous controls, and advanced safety systems enhance operational efficiency, reduce the need for skilled labor, and improve job site safety. Additionally, autonomous technology enables precise positioning and lifting tasks, increasing productivity and minimizing downtime. As industries increasingly embrace automation for efficiency gains and safety enhancements, the demand for telescopic cranes equipped with autonomous capabilities continues to rise.

Telescopic Crane Market Analysis

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Based on product, the truck-mounted telescopic cranes segment was worth over USD 1.8 billion in 2023. The introduction of high-quality telescopic cranes for diverse applications is boosting segment growth. These advanced cranes offer superior performance, increased versatility, and enhanced efficiency, catering to a wide range of industry needs. For instance, in April 2024, Manitex International, Inc., a prominent global supplier of truck cranes, specialized industrial equipment, and rental solutions for construction and infrastructure sectors, has revealed the initial shipments of its newly introduced PM 70.5 SP articulated truck mounted crane. This new 65 series of articulated cranes offer versatile applications tailored for the worldwide market.   

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Based on operation mode, the hydraulic telescopic cranes segment is anticipated to register a CAGR of over 5% from 2024 to 2032. Hydraulic telescopic cranes are favored for their versatility and efficiency in various lifting tasks across industries. With their ability to adjust reach, height, and capacity, they can accommodate diverse job requirements. Moreover, their efficient operation enables rapid setup and lifting, streamlining productivity, and minimizing downtime on job sites. These cranes offer a dynamic solution for a wide range of applications, from construction projects to oil & gas operations, where quick and precise lifting capabilities are essential for project success.

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Asia Pacific region dominated the 35% share of the telescopic crane market in 2023, propelled by rapid urbanization and industrial expansion. As urban centers expand across the region, there is a heightened demand for construction and infrastructure development, necessitating the use of telescopic cranes for lifting heavy materials and equipment. Simultaneously, the rising industrial sector, encompassing manufacturing, energy, and logistics, requires efficient lifting solutions, further boosting the market.

The demand for smooth and precise control of boom functions is driving growth in the U.S. telescopic crane market. With increasing emphasis on operational efficiency and safety, advanced control systems enable operators to perform intricate lifting tasks with accuracy, enhancing productivity and minimizing risks, thereby fueling market expansion.

Infrastructure development projects, including road construction and urban redevelopment, are driving demand for telescopic cranes in Europe. These projects require efficient lifting solutions for heavy materials and equipment. Telescopic cranes offer the versatility and capacity needed to support these initiatives, fueling their uptake in the European market.

In line with the UAE's ambitious urban development plans, such as the Dubai Plan 2040 and the Abu Dhabi Economic Vision 2030, numerous mega-projects involving the construction of smart cities, transportation networks, and residential and commercial complexes are underway, generating substantial demand for telescopic cranes.

Telescopic Crane Market Share

Liebherr, Manitowoc, and Terex held significant market share of over 50% market share in 2023. These major players focus on innovation in crane technology, such as incorporating automation, digitalization, and safety features into their jib crane offerings. Liebherr's strategy focuses on innovation, offering advanced telescopic cranes with enhanced load capacities and reach. Moreover, Liebherr's strategy in the telescopic crane market involves investing in unique chassis designs featuring specialized axle arrangements and optimized axle loads, enhancing stability and maneuverability for improved crane performance.

Terex Corporation emphasizes cost-effective solutions and a diverse product lineup to cater to various construction segments. Also, Terex Corporation aims to expand its presence in the telescopic crane business by introducing the Franna brand of mobile pick and carry cranes in India, targeting increased market share and regional growth. Both companies leverage their global presence and strive to expand their market share through strategic acquisitions and partnerships.

Telescopic Crane Market Companies

Major players operating in the telescopic crane industry are

• Furukawa UNIC Corporation
• Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.
• Kobelco Construction Machinery Co., Ltd.
• Liebherr-International AG
• Manitex International, Inc.
• Sany Group Co., Ltd.
• Tadano Ltd.
• Terex Corporation
• The Manitowoc Company, Inc.
• Xuzhou Construction Machinery Group Co., Ltd. (XCMG)
• Zoomlion Heavy Industry Science and Technology Co., Ltd.

Telescopic Crane Industry News

• In January 2024, Kobelco Construction Machinery unveiled the TKE750G, a novel telescopic boom crawler crane engineered for the European market, featuring a 75 metric tonne lifting capacity. Based on the technology of the G series lattice boom crawler crane models, it ensures reliability, efficiency, and user-friendly operation, while maintaining durability and consistency across the lineup.
• In September 2023, Elliott Equipment introduced the D47 digger derrick, tailored for distribution tasks. With a 26,000-lb. lifting capacity and a 17- to 26-ft. digging radius, it tackles challenging areas. Key features include 46 kV insulation, independent boom operation, transferable pole guide, and a rear-mounted hydraulic tool circuit, ensuring versatile functionality for various lifting and material handling operations.

This telescopic crane market research report includes in-depth coverage of the industry with estimates & forecasts in terms of revenue (USD Billion), and volume (Units) from 2021 to 2032, for the following segments

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Market, By Product

• Truck-mounted telescopic cranes
• Rough terrain telescopic cranes
• All-terrain telescopic cranes
• Crawler telescopic cranes

Market, By Lifting Capacity

• Up to 20 tons
• 21 to 50 tons
• 51 to 100 tons
• Above 100 tons

Market, By Operation Mode

• Hydraulic telescopic cranes
• Electric telescopic cranes

Market, By Application

• Cargo loading/unloading
• Steel structure erection
• Heavy equipment lifting
• Prefabricated component assembly

Market, By End Use

• Construction
• Manufacturing
• Oil & gas
• Mining
• Shipbuilding
• Utilities
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Russia
  • Belgium
  • Sweden
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Indonesia
  • Thailand
  • Vietnam
  • Rest of Asia Pacific 
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Rest of Latin America
• MEA
  • UAE
  • Saudi Arabia
  • South Africa
  • Iran
  • Turkey
  • Rest of MEA