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

Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format

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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.

Telescopic Crane Market Report Attributes
Report Attribute Details
Base Year 2023
Telescopic Crane Market Size in 2023 USD 5.8 Billion
Forecast Period 2024 – 2032
Forecast Period 2024 – 2032 CAGR 5.5%
2024 – 2032 Value Projection USD 9.7 Billion
Historical Data for 2021 – 2023
No. of Pages 280
Tables, Charts & Figures 360
Segments covered Product, Load Capacity, Operation Mode, Distribution Channel, Application, End Use
Growth Drivers
  • Rising construction industry growth across the globe
  • Growing infrastructure development in developing countries
  • High government investments in industrial sector
  • Rising crane rental services offered by OEMs
Pitfalls & Challenges
  • Operational complexity of telescopic cranes
  • High initial cost of purchasing telescopic cranes

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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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Over $1.8 billion worth of truck-mounted telescopic cranes were sold worldwide in 2023. The industry is booming because better telescopic cranes are being made for different uses. These new cranes are better, more flexible, and more efficient, which makes them useful in many industries. For example, Manitex International, Inc. is a global leader in building and renting cranes and specialized industrial equipment for the construction and infrastructure industries. In April 2024, they began shipping their new PM 70.5 SP articulated truck-mounted crane. This new 65 series of articulated cranes is made to handle a variety of tasks all over the world.

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IMAGINE THISGiants of construction and industry, meet the hydraulic telescopic cranes – workhorses that can adjust to any task like a Swiss army knife! They're not just strong, they're super adaptable. Need to reach far? Extend them. Get a bird's eye view? Elevate them. Lift heavy loads? No sweat! But that's not all. These cranes are lightning-fast. Set up and get lifting in a flash, saving you time and headaches on the job. And because they're so efficient, they keep your projects moving, minimizing any downtime and maximizing productivity. So, whether you're building skyscrapers or drilling for oil, these cranes are your go-to for precise and powerful lifting. They're the secret weapon that keeps your projects on track and your profits soaring!

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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

 

 

Table of Content

Report Content

Chapter 1   Methodology & Scope

1.1    Research design

1.1.1    Research approach

1.1.2    Data collection methods

1.2    Base estimates and calculations

1.2.1    Base year calculation

1.2.2    Key trends for market estimates

1.3    Forecast model

1.4    Primary research & validation

1.4.1    Primary sources

1.4.2    Data mining sources

1.5    Market definitions

Chapter 2   Executive Summary

2.1    Industry 3600 synopsis, 2021-2032

Chapter 3   Industry Insights

3.1    Industry ecosystem analysis

3.2    Supplier landscape

3.2.1    Raw material suppliers

3.2.2    Component provider

3.2.3    Technology provider

3.2.4    Manufacturers

3.2.5    Distributors

3.2.6    End users

3.3    Profit margin analysis

3.4    Technology & innovation landscape

3.5    Patent analysis

3.6    Key news & initiatives

3.6.1    Partnership/collaboration

3.6.2    Merger/acquisition

3.6.3    Investment

3.6.4    Product launch and innovation

3.7    Regulatory landscape

3.8    Impact forces

3.8.1    Growth drivers

3.8.1.1   Rising construction industry growth across the globe

3.8.1.2   Growing infrastructure development in developing countries

3.8.1.3   High government investments in industrial sector

3.8.1.4   Rising crane rental services offered by OEMs

3.9    Industry pitfalls & challenges

3.9.1.1   Operational complexity of telescopic cranes

3.9.1.2   High initial cost of purchasing telescopic cranes

3.10    Growth potential analysis

3.11    Porter’s analysis

3.12    PESTEL analysis

Chapter 4   Competitive Landscape, 2023

4.1    Introduction

4.2    Company market share analysis

4.3    Competitive positioning matrix

4.4    Strategic outlook matrix

Chapter 5   Market Estimates & Forecast, By Product, 2021-2032 ($Bn, Units)

5.1    Key trends

5.2    Truck-mounted telescopic cranes

5.3    Rough terrain telescopic cranes

5.4    All-terrain telescopic cranes

5.5    Crawler telescopic cranes

Chapter 6   Market Estimate & Forecast, By Lifting Capacity, 2021-2032 ($Bn, Units)

6.1    Key trends

6.2    Up to 20 tons

6.3    21 to 50 tons

6.4    51 to 100 tons

6.5    Above 100 tons

Chapter 7   Market Estimate & Forecast, By Operation Mode, 2021-2032 ($Bn, Units)

7.1    Key trends

7.2    Hydraulic telescopic cranes

7.3    Electric telescopic cranes

Chapter 8   Market Estimate & Forecast, By Application, 2021-2032 ($Bn, Units)

8.1    Key trends

8.2    Cargo loading/unloading

8.3    Steel structure erection

8.4    Heavy equipment lifting

8.5    Prefabricated component assembly

Chapter 9   Market Estimate & Forecast, By End Use, 2021-2032 ($Bn, Units)

9.1    Key trends

9.2    Construction

9.3    Manufacturing

9.4    Oil & gas

9.5    Mining

9.6    Shipbuilding

9.7    Utilities

9.8    Others

Chapter 10   Market Estimates & Forecast, By Region, 2021-2032 ($Bn, Units)

10.1    Key trends

10.2    North America

10.2.1    U.S.

10.2.2    Canada

10.3    Europe

10.3.1    UK

10.3.2    Germany

10.3.3    France

10.3.4    Italy

10.3.5    Russia

10.3.6    Belgium

10.3.7    Sweden

10.3.8    Rest of Europe

10.4    Asia Pacific

10.4.1    China

10.4.2    India

10.4.3    Japan

10.4.4    South Korea

10.4.5    Indonesia

10.4.6    Thailand

10.4.7    Vietnam

10.4.8    Rest of Asia Pacific

10.5    Latin America

10.5.1    Brazil

10.5.2    Mexico

10.5.3    Argentina

10.5.4    Rest of Latin America

10.6    MEA

10.6.1    South Africa

10.6.2    UAE

10.6.3    Saudi Arabia

10.6.4    Iran

10.6.5    Turkey

10.6.6    Rest of MEA

Chapter 11   Company Profiles

11.1    Altec Industries, Inc.

11.2    Böcker Maschinenwerke GmbH

11.3    Broderson Manufacturing Corp.

11.4    Elliott Equipment Company

11.5    Furukawa UNIC Corporation

11.6    Grove Worldwide LLC

11.7    Hitachi Sumitomo Heavy Industries Construction Crane Co., Ltd.

11.8    Jekko s.r.l.

11.9    Kato Works Co., Ltd.

11.10    Kobelco Construction Machinery Co., Ltd.

11.11    Liebherr-International AG

11.12    Link-Belt Construction Equipment Company

11.13    Locatelli Crane S.r.l.

11.14    Manitex International, Inc.

11.15    Sany Group Co., Ltd.

11.16    Tadano Ltd.

11.17    Terex Corporation

11.18    The Manitowoc Company, Inc.

11.19    Xuzhou Construction Machinery Group Co., Ltd. (XCMG)

11.20    Zoomlion Heavy Industry Science and Technology Co., Ltd.

  • 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.

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