Truck Mounted Knuckle Boom Crane Unlocking Growth Potential: Analysis and Forecasts 2025-2033

Key Insights

The global truck-mounted knuckle boom crane market was valued at USD XXX million in 2025 and is projected to reach USD XXX million by 2033, exhibiting a CAGR of XX% during the forecast period. The growing demand for cranes in construction and infrastructure development activities is a primary factor driving the market expansion. Additionally, the rising adoption of truck-mounted cranes due to their mobility and versatility in various industrial applications, including mining, transportation, and maintenance, is contributing to market growth.

The truck-mounted knuckle boom crane market is segmented based on type, application, and region. Small duty, medium duty, big duty, and heavy duty are the different types of cranes available. The construction and mining industries are the most common applications for truck-mounted knuckle boom cranes. The market is further segmented into regions, including North America, Europe, Asia Pacific, South America, and the Middle East & Africa. Key players operating in the market include Action Construction Equipment, Altech Industries, Furukawa, Hydrauliska Industri AB, Hyva, Kawasaki Heavy Industries, Kobelco Construction Machinery Co. Ltd., Manitowoc, Palfinger AG, Tadano Limited, Terex Corporation, TIL Limited, SANY Group, Xuzhou Construction Machinery Group, Zoomlion Heavy Industry Science & Technology.

Truck Mounted Knuckle Boom Crane Trends

The global truck mounted knuckle boom crane market is projected to reach USD 10.4 billion by 2028 from USD 7.8 billion in 2021, at a CAGR of 4.2% during the forecast period. The growth of the market is attributed to the rising demand for construction and infrastructure development, increasing urbanization, and growing investment in the mining sector.

Key market insights:

• The construction segment accounted for the largest share of the market in 2021, due to the increasing demand for cranes in construction projects, such as residential, commercial, and industrial buildings, as well as infrastructure development.
• The heavy-duty segment is expected to grow at the highest CAGR during the forecast period, owing to the rising demand for cranes with higher lifting capacities in construction and mining projects.
• The Asia-Pacific region is expected to be the largest market for truck mounted knuckle boom cranes, due to the rapid growth of the construction sector in the region.

Driving Forces: What's Propelling the Truck Mounted Knuckle Boom Crane

The key driving forces behind the growth of the truck mounted knuckle boom crane market include:

• Rising demand for construction and infrastructure development: The increasing construction of residential, commercial, and industrial buildings, as well as infrastructure projects, is driving the demand for truck mounted knuckle boom cranes.
• Increasing urbanization: The growing population density in urban areas is leading to increased demand for cranes for construction and maintenance of high-rise buildings and other structures.
• Growing investment in the mining sector: The expansion of the mining industry is increasing the demand for cranes for material handling and equipment transportation.

Challenges and Restraints in Truck Mounted Knuckle Boom Crane

The key challenges and restraints facing the truck mounted knuckle boom crane market include:

• High operating costs: The operating costs of truck mounted knuckle boom cranes are relatively high, due to fuel consumption, maintenance, and labor costs.
• Safety concerns: Truck mounted knuckle boom cranes are heavy and complex machines, and their operation carries inherent safety risks.
• Strict regulations: The operation of truck mounted knuckle boom cranes is subject to strict regulations in many countries, which can limit their use and increase compliance costs.

Key Region or Country & Segment to Dominate the Market

The Asia-Pacific region is expected to dominate the truck mounted knuckle boom crane market, accounting for over 50% of the global revenue share in 2021. The growth of the market in the region is attributed to the rapid growth of the construction sector, particularly in China, India, and Southeast Asia.

The heavy-duty segment is expected to be the fastest-growing segment of the market, driven by the increasing demand for cranes with higher lifting capacities in construction and mining projects.

Growth Catalysts in Truck Mounted Knuckle Boom Crane Industry

The key growth catalysts for the truck mounted knuckle boom crane industry include:

• Technological advancements: The development of new technologies, such as advanced hydraulic systems and remote control systems, is improving the performance and efficiency of truck mounted knuckle boom cranes.
• Increasing investment in research and development: Manufacturers are investing in research and development to improve the safety, efficiency, and versatility of truck mounted knuckle boom cranes.
• Growing awareness of safety: The increasing awareness of safety concerns is leading to the development of new safety features and training programs for truck mounted knuckle boom crane operators.

Leading Players in the Truck Mounted Knuckle Boom Crane

The leading players in the truck mounted knuckle boom crane market include:

• Action Construction Equipment []
• Altech Industries []
• Furukawa []
• Hydrauliska Industri AB []
• Hyva []
• Kawasaki Heavy Industries []
• Kobelco Construction Machinery Co. Ltd. []
• Manitowoc []
• Palfinger AG []
• Tadano Limited []
• Terex Corporation []
• TIL Limited []
• SANY Group []
• Xuzhou Construction Machinery Group []
• Zoomlion Heavy Industry Science & Technology []

Significant Developments in Truck Mounted Knuckle Boom Crane Sector

The truck mounted knuckle boom crane sector has witnessed several significant developments in recent years, including:

• The introduction of new models with advanced features: Manufacturers are introducing new models of truck mounted knuckle boom cranes with advanced features, such as improved lifting capacities, enhanced control systems, and increased safety features.
• The development of hybrid and electric cranes: Some manufacturers are developing hybrid and electric truck mounted knuckle boom cranes to reduce fuel consumption and emissions.
• The adoption of advanced technologies: The adoption of advanced technologies, such as remote control systems, data analytics, and IoT, is improving the efficiency and safety of truck mounted knuckle boom cranes.

Comprehensive Coverage Truck Mounted Knuckle Boom Crane Report

The comprehensive coverage of the truck mounted knuckle boom crane report includes:

• Market size and trends
• Driving forces and challenges
• Key segments and regions
• Competitive landscape
• Growth catalysts
• Key players
• Significant developments
• Future outlook

Truck Mounted Knuckle Boom Crane Segmentation

• 1. Type
  • 1.1. Small Duty
  • 1.2. Medium Duty
  • 1.3. Big Duty
  • 1.4. Heavy Duty
  • 1.5. World Truck Mounted Knuckle Boom Crane Production
• 2. Application
  • 2.1. Construction
  • 2.2. Mining
  • 2.3. Others
  • 2.4. World Truck Mounted Knuckle Boom Crane Production

Truck Mounted Knuckle Boom Crane Segmentation By Geography

• 1. North America
  • 1.1. United States
  • 1.2. Canada
  • 1.3. Mexico
• 2. South America
  • 2.1. Brazil
  • 2.2. Argentina
  • 2.3. Rest of South America
• 3. Europe
  • 3.1. United Kingdom
  • 3.2. Germany
  • 3.3. France
  • 3.4. Italy
  • 3.5. Spain
  • 3.6. Russia
  • 3.7. Benelux
  • 3.8. Nordics
  • 3.9. Rest of Europe
• 4. Middle East & Africa
  • 4.1. Turkey
  • 4.2. Israel
  • 4.3. GCC
  • 4.4. North Africa
  • 4.5. South Africa
  • 4.6. Rest of Middle East & Africa
• 5. Asia Pacific
  • 5.1. China
  • 5.2. India
  • 5.3. Japan
  • 5.4. South Korea
  • 5.5. ASEAN
  • 5.6. Oceania
  • 5.7. Rest of Asia Pacific