Truck Canes Market Stakeholders Strengthen Dealership Network
Through 2028, the market for truck cranes is expected to increase at a CAGR of about 4%. Truck cranes with a lifting capacity of 300 tonnes are expected to generate approximately US$ 670 million in revenue sales.
Sales through dealership network continue to dominate the truck cranes market revenues.
In a bid to expand the market presence, strengthening of dealership network remains the prominent strategy of heavy-duty equipment manufacturers. As road regulations across regions vary, OEMs are also incorporating region-specific developments in the equipment design of truck cranes in addition to expanding the dealership networks, notable developments in the truck crane market are;
- Manitex International, Inc., a leading player in the truck cranes market announced the expansion of articulating truck crane distribution network through ALT Sales LLC. Post this deal, ALT is expected to begin the retail distribution of Manitex cranes.
- Manitowoc Company, another leading provider of truck cranes, in August 2018, announced expansion of it Grove cranes coverage through Hayden-Murphy Equipment Company’s dealership in North Dakota.
- Altec, Inc. another leading provider of equipment has partnered with ALT Sales in May 2018 to distribute Altec cranes in the United States.
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Emission Limits Push Manufacturers to Focus on Fuel-Efficiency and Enhanced Productivity in Truck Cranes
Compliance with Tier IV Final emission standards in the US has become a prominent milestone for manufacturers in the truck cranes market. Along with introducing low-emission diesel engines, manufacturers are also implementing advanced technologies to achieve fuel efficiency and enhanced productivity.
In addition, truck cranes are utilized for goods delivery around the city where diesel emissions are strictly controlled.
Manufacturers in the truck cranes market have introduced low-emission engines. For instance, Lawson, a prominent truck cranes provider has introduced a CNG-powered engine and a new ePTO- electric power take-off system in truck cranes.
Another example of the implementation of low-emission engines in truck engines is a partnership of Scania and Kobelco wherein Scania will provide the low-emission engine for Kobelco cranes.
Delivery of Higher Equipment Lifecycle Values – A Prime Focus of Truck Crane Manufacturers
Heavy-duty equipment industry has witnessed the rapid implementation of advanced technologies in a bid to optimize operational costs of equipment downtime and increase the uptime.
Manufacturers in the truck cranes market have incorporated multiple predictive maintenance technologies to deliver improved maintenance and repair services.
- In April 2018, Manitowoc, a leading player in the truck cranes market introduced a new diagnostic smartphone app which will enable truck cranes’ operators to diagnose technical issues without third-party assistance resulting in faster repair and maintenance.
- Konecranes has also introduced Lifecycle Care - safety inspections and preventive maintenance system in cranes which has led to a significant reduction in the truck crane’s downtime.
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Modern Truck Cranes Combine Efficient Lifting and Faster Transportation
In a bid to accommodate increasing demand for compact-sized yet efficient construction equipment in infrastructure projects,manufacturers are integratingmultiple operations in equipment to deliver higher productivity.
Development of a purpose-built chassis is another prominent trend wherein feasible integration of standard components, ranging from tires to engine reduces maintenance costs.
To deliver a cost-efficient and easily maneuverable equipment, manufacturers in the truck cranes market are combining better lifting capacities with easier transport.
The competitive landscape section of the truck cranes market report provides a dashboard view of all the key players operating in the global landscape of the truck cranes market.
Few of the profiled players in the truck cranes market are
- Liebherr Group
- Kato Works Co. Ltd.
- Sany Heavy Industry Co., Ltd.
- Tadano Ltd.
- The Manitowoc Company Inc.
- XCMG Construction Machinery Co., Ltd.
- Elliott Equipment Company (U.S.)
- Böcker Maschinenwerke GmbH (Germany)
- Terex Corporation (U.S.)
- Manitex International Inc. (U.S.)
Manufacturers in the truck cranes market are leveraging product introduction and strengthening of dealership network in a bid to maintain the market presence. For instance, Liebherr Group’s new mobile cranes were added in the truck cranes fleet of rental service providers including Albert Regel GmbH in April 2018 and Gruas Aguilar in October 2018.
Tadano Ltd. has introduced a new right-hand drive truck cranes models the GT-750ER, GT-600ER and GT-300ER in April 2018 to strengthen market position in Southeast Asia, Africa and other left-hand traffic regions.
Manitowoc Company, Inc. launched its new Grove TMS500-2 truck crane with quick set up and versatile taxi capabilities at Crane Days 2018 in June 2018.
Truck crane is a crane mounted on a truck trailer. The truck crane has two components the lower carrier and the upper lifting component.
Truck crane also has a telescopic boom for specific application wherein materials are lifted at a high position. The carrier truck provides mobility to the crane and hence are used to easily transport crane to the job site and for loading and unloading of different loads.
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About the Report
Fact.MR has published a new study on the truck crane market and published a report titled, “Truck Cranes Market Forecast, Trend Analysis & Competition Tracking - Global Market Insights 2018 to 2028”.
The report also delivers the historical analysis of the truck cranes market for the period from 2013 to 2017.
A thorough assessment of the current trends, market drivers and future opportunities prevailing in the truck cranes market is considered while deriving the most credible market forecast for the period of 2018-2028.
Additional Questions Answered
In addition to the aforementioned insights, the truck cranes market report also covers other vital market facets that hold significant influence on the growth of the truck cranes market.
The report also answers some of the bemusing questions of the industry professionals that are interested in the truck cranes market.
- Among different lifting capacities, which type will be highly sought after in the truck cranes market?
- Which will be the impact of evolving emission standards in the heavy-duty equipment on the development of truck cranes market?
- Considering the divergent growth of the construction industry, which country is expected to expand rapidly in the truck cranes market?
A robust research methodology followed during the course of the market study is thoroughly discussed in this section.
This section of the truck cranes market report provides the users with in-depth research approaches taken to study the truck cranes market.
Primary and secondary research undertaken in the study with the list of credible sources studied in the report is also included in this section of the truck cranes market report.
The truck cranes market report provides market segmentation wherein the track cranes market is categorized based on end-use application, lifting capacity and region.
The market structure with these details covers all the vital aspects of the heavy-duty equipment industry.
Based on end-use application, demand for truck cranes remains steady from the end use applications including commercial, construction site, industrial applications, forestry, shipyard and others.
In terms of lifting capacity, the truck cranes market is segmented into truck cranes with less than 150 tonnes, 150-300 tonne and greater than 300 tonnes.
The truck cranes market structure also includes regional analysis wherein the truck cranes market is studied for North America, Latin America, Europe, Japan, APEJ and MEA.
The regional analysis covers the supply-demand equation of truck crane in these regions and a thorough country-wise analysis.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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