Technavios global truck mounted crane market research report forecasts the market to grow at a CAGR of over 9% during the forecast period.
The adaptation of diesel engines for mobile crane applications will be one of the major trends in the global truck mounted crane market during 2018-2022. Truck-mounted crane manufacturers are compelled to provide offerings, which adhere to the specified emission regulations after the implementation of the Stage V regulations in Europe. Many diesel engine manufacturers that supply engines for mobile crane applications are introducing innovative diesel engines that cater to the heavy-duty requirements of mobile cranes.
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According to Technavios analysts, one of the key drivers for the global truck mounted crane market is the rapid globalization of industries.
Global truck mounted crane market: Rapid globalization of industries
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The industrial and construction end-user sectors have been positively impacted by the advent of globalization. The companies can reduce production costs substantially through global investments and technological innovation. As a result, there has been an increase in the competition among international and domestic vendors.
According to a senior research analyst at Technavio, Many construction and manufacturing companies that are based in developed countries such as the US and Western Europe are shifting their focus toward emerging economies to save production costs. The companies are shifting their base to emerging economies such as China, India, Indonesia, and Brazil owing to low labor costs and lower procurement costs for raw materials.
Global truck mounted crane market: Segmentation analysis
This global truck mounted crane market analysis report provides market segmentation by end-user (construction, industries, and utilities) and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three end-user sectors, the construction industry held the largest truck mounted crane market share in 2017, contributing to nearly 47% of the market. This end-user segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2017, accounting for more than 43% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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