Wheeled Crane Market Size, Trends and Insights By Type (Truck Cranes, All Terrain Cranes, Rough Terrain Cranes, Loader Cranes, Others), By Propulsion (Engine Powered, Electric Powered, Hybrid Powered), By End User (Construction, Utilities, Industries, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- Terex Corporation
- Liebherr Group
- Tadano Ltd.
- Manitowoc Company Inc.
- Konecranes Plc.
- Hyundai Heavy Industries Co. Ltd.
- Others
Reports Description
Global Wheeled Crane Market was valued at USD 17.3 Billion in 2024 and is expected to reach USD 27.6 Billion by 2033, at a CAGR of 5.5% during the forecast period 2024 – 2033.
The wheeled crane is supported by a robust frame with wheels, allowing it to be driven on roadways and manoeuvred around job sites. Wheeled cranes are normally powered by diesel engines, while certain types may employ alternate power sources such as electric motors or hybrid drives.
Wheeled Crane Market: Growth Factors
Surge in construction activities
The increase in construction activity acts as a driver for the wheeled crane market’s expansion. As the number of construction projects grows, so does the demand for lifting and hoisting equipment to help with operations like material handling, erecting structural parts, and assembling machines.
Wheeled cranes are versatile, mobile, and efficient, making them vital on construction sites. Furthermore, mobile cranes can move swiftly between construction sites, increasing productivity and project timeframes.
With the construction sector experiencing significant urbanisation, infrastructure expansion, and commercial building projects, the need for wheeled cranes is likely to rise dramatically. Manufacturers are thus poised to capitalize on this trend by offering innovative wheeled crane solutions tailored to meet the evolving needs of construction contractors and project managers.
According to Union Minister Hardeep Singh Puri, India’s construction sector is on an upward ascent, with the potential to become the world’s third-largest by 2025. Increased house construction and building activity in metros, semi-urban and urban areas boost crane demand.
Exploration activities in the oil and gas industry
Exploration operations in the oil and gas industry contribute significantly to the wheeled crane market. As oil and gas firms attempt to tap into new deposits and expand current operations, heavy lifting equipment is required to assist their exploration and production activities.
Wheeled cranes are vital in this regard because they provide the mobility and lifting power required to complete a variety of jobs in remote and demanding areas. In oil and gas exploration, wheeled cranes are used to assemble drilling rigs, move equipment and materials, and install infrastructure that includes pipelines and wellheads.
These cranes are versatile and manoeuvrable, allowing operators to cross harsh terrain and access difficult-to-reach areas prevalent in exploration sites. Furthermore, rising demand for wheeled cranes in the oil and gas industry spurs innovation and developments in crane technology.
Manufacturers are designing specialised cranes with characteristics such as better lifting capacity, improved safety systems, and increased fuel efficiency to fulfil the industry’s specific needs. Overall, the increase in oil and gas exploration operations produces a high demand for wheeled cranes, boosting market growth and encouraging technical innovation in crane design and functioning.
Wheeled Crane Market: Restraints
High configuration cost
The high setup cost is a key barrier to entry into the wheeled crane business, limiting market development and expansion. These cranes require a significant initial investment to acquire and customise to specific project requirements, such as size, lifting capability, and operational characteristics.
The customisation required to fulfil varied client demands drives up setup costs, making it difficult for smaller enterprises to enter the market or incumbent players to extend their offers. Furthermore, high setup costs frequently result in increased purchase prices for wheeled cranes, restricting affordability for potential purchasers.
This may prevent investment in wheeled crane equipment, resulting in delayed market acceptance and reduced overall demand. To mitigate this difficulty, firms may need to investigate cost-effective design and production solutions, exploiting economies of scale.
Wheeled Crane Market: Opportunities
Introduction of industrial IoT
The emergence of Industrial Internet of Things (IIoT) technology has had a huge influence on the wheeled crane industry, transforming operations, efficiency, and safety. IIoT enables wheeled cranes to be outfitted with sensors, actuators, and connection, enabling real-time monitoring, data collecting, and analysis of crane performance and operational circumstances.
This breakthrough technology improves crane management and maintenance procedures by giving information about equipment health, usage patterns, and predictive maintenance requirements. Operators may use IIoT to remotely monitor crane operations, measure performance data, and get warnings for possible faults, enabling preventive maintenance and reducing downtime.
Moreover, IIoT-enabled wheeled cranes may optimise resource allocation, increase production, and improve safety by including collision avoidance systems, load monitoring, and autonomous diagnostics.
Furthermore, IIoT enables integration with other digital technologies like as cloud computing, artificial intelligence, and machine learning, resulting in new capabilities for predictive analytics, optimisation algorithms, and autonomous crane operations.
In summary, IIoT adoption in the wheeled crane market increases efficiency, dependability, and safety, allowing operators to maximise production while minimising operational hazards in construction, logistics, and industrial applications.
Wheeled Crane Market: Segmentation Analysis
Global Wheeled Crane Market is segmented by type, propulsion, end user, and region. Based on type, the market is classified into truck cranes, all-terrain cranes, rough terrain cranes, loader cranes and others.
Truck Cranes dominated the market in 2023 with a market share of 35.3% and are expected to keep their dominance during the forecast period 2024-2033. Truck cranes have emerged as key players in the wheeled crane industry due to their versatility, mobility, and simplicity of transport.
Unlike typical stationary cranes, truck cranes are placed on trucks and may be quickly transferred to various work locations. This mobility allows builders and construction businesses to efficiently deploy crane services to different sites without the need for disassembly and reassembly.
Truck cranes also have shorter setup periods and more manoeuvrability, making them suited for a variety of lifting activities in industries such as construction, utilities, and infrastructure development. Their ability to handle metropolitan areas and tough terrain adds to their attractiveness.
Truck cranes have grown increasingly popular among contractors looking for cost-effective and adaptable lifting options, fuelling growth.
Based on propulsion, the market is classified into engine powered, electric powered, hybrid powered. Engine Powered dominated the market in 2023 with a market share of 41.5% and is expected to keep its dominance during the forecast period 2024-2033.
The growing demand for building and infrastructure projects throughout the world is pushing the need for adaptable and mobile lifting equipment. Engine-powered wheeled cranes provide flexibility and manoeuvrability on job sites, enabling efficient material handling and positioning.
Furthermore, technological developments have resulted in the creation of more powerful and fuel-efficient engines, hence improving wheeled crane performance and cost-effectiveness. These innovations help crane operators increase their productivity and minimise their operating expenses, which fuels market growth.
Furthermore, the growth of sectors such as manufacturing, mining, and logistics has increased demand for wheeled cranes for a variety of material handling applications.
Based on end user, the market is classified into construction, utilities, industries and others. Construction dominated the market in 2023 with a market share of 35.8% and is expected to keep its dominance during the forecast period 2024-2033.
The construction industry plays a pivotal role in driving the wheeled crane market owing to its extensive use of heavy lifting equipment for various tasks. Wheeled cranes are essential in construction projects for lifting and transporting large materials, equipment, and prefabricated components to high locations or throughout the job site.
With the world’s fast urbanization and infrastructural development, demand for wheeled cranes has increased. High-rise buildings, bridges, and infrastructure development all need effective lifting solutions to satisfy strict deadlines and safety standards. Furthermore, developments in crane technology, such as enhanced lifting capacity, hydraulic systems, and operator interfaces, improve their performance.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 17.3 Billion |
| Projected Market Size in 2033 | USD 27.6 Billion |
| Market Size in 2023 | USD 16.8 Billion |
| CAGR Growth Rate | 5.5% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type, Propulsion, End User and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Wheeled Crane Market: Regional Analysis
By region, Wheeled Crane market is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East & Africa. The Asia-Pacific dominated the global Wheeled Crane market in 2023 with a market share of 43.6% and is expected to keep its dominance during the forecast period 2024-2033.
Rapid urbanisation and infrastructure development in Asia-Pacific countries such as China, India, and Southeast Asia have resulted in increasing demand for construction equipment, notably wheeled cranes, to support large-scale building projects such as skyscrapers, roads, and bridges.
Furthermore, the region’s developing industrial and manufacturing industries necessitate effective material handling solutions, resulting in the demand for adaptable and transportable lifting equipment such as wheeled cranes.
Moreover, government programmes focused on improving transportation networks and logistics infrastructure drive up demand for wheeled cranes for jobs like loading and unloading goods at ports and warehouses. The Asia-Pacific region’s strong economic development, combined with continuous expenditures in building and infrastructure, positions it to be a prominent growth driver for the wheeled crane market.
Wheeled Crane Market: Recent Developments
- In March 2022, Zoomlion’s mobile crane business released a Truck-mounted Crane. Zoomlion’s truck-mounted crane business combines its experience and creativity in mobile crane research and development, manufacture, and service.
- In July 2022, Sany Bharat accomplished a significant milestone by delivering 4 units of the Sany SCC8000A 800 Ton crawler crane, India’s largest crawler crane, to Sanghvi Movers Limited.
- In March 2021, Liebherr launched the MK 73-3.1 mobile construction crane, the most compact in Liebherr’s mobile construction crane family, which joins the MK 88-4.1 and MK 140 crane series.
List of the prominent players in the Wheeled Crane Market:
- Terex Corporation
- Liebherr Group
- Tadano Ltd.
- Manitowoc Company Inc.
- Konecranes Plc.
- Hyundai Heavy Industries Co. Ltd.
- Demag Cranes & Components GmbH
- Elliott Equipment Company
- FURUKAWA UNIC CORPORATION
- XCMG Group
- Sany Group
- Zoomlion Heavy Industry Science and Technology Co. Ltd.
- Kobelco Construction Machinery Co. Ltd.
- Link-Belt Cranes
- Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd.
- Grove Worldwide
- Palfinger AG
- SENNEBOGEN Maschinenfabrik GmbH
- Fassi Gru S.p.A.
- Guay Inc.
- Others
These key players are adopting various growth strategies such as mergers & acquisitions, joint ventures, expansion, strategic alliances, new product launches, etc. to enhance their business operations and revenues.
The Wheeled Crane Market is segmented as follows:
By Type
- Truck Cranes
- All Terrain Cranes
- Rough Terrain Cranes
- Loader Cranes
- Others
By Propulsion
- Engine Powered
- Electric Powered
- Hybrid Powered
By End User
- Construction
- Utilities
- Industries
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Wheeled Crane Market, (2024 – 2033) (USD Billion)
- 2.2 Global Wheeled Crane Market : snapshot
- Chapter 3. Global Wheeled Crane Market – Industry Analysis
- 3.1 Wheeled Crane Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Surge in Construction Activities
- 3.2.2 Exploration activities in the oil and gas industry
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type
- 3.7.2 Market attractiveness analysis By Propulsion
- 3.7.3 Market attractiveness analysis By End User
- Chapter 4. Global Wheeled Crane Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Wheeled Crane Market: Company Market Share, 2023
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Wheeled Crane Market – Type Analysis
- 5.1 Global Wheeled Crane Market Overview: By Type
- 5.1.1 Global Wheeled Crane Market Share, By Type, 2023 and 2033
- 5.2 Truck Cranes
- 5.2.1 Global Wheeled Crane Market by Truck Cranes, 2024 – 2033 (USD Billion)
- 5.3 All Terrain Cranes
- 5.3.1 Global Wheeled Crane Market by All Terrain Cranes, 2024 – 2033 (USD Billion)
- 5.4 Rough Terrain Cranes
- 5.4.1 Global Wheeled Crane Market by Rough Terrain Cranes, 2024 – 2033 (USD Billion)
- 5.5 Loader Cranes
- 5.5.1 Global Wheeled Crane Market by Loader Cranes, 2024 – 2033 (USD Billion)
- 5.6 Others
- 5.6.1 Global Wheeled Crane Market by Others, 2024 – 2033 (USD Billion)
- 5.1 Global Wheeled Crane Market Overview: By Type
- Chapter 6. Global Wheeled Crane Market – Propulsion Analysis
- 6.1 Global Wheeled Crane Market Overview: By Propulsion
- 6.1.1 Global Wheeled Crane Market Share, By Propulsion, 2023 and 2033
- 6.2 Engine Powered
- 6.2.1 Global Wheeled Crane Market by Engine Powered, 2024 – 2033 (USD Billion)
- 6.3 Electric Powered
- 6.3.1 Global Wheeled Crane Market by Electric Powered, 2024 – 2033 (USD Billion)
- 6.4 Hybrid Powered
- 6.4.1 Global Wheeled Crane Market by Hybrid Powered, 2024 – 2033 (USD Billion)
- 6.1 Global Wheeled Crane Market Overview: By Propulsion
- Chapter 7. Global Wheeled Crane Market – End User Analysis
- 7.1 Global Wheeled Crane Market Overview: By End User
- 7.1.1 Global Wheeled Crane Market Share, By End User, 2023 and 2033
- 7.2 Construction
- 7.2.1 Global Wheeled Crane Market by Construction, 2024 – 2033 (USD Billion)
- 7.3 Utilities
- 7.3.1 Global Wheeled Crane Market by Utilities, 2024 – 2033 (USD Billion)
- 7.4 Industries
- 7.4.1 Global Wheeled Crane Market by Industries, 2024 – 2033 (USD Billion)
- 7.5 Others
- 7.5.1 Global Wheeled Crane Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Wheeled Crane Market Overview: By End User
- Chapter 8. Wheeled Crane Market – Regional Analysis
- 8.1 Global Wheeled Crane Market Regional Overview
- 8.2 Global Wheeled Crane Market Share, by Region, 2023 & 2033 (USD Billion)
- 8.3. North America
- 8.3.1 North America Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.3.1.1 North America Wheeled Crane Market, by Country, 2024 – 2033 (USD Billion)
- 8.3.1 North America Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.4 North America Wheeled Crane Market, by Type, 2024 – 2033
- 8.4.1 North America Wheeled Crane Market, by Type, 2024 – 2033 (USD Billion)
- 8.5 North America Wheeled Crane Market, by Propulsion, 2024 – 2033
- 8.5.1 North America Wheeled Crane Market, by Propulsion, 2024 – 2033 (USD Billion)
- 8.6 North America Wheeled Crane Market, by End User, 2024 – 2033
- 8.6.1 North America Wheeled Crane Market, by End User, 2024 – 2033 (USD Billion)
- 8.7. Europe
- 8.7.1 Europe Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.7.1.1 Europe Wheeled Crane Market, by Country, 2024 – 2033 (USD Billion)
- 8.7.1 Europe Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.8 Europe Wheeled Crane Market, by Type, 2024 – 2033
- 8.8.1 Europe Wheeled Crane Market, by Type, 2024 – 2033 (USD Billion)
- 8.9 Europe Wheeled Crane Market, by Propulsion, 2024 – 2033
- 8.9.1 Europe Wheeled Crane Market, by Propulsion, 2024 – 2033 (USD Billion)
- 8.10 Europe Wheeled Crane Market, by End User, 2024 – 2033
- 8.10.1 Europe Wheeled Crane Market, by End User, 2024 – 2033 (USD Billion)
- 8.11. Asia Pacific
- 8.11.1 Asia Pacific Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.11.1.1 Asia Pacific Wheeled Crane Market, by Country, 2024 – 2033 (USD Billion)
- 8.11.1 Asia Pacific Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.12 Asia Pacific Wheeled Crane Market, by Type, 2024 – 2033
- 8.12.1 Asia Pacific Wheeled Crane Market, by Type, 2024 – 2033 (USD Billion)
- 8.13 Asia Pacific Wheeled Crane Market, by Propulsion, 2024 – 2033
- 8.13.1 Asia Pacific Wheeled Crane Market, by Propulsion, 2024 – 2033 (USD Billion)
- 8.14 Asia Pacific Wheeled Crane Market, by End User, 2024 – 2033
- 8.14.1 Asia Pacific Wheeled Crane Market, by End User, 2024 – 2033 (USD Billion)
- 8.15. Latin America
- 8.15.1 Latin America Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.15.1.1 Latin America Wheeled Crane Market, by Country, 2024 – 2033 (USD Billion)
- 8.15.1 Latin America Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.16 Latin America Wheeled Crane Market, by Type, 2024 – 2033
- 8.16.1 Latin America Wheeled Crane Market, by Type, 2024 – 2033 (USD Billion)
- 8.17 Latin America Wheeled Crane Market, by Propulsion, 2024 – 2033
- 8.17.1 Latin America Wheeled Crane Market, by Propulsion, 2024 – 2033 (USD Billion)
- 8.18 Latin America Wheeled Crane Market, by End User, 2024 – 2033
- 8.18.1 Latin America Wheeled Crane Market, by End User, 2024 – 2033 (USD Billion)
- 8.19. The Middle-East and Africa
- 8.19.1 The Middle-East and Africa Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.19.1.1 The Middle-East and Africa Wheeled Crane Market, by Country, 2024 – 2033 (USD Billion)
- 8.19.1 The Middle-East and Africa Wheeled Crane Market, 2024 – 2033 (USD Billion)
- 8.20 The Middle-East and Africa Wheeled Crane Market, by Type, 2024 – 2033
- 8.20.1 The Middle-East and Africa Wheeled Crane Market, by Type, 2024 – 2033 (USD Billion)
- 8.21 The Middle-East and Africa Wheeled Crane Market, by Propulsion, 2024 – 2033
- 8.21.1 The Middle-East and Africa Wheeled Crane Market, by Propulsion, 2024 – 2033 (USD Billion)
- 8.22 The Middle-East and Africa Wheeled Crane Market, by End User, 2024 – 2033
- 8.22.1 The Middle-East and Africa Wheeled Crane Market, by End User, 2024 – 2033 (USD Billion)
- Chapter 9. Company Profiles
- 9.1 Terex Corporation
- 9.1.1 Overview
- 9.1.2 Financials
- 9.1.3 Product Portfolio
- 9.1.4 Business Strategy
- 9.1.5 Recent Developments
- 9.2 Liebherr Group
- 9.2.1 Overview
- 9.2.2 Financials
- 9.2.3 Product Portfolio
- 9.2.4 Business Strategy
- 9.2.5 Recent Developments
- 9.3 Tadano Ltd.
- 9.3.1 Overview
- 9.3.2 Financials
- 9.3.3 Product Portfolio
- 9.3.4 Business Strategy
- 9.3.5 Recent Developments
- 9.4 Manitowoc Company Inc.
- 9.4.1 Overview
- 9.4.2 Financials
- 9.4.3 Product Portfolio
- 9.4.4 Business Strategy
- 9.4.5 Recent Developments
- 9.5 Konecranes Plc.
- 9.5.1 Overview
- 9.5.2 Financials
- 9.5.3 Product Portfolio
- 9.5.4 Business Strategy
- 9.5.5 Recent Developments
- 9.6 Hyundai Heavy Industries Co. Ltd.
- 9.6.1 Overview
- 9.6.2 Financials
- 9.6.3 Product Portfolio
- 9.6.4 Business Strategy
- 9.6.5 Recent Developments
- 9.7 Demag Cranes & Components GmbH
- 9.7.1 Overview
- 9.7.2 Financials
- 9.7.3 Product Portfolio
- 9.7.4 Business Strategy
- 9.7.5 Recent Developments
- 9.8 Elliott Equipment Company
- 9.8.1 Overview
- 9.8.2 Financials
- 9.8.3 Product Portfolio
- 9.8.4 Business Strategy
- 9.8.5 Recent Developments
- 9.9 FURUKAWA UNIC CORPORATION
- 9.9.1 Overview
- 9.9.2 Financials
- 9.9.3 Product Portfolio
- 9.9.4 Business Strategy
- 9.9.5 Recent Developments
- 9.10 XCMG Group
- 9.10.1 Overview
- 9.10.2 Financials
- 9.10.3 Product Portfolio
- 9.10.4 Business Strategy
- 9.10.5 Recent Developments
- 9.11 Sany Group
- 9.11.1 Overview
- 9.11.2 Financials
- 9.11.3 Product Portfolio
- 9.11.4 Business Strategy
- 9.11.5 Recent Developments
- 9.12 Zoomlion Heavy Industry Science and Technology Co. Ltd.
- 9.12.1 Overview
- 9.12.2 Financials
- 9.12.3 Product Portfolio
- 9.12.4 Business Strategy
- 9.12.5 Recent Developments
- 9.13 Kobelco Construction Machinery Co. Ltd.
- 9.13.1 Overview
- 9.13.2 Financials
- 9.13.3 Product Portfolio
- 9.13.4 Business Strategy
- 9.13.5 Recent Developments
- 9.14 Link-Belt Cranes
- 9.14.1 Overview
- 9.14.2 Financials
- 9.14.3 Product Portfolio
- 9.14.4 Business Strategy
- 9.14.5 Recent Developments
- 9.15 Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd.
- 9.15.1 Overview
- 9.15.2 Financials
- 9.15.3 Product Portfolio
- 9.15.4 Business Strategy
- 9.15.5 Recent Developments
- 9.16 Grove Worldwide
- 9.16.1 Overview
- 9.16.2 Financials
- 9.16.3 Product Portfolio
- 9.16.4 Business Strategy
- 9.16.5 Recent Developments
- 9.17 Palfinger AG
- 9.17.1 Overview
- 9.17.2 Financials
- 9.17.3 Product Portfolio
- 9.17.4 Business Strategy
- 9.17.5 Recent Developments
- 9.18 SENNEBOGEN Maschinenfabrik GmbH
- 9.18.1 Overview
- 9.18.2 Financials
- 9.18.3 Product Portfolio
- 9.18.4 Business Strategy
- 9.18.5 Recent Developments
- 9.19 Fassi Gru S.p.A.
- 9.19.1 Overview
- 9.19.2 Financials
- 9.19.3 Product Portfolio
- 9.19.4 Business Strategy
- 9.19.5 Recent Developments
- 9.20 Guay Inc.
- 9.20.1 Overview
- 9.20.2 Financials
- 9.20.3 Product Portfolio
- 9.20.4 Business Strategy
- 9.20.5 Recent Developments
- 9.21 Others.
- 9.21.1 Overview
- 9.21.2 Financials
- 9.21.3 Product Portfolio
- 9.21.4 Business Strategy
- 9.21.5 Recent Developments
- 9.1 Terex Corporation
List Of Figures
Figures No 1 to 28
List Of Tables
Tables No 1 to 77
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2033
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
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| Demand-side |
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Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
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Prominent Player
- Terex Corporation
- Liebherr Group
- Tadano Ltd.
- Manitowoc Company Inc.
- Konecranes Plc.
- Hyundai Heavy Industries Co. Ltd.
- Demag Cranes & Components GmbH
- Elliott Equipment Company
- FURUKAWA UNIC CORPORATION
- XCMG Group
- Sany Group
- Zoomlion Heavy Industry Science and Technology Co. Ltd.
- Kobelco Construction Machinery Co. Ltd.
- Link-Belt Cranes
- Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd.
- Grove Worldwide
- Palfinger AG
- SENNEBOGEN Maschinenfabrik GmbH
- Fassi Gru S.p.A.
- Guay Inc.
- Others
FAQs
The restraints of the Wheeled Crane market is high configuration cost.
The major driver for the Wheeled Crane market is surge in construction activities and exploration activities in the oil and gas industry.
The “Truck Cranes” category dominated the market in 2023.
The key players in the market are Terex Corporation, Liebherr Group, Tadano Ltd., Manitowoc Company Inc., Konecranes Plc., Hyundai Heavy Industries Co. Ltd., Demag Cranes & Components GmbH, Elliott Equipment Company, FURUKAWA UNIC CORPORATION, XCMG Group, Sany Group, Zoomlion Heavy Industry Science and Technology Co. Ltd., Kobelco Construction Machinery Co. Ltd., Link-Belt Cranes, Hitachi Sumitomo Heavy Industries Construction Crane Co. Ltd., Grove Worldwide , Palfinger AG, SENNEBOGEN Maschinenfabrik GmbH, Fassi Gru S.p.A., Guay Inc., Others.
“Asia-Pacific” had the largest share in the Wheeled Crane Market.
The global market is projected to grow at a CAGR of 5.5% during the forecast period, 2024-2033.
The Wheeled Crane Market size was valued at USD 17.3 Billion in 2024.