Wheeled Crane Market By Product Type (All-Terrain Cranes, Rough Terrain Cranes, Truck-Mounted Cranes, Crawler Cranes), By Application (Construction, Oil & Gas, Mining, Infrastructure, Industrial), By Distribution Channel (Direct Sales, Dealers and Distributors, Online Platforms), By End-User Industry (Construction, Oil & Gas, Manufacturing, Mining, Utilities), and By Region; Global Insights & Forecast (2024 – 2030)

As per Intent Market Research, the Wheeled Crane Market was valued at USD 15.6 billion in 2023 and will surpass USD 24.0 billion by 2030; growing at a CAGR of 6.3% during 2024 - 2030.

The wheeled crane market has seen significant growth, driven by the increasing demand for lifting and material handling solutions across various industries. These cranes are essential for heavy-duty operations, offering mobility, versatility, and high lifting capacity, making them indispensable in construction, oil & gas, and other industrial applications. As infrastructure development accelerates globally, wheeled cranes have gained traction due to their ability to navigate challenging terrains while providing efficient lifting solutions. This segment is characterized by several product types, applications, and distribution channels, each with its own set of growth drivers.

All-Terrain Cranes Segment Is Largest Owing to Versatility and Demand for Mobility

All-terrain cranes hold the largest share in the wheeled crane market, driven by their versatility and ability to perform in both rough and smooth terrains. These cranes are designed to operate efficiently on a wide range of surfaces, from urban streets to remote construction sites, providing crucial support in infrastructure development, industrial projects, and oil & gas operations. Their ability to travel on highways and rough terrains makes them an ideal choice for projects that require both mobility and heavy lifting capacity. The growing emphasis on infrastructure development, coupled with the need for cranes that can handle diverse site conditions, has propelled the demand for all-terrain cranes.

The increasing adoption of all-terrain cranes is also attributed to technological advancements, such as improved engines and lifting capabilities, making them more fuel-efficient and capable of handling larger loads. As construction projects become more complex and demanding, the role of these cranes becomes even more critical. The all-terrain crane segment’s growth is further fueled by expanding markets in emerging economies, where large-scale construction and infrastructure projects are prevalent.

Construction Application Is Fastest Growing Due to Expanding Infrastructure Projects

The construction sector is the fastest-growing application for wheeled cranes, driven by the increasing demand for infrastructure projects globally. Governments and private companies are investing heavily in urbanization, roadways, bridges, and commercial real estate, all of which require heavy lifting machinery. Wheeled cranes, particularly all-terrain and rough-terrain models, are vital for these large-scale projects due to their ability to handle heavy loads and operate in challenging environments. The construction sector’s growing demand for cranes is further supported by the rise in residential and commercial development, particularly in emerging markets.

This growth is also being fueled by the trend of constructing taller and more complex buildings, which require the use of advanced lifting equipment that can move large materials with precision. Additionally, the construction industry’s shift toward more sustainable and energy-efficient buildings has led to increased demand for cranes that can support green construction efforts, such as the use of eco-friendly materials and technologies.

Online Platforms Distribution Channel Is Growing Rapidly Due to E-Commerce Integration

Among various distribution channels, online platforms are experiencing the fastest growth in the wheeled crane market. As more industries move towards digital transformation, crane manufacturers are increasingly leveraging e-commerce platforms to reach a broader customer base. Online sales provide benefits such as greater convenience, transparent pricing, and easier comparison of different crane models, which is contributing to the rapid adoption of this distribution channel. The growing trend of online procurement in the construction and industrial sectors is a key driver of this growth, as companies seek more efficient ways to acquire heavy machinery.

Moreover, the integration of digital tools, such as virtual product demonstrations and real-time customer support, enhances the online purchasing experience, making it easier for buyers to make informed decisions. As e-commerce continues to expand globally, it is expected to play an increasingly important role in facilitating the purchase and delivery of wheeled cranes, particularly for small to medium-sized enterprises that require affordable, efficient equipment.

Oil & Gas End-User Industry Is Largest Due to Heavy Lifting Needs in Extraction and Exploration

The oil & gas industry remains the largest end-user sector for wheeled cranes, owing to the heavy lifting and material handling requirements in both extraction and exploration activities. Cranes are essential for lifting large equipment and machinery in oil fields, offshore platforms, and refineries. The need for cranes that can operate in harsh environments, such as offshore rigs and remote locations, positions all-terrain and rough-terrain cranes as the primary choice for these operations. Additionally, the oil & gas industry’s reliance on cranes for tasks such as transportation and installation of large components has cemented their status as a critical tool in the sector.

With oil prices fluctuating and exploration becoming more challenging, the industry’s demand for cranes that can support complex and large-scale operations continues to rise. This trend is expected to persist as the global oil and gas sector shifts toward more technologically advanced extraction methods, which will require specialized cranes capable of handling larger, more complex loads.

Asia Pacific Region Is Fastest Growing Owing to Robust Infrastructure Development

Asia Pacific is the fastest-growing region in the wheeled crane market, driven by substantial investments in infrastructure and construction projects. Countries like China, India, and Japan are witnessing rapid urbanization, with a sharp increase in the number of large-scale projects, such as residential complexes, highways, and bridges. The need for advanced cranes that can operate across diverse terrains is fueling market growth in the region. Moreover, the increased demand for renewable energy projects, such as wind farms and solar installations, is further boosting the need for wheeled cranes to handle the heavy lifting of turbines and other large equipment.

The region’s rapid industrialization and urbanization are expected to continue driving the demand for wheeled cranes, particularly in developing economies that are expanding their infrastructure to accommodate growing populations and economic development. As these markets continue to mature, the demand for cranes in sectors such as construction, oil & gas, and manufacturing will remain robust.

Leading Companies and Competitive Landscape

The competitive landscape of the wheeled crane market is marked by the presence of several key players, including Liebherr Group, Terex Corporation, Konecranes, SANY Group, and Manitowoc, among others. These companies dominate the market through continuous innovation, strategic partnerships, and geographic expansion. Liebherr, for instance, is known for its all-terrain cranes, which are widely used in construction, infrastructure, and industrial applications. Similarly, Terex has a strong presence in the rough terrain and truck-mounted crane segments, providing versatile solutions for various industries.

The market is also characterized by increasing mergers and acquisitions as companies seek to expand their product portfolios and enhance their technological capabilities. Manufacturers are focusing on developing more efficient cranes with advanced features, such as improved safety systems and fuel efficiency, to meet the rising demand for sustainable and high-performance lifting solutions. As the market continues to evolve, competition will intensify, with companies striving to maintain market leadership by offering innovative products and tailored solutions for a diverse customer base.

Recent Developments:

• Terex Corporation announced the launch of a new all-terrain crane, focusing on increasing lifting capacity and improving fuel efficiency, catering to the growing demand in the construction sector
• SANY Group expanded its global presence by acquiring a leading North American crane manufacturer, reinforcing its position in the mobile crane market
• Konecranes introduced a new line of electric wheeled cranes with reduced emissions, aligning with sustainability trends in the industrial lifting market
• Tadano Ltd. received regulatory approval for their new hybrid-powered truck-mounted cranes in Europe, marking a significant step in reducing carbon footprint in the crane market
• Zoomlion unveiled an advanced all-terrain crane with enhanced technology integration, providing better safety features and real-time load monitoring, aimed at the oil and gas industry

List of Leading Companies:

• Liebherr Group
• Terex Corporation
• Konecranes
• SANY Group
• XCMG Group
• Mitsubishi Heavy Industries
• Zoomlion Heavy Industry Science & Technology Co., Ltd.
• Manitowoc
• Cargotec Corporation
• Cranesmart Systems
• Doosan Infracore
• Link-Belt Cranes
• Tadano Ltd.
• Fassi Gru S.p.A.
• Palfinger AG

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