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March 2025
Senior Research Analyst
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The all-terrain crane market is forecasted to expand from USD 9.65 billion in 2025 to USD 16.84 billion by 2034, growing at a CAGR of 6.38% from 2025 to 2034.
However, the business landscape has been significantly impacted by the COVID-19 pandemic, leading to widespread disruptions across major markets worldwide. The pandemic-induced economic slowdown and supply chain disruptions forced the closure of many manufacturing facilities and Original Equipment Manufacturers (OEMs), halting production activities to comply with local regulations and curb the spread of the virus.
During this period, the demand for all-terrain cranes experienced a notable decline. Nevertheless, as economies gradually reopen and demand rebounds, there is a resurgence in the market, particularly in regions such as China and India. The revival of the construction and transportation sectors, coupled with various infrastructure projects, is expected to have a positive ripple effect on the entire crane industry. While developed markets witness robust growth in construction and renovation activities, emerging markets are also expected to witness notable demand for all-terrain cranes during the forecast period.
Despite the promising growth prospects, certain factors may act as impediments to the growth of the crane market. High medical costs and substantial initial investment requirements could pose challenges for market expansion. Additionally, the increasing trend towards equipment rental worldwide may impact sales in the new all-terrain crane market segment.
For Instance,
Europe stands out as the largest market globally for all-terrain cranes, driven by robust infrastructure development and construction activities. Although the Chinese market has experienced relatively slower growth, the Asia-Pacific region remains the largest market for various types of cranes, underscoring the region's significance in the global crane industry landscape.
According to the American Society of Civil Engineers, the projected cost of repairing the current state of infrastructure in the United States stands at nearly $4 trillion by 2025. Furthermore, the global construction industry's growth trajectory and investments in infrastructure are anticipated to drive economic expansion. The accelerated adoption of all-terrain cranes is expected, propelled by the expansion of cement plants and the increased capacity in shipbuilding and repair projects.
Major players in the crane market are actively engaged in developing new cranes equipped with cutting-edge technologies. For instance, in May 2022, Tadano has launched a new line of all-terrain cranes, using the manufacturing experience of its Zweibrücken and Lauf plants in Germany.
Moreover, intensified competition within the construction industry is projected to drive up crane rental prices, thereby boosting overall crane revenue. Demand for all-terrain cranes and crane rentals is on the rise. Given the high costs associated with purchasing new equipment, as well as maintenance and storage concerns, leasing has emerged as a viable alternative for businesses, especially newcomers in the industry. In fact, for short-term utilization, renting machinery proves to be a more cost-effective option for construction professionals, enabling efficient use of resources.
According to the EU Cohesion Policy, approximately 4 billion euros of EU funds are slated to be invested in 25 major projects spanning 10 states. These investments are earmarked for Bulgaria, Czech Republic, Germany, Greece, Hungary, Italy, Malta, Poland, Portugal, and Romania. The projects encompass a wide array of sectors including health, transportation, science, environment, and energy, reflecting the EU's commitment to regional development and infrastructure enhancement.
Despite the challenges posed by the COVID-19 pandemic in 2020, which resulted in subdued sales across the crane industry, the adoption of digitalization and connectivity has ushered in a new era of innovation and efficiency in the construction sector. Many European countries have embarked on ambitious infrastructure projects, revitalizing the road and construction industries across the continent.
The off-road crane market is predominantly controlled by both international giants and regional players, with key contenders including Liebherr International AG, Terex AG, and XCMG. These major players continuously expand their product portfolios by introducing new crane models to stay competitive within the industry.
Recent instances of product launches by major players in the off-road crane market include:
All-terrain cranes are versatile machines known for their ability to navigate various terrains and work environments with ease. Equipped with four-wheel drive capabilities, these cranes offer high speed and maneuverability, making them indispensable for construction, infrastructure development, and industrial applications.
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March 2025
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Dr. Arjun Patel is a distinguished expert in the automotive industry, holding advanced degrees in Automotive Engineering and Mechanical Engineering. His expertise spans automotive market dynamics, technological advancements, and sustainable practices. Dr. Patel excels in conducting in depth research and analysis on market trends, consumer preferences, and the economic implications within the automotive sector. He is renowned for his insightful publications on topics such as electric vehicles, autonomous driving technologies, and the evolution of sustainable transportation solutions. Dr. Patels research contributions have significantly advanced understanding in the field, earning him recognition as a leading authority in automotive research and analysis.
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