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Telescopic Crane Market by Product (Truck-mounted telescopic cranes, Rough terrain telescopic cranes, All-terrain telescopic cranes, Crawler telescopic cranes), by Lifting Capacity (Up to 20 tons, 21 to 50 tons, 51 to 100 tons, Above 100 tons), by Operation Mode (Hydraulic telescopic cranes, Electric telescopic cranes), by Application (Cargo loading/unloading, Steel structure erection, Heavy equipment lifting, Prefabricated component assembly), by End Use (Construction, Manufacturing, Oil & gas, Mining, Shipbuilding, Utilities, Others), by North America (U.S., Canada), by Europe (UK, Germany, France, Italy, Russia, Belgium, Sweden, Rest of Europe), by Asia Pacific (China, India, Japan, South Korea, Indonesia, Thailand, Vietnam, Rest of Asia Pacific), by Latin America (Brazil, Mexico, Argentina, Rest of Latin America), by MEA (UAE, Saudi Arabia, South Africa, Iran, Turkey, Rest of MEA) Forecast 2025-2033
The size of the Telescopic Crane Market was valued at USD 5.8 Billion in 2023 and is projected to reach USD 8.44 Billion by 2032, with an expected CAGR of 5.5% during the forecast period. The Telescopic Crane Market emphasizes the need for cranes featuring a telescoping boom that can extend and retract, allowing access to different heights and distances while offering exceptional versatility and maneuverability. These cranes are frequently employed in sectors like construction, oil and gas, mining, and logistics, where it is essential to lift heavy loads in confined or difficult-to-access areas. The expansion of the market is fueled by the rising demand for efficient, adaptable, and compact lifting solutions in urban construction, infrastructure initiatives, and specialized uses. Telescopic cranes are recognized for functioning in tight areas, their fast assembly, and their capacity to reach impressive heights without needing considerable ground space. Technological progress, such as automation, better load monitoring systems, and upgraded safety features, is accelerating the use of telescopic cranes. The interest in environmentally friendly, energy-saving models is impacting market trends, as industries seek sustainable options. The Telescopic Crane Market is set for considerable growth, fueled by rising infrastructure projects and an enhanced emphasis on adaptable, high-efficiency lifting options.
The telescopic crane market is moderately concentrated, with leading players holding significant market shares. The market is characterized by innovation, as manufacturers focus on developing advanced cranes with greater lifting capacities, improved safety features, and reduced operating costs. Regulations related to crane safety and emissions impact the market. End-user concentration is evident in the construction and oil and gas sectors, while M&A activity within the industry has been prevalent.
The increasing demand for efficient and versatile lifting equipment, particularly in urban construction, is a key trend driving the telescopic crane market. The adoption of hybrid and electric cranes, offering reduced emissions and improved fuel efficiency, is also gaining traction. Technological advancements, such as the implementation of IoT and telematics, enhance crane connectivity and data-driven decision-making, leading to improved fleet management and increased productivity.
Aspects | Details |
---|---|
Study Period | 2019-2033 |
Base Year | 2024 |
Estimated Year | 2025 |
Forecast Period | 2025-2033 |
Historical Period | 2019-2024 |
Growth Rate | CAGR of 5.5% from 2019-2033 |
Segmentation |
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Note* : In applicable scenarios
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