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All-Terrain Crane Market Size (2024 - 2029)

The all-terrain crane market is experiencing a recovery and growth trajectory, driven by the resurgence of the construction and transportation sectors, particularly in emerging economies. Despite challenges such as high maintenance costs, significant initial investments, and the impact of the COVID-19 pandemic, the market is witnessing increased demand, especially in regions like Asia-Pacific. The equipment rental market's expansion is influencing new crane sales, while the European region remains the largest market. The market's dynamics are shaped by factors such as declining liquidity in the non-bank financial sector and a slowdown in new residential projects globally.

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Market Size of All-Terrain Crane Industry

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All-Terrain Crane Market Size
Study Period 2019 - 2029
Base Year For Estimation 2023
CAGR > 5.00 %
Fastest Growing Market Asia-Pacific
Largest Market Europe
Market Concentration Medium

Major Players

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*Disclaimer: Major Players sorted in no particular order
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All Terrain Crane Market Analysis

The All-Terrain Crane Market is expected to register a CAGR of over 5% during the forecast period, 2022-2027.

During the outbreak of the COVID-19 pandemic, the market was hit adversely because of the disruptions caused in the supply chain as several major economies of the world were forced into lockdown, and economic activities were halted during this period. All the manufacturing units and OEM plants stopped their production to adhere to the social distancing norms and restrict the spread of the virus. The demand for All-Terrain Crane also fell drastically during this period. Yet, with the gradual opening up of economies, the demand returned to the market, and markets like China and India witnessed massive demand for All-Terrain Crane.

  • The general construction and transportation sectors are coming back into force with many projects, which are anticipated to positively impact the all-terrain crane market. For the most part, emerging economies contribute to this difference, where both the construction and the retrofit market are growing at a significantly higher pace. The developed economies will also likely demand up-gradation of all-terrain cranes over the forecast period.
  • However, the high maintenance cost and the high initial investments required are the factors that may hamper the growth of the market. As the equipment rental market is growing around the globe, it will affect the sales of the new all-terrain crane market.
  • Whereas, due to declining liquidity in the non-bank financial sector, a decline in new residential projects launched across the globe, and the impact of COVID-19 are significantly affecting the growth of the all-terrain crane market, which in turn is expected to affect the demand of newer cranes.

The Europe region is the largest market for all-terrain cranes in the world. Despite the Chinese market experiencing sluggish growth, Asia-Pacific is the fastest growing market for all-terrain crane

All Terrain Crane Industry Segmentation

All-terrain cranes are versatile cranes with highway speed capacity and maneuverability, ideal for both on and off-road construction and industrial projects. All-terrain cranes can access confined job sites with all-wheel steering.

All-Terrain Crane Market has been segmented by Capacity type (Less than 200 Ton, 200 - 500 Ton, More than 500 Ton). The market is also segmented by application (Construction, Industries, Utilities, Others). Another segmentation is by geography (North America, Europe, Asia-Pacific, and Rest of the world).

For each segment, market sizing and forecast have been done on the basis of value (in USD billion).

By Capacity Type
Less than 200 Tons
200 - 500 Tons
More than 500 Tons
By Application
Construction
Industries
Utilities
Others
By Geography
North America
United States
Canada
Rest of North America
Europe
Germany
United Kingdom
France
Rest of Europe
Asia-Pacific
India
China
Japan
South Korea
Rest of Asia-Pacific
Rest of the World
Brazil
Mexico
United Arab Emirates
Other Countries
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All-Terrain Crane Market Size Summary

The all-terrain crane market is poised for significant growth, driven by the resurgence of the construction and transportation sectors. Emerging economies, particularly in Asia-Pacific, are experiencing rapid expansion in construction activities, which is bolstering demand for all-terrain cranes. Despite the initial setbacks caused by the COVID-19 pandemic, which disrupted supply chains and halted production, the market has rebounded as economies reopened. The demand for all-terrain cranes is further supported by infrastructure development projects globally, with Europe being the largest market. However, challenges such as high maintenance costs and initial investment requirements may impede market growth. The increasing trend of equipment rental is also influencing the market dynamics, offering a cost-effective alternative for businesses.

The competitive landscape of the all-terrain crane market is characterized by the presence of major international and regional players, including Liebherr-International AG, Terex Corporation, and XCMG. These companies are actively innovating and expanding their product offerings to maintain a competitive edge. Recent advancements include the introduction of new models with enhanced features and technologies, such as Manitowoc's Grove truck crane and SANY's electric truck crane. Additionally, strategic acquisitions and investments, like Terex's acquisition of Steelweld, are aimed at enhancing manufacturing capabilities. The market's growth is further supported by substantial investments in infrastructure projects across Europe, as outlined by the EU Cohesion Policy, which is expected to drive demand for all-terrain cranes in the coming years.

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All-Terrain Crane Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Drivers

    2. 1.2 Market Restraints

    3. 1.3 Industry Attractiveness - Porter's Five Forces Analysis

      1. 1.3.1 Threat of New Entrants

      2. 1.3.2 Bargaining Power of Buyers/Consumers

      3. 1.3.3 Bargaining Power of Suppliers

      4. 1.3.4 Threat of Substitute Products

      5. 1.3.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION

    1. 2.1 By Capacity Type

      1. 2.1.1 Less than 200 Tons

      2. 2.1.2 200 - 500 Tons

      3. 2.1.3 More than 500 Tons

    2. 2.2 By Application

      1. 2.2.1 Construction

      2. 2.2.2 Industries

      3. 2.2.3 Utilities

      4. 2.2.4 Others

    3. 2.3 By Geography

      1. 2.3.1 North America

        1. 2.3.1.1 United States

        2. 2.3.1.2 Canada

        3. 2.3.1.3 Rest of North America

      2. 2.3.2 Europe

        1. 2.3.2.1 Germany

        2. 2.3.2.2 United Kingdom

        3. 2.3.2.3 France

        4. 2.3.2.4 Rest of Europe

      3. 2.3.3 Asia-Pacific

        1. 2.3.3.1 India

        2. 2.3.3.2 China

        3. 2.3.3.3 Japan

        4. 2.3.3.4 South Korea

        5. 2.3.3.5 Rest of Asia-Pacific

      4. 2.3.4 Rest of the World

        1. 2.3.4.1 Brazil

        2. 2.3.4.2 Mexico

        3. 2.3.4.3 United Arab Emirates

        4. 2.3.4.4 Other Countries

All-Terrain Crane Market Size FAQs

The All-Terrain Crane Market is projected to register a CAGR of greater than 5% during the forecast period (2024-2029)

Liebherr-International AG, Terex Corporation, XCMG Group, Sany Heavy Industry Co., Ltd and Manitowoc are the major companies operating in the All-Terrain Crane Market.

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