Truck Crane Market

The global truck crane market is predicted to see a positive trend in consumption and value terms from 2022 to 2030, with an anticipated CAGR of +6.5% and +10.7% respectively. Despite a decrease in consumption in 2022, the market is expected to grow steadily. The article provides insights into consumption patterns, production trends, imports, exports, and key players in the industry. Countries like China, Germany, and the United States dominate production and export, while Australia shows significant growth in import value. The average export price also saw a notable increase in 2022.

Market Forecast

Driven by rising demand for truck crane worldwide, the market is expected to start an upward consumption trend over the next eight years. The performance of the market is forecast to increase slightly, with an anticipated CAGR of +6.5% for the period from 2022 to 2030, which is projected to bring the market volume to 471K units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +10.7% for the period from 2022 to 2030, which is projected to bring the market value to $15.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Truck Cranes

In 2022, consumption of truck cranes decreased by -11.3% to 286K units, falling for the fourth year in a row after three years of growth. In general, consumption saw a relatively flat trend pattern. Global consumption peaked at 341K units in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

The global truck crane market size dropped to $6.8B in 2022, with a decrease of -11.2% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, continues to indicate a relatively flat trend pattern. Global consumption peaked at $8.5B in 2018; however, from 2019 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were Germany (33K units), the United States (32K units) and Italy (24K units), together comprising 31% of global consumption. Australia, Brazil, Japan, Russia, Indonesia, Canada, Spain, the United Arab Emirates, the Netherlands and China lagged somewhat behind, together accounting for a further 38%.

From 2012 to 2022, the biggest increases were recorded for Spain (with a CAGR of +24.3%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, Australia ($1.3B), Germany ($846M) and Brazil ($589M) constituted the countries with the highest levels of market value in 2022, together accounting for 40% of the global market. The United States, Canada, Italy, Spain, Japan, Russia, the Netherlands, Indonesia, China and the United Arab Emirates lagged somewhat behind, together comprising a further 32%.

Among the main consuming countries, Spain, with a CAGR of +25.4%, recorded the highest rates of growth with regard to market size over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of truck crane per capita consumption in 2022 were the United Arab Emirates (668 units per million persons), Australia (653 units per million persons) and Italy (408 units per million persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Spain (with a CAGR of +24.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Truck Cranes

In 2022, the amount of truck cranes produced worldwide expanded rapidly to 349K units, surging by 13% on the previous year. Overall, production saw a relatively flat trend pattern. As a result, production reached the peak volume and is likely to continue growth in the immediate term.

In value terms, truck crane production expanded to $3.5B in 2022 estimated in export price. Over the period under review, production continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2018 when the production volume increased by 18%. Global production peaked in 2022 and is likely to continue growth in years to come.

Production By Country

The countries with the highest volumes of production in 2022 were China (121K units), Germany (121K units) and the United States (36K units), together comprising 80% of global production.

From 2012 to 2022, the biggest increases were recorded for the United States (with a CAGR of +220.5%), while production for the other global leaders experienced more modest paces of growth.

Imports

World Imports of Truck Cranes

In 2022, the amount of truck cranes imported worldwide declined dramatically to 217K units, shrinking by -16.7% on the previous year. Overall, imports continue to indicate a relatively flat trend pattern. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. As a result, imports reached the peak of 260K units, and then declined markedly in the following year.

In value terms, truck crane imports rose remarkably to $3.8B in 2022. Over the period under review, imports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 with an increase of 26%. Over the period under review, global imports hit record highs at $4.3B in 2013; however, from 2014 to 2022, imports remained at a lower figure.

Imports By Country

The purchases of the twelve major importers of truck cranes, namely Australia, Brazil, Italy, Indonesia, Canada, Russia, the United Arab Emirates, the UK, the Netherlands, Germany, France and South Korea, represented more than half of total import. Myanmar (4.7K units) held a little share of total imports.

From 2012 to 2022, the biggest increases were recorded for Australia (with a CAGR of +54.4%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the Netherlands ($239M), Australia ($227M) and the UK ($175M) constituted the countries with the highest levels of imports in 2022, with a combined 17% share of global imports.

Australia, with a CAGR of +36.2%, saw the highest rates of growth with regard to the value of imports, among the main importing countries over the period under review, while purchases for the other global leaders experienced more modest paces of growth.

Import Prices By Country

In 2022, the average truck crane import price amounted to $17,704 per unit, growing by 27% against the previous year. In general, the import price saw a relatively flat trend pattern. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably by country of destination: amid the top importers, the country with the highest price was the Netherlands ($42,367 per unit), while Italy ($7,353 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.2%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Truck Cranes

Global truck crane exports rose remarkably to 280K units in 2022, increasing by 14% compared with the previous year. Over the period under review, exports continue to indicate a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when exports increased by 32% against the previous year. The global exports peaked in 2022 and are expected to retain growth in the near future.

In value terms, truck crane exports surged to $4.5B in 2022. Overall, exports, however, recorded a mild descent. The growth pace was the most rapid in 2021 with an increase of 26%. The global exports peaked at $5B in 2012; however, from 2013 to 2022, the exports failed to regain momentum.

Exports By Country

China (116K units) and Germany (94K units) dominates exports structure, together comprising 75% of total exports. It was distantly followed by the Netherlands (13K units), mixing up a 4.6% share of total exports. Belgium (8.1K units), Japan (6.5K units), the UK (6.5K units) and the United States (4.3K units) followed a long way behind the leaders.

From 2012 to 2022, the most notable rate of growth in terms of shipments, amongst the key exporting countries, was attained by the UK (with a CAGR of +6.4%), while the other global leaders experienced more modest paces of growth.

In value terms, Germany ($2.4B) remains the largest truck crane supplier worldwide, comprising 53% of global exports. The second position in the ranking was held by China ($1.1B), with a 24% share of global exports. It was followed by the Netherlands, with a 5.9% share.

From 2012 to 2022, the average annual growth rate of value in Germany was relatively modest. The remaining exporting countries recorded the following average annual rates of exports growth: China (+1.2% per year) and the Netherlands (+2.5% per year).

Export Prices By Country

The average truck crane export price stood at $15,908 per unit in 2022, increasing by 1.5% against the previous year. Overall, the export price, however, recorded a slight decrease. The most prominent rate of growth was recorded in 2018 an increase of 14%. As a result, the export price attained the peak level of $18,968 per unit. From 2019 to 2022, the average export prices remained at a somewhat lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was the United States ($37,190 per unit), while Belgium ($7,436 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the United States (+10.8%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform